# Product Snapshot - JPMorgan Strategic Income Opportunities Fund > Audience: country=us, language=en, role=adv. > Generated: 2026-10-19T11:57:11.157434878Z. ## Identity - **Fund Name**: JPMorgan Strategic Income Opportunities Fund - **Share Class Name**: JPMorgan Strategic Income Opportunities Fund-C - **Product Page**: [Product Page](https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-strategic-income-opportunities-fund-c-4812a4377) - **Ticker Symbol**: JSOCX - **CUSIP**: 4812A4377 - **Fund Type**: MUTUAL FUND - **Asset Class**: Fixed Income Taxable ## Media ### Complement your core. Using an absolute-return-oriented approach, the Strategic Income Opportunities Fund invests flexibly across traditional and alternative fixed income markets and seeks to provide uncorrelated, low volatility returns regardless of market environment. Expertise - Lead portfolio manager Bill Eigen maximizes the insights of his proven team of absolute return investors with niche market expertise. Portfolio - With its ability to provide uncorrelated, low volatility returns, this benchmark-agnostic portfolio may complement traditional fixed income by providing diversification. Results - Provided stronger risk-adjusted returns and a higher percentage of rolling periods with positive absolute performance since inception.1 - Acts as a strong portfolio diversifier, with uncorrelated returns to traditional bond markets over 10 years.2 Competitive absolute and risk-adjusted returns - **Image**: [This bar chart depicts the fund's outperformance on both an absolute and risk adjusted return basis versus its Morningstar peers over the latest 5 years](https://cdn.jpmorganfunds.com/content/dam/jpm-am-aem/americas/us/en/images/npe-featured-images/sto-siopp-2q26.svg) [Disclosure 1] ## Fund Facts - **Ticker**: JSOCX - **CUSIP**: 4812A4377 - **Share Class Number**: 3842 - **Asset Class**: Fixed Income Taxable - **Fund Inception Date**: 10/10/2008 - **Share Class Inception Date**: 10/10/2008 - **ESG Approach**: Integrated [Disclosure 2] ## Fund Stats - **NAV As of 10/16/2026**: $11.28 - **NAV Change ($) As of 10/16/2026**: $0.00 - **NAV Change (%) As of 10/16/2026**: 0.00% - **30 Day SEC Yield As of 09/30/2026**: 2.60% - **30 Day SEC Yield Unsubsidized As of 09/30/2026**: 2.50% - **12-Month Rolling Dividend Yield As of 09/30/2026**: 2.95% [Disclosure 3] - **Yield to Maturity Gross As of 09/30/2026**: 4.17% [Disclosure 4] - **Yield to Maturity Net As of 09/30/2026**: 2.67% [Disclosure 4] - **Fund Assets As of 10/16/2026**: $9.26bn - **Number of Holdings As of 09/30/2026**: 497 - **YTD As of 10/16/2026**: 1.90% - **YTD (Total Return w/Load) As of 10/16/2026**: 0.90% ## Fees & Charges ### Fees - **Gross Expenses**: 1.60% - **Net Expenses**: 1.50% [Disclosure 5] ## Investment Terms ### Minimum Investments #### IRA - **Minimum Investment**: $1,000 - **Subsequent Investment**: $50 #### Regular - **Minimum Investment**: $1,000 - **Subsequent Investment**: $50 ## Portfolio Managers ### William Eigen - **Biography**: [Biography](https://am.jpmorgan.com/us/en/asset-management/adv/bios/william-eigen/) - **In the industry**: 36 years - **With J.P. Morgan**: 18 years - **Managing this fund**: 18 years ### Jarred Sherman - **Biography**: [Biography](https://am.jpmorgan.com/us/en/asset-management/adv/bios/jarred-sherman/) - **In the industry**: 27 years - **With J.P. Morgan**: 27 years - **Managing this fund**: 17 years ### Jeffrey Wheeler - **Biography**: [Biography](https://am.jpmorgan.com/us/en/asset-management/adv/bios/jeffrey-wheeler/) - **In the industry**: 28 years - **With J.P. Morgan**: 13 years - **Managing this fund**: 11 years ### Robert Cook - **Biography**: [Biography](https://am.jpmorgan.com/us/en/asset-management/adv/bios/robert-cook/) - **In the industry**: 35 years - **With J.P. Morgan**: 22 years - **Managing this fund**: 1 year ## Ratings ### Morningstar Overview Ratings - **Category: **: Nontraditional Bond - **As of **: 09/30/2026 - **Overall**: 2 of 5 stars - **Funds in Category**: 194 Funds in Category - **3 Year**: 2 of 5 stars - **Funds in Category**: 194 Funds in Category - **5 Year**: 3 of 5 stars - **Funds in Category**: 183 Funds in Category - **10 Year**: 2 of 5 stars - **Funds in Category**: 123 Funds in Category [Disclosure 6] ### Morningstar Overview Ranking - **Category: **: