# Product Snapshot - JPMorgan Tax Free Bond Fund > Audience: country=us, language=en, role=adv. > Generated: 2026-10-20T12:33:08.209130179Z. ## Identity - **Fund Name**: JPMorgan Tax Free Bond Fund - **Share Class Name**: JPMorgan Tax Free Bond Fund-A - **Product Page**: [Product Page](https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-tax-free-bond-fund-a-4812c0431) - **Ticker Symbol**: PMBAX - **CUSIP**: 4812C0431 - **Fund Type**: MUTUAL FUND - **Asset Class**: Fixed Income Tax Exempt ## Overview ### Designed to deliver high level of federal tax-exempt current income while maintaining stability of principal. Invests in municipal securities across all maturities~~Uses a value-oriented approach that combines credit research with extensive risk/reward analysis~~Aims to help minimize tax liability while preserving capital ## Fund Facts - **Ticker**: PMBAX - **CUSIP**: 4812C0431 - **Share Class Number**: 3721 - **Asset Class**: Fixed Income Tax Exempt - **Fund Inception Date**: 03/01/1988 - **Share Class Inception Date**: 03/01/1988 - **ESG Approach**: Integrated [Disclosure 1] ## Fund Stats - **NAV As of 10/19/2026**: $10.19 - **NAV Change ($) As of 10/19/2026**: $-0.01 - **NAV Change (%) As of 10/19/2026**: -0.10% - **30 Day SEC Yield As of 09/30/2026**: 3.83% - **30 Day SEC Yield Unsubsidized As of 09/30/2026**: 3.58% - **12-Month Rolling Dividend Yield As of 09/30/2026**: 3.52% [Disclosure 2] - **Daily - 30 Day SEC Yield As of 10/19/2026**: 3.84% - **Daily - 30 Day SEC Yield Unsubsidized As of 10/19/2026**: 3.59% - **Fund Assets As of 10/19/2026**: $791.16mn - **Number of Holdings As of 09/30/2026**: 451 - **YTD As of 10/19/2026**: -2.92% - **YTD (Total Return w/Load) As of 10/19/2026**: -6.55% ## Fees & Charges ### Fees - **Gross Expenses**: 0.94% - **Net Expenses**: 0.67% [Disclosure 3] ## Investment Terms ### Minimum Investments #### IRA - **Minimum Investment**: $1,000 - **Subsequent Investment**: $50 #### Regular - **Minimum Investment**: $1,000 - **Subsequent Investment**: $50 ## Portfolio Managers ### Rachel Betton - **Biography**: [Biography](https://am.jpmorgan.com/us/en/asset-management/adv/bios/rachel-betton/) - **In the industry**: 20 years - **With J.P. Morgan**: 3 years - **Managing this fund**: 2 years ### Michael Myers - **Biography**: [Biography](https://am.jpmorgan.com/us/en/asset-management/adv/bios/michael-myers/) - **In the industry**: 33 years - **With J.P. Morgan**: 21 years - **Managing this fund**: 2 years ### Michelle Hallam - **Biography**: [Biography](https://am.jpmorgan.com/us/en/asset-management/adv/bios/michelle-hallam/) - **In the industry**: 27 years - **With J.P. Morgan**: 27 years - **Managing this fund**: 12 years ## Ratings ### Morningstar Overview Ratings - **Category: **: Muni National Long - **As of **: 09/30/2026 - **Overall**: 2 of 5 stars - **Funds in Category**: 148 Funds in Category - **3 Year**: 3 of 5 stars - **Funds in Category**: 148 Funds in Category - **5 Year**: 2 of 5 stars - **Funds in Category**: 147 Funds in Category - **10 Year**: 2 of 5 stars - **Funds in Category**: 110 Funds in Category [Disclosure 4] ### Morningstar Overview Ranking - **Category: **: Muni National Long - **As of **: 09/30/2026 - **1 Year**: Rank 135 - **Funds in Category**: 157 Funds in Category - **Group Percentile**: 86% - **3 Year**: Rank 76 - **Funds in Category**: 148 Funds in Category - **Group Percentile**: 56% - **5 Year**: Rank 120 - **Funds in Category**: 147 Funds in Category - **Group Percentile**: 78% - **10 Year**: Rank 86 - **Funds in Category**: 110 Funds in Category - **Group Percentile**: 81% [Disclosure 5] ### Lipper Rankings: General & Insured Municipal Debt Funds - **As of**: 09/30/2026 - **1 Year**: Rank 232 - **Funds in Category**: 262 Funds in Category - **Group Percentile**: 89% - **3 Year**: Rank 121 - **Funds in Category**: 247 Funds in Category - **Group Percentile**: 49% - **5 Year**: Rank 209 - **Funds in Category**: 240 Funds in Category - **Group Percentile**: 87% - **10 Year**: Rank 145 - **Funds in Category**: 182 Funds in Category - **Group Percentile**: 80% [Disclosure 6] ## Portfolio ### Portfolio Stats - **Number of Holdings** (As of 09/30/2026): 451 - **Fund Assets** (As of 09/30/2026): $788.63mn - **Turnover Ratio (Trailing 12 month) (2/28/2026)**: 54.00% - **Yield to Worst Gross** (As of 09/30/2026): 5.32% - **Yield to Worst Net** (As of 09/30/2026): 4.65% - **Average Life** (As of 09/30/2026): 13.91 years - **Duration** (As of 09/30/2026): 7.97 years - **Average Maturity** (As of 09/30/2026): 17.55 years [Disclosure 7] ### Top 10 Holdings _As of 09/30/2026_ | Holding | Weight | | --- | ---: | | Tennergy Corp., Gas Supply, 4.00%, 12/01/2051 | 1.3% | | Mt. San Antonio Community College District, Election of 2008, 0.00%, 08/01/2043 | 0.9% | | Port Authority of New York and New Jersey, Consolidated, 