JPMorgan Growth Advantage Fund


Growth investing with freedom to roam.

Anchored in large-cap growth stocks, the Growth Advantage Fund has the flexibility to pursue compelling growth opportunities across all market capitalizations.

Fund Story   Quarterly Fact Sheet   Commentary  

Key Points


Compared to benchmark and category average, in thousands (difference vs. benchmark)

Source: J.P. Morgan Asset Management, Morningstar; as of 3/31/16. Morningstar Large Growth Category. Ending values since fund inception date of 10/29/99: Growth Advantage $170,380, Russell 3000 Growth Index $179,935, Morningstar category average $166,553. Returns shown are for the Select Share class. Other share classes may have higher expenses, which would result in lower returns. Returns with dividend and capital gains reinvested. There is no direct correlation between a hypothetical investment and the anticipated performance of the Fund. The Fund changed its investment strategy from a mid-cap to multi-cap fund on 8/31/05. There can be no assurance that the current portfolio manager will continue to manage the fund or that past performance is an indicator of future performance. The $0 value for benchmark growth is the baseline for the over and under comparison.

Key points

  • Seeks companies with large or growing addressable markets, sustainable competitive advantage and strong management execution.
  • Increased potential for strong long-term results as the Fund is unconstrained by market caps.
  • Top-decile performance vs. peers for the three-, five- and 10-year periods.1

1Source: Morningstar as of 3/31/16. The Fund (Select Shares) was ranked as follows: one year (743/1663 funds), three years (95/1,524 funds), five years (127/1,315 funds) and 10 years (N/A/937 funds).

Consistent outperformance over peers

A relaxed market-cap constraint enables the Fund’s growth team to fully express their conviction and own the strongest growth stocks regardless of capitalization. Maintaining a high-quality basis, the team seeks companies that execute well fundamentally, show strong price momentum and have sustainable competitive advantage.

Combining the team’s best research ideas with a bottom-up fundamental approach has resulted in a diversified portfolio of high-conviction stocks that has ranked in the top quartile of its large-cap growth peer group during 87% of rolling 5-year periods.*

*The Fund changed its investment strategy from a mid-cap to multi-cap fund on 8/31/05.


Source: J.P. Morgan Asset Management, Morningstar. Data as of 3/31/16. Select Shares relative to Morningstar Large Growth category. Past performance is no guarantee of future results

The growth advantage strategy

Tim Parton, portfolio manager, suggests that by focusing on investment in the best companies regardless of capitalization, this innovative strategy offers two key advantages that make it stand out.


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Fees and Investment Minimums

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Fund Managers

For more information about this fund, please see the commentary posted below. 
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Please refer to the prospectus for additional information about cut-off times.

Total return assumes reinvestment of income.

The quoted performance of the Fund includes performance of a predecessor fund/share class prior to the Fund's commencement of operations. Please refer to the current prospectus for further information.

The Russell 3000 Growth Index is an unmanaged index which measures the performance of those Russell 3000 companies (largest 3000 U.S. companies) with higher price-to-book ratios and higher forecasted growth values. The performance of the index does not reflect the deduction of expenses associated with a fund, such as investment management fees. By contrast, the performance of the Fund reflects the deduction of fund expenses, including sales charges if applicable. Investors can not invest directly in an index.

The performance of the Lipper Multi-Cap Growth Funds Index 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.

Ā©2016, 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.
Small-capitalization investments typically carry more risk than investments in well-established "blue-chip" companies since smaller companies generally have a higher risk of failure. Historically, smaller companies' stock has experienced a greater degree of market volatility than the average stock.

Mid-cap funds typically carry more risk than funds investing in well-established "blue-chip" companies and have historically experienced a greater degree of volatility than the average stock.
Total return assumes reinvestment of income.

The top 10 holdings listed reflect only the Fund's long-term investments. Short-term investments are excluded. 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.

P/E ratio: the number by which earnings per share is multiplied to estimate a stock's value.

P/B ratio: the relationship between a stock's price and the book value of that stock.

Beta measures a fund's volatility in comparison to the market as a whole. A beta of 1.00 indicates a fund has been exactly as volatile as the market.

Sharpe ratio measures the fund's excess return compared to a risk-free investment. The higher the Sharpe ratio, the better the returns relative to the risk taken.

Tracking Error: The active risk of the portfolio, which determines the annualized standard deviation of the excess returns between the portfolio and the benchmark.

Alpha: The relationship between the performance of the Fund and its beta over a three-year period of time.

Standard deviation/Volatility: A statistical measure of the degree to which the Fund's returns have varied from its historical average. The higher the standard deviation, the wider the range of returns from its average and the greater the historical volatility. The standard deviation is calculated over a 36-month period based on Fund's monthly returns. The standard deviation shown is based on the Fund's Class A Shares or the oldest share class, where Class A Shares are not available.

R2: The percentage of a Fund's movements that result from movements in the index ranging from 0 to 100. A Fund with an R2 of 100 means that 100 percent of the Fund's movement can completely be explained by movements in the Fund's external index benchmark.

EPS: Total earnings divided by the number of shares outstanding.

Risk measures are calculated based upon the Funds' broad-based index as stated in the prospectus.