JNL/DoubleLine Core Fixed Income Fund
Actively managed U.S. bond fund
As of its 2026 Q2 report, JNL/DoubleLine Core Fixed Income Fund held 1,592 positions with $2.38B in net assets. Its ten largest holdings made up 19.4% of the fund. Its share classes cost 0.48%–0.78% a year. Over the 12 months to May 2026, it returned 4.7%, with dividends reinvested. In 2026 Q2 it added 226 new positions and exited 211.
The investment objective of the Fund is to seek to maximize current income and total return.
The fund invests at least 80% of assets in fixed-income securities of varying maturities, including government and corporate bonds, mortgage-backed securities, asset-backed securities, bank loans, and emerging market debt, with up to 33⅓% in high-yield securities. The portfolio manager targets a weighted average effective duration between two and eight years, using derivatives including swaps, futures, and options to manage interest rate sensitivity. The fund may allocate up to 30% to foreign-currency-denominated securities and up to 30% to emerging market instruments, and may invest up to 10% in preferred stock and convertible securities.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
Treasury, United States Department of 0.88% · due 2030-11-15 | 4.27% | $101.71M | — |
Treasury, United States Department of 1.13% · due 2040-08-15 | 3.48% | $83.02M | — |
Treasury, United States Department of 0.63% · due 2030-08-15 | 2.69% | $64.11M | — |
Treasury, United States Department of 0.63% · due 2030-05-15 | 2.67% | $63.65M | — |
Treasury, United States Department of 1.88% · due 2041-02-15 | 1.93% | $46.08M | — |
Federal Home Loan Mortgage Corporation 6.00% · due 2054-12-01 | 0.98% | $23.28M | — |
Federal National Mortgage Association, Inc. 5.50% · due 2054-10-01 | 0.96% | $22.87M | — |
Federal Home Loan Mortgage Corporation 3.00% · due 2052-05-01 | 0.82% | $19.62M | — |
JNL Government Money Market Fund | 0.81% | $19.21M | — |
Federal National Mortgage Association, Inc. 2.50% · due 2051-08-01 | 0.77% | $18.27M | — |
The 200 largest of 1,592 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 49.18% |
| Securitized | 46.63% |
| Loans | 2.53% |
| Cash & short-term | 1.10% |
| Stocks | 0.00% |
| Derivatives | -0.04% |
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.
By sector
- Securitized
- 46.8%
- Government
- 23.7%
- Other
- 16.5%
- Utilities
- 3.2%
- 12 other sectors
- 9.8%
- Securitized
- 46.8%
- Government
- 23.7%
- Other
- 16.5%
- Utilities
- 3.2%
- Financials
- 2.6%
- Industrials
- 1.3%
- Cash
- 1.1%
- Health Care
- 0.9%
- Communication Services
- 0.8%
- Information Technology
- 0.6%
- Consumer Discretionary
- 0.6%
- International
- 0.6%
- Energy
- 0.6%
- Real Estate
- 0.4%
- Consumer Staples
- 0.2%
- Materials
- 0.1%
How it has done
C000004643 share class · total returns with dividends reinvested
Volatility over the last 12 months: 3.30%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
This fund changed legal form during the period shown. The history above is continuous — it spans both eras, and the change is not a gap in reporting.
Fees & fund details
JNL/DoubleLine Core Fixed Income Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Mixed credit
- Rate sensitivity
- Intermediate duration
- Expense ratio, by class
- 0.48% – 0.78%
- Portfolio turnover
- 41.00% a year · as of 2026 Q2
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
226 new· the largest 6
211 exited· the largest 8
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
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 | 82.9% |
| Floating rate | 17.1% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.9% |
| 1-3y | 9.6% |
| 3-5y | 22.2% |
| 5-10y | 20.6% |
| 10y+ | 45.7% |
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 2026Q2
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 | 60% |
| Credit spreads | 40% |
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 | +3.04 yr |
| High yield | +0.80 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 | 1.07 yr | 19% |
| 1 yr | 0.29 yr | 5% |
| 5 yr | 0.99 yr | 17% |
| 10 yr | 1.63 yr | 29% |
| 30 yr | 1.74 yr | 30% |
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.17 yr | 4% |
| 5 yr | 0.79 yr | 21% |
| 10 yr | 1.27 yr | 33% |
| 30 yr | 1.60 yr | 42% |
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 | +1.07 | +0.00 | +0.00 | $185 | $905 |
| 1 yr | +0.29 | +0.11 | +0.06 | $25.8k | $14.9k |
| 5 yr | +0.99 | +0.53 | +0.26 | $126.6k | $62.8k |
| 10 yr | +1.63 | +0.96 | +0.31 | $227.8k | $75.0k |
| 30 yr | +1.74 | +1.45 | +0.15 | $344.7k | $36.5k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
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