JPMorgan Global Allocation Fund
JPMorgan Trust I · 8 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
JPMorgan Global Allocation Fund is a moderate allocation fund.
- Asset class
- Allocation (multi-asset)
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Equity exposure
- Moderate
- Features
- Fund of funds
Fund profile
As filed in the prospectus · 2026 Q1
The Fund seeks to maximize long-term total return.
The fund pursues maximum long-term total return through a flexible allocation across global equities, fixed income, and alternatives, with the adviser making tactical decisions based on intermediate-term market outlook. The adviser constructs the portfolio by selecting underlying securities, funds, and derivatives, and expects to invest primarily through J.P. Morgan Funds rather than holding securities directly. The fund maintains at least 30% of assets in non-U.S. countries under normal circumstances and may use derivatives including swaps, futures, and short sales to gain targeted exposure. Because the fund's returns depend on the adviser's allocation decisions and the performance of selected underlying funds, results will diverge from any benchmark.
| Share class | Gross | Net |
|---|---|---|
| GAOAX | 1.20% | 1.03% |
| GAOCX | 1.70% | 1.53% |
| GAOSX | 0.95% | 0.78% |
| GAONX | 1.49% | 1.40% |
| GAOZX | 0.70% | 0.65% |
| GAORX | 1.10% | 0.75% |
| GAOFX | 0.95% | 0.90% |
| GAOTX | 1.22% | 1.15% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 107.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 51.09% |
| Bonds | 32.35% |
| Other | 9.43% |
| Cash & short-term | 6.53% |
| 3 smaller | 1.21% |
Derivatives are shown at market value, not notional exposure.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| International | 26.8% |
| Other | 17.2% |
| Government | 15.9% |
| Information Technology | 8.1% |
| 12 smaller | 32.0% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: United Kingdom of Great Britain and Northern Ireland, United States of America ×2, Sprott Physical Gold Trust, Federal Republic of Germany, Volkswagen Bank GmbH, URI, Roche Holding AG
Largest exited: Hungary, Roche Holding AG, American Airlines, Inc., Linde plc, Westlake Corp., Heidelberg Materials Finance Luxembourg SA, Medline Borrower LP, Petroleos Mexicanos
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 |
|---|---|---|---|---|---|
| +17.06% | +35.73% | +21.11% | 10.94% | -8.39% | |
| +16.48% | +33.77% | +18.16% | 10.89% | -8.47% | |
| +17.37% | +36.76% | +22.66% | 10.93% | -8.32% | |
| +16.65% | +34.26% | +18.91% | 10.96% | -8.42% | |
| +17.53% | +37.35% | +23.47% | 10.98% | -8.27% | |
| +17.44% | +36.88% | +22.85% | 10.93% | -8.26% | |
| +17.25% | +36.33% | +21.91% | 10.97% | -8.33% | |
| +16.95% | +35.26% | +20.41% | 10.93% | -8.37% |
These classes hold the same portfolio, so the 5.31pp spread over 5 years is the cost difference between them — roughly 1.06pp a year — not a difference in what they own.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
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 | 93.2% |
| Floating rate | 6.8% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 13.5% |
| 1-3y | 22.9% |
| 3-5y | 33.1% |
| 5-10y | 20.1% |
| 10y+ | 10.2% |
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 | 68% |
| Credit spreads | 32% |
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 | +0.57 yr |
| High yield | +0.38 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 | 0.09 yr | 4% |
| 1 yr | 0.54 yr | 27% |
| 5 yr | 0.81 yr | 40% |
| 10 yr | 0.41 yr | 20% |
| 30 yr | 0.19 yr | 9% |
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.19 yr | 20% |
| 5 yr | 0.36 yr | 38% |
| 10 yr | 0.28 yr | 29% |
| 30 yr | 0.13 yr | 13% |
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 | +0.09 | +0.00 | +0.00 | $92 | $427 |
| 1 yr | +0.54 | +0.07 | +0.11 | $20.3k | $30.7k |
| 5 yr | +0.81 | +0.11 | +0.25 | $30.8k | $68.4k |
| 10 yr | +0.41 | +0.26 | +0.02 | $70.8k | $4.6k |
| 30 yr | +0.19 | +0.12 | +0.00 | $34.0k | $1.0k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 2.04 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | JPMorgan Prime Money Market Fund | 4.62% | — | $126.53M | — |
| JMSFX | JPMorgan Income FundJMSFX | 3.78% | — | $103.60M | — |
| — | JPMorgan Income ETF | 3.53% | — | $96.68M | — |
| — | United States of America4.13% · due 2027-01-31 | 2.74% | — | $75.12M | — |
| NVDA | NVIDIA Corp.NVDA | 2.38% | $199.57 | $65.15M | 326.5K |
| VSENX | JPMorgan Small Cap Equity FundVSENX | 1.64% | — | $44.85M | — |
| — | Taiwan Semiconductor Manufacturing Co. Ltd. | 1.50% | $69.42 | $41.08M | 591.8K |
| AMZN | Amazon.com, Inc.AMZN | 1.47% | $265.06 | $40.35M | 152.2K |
| AAPL | Apple, Inc.AAPL | 1.16% | $271.35 | $31.66M | 116.7K |
| — | JPMorgan Securities Lending Money Market Fund | 1.14% | — | $31.16M | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
Top 10 positions are 23.95% of net assets, top 25 35.69%, across 1.4K issuers.
See more of this fund's book
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