Nontraditional Bond - **As of **: 09/30/2026 - **1 Year**: Rank 62 - **Funds in Category**: 208 Funds in Category - **Group Percentile**: 29% - **3 Year**: Rank 171 - **Funds in Category**: 194 Funds in Category - **Group Percentile**: 85% - **5 Year**: Rank 85 - **Funds in Category**: 183 Funds in Category - **Group Percentile**: 45% - **10 Year**: Rank 97 - **Funds in Category**: 123 Funds in Category - **Group Percentile**: 82% [Disclosure 7] ### Lipper Rankings: Absolute Return Bond Funds - **As of**: 09/30/2026 - **1 Year**: Rank 20 - **Funds in Category**: 69 Funds in Category - **Group Percentile**: 29% - **3 Year**: Rank 63 - **Funds in Category**: 64 Funds in Category - **Group Percentile**: 97% - **5 Year**: Rank 27 - **Funds in Category**: 64 Funds in Category - **Group Percentile**: 42% - **10 Year**: Rank 42 - **Funds in Category**: 51 Funds in Category - **Group Percentile**: 81% [Disclosure 8] ## Portfolio ### Portfolio Stats - **Number of Holdings** (As of 09/30/2026): 497 - **Fund Assets** (As of 09/30/2026): $9.26bn - **Turnover Ratio (Trailing 12 month) (2/28/2026)**: 536.00% - **Yield to Maturity Gross** (As of 09/30/2026): 4.17% - **Yield to Maturity Net** (As of 09/30/2026): 2.67% - **Yield to Worst Gross** (As of 09/30/2026): 4.0% - **Yield to Worst Net** (As of 09/30/2026): 2.50% - **Average Life** (As of 09/30/2026): Fund: 0.92 years; Index: 7.92 years - **Effective Duration** (As of 09/30/2026): Fund: 0.40 years; Index: 5.59 years - **Average Maturity** (As of 09/30/2026): Fund: 3.10 years; Index: 11.43 years [Disclosure 9] ### Top 10 Holdings _As of 09/30/2026_ | Holding | Weight | | --- | ---: | | FNMA/FHLMC UMBS, Single Family, 30 Year, 6.00%, 10/25/2056 | 6.4% | | ING Groep NV, 5.75%, 11/16/2026 | 1.3% | | AT&T, Inc., 4.57%, 08/10/2028 | 0.7% | | BofA Securities, Inc., 4.36%, 01/29/2027 | 0.7% | | Keurig Dr Pepper, Inc., 4.50%, 11/15/2026 | 0.6% | | American Express Co., 4.92%, 02/16/2028 | 0.5% | | Goldman Sachs Group, Inc. (The), 5.85%, 10/28/2027 | 0.5% | | Morgan Stanley Bank NA, 4.62%, 10/15/2027 | 0.5% | | Public Storage Operating Co., 4.63%, 04/16/2027 | 0.5% | | Wells Fargo & Co., 4.71%, 01/24/2028 | 0.5% | | Total of top 10 | 12.2% | [Disclosure 10] ### Quality _As of 09/30/2026_ | Quality | Fund | Index | | --- | ---: | ---: | | AAA | 51.5% | 63.6% | | AA | 19.3% | 7.4% | | A | 20.1% | 11.9% | | BBB | 5.1% | 11.3% | | BB | 0.7% | 3.7% | | B | 0.2% | 1.7% | | CCC and Lower | 0.4% | 0.4% | | Not Rated | 2.8% | 0.1% | [Disclosure 11] ### Average Life _As of 09/30/2026_ | Average Life | Average Life | | --- | ---: | | Less than 1 year | 72.1% | | Years 1-3 | 22.5% | | Years 3-5 | 3.0% | | Years 5-7 | 1.9% | | Years 7-10 | 0.3% | | Years 10-20 | 0.1% | | Years 20+ | 0.1% | | Average Maturity | 3.10 years | | Average Life | 0.92 years | [Disclosure 12] ### Sector Allocation _As of 09/30/2026_ | Sector | Sector Allocation | | --- | ---: | | Bank Loans | 0.30% | | Cash | 47.80% | | Convertibles | 3.80% | | Credit RV | 0.30% | | High Yield | 0.40% | | Invest Grade Corp | 42.00% | | Non-Agency MBS | 5.00% | | Other | 0.30% | [Disclosure 13] ## Commentary **As of **: 08/31/2026 ### Topline Markets: Geopolitical uncertainty and mixed macro signals kept markets volatile, with shifting Federal Reserve (“Fed”) expectations, a briefly supportive but questioned Treasury buyback, higher global yields and foreign exchange intervention, and data that balanced weaker payrolls against still-sticky inflation. Helped: Investment Grade (IG) Floaters, Hedges, Convertibles. Hurt: There were no detractors this month. Outlook: While markets have demonstrated notable resilience in the face of ongoing geopolitical risks and inflationary pressures, the outlook remains uncertain. The effects of a less forward-guided Fed, elevated geopolitical risk with energy and long-end rates that appear more sensitive to credibility, fiscal, and term premium suggests continued volatility across asset classes and present both risks and opportunities. ### Month in Review Markets remained in limbo heading into the end of the third quarter, with the war in Iran continuing to inject volatility in markets. The U.S. Treasury curve maintained a steepening bias, driven by market participants demanding more risk premium further down the curve. Rates traded in a narrow range throughout