Total Return Comparison Calculator - J.P. Morgan Asset Management
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Total Return Comparison Calculator

Evaluating opportunity across the full short-term fixed income spectrum

When considering the risk-reward trade off of different investments, it's critical to understand the relationship between income, price movement and total return. Our total return comparison tool allows you to perform a customized comparison across stable NAV money market funds, floating NAV money market funds and ultra-short bond funds.
  • Stable NAV MMF

  • Floating NAV MMF

  • Ultra-Short Bond Fund

Investment Scenario
This tool is meant for simple scenario analysis, comparing the returns of Stable NAV MMFs, Floating NAV MMFs, and Ultra-Short Bond Funds under changes in yield, NAV movements, and investment horizon. Begin here by selecting an initial investment amount and hypothetical investment time horizon.

Initial Investment ($)
The initial investment amount, and all subsequent investment amounts, are in millions of U.S. Dollars.

MM
1
5000

Holding Period
Holding period is the time for which the investment is made. To begin, click your initial investment date on the calendar and then click the subsequent redemption date. You can also manually enter the dates in the space provided.

Returns
Stable NAV MMF investment return is comprised of coupons and yield. Floating NAV MMF and Ultra-Short Bond Fund investment return includes an added capital appreciation/depreciation factor. The calculation assumes a constant yield and credit spread throughout the investment period.

Stable Nav MMF

Floating Nav MMF

Ultra-short Bond Fund

Initial Investment
The initial investment amount; can be adjusted above. All values in millions of U.S. Dollars.

Stable Nav

Floating Nav

Ultrashort Nav

Principal Change
The principal component of Total Return. Will not apply for Stable NAV MMFs. All values in U.S. Dollars.

Stable Nav

N/A

Floating Nav

Ultrashort Nav

Interest Income
The yield component of Total Return. All values in U.S. Dollars.

Stable Nav

Floating Nav

Ultrashort Nav

Ending Balance
Ending Balance is the sum of the return components above. All values in U.S. Dollars.

Stable Nav

Floating Nav

Ultrashort Nav

Days to Recover Principal Change
If a decrease in an investment's NAV occurs, this is the number of days needed for the principal loss to be offset by yield at the current level. Will not apply for Stable NAV MMFs. All values in days.

Stable Nav

N/A

Floating Nav

Ultrashort Nav

Days to offset a single nav tick
If a decrease in an investment's NAV occurs, this is the number of days needed for one NAV ticket (0.0001% for Floating NAV MMF and 0.001% for Ultra-Short Bond Fund) to be offset by interest income at the current level of interest rates. Will not apply for Stable NAV MMFs. All values in days.

Stable Nav

N/A

Floating Nav

Ultrashort Nav

Difference in total return
The difference in ending balance between two funds.

Floating NAV - Stable NAV
The difference in ending balance between the Floating and Stable NAV MMFs.

Ultra Short - Floating NAV
The difference in ending balance between the Ultra-Short Bond Fund and the Floating NAV MMF.

Ultra Short - Stable NAV
The difference in ending balance between the Ultra-Short Bond Fund and the Stable NAV MMF.

Days Until Total Returns are Equal
Number of days needed for the difference between the two funds' total returns to be equal. This calculation assumes that yields and fund NAVs remain constant.

Floating NAV vs. Stable NAV
If a NAV change results in a loss, this is the number of days needed for the Floating NAV MMF to match the return of the Stable NAV MMF.

Ultra Short vs. Floating NAV
If a NAV change results in a loss, this is the number of days needed for the Ultra-Short Bond Fund to match the return of the Floating NAV MMF.

Ultra Short vs. Stable NAV
If a NAV change results in a loss, this is the number of days needed for the Ultra-Short Bond Fund to match the return off the Stable NAV MMF.

IMPORTANT: Comparing Stable NAV to Floating NAV Investments regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment returns and are not guarantees of future returns. Investment analysis tools are not intended to provide investment advice. This calculator provides analysis based on your input. All results are for illustrative purposes only and are not intended to represent the performance of any JPMorgan Fund and should not be construed as an offer or solicitation to buy or sell securities. Investment analysis tools have limitations; results may vary. An investment in money market funds may not be appropriate for all investors.
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ADDITIONAL RESOURCES


Retail Money Market Funds disclosure

You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

Prime Money Market Fund disclosure

You could lose money by investing in the Fund. Because the share price of the Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. Any gain resulting from the sale or exchange of Fund shares will be taxable as long-term or short-term gain, depending upon how long you have held your shares.

Government Money Market Funds disclosure

You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

Past performance is no guarantee of future results.