JPMORGAN HIGH YIELD FUND
Income potential with high yield.
Driven by macro insights and bottom-up fundamental credit research, the High Yield Fund aims to deliver greater income and return potential than core bond holdings, with lower risk than stocks.
- Experienced management team has worked together through multiple market cycles over 28 years, including three recessions.
- Combines bottom-up analysis with top-down insight to actively manage credit profile against market risk.
- Consistently delivered lower volatility vs. its benchmark over the long term.
- Top-quartile performance 91% of the time vs. Morningstar High Yield Category over rolling 10-year periods.1
ROLLING 10-YEAR PERCENTILE RETURN RANKING
1Select Shares; High-yield bond category; Bloomberg Barclays U.S. Corporate High Yield-2% Issuer Capped Index. Rolling 10-year periods since fund inception (11/13/1998), as of 12/31/16. Ranked as follows: 1-yr. (324/707), 3-yrs. (233/602), 5-yrs. (190/477) and 10-yrs. (78/319).
Chart source: Morningstar; as of 12/31/16. Shown for illustrative purposes only; calculated using monthly returns since 12/1/08 – 12/31/16. Past performance is no guarantee of future results.
Management and Commentary
- Uncertified Portfolio Holdings - High Yield Fund
- Quarterly Product Guide
- Leveraged Credit Mutual Fund Commentary
- Supplemental Data Sheet - High Yield Fund
- Sales Charge / Dealer Concession Schedule
- 2016 JPMorgan Funds Capital Gains Distribution
- Quarterly Certified Holdings - JPMorgan High Yield Fund
- Additional Information
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 10/31/2018. "Total reductions" includes all applicable fee waivers and expense reimbursements.
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.
Mutual funds have fees that reduce their performance: indexes do not. You cannot invest directly in an index.
The Bloomberg Barclays U.S. Corporate High Yield - 2% Issuer Capped Index is comprised of fixed rate, non-investment grade debt securities that are dollar denominated and non-convertible. The index limits the maximum exposure to any one issuer to 2%.
The performance of the Lipper High Yield Bond 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.
Â©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.
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.
Securities rated below investment grade are considered "high-yield," "non-investment grade," "below investment-grade," or "junk bonds." They generally are rated in the fifth or lower rating categories of Standard & Poor's and Moody's Investors Service. Although they can provide higher yields than higher rated securities, they can carry greater risk.
Investments in derivatives may be riskier than other types of investments. They may be more sensitive to changes in economic or market conditions than other types of investments. Many derivatives create leverage, which could lead to greater volatility and losses that significantly exceed the original investment.
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.
The rate of return anticipated on a bond if it is held until the maturity date.
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.