August before the curve ultimately ended flatter at month end, as front-end yields rose meaningfully following Fed Chair Warsh’s speech at the Jackson Hole Symposium. Warsh’s remarks were interpreted as generally hawkish despite his desire to remove forward guidance. He did so while keeping the door open to additional tightening should inflation fail to convincingly return toward target. Two-year U.S. Treasuries were up 11 basis points (bps) on the day and 5-year U.S. Treasuries were up 8 bps. Looking at futures, investors’ expectations continued to imply a full 25 bps hike by year-end, with odds favoring a hike by the September meeting. Treasury Secretary Bessent’s surprise buyback announcement—doubling the size of repurchases from $2bn to $4bn—was framed as an attempt to support weak technicals and liquidity at the long end. The buyback contributed to a broad rally that quickly reversed, calling into question the credibility of the program and appearing at odds with the Federal Reserve’s desire to reduce its balance sheet and step away from markets as an artificial buyer of rates. In parallel, global rates marched higher, with a notable move in Japanese government bonds (“JGB”). Rates across the curve were up 19 bps on average through August with the 2-year JGB up 23 bps. This triggered a rare, coordinated U.S.-Japan intervention to support the yen, as a traders unwound their carry trade positions in anticipation of an interest rate hike by the Bank of Japan, leading to an appreciation of the yen. On the data front, U.S. payrolls surprised to the downside (July nonfarm payrolls fell by 23,000 versus expectations for an increase), pushing investors to dial back near-term odds of a hike. However, inflationary data remained “sticky enough” to keep the tightening debate alive—July CPI was modestly firmer month-over-month (“MoM”) while the Fed’s preferred PCE gauge remained elevated, leaving markets oscillating between growth slowdown and persistent inflation. ### Looking Ahead As we look ahead, we continue to exercise caution in the short to medium term given markets that can remain technically driven even as fundamentals evolve. The bear steepening in July highlighted the risk that markets can simultaneously price in less near-term tightening while demanding more compensation at the long end. Credit spreads in the lower-rated cohort are trading at razor-thin tights, suggesting a benign environment for credit that, in our view, does not offer adequate compensation given the slew of macro risks. Furthermore, while AI remains a fundamental long-term growth theme, uncertainties around capital expenditure intensity, adoption curves, and disruptive impacts may continue to drive episodic volatility in markets. From an absolute return perspective, we continue to emphasize resilience and risk management while focusing on exposure where carry and spread offer better compensation for risk. We remain mindful that tight spreads and elevated rates volatility can amplify market sensitivity to macro surprises and stand ready to deploy liquidity on our terms—when prices overshoot fundamentals and margins of safety improve. ## Documents - [Factsheet: JPMorgan Strategic Income Opportunities Fund (C)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fact-sheet/taxable-fixed-income/FS-SIOPP-C.PDF) - [Fund Story: Strategic Income Opportunities Fund](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fund-story/STO-SIOPP.pdf) - [Commentary: Strategic Income Opportunities Fund](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/commentary/FC-SIOPP.PDF) - [Supplemental Data Sheet - Strategic Income Opportunities Fund (Monthly)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/mfdp/MFDP-SIOPP-1.PDF) - [Summary Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/4812A4377/SP?site=JPMorganv3) - [Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/4812A4377/P?site=JPMorganv3) - [Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/4812A4377/AR?site=JPMorganv3) - [Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/4812A4377/NCSR?site=JPMorganv3) - [Semi-Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/4812A4377/SAR?site=JPMorganv3) - [Semi-Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/4812A4377/NCSRS?site=JPMorganv3) - [First Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/4812A4377/QH1?site=JPMorganv3) - [Third Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/4812A4377/QH3?site=JPMorganv3) - [Statement of Additional Information](https://am.jpmorgan.com/JPMorgan/TVT/4812A4377/S?site=JPMorganv3) - [Annual Report Of Proxy Voting](https://am.jpmorgan.com/JPMorgan/TVT/4812A4377/NPX?site=JPMorganv3) ## Disclosures 1. Chart source: J.P. Morgan Asset Management; data as of 6/30/26. I shares inception date 10/10/08. Minimum eligibility requirements for the I share class apply; please see prospectus for further details. Past performance does not guarantee future results. 