JPMorgan Commodities Strategy Fund - R6 - J.P. Morgan Asset Management
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JPMorgan Commodities Strategy Fund
(CSFVX)
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Designed To

Designed to provide total return through a diversified portfolio of commodity-linked derivatives.

Approach

  • Maintains exposure to the commodities market within a range of 70% to 130% of the Fund's net assets
  • Uses derivatives to adjust commodity-sector exposure in an effort to reduce volatility and risk; does not own commodities outright
  • Employs an active management approach using rigorous fundamental and quantitative analysis to strategically adjust sector weightings

Performance

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Fees and Minimums

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Portfolio

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Management and Commentary

Fund Managers

For more information about this fund, please see the commentary posted below.
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Documents

Disclaimer

Commodity maturity for 6+ Months: The fund is short longer-dated Brent Crude Oil futures in favor of shorter-dated Brent Crude Oil exposure.

1Please refer to the prospectus for additional information about cut-off times.

Total return assumes reinvestment of income.

The cap on annual operating expenses is guaranteed in a fee waiver contract with the investment advisor, administrator and distributor. The cap does not extend to acquired fund costs, dividend expenses relating to short sales, interest, taxes, extraordinary expenses and expenses related to the Board of Trustees' deferred compensation plan. The cap may be modified or discontinued after 2/28/2017. "Total reductions" includes all applicable fee waivers and expense reimbursements.

Mutual funds have fees that reduce their performance: indexes do not. You cannot invest directly in an index.

The Bloomberg Commodity Index Total Return is comprised of futures contracts and reflects the returns on a fully collateralized investment in the index. This combines the returns of the index with the returns on cash collateral invested in 13 week (3 Month) U.S. Treasury Bills.

The performance of the Lipper Commodities General Funds Average includes expenses associated with a mutual fund, such as investment management fees. These expenses are not identical to the expenses charged by the Fund.

Total return assumes reinvestment of dividends and capital gains distributions and reflects the deduction of any sales charges, where applicable. Performance may reflect the waiver of a portion of the Fund's advisory or administrative fees and/or reimbursement of certain expenses for certain periods since the inception date. If fees had not been waived and/or certain expenses were not reimbursed, performance would have been less favorable.

©2017, American Bankers Association, CUSIP Database provided by the Standard & Poor's CUSIP Service Bureau, a division of The McGraw-Hill Companies, Inc. All rights reserved.
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
The following risks could cause the fund to lose money or perform more poorly than other investments. For more complete risk information, see the prospectus.

Investments in bonds and other debt securities will change in value based on changes in interest rates. If rates rise, the value of these investments generally drops.

Commodity investing is subject to greater volatility than investments in traditional securities, particularly if leveraged. Their value may be affected by overall market movements, index volatility, interest rate changes, or factors affecting a particular industry or commodity. Use of leveraged derivatives may increase return but also increase the possibility for greater loss.
Total return assumes reinvestment of income.