JPMorgan U.S. Large Cap Core Plus Fund

This share class currently has a limited offering, please see prospectus for more details on the offering.


Broaden your opportunity set.

Through its 130/30 strategy, the U.S. Large Cap Core Plus Fund aims to maximize portfolio managers’ insights and provide investors with greater return potential than traditional long-only strategies.

Fund Story   Commentary  



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 Blend Category. Returns shown are for the Select Share class. Other share classes may have higher expenses, which would result in lower returns. Since inception (11/1/2005) with dividend and capital gains reinvested. There is no direct correlation between a hypothetical investment and the anticipated performance of the Fund. The $0 value for benchmark growth is the baseline for the over and under comparison.

Key points

  • Experienced portfolio management team has ability to buy attractive stocks and sell short the stocks they find least attractive.
  • Top-decile performance for the 10-year period.1
  • Competitive risk-adjusted performance: Top-quintile information ratio over the three-, and five-year periods and top-decile information ratio over the 10-year period.2

1 Morningstar as of 3/31/16. Ranked for the following time periods: 1168/1573 for the one-year, 326/1398 for the three-year, 381/1225 for the five-year and 11/893 for the 10-year.
2 Information Ratio: A risk-adjusted performance measure defined as excess return divided by tracking error. This ratio considers the annualized standard deviation of both series (measures of risks inherent in owning either a portfolio or the benchmark). Ranked: 745/1584 funds for the one-year, 232/1493 for the three-year, 248/1378 for the five-year, 15/1203 for the 10-year. Past performance does not guarantee future results.


Diversification through stock ideas

The team’s proven stock-ranking process shows that, over time, stocks ranked highest have surpassed the market while lower-ranked stocks have underperformed. The Fund’s 130/30 strategy allows portfolio managers to act on both positive and negative stock views in an effort to increase portfolio returns. Limited shorting also helps reduce risk and cushion potential losses in down markets.

Traditional portfolios are limited in the number of ways to express an investment insight and deliver a source of alpha. The Fund’s framework allows the portfolio managers to enhance performance by shorting an unattractive idea.


Chart source: J.P. Morgan Asset Management. January 1, 1986 – March 31, 2016. Shown for illustrative purposes only. Quintile performance represents the annualized returns of quintiles vs. the annualized return of the S&P 500 Index over the full time period. Quintile performance results have certain inherent limitations. Unlike an actual performance record, quintile results do not represent actual trading, liquidity constraints, fee schedules and transaction costs. No representation is being made that any portfolio will or is likely to achieve profits or losses similar to those shown. Past performance does not guarantee future results.


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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 S&P 500 Index is an unmanaged index generally representative of the performance of large companies in the U.S. stock market. Index levels are in total return USD. The performance of the index does not reflect the deduction of expenses associated with a fund, such as management fees. By contrast, the performance of the Fund reflects the deduction of the fund expenses, including sales charges if applicable. An individual cannot invest directly in an index.

The performance of the Lipper Alternative Active Extension 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. An individual cannot invest directly in an Index.

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.

©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.
©2016, Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its providers; (2) may not be copied or distributed; (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damage or losses arising from any use of this information. For each fund with a three-year history, Morningstar calculates a Morningstar Rating™ metric each month by subtracting the return on a 90-day U.S. Treasury Bill from the fund's load-adjusted return for the same period, and then adjusting this excess return for risk. The top 10% of funds in each broad asset class 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 fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Past performance is no guarantee of future results. Different share classes may have different ratings.
There is no guarantee that the use of long and short positions will succeed in limiting an investment's exposure to domestic stock market movements, capitalization, sector-swings or other risk factors. Investments in a portfolio involved in long and short selling may have higher portfolio turnover rates. This will likely result in additional tax consequences. Short selling involves certain risks, including additional costs associated with covering short positions and a possibility of unlimited loss on certain short sale positions.

The Fund may use derivatives in connection with its investment strategies to hedge and manage risk and to increase its return. Derivatives may be riskier than other types of investments because they may be more sensitive to changes in economic or market conditions than other types of investments and could result in losses that significantly exceed the Fund's original investment. The Fund will have substantial short positions and must borrow those securities to make delivery to the buyer. The Fund may not always be able to borrow a security it wants to sell short. The Fund also may be unable to close out an established short position at an acceptable price, and may have to sell related long positions at disadvantageous times.
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.