1 Ranked: 1-yr. (138/203), 3-yrs. (148/197), 5-yrs. (60/184), 10-yrs. (92/143). Risk is measured by standard deviation — a gauge of the variance of a manager’s return over its average or mean: 1-yr. (1/203), 3-yrs. (2/197), 5-yrs. (1/184), 10-yrs. (2/143). Sharpe ratio measures a fund’s returns relative to its risks. Higher numbers for risk-adjusted returns are better. Ranked: 1-yr. (159/203), 3-yrs. (139/197), 5-yrs. (92/184), 10-yrs. (28/143). 2 Bloomberg Barclays U.S. Aggregate Index is an unmanaged index representing SEC-registered taxable and dollar-denominated securities covering the U.S. investment grade fixed-rate bond market, with index components for government and corporate securities, mortgage pass-throughs and asset-backed securities. Performance: 1-yr. (3.79), 3-yrs. (4.16), 5-yrs. (0.08), 10-yrs. (1.54), since inception (3.19). 2. This Fund considers financially material environmental, social and governance ("ESG") factors as part of the Fund's investment process. In actively managed assets deemed by J.P. Morgan Asset Management to be ESG integrated under our governance process, we systematically assess financially material ESG factors amongst other factors in our investment decisions with the goals of managing risk and improving long-term returns. ESG integration does not change a strategy's investment objective, exclude specific types of companies or constrain a strategy's investable universe. 3. The 12-Month Rolling Dividend Yield represents the sum of the dividend yield (non-annualized) for the 12 most recent regularly declared income dividends as well as any special income distributions in the intervening period. Dividend yield (non-annualized) is calculated by dividing the dividend per share by the net asset value per share as of the relevant ex-dividend date. 4. Yield to maturity (YTM): is the estimated total return anticipated on a bond or other obligation if the obligation is held until maturity and if all payments are made as scheduled. Gross YTM is calculated by averaging the YTM of each obligation held in the portfolio (including, if any, convertible bonds, preferred securities and derivatives) on a market weighted basis without the deduction of fees and expenses. Unlike SEC Yield, Gross YTM is a representation of the estimated total return of the bonds and other obligations held in the portfolio as of the month-end shown, whereas SEC Yield approximates the current income generated by the obligations held in the portfolio over a historical 30-day period after the deduction of fees and expenses. Unlike SEC Yield, Gross YTM takes into account derivatives. Gross YTM and SEC Yield are not a guarantee nor necessarily indicative of future performance or income generation. Net YTM is calculated in the same way as Gross YTM except that Net YTM reflects the deduction of fund-level fees, expenses and, if applicable, hedging costs. Net YTM is not a guarantee nor necessarily indicative of future performance or income generation. Certain other funds may calculate YTM differently (e.g., certain other funds may include only certain types of derivatives in the calculation of YTM, whereas the YTM calculation for this fund includes all types of derivatives), and such differences could significantly impact the calculation of YTM, and therefore decrease comparability between YTM for this fund and YTM for other funds. 5. The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation and extraordinary expenses) exceed 1.500% of the average daily net assets. