JPMorgan Core Bond Fund
JPMorgan Trust II · Series S000003477 · 8 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2026 Q2
The Fund seeks to maximize total return by investing primarily in a diversified portfolio of intermediate- and long-term debt securities.
The fund invests in a diversified portfolio of investment-grade intermediate- and long-term debt securities, including corporate bonds, U.S. Treasuries, agency securities, and mortgage-backed securities, with at least 80% of assets in core bonds (U.S. dollar-denominated, taxable, investment-grade). The adviser selects securities through fundamental analysis of individual issuers and market sectors, evaluating interest rate risk, credit risk, duration, liquidity, and structure, and considers environmental, social and governance factors as part of its risk assessment. The fund's average weighted maturity ordinarily ranges between four and 12 years but may vary under certain market conditions or for temporary defensive purposes. Because security selection depends on the adviser's assessments of individual issuers and market conditions, fund performance will diverge from any benchmark.
| Share class | Gross | Net |
|---|---|---|
| WOBDX | 0.58% | 0.45% |
| PGBOX | 0.84% | 0.70% |
| OBOCX | 1.34% | 1.20% |
| JCBUX | 0.34% | 0.30% |
| JCBRX | 0.44% | 0.40% |
| JCBZX | 1.10% | 1.05% |
| JCBPX | 0.84% | 0.80% |
| JCBQX | 0.59% | 0.55% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 33.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 58.76% |
| Securitized | 39.39% |
| Cash & short-term | 1.74% |
| Loans | 0.07% |
| Derivatives | 0.05% |
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 ×3, FNMA/FHLMC, Liberty 2026- Srt Frn, FNMA ×2, BCAP LLC Trust
Largest exited: United States of America ×3, FNMA/FHLMC ×2, FNMA ×3
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +4.00% | +11.38% | +2.74% | 3.63% | -6.10% | |
| +3.74% | +10.53% | +1.46% | 3.63% | -6.21% | |
| +3.14% | +8.64% | -1.39% | 3.69% | -6.54% | |
| +4.16% | +11.91% | +3.60% | 3.72% | -6.01% | |
| +4.07% | +11.62% | +3.08% | 3.64% | -6.08% | |
| +3.29% | +9.41% | -0.28% | 3.73% | -6.29% | |
| +3.66% | +10.32% | +1.06% | 3.53% | -6.27% | |
| +3.93% | +10.89% | +2.10% | 3.64% | -6.15% |
These classes hold the same portfolio, so the 4.99pp spread over 5 years is the cost difference between them — roughly 1.00pp a year — not a difference in what they own.
May 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.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
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 | 73.3% |
| Floating rate | 18.1% |
| Zero-coupon or unclassified | 8.6% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 3.1% |
| 1-3y | 11.9% |
| 3-5y | 12.3% |
| 5-10y | 31.0% |
| 10y+ | 41.6% |
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 about half 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 | 65% |
| Credit spreads | 35% |
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 | +3.14 yr |
| High yield | +0.12 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 1 yr | 0.54 yr | 9% |
| 5 yr | 1.65 yr | 27% |
| 10 yr | 2.35 yr | 39% |
| 30 yr | 1.54 yr | 25% |
3 mo is NEGATIVE (-0.01 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.23 yr | 7% |
| 5 yr | 1.16 yr | 36% |
| 10 yr | 1.33 yr | 41% |
| 30 yr | 0.53 yr | 16% |
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 | -0.01 | +0.01 | +0.00 | $41.9k | $888 |
| 1 yr | +0.54 | +0.18 | +0.05 | $972.2k | $248.1k |
| 5 yr | +1.65 | +1.09 | +0.07 | $5.76m | $356.5k |
| 10 yr | +2.35 | +1.32 | +0.00 | $7.00m | $14.6k |
| 30 yr | +1.54 | +0.53 | +0.00 | $2.82m | $489 |
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 America4.50% · due 2033-11-15 | 2.35% | $1.24B | — |
| — | United States of America4.00% · due 2034-02-15 | 1.80% | $951.24M | — |
| — | JPMorgan Prime Money Market Fund | 1.74% | $917.08M | — |
| — | United States of America3.88% · due 2034-08-15 | 1.51% | $798.79M | — |
| — | United States of America1.25% · due 2028-06-30 | 1.40% | $739.32M | — |
| — | United States of America2.88% · due 2029-04-30 | 1.13% | $597.19M | — |
| — | United States of America0.00% · due 2031-08-15 | 0.86% | $456.81M | — |
| — | United States of America3.63% · due 2043-08-15 | 0.85% | $450.97M | — |
| — | United States of America4.25% · due 2034-11-15 | 0.85% | $446.99M | — |
| — | United States of America3.88% · due 2029-04-15 | 0.74% | $389.33M | — |
Top 10 positions are 13.23% of net assets, top 25 20.80%, across 656 issuers.
See more of this fund's book
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