JPMorgan Global Bond Opportunities Fund
JPMorgan Trust I · 4 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
JPMorgan Global Bond Opportunities Fund is an actively managed global bond fund.
- Asset class
- Bonds
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Mixed credit
- Rate sensitivity
- Intermediate duration
Fund profile
As filed in the prospectus · 2026 Q2
The Fund seeks to provide total return.
The fund pursues total return by allocating flexibly across global fixed-income and credit markets, shifting exposure to strategies, sectors, countries, and currencies based on the adviser's assessment of economic conditions and individual securities. It maintains at least 80% in bonds and at least 30% in non-U.S. countries under normal circumstances, with broad discretion to invest in investment-grade and high-yield debt, mortgage-backed securities, emerging-market instruments, and currency derivatives. Because the fund is not managed to a benchmark and the adviser has sole discretion to concentrate holdings in few markets or sectors as conditions warrant, performance may diverge materially from any broad fixed-income index.
| Share class | Gross | Net |
|---|---|---|
| GBOAX | 1.08% | 0.90% |
| GBOCX | 1.58% | 1.30% |
| GBOSX | 0.82% | 0.65% |
| GBONX | 0.58% | 0.50% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 111.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 79.95% |
| Securitized | 9.96% |
| Cash & short-term | 9.21% |
| Loans | 2.33% |
| Stocks | 0.14% |
| Derivatives | -0.53% |
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.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Government | 23.3% |
| International | 22.2% |
| Other | 12.1% |
| Securitized | 9.7% |
| 12 smaller | 32.7% |
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 States of America ×2, GNMA ×2, UniCredit SpA, Republic of South Africa, Republic of Angola, RD Michigan Property Owner I LLC
Largest exited: GNMA ×2, Republic of Indonesia ×3, Morgan Stanley, Federal Republic of Nigeria, Republic of South Africa
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 |
|---|---|---|---|---|---|
| +5.91% | +16.44% | +12.81% | 4.26% | -3.10% | |
| +5.43% | +15.13% | +10.64% | 4.16% | -3.18% | |
| +6.16% | +17.39% | +14.31% | 4.19% | -2.99% | |
| +6.31% | +17.90% | +15.16% | 4.17% | -2.96% |
These classes hold the same portfolio, so the 4.53pp spread over 5 years is the cost difference between them — roughly 0.91pp 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 | 75.5% |
| Floating rate | 23.6% |
| Zero-coupon or unclassified | 0.9% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 3.4% |
| 1-3y | 19.9% |
| 3-5y | 24.1% |
| 5-10y | 28.1% |
| 10y+ | 24.6% |
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 | 61% |
| Credit spreads | 39% |
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 | +2.03 yr |
| High yield | +1.20 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 | 0.01 yr | 0% |
| 1 yr | 1.22 yr | 22% |
| 5 yr | 2.21 yr | 41% |
| 10 yr | 1.98 yr | 37% |
30 yr is NEGATIVE (-0.41 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 1 yr | 0.33 yr | 10% |
| 5 yr | 1.45 yr | 43% |
| 10 yr | 1.13 yr | 33% |
| 30 yr | 0.48 yr | 14% |
3 mo is NEGATIVE (-0.16 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
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 | -0.16 | +0.00 | -$67.9k | $1.9k |
| 1 yr | +1.22 | +0.11 | +0.23 | $45.1k | $94.1k |
| 5 yr | +2.21 | +0.77 | +0.68 | $321.8k | $281.7k |
| 10 yr | +1.98 | +0.96 | +0.17 | $400.6k | $72.1k |
| 30 yr | -0.41 | +0.35 | +0.12 | $147.5k | $51.4k |
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 5.00 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 | Value | Shares |
|---|---|---|---|---|
| — | JPMorgan Prime Money Market Fund | 8.61% | $359.29M | — |
| — | United States of America3.88% · due 2028-03-31 | 3.49% | $145.79M | — |
| — | GNMA5.50% · due 2056-06-15 | 2.41% | $100.62M | — |
| — | GNMA5.00% · due 2056-06-15 | 2.10% | $87.49M | — |
| — | GNMA4.00% · due 2052-08-20 | 1.64% | $68.62M | — |
| — | Canada3.25% · due 2035-06-01 | 1.63% | $68.10M | — |
| — | Federative Republic of Brazil10.00% · due 2031-01-01 | 1.48% | $61.66M | — |
| — | Republic of South Africa9.00% · due 2040-01-31 | 1.35% | $56.36M | — |
| — | United Mexican States8.50% · due 2030-02-28 | 1.28% | $53.60M | — |
| — | FNMA5.50% · due 2055-11-01 | 1.06% | $44.22M | — |
Top 10 positions are 25.06% of net assets, top 25 34.47%, across 782 issuers.
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