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser has contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the fees and expenses of the affiliated money market funds incurred by the Fund because of the Fund's investment in such money market funds. These waivers are in effect through 6/30/2027, at which time the adviser will determine whether to renew or revise it. The difference between net and gross fees includes all applicable fee waivers and expense reimbursements. Net expenses may include short dividend expense. See prospectus for details. 6. Overall Morningstar RatingTM for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. 7. The ranking information is provided by Morningstar. Past performance is no guarantee of future results. Rankings are calculated based upon the total returns of multiple share classes within their respective Morningstar category. Different share classes may have different rankings. 8. The ranking information is provided by Lipper Analytical Services. Past performance is no guarantee of future results. Rankings are calculated based upon the total returns of multiple share classes within their respective Lipper category. Different share classes may have different rankings. 9. Yield to worst (YTW) is the lower of a bond or other obligation's yield to maturity (YTM) and yield to call (YTC). Gross YTW is calculated by averaging the YTW of each obligation held in the portfolio on a market weighted basis without the deduction of fees and expenses. YTM is calculated as described next to the YTM figures. YTC is calculated the same way as YTM, but assumes that a bond or other obligation will be called or repurchased by the issuer before its maturity date (generally the next call date), and that the portfolio will be paid a call price (generally a percentage of the then-current face value of the obligation) on the call date. Gross YTW, YTM and YTC are not a guarantee nor necessarily indicative of future performance or income generation. Net YTW is calculated in the same way as Gross YTW except that Net YTW reflects the deduction of fund-level fees, expenses and, if applicable, hedging costs. Net YTW is not a guarantee nor necessarily indicative of future performance or income generation. 10. The top 10 holdings listed exclude cash and money markets. Holdings are subject to change. The holdings listed should not be considered recommendations to purchase or sell a particular security. Each individual security is calculated as a percentage of the aggregate market value of the securities held in the Fund and does not include the use of derivative positions, where applicable. 11. Due to rounding, values may not total 100%. The manager uses credit quality ratings on underlying securities of the portfolio from five major ratings agencies - S&P, Moody's, Fitch, Kroll and DBRS Morningstar. When calculating the credit quality breakdown, the manager selects the highest rating of the agencies that have provided a securities rating. Securities that are not rated by any of the five agencies are reflected as not rated. Certain holdings may not be included due to de minimis values and rounding. Values may not total 100%. 12. Due to rounding, values may not total 100%. Average Maturity: The average length of maturity for all fixed-rate debt instruments held in a portfolio. A bond fund or mutual fund with a long average maturity is more sensitive to interest rate fluctuations than one with shorter average maturity. Average Life: The length of time the principal of a debt issue is expected to be outstanding. 13. The Credit RV book is a long/short credit book which combines both traditional and derivative credit positions. This book may contain traditional IG, HY and EM cash bonds, in addition to Credit Default Swaps (both CDS and CDX), total return swaps, and other synthetic exposure. The quality breakdown will show overall exposure to various credit qualities across the fund. The sector allocation of the Fund's assets is calculated by adding the market value of the Fund's investments in securities and a risk-adjusted exposure of its derivative positions. The risk-adjusted exposure is calculated using the adviser's internal methodology and is based on certain assumptions concerning the type of derivative, whether the derivative creates a long or short position, and certain market and loss scenarios. There is not one standard method for calculating sector allocation and the Fund's calculation may not be consistent with other measures of sector allocation.