JPMorgan Short Duration Bond Fund
JPMorgan Trust II · Series S000003490 · 4 share classes
data updated 2026-08-17
Fund profile
As filed in the prospectus · 2026 Q2
The Fund seeks current income consistent with preservation of capital through investment in high- and medium-grade fixed income securities.
The fund invests in investment-grade fixed income securities including U.S. Treasuries, government agency mortgage-backed securities, corporate bonds, and asset-backed securities, with a target duration of three years or less. The adviser selects securities through fundamental analysis of credit quality, interest rate risk, liquidity, and transaction structure, and also considers environmental, social and governance factors as part of its risk assessment. Because security selection drives returns, fund performance depends on the adviser's ability to identify outperforming individual securities and sectors. The fund maintains at least 80% of assets in bonds and expects to limit sub-prime mortgage exposure to less than 5%.
| Share class | Gross | Net |
|---|---|---|
| HLLVX | 0.57% | 0.34% |
| OGLVX | 0.82% | 0.59% |
| OSTCX | 1.32% | 1.09% |
| JSDUX | 0.32% | 0.28% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 64.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q1
| Securitized | 52.28% |
| Bonds | 38.69% |
| Cash & short-term | 8.54% |
| Derivatives | -0.00% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: United States of America ×2, Oracle Corp., UBS Group AG, Societe Generale SA, Magnetite XXIII Ltd., Mercury Financial Credit Card Master Trust, National Bank of Canada
Largest exited: Bank of America Corp., Societe Generale SA, FREMF Mortgage Trust, CIFC Funding Ltd., Bank of Nova Scotia (The), Banque Federative du Credit Mutuel SA, Morgan Stanley, United States of America
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Feb 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| — | — | — | — | — | |
| — | — | — | — | — | |
| — | — | — | — | — | |
| — | — | — | — | — |
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-02-28
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 73.8% |
| Floating rate | 26.2% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.7% |
| 1-3y | 34.0% |
| 3-5y | 17.7% |
| 5-10y | 16.6% |
| 10y+ | 30.0% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q1
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying nearly as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 56% |
| Credit spreads | 44% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +1.43 yr |
| High yield | +0.01 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.00 yr | 0% |
| 1 yr | 1.27 yr | 67% |
| 5 yr | 0.62 yr | 33% |
10 yr and 30 yr are NEGATIVE (-0.02 yr, -0.01 yr) — a deliberate hedge at that point on the curve, so they are not part of the band above.
| 3 mo | 0.02 yr | 1% |
| 1 yr | 0.85 yr | 59% |
| 5 yr | 0.57 yr | 39% |
| 10 yr | 0.01 yr | 1% |
| 30 yr | 0.00 yr | 0% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.00 | +0.02 | +0.00 | $22.3k | $0 |
| 1 yr | +1.27 | +0.84 | +0.00 | $1.05m | $4.9k |
| 5 yr | +0.62 | +0.56 | +0.01 | $694.6k | $8.4k |
| 10 yr | -0.02 | +0.01 | +0.00 | $9.6k | $0 |
| 30 yr | -0.01 | +0.00 | +0.00 | $0 | $139 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | United States of America | 5.74% | $711.27M | — |
| — | United States of America3.88% · due 2028-07-15 | 3.08% | $381.74M | — |
| — | United States of America3.50% · due 2028-11-15 | 2.87% | $356.12M | — |
| — | JPMorgan U.S. Government Money Market Fund | 2.69% | $333.14M | — |
| — | United States of America3.50% · due 2028-01-31 | 2.07% | $257.02M | — |
| — | United States of America3.38% · due 2028-09-15 | 1.69% | $210.02M | — |
| — | United States of America3.50% · due 2027-10-31 | 1.50% | $186.33M | — |
| — | United States of America3.38% · due 2027-09-15 | 1.29% | $159.52M | — |
| — | United States of America4.25% · due 2027-03-15 | 1.24% | $153.92M | — |
| — | United States of America0.50% · due 2027-10-31 | 0.76% | $94.37M | — |
Top 10 positions are 22.93% of net assets, top 25 28.07%, across 285 issuers.
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