# Product Facts - Undiscovered Managers Behavioral Value Fund

> Audience: country=us, language=en, role=adv.
> Generated: 2026-10-02T00:40:35.943369140Z.

## Identity

- **Fund Name**: Undiscovered Managers Behavioral Value Fund
- **Share Class Name**: Undiscovered Managers Behavioral Value Fund-A
- **Product Page**: [Product Page](https://am.jpmorgan.com/us/en/asset-management/adv/products/undiscovered-managers-behavioral-value-fund-a-904504586)
- **Ticker**: UBVAX
- **CUSIP**: 904504586
- **Fund Type**: MUTUAL FUND
- **Asset Class**: U.S. Equity
- **Fund Inception Date**: 12/28/1998
- **Share Class Inception Date**: 06/04/2004
- **Investment Objective**: Capital appreciation.

## Fund Facts

- **Ticker**: UBVAX
- **CUSIP**: 904504586
- **Share Class Number**: 1390
- **Asset Class**: U.S. Equity
- **Fund Inception Date**: 12/28/1998
- **Share Class Inception Date**: 06/04/2004

## Fund Stats

- **NAV  As of 10/01/2026**: $79.17
- **NAV Change ($) As of 10/01/2026**: $0.18
- **NAV Change (%) As of 10/01/2026**: 0.23%
- **Fund Assets As of 10/01/2026**: $8.00bn
- **Number of Holdings As of 08/31/2026**: 90
- **YTD  As of 10/01/2026**: 5.13%
- **YTD (Total Return w/Load) As of 10/01/2026**: -0.39%

## Portfolio Managers

### David Potter

- **In the industry**: 32 years
- **With Fuller & Thaler Asset Management, Inc.**: 21 years
- **Managing this fund**: 21 years

### Ryam Lee

- **In the industry**: 13 years
- **With Fuller & Thaler Asset Management, Inc.**: 9 years
- **Managing this fund**: 7 years

## Commentary

**As of **: 06/30/2026

### Topline

Benchmark Russell 2000 Value Index

Markets The average underweight to the energy sector contributed to the quarterly relative return, while the average underweight to the information technology sector reduced the quarterly relative return.

Helped The three largest, relative-return contributors were Healthpeak Properties, Sensata Technologies and Americold Realty Trust.

Hurt The three largest, relative-return detractors were Celanese, Fidelity National and Devon Energy.

Outlook The Undiscovered Managers Behavioral Value Fund held 86 positions with the top 10 accounting for 32% of the total and the top 25 accounting for 57%.

### Quarter in Review

The Undiscovered Managers Behavioral Value Fund underperformed its benchmark, the Russell 2000 Value Index, for the quarter ended June 30, 2026.

Celanese and Devon Energy declined in sympathy with other chemical and energy companies as the positive initial reaction to the Iran war supply chain disruption faded.

Fidelity National reiterated its annual guidance, yet AI-disruption fears continued to affect its stock price.

Healthpeak’s stock price increased as it disclosed better biotech leasing activity and occupancy outlook.

Sensata disclosed that its products had been specified into two hyperscaler’s data centers.

Americold sold some of its cold storage real estate at low-cap rates (high prices) to an infrastructure fund.

### Looking Ahead

The Bloomberg forecast one-year Beta is 0.93.

## Documents

- [Factsheet: Undiscovered Managers Behavioral Value Fund (A)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fact-sheet/us-equity/FS-UMBV-A.PDF)
- [Commentary: Undiscovered Managers Behavioral Value Fund](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/commentary/FC-UMBV.PDF)
- [Section 19a Notice - December 2025](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/section-19-notices/section-19a-notice-aa-funds-12-2025.pdf)
- [Supplemental Data Sheet - Undiscovered Managers Behavioral Value Fund (Monthly)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/mfdp/MFDP-UMBV-1.pdf)
- [Summary Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/904504586/SP?site=JPMorganv3)
- [Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/904504586/P?site=JPMorganv3)
- [Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/904504586/AR?site=JPMorganv3)
- [Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/904504586/NCSR?site=JPMorganv3)
- [Semi-Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/904504586/SAR?site=JPMorganv3)
- [Semi-Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/904504586/NCSRS?site=JPMorganv3)
- [First Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/904504586/QH1?site=JPMorganv3)
- [Third Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/904504586/QH3?site=JPMorganv3)
- [Statement of Additional Information](https://am.jpmorgan.com/JPMorgan/TVT/904504586/S?site=JPMorganv3)
- [Annual Report Of Proxy Voting](https://am.jpmorgan.com/JPMorgan/TVT/904504586/NPX?site=JPMorganv3)