6.12%, 06/01/2094 | 0.9% | | Puerto Rico Sales Tax Financing Corp. Sales Tax, 5.00%, 07/01/2058 | 0.9% | | Black Belt Energy Gas District, Gas Project, 5.00%, 03/01/2055 | 0.8% | | Buckeye Tobacco Settlement Financing Authority, Class 2, 5.00%, 06/01/2055 | 0.8% | | Main Street Natural Gas, Inc., Gas Supply, 4.00%, 05/01/2052 | 0.8% | | Michigan Strategic Fund, Graphic Packaging International, LLC Coated Recycled Board Machine Project, 4.35%, 10/01/2061 | 0.8% | | New Jersey Transportation Trust Fund Authority, Transportation System, 0.00%, 12/15/2036 | 0.8% | | State of Illinois, 5.00%, 03/01/2033 | 0.8% | | Total of top 10 | 8.8% | [Disclosure 8] ### Quality _As of 09/30/2026_ | Quality | Quality | | --- | ---: | | AAA | 11.5% | | AA | 36.0% | | A | 29.6% | | BBB | 11.7% | | BB | 3.8% | | B | 0.4% | | C | 0.3% | | Non-Rated | 6.8% | [Disclosure 9] ### Average Life _As of 09/30/2026_ | Average Life | Average Life | | --- | ---: | | 0-1 | 9.1% | | 1-2 | 3.6% | | 2-3 | 4.8% | | 3-4 | 3.8% | | 4-5 | 3.9% | | 5-6 | 2.2% | | 6-7 | 3.5% | | 7-8 | 2.3% | | 8-9 | 10.3% | | 9-10 | 3.5% | | 10+ | 55.4% | | Duration | 7.97 years | | Average Maturity | 17.55 years | | Average Life | 13.91 years | [Disclosure 10] ### Contribution To Duration (in years) _As of 09/30/2026_ | Contribution To Duration | Contribution To Duration (in years) | | --- | ---: | | Revenue Duration Cont | 6.69 | | GO Duration Cont | 1.10 | | Other Duration Cont | 0.16 | | Pre-re Duration Cont | 0.02 | ## Documents - [Factsheet: JPMorgan Tax Free Bond Fund (A)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fact-sheet/tax-free-fixed-income/FS-TFB-A.PDF) - [Commentary: Tax Exempt Mutual Fund](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/fund-announcement/FC-TEMF.pdf) - [Supplemental Data Sheet - Tax Free Bond Fund (Monthly)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/mfdp/MFDP-TFB-1.PDF) - [Summary Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/4812C0431/SP?site=JPMorganv3) - [Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/4812C0431/P?site=JPMorganv3) - [Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/4812C0431/AR?site=JPMorganv3) - [Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/4812C0431/NCSR?site=JPMorganv3) - [Semi-Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/4812C0431/SAR?site=JPMorganv3) - [Semi-Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/4812C0431/NCSRS?site=JPMorganv3) - [First Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/4812C0431/QH1?site=JPMorganv3) - [Third Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/4812C0431/QH3?site=JPMorganv3) - [Statement of Additional Information](https://am.jpmorgan.com/JPMorgan/TVT/4812C0431/S?site=JPMorganv3) - [Annual Report Of Proxy Voting](https://am.jpmorgan.com/JPMorgan/TVT/4812C0431/NPX?site=JPMorganv3) ## Disclosures 1. 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. 2. 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. 3. 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 0.670% 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. 4. 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. 5. 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. 6. 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. 7. 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. A rate of return measuring the total performance of a fund (coupon payments as well as capital gain or loss) from the current date until maturity of the instruments in the portfolio. This means that if the portfolio in its current form is held till maturity, then the return that an investor will get is equal to the Yield to Maturity (YTM) of the Portfolio. It however assumes that any flows (in the form of coupons/part of principal repayments) received before maturity are being reinvested at the YTM rate. If the reinvestment rate is lower, then the total return could be lower than YTM. 8. 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. 9. Fund exposure may be more or less than 100%. The manager uses credit quality ratings on underlying securities of the portfolio from three major ratings agencies - S&P, Moody's and Fitch. When calculating the credit quality breakdown, the manager selects the middle rating of the agencies when all three agencies rate a security. The manager will use the lower of the two ratings if only two agencies rate a security and will use one rating if that is all that is provided. Securities that are not rated by any of the three agencies are reflected as not rated. Certain holdings may not be included due to de minimis values and rounding. Values may not total 100%. 10. Fund exposure may be more or less than 100%. Duration: Measures price sensitivity of fixed income securities to interest rate changes. Average Life: The length of time the principal of a debt issue is expected to be outstanding.