JPMorgan Income Builder Fund
JPMorgan Trust I · 4 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
JPMorgan Income Builder Fund is a conservative allocation fund.
- Asset class
- Allocation (multi-asset)
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Equity exposure
- Conservative
- Features
- Fund of funds
Fund profile
As filed in the prospectus · 2026 Q1
The Fund seeks to maximize income while maintaining prospects for capital appreciation.
The fund seeks to maximize income while maintaining capital appreciation by investing across a broad range of debt and equity securities globally, with significant manager discretion to allocate among asset classes and strategies based on relative value and income generation. The portfolio may include up to 70% in below-investment-grade debt securities, up to 60% in equities, up to 35% in loans and loan commitments, and up to 25% in preferred and convertible securities, along with derivatives used to manage duration, credit, and currency exposure. The fund invests in other J.P. Morgan Funds and passive ETFs rather than holding underlying securities directly, selecting J.P. Morgan Funds without canvassing unaffiliated alternatives and using unaffiliated passive ETFs only when J.P. Morgan equivalents are unavailable. Active and frequent trading may result in high portfolio turnover.
| Share class | Gross | Net |
|---|---|---|
| JNBAX | 1.06% | 0.75% |
| JNBCX | 1.56% | 1.25% |
| JNBSX | 0.81% | 0.60% |
| JNBZX | 0.56% | 0.52% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 113.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 41.55% |
| Stocks | 33.78% |
| Other | 9.66% |
| Securitized | 8.86% |
| 2 smaller | 7.00% |
| Derivatives | -0.32% |
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
| Other | 28.1% |
| International | 24.6% |
| Securitized | 8.8% |
| Financials | 7.4% |
| 12 smaller | 31.1% |
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: Morgan Stanley Finance LLC, Royal Bank of Canada, Goldman Sachs International, GOOGL, GNMA, Societe Generale SA, Nexstar Media, Inc., BNP Paribas Issuance BV
Largest exited: JPMorgan Income ETF, Royal Bank of Canada, Barclays Bank plc, Goldman Sachs International, Cooper-Standard Automotive, Inc., Roche Holding AG, FHLMC, Expand Energy Corp.
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 |
|---|---|---|---|---|---|
| +16.40% | +33.12% | +25.71% | 6.66% | -6.41% | |
| +15.76% | +31.09% | +22.52% | 6.64% | -6.56% | |
| +16.54% | +33.64% | +26.60% | 6.66% | -6.36% | |
| +16.63% | +33.96% | +27.12% | 6.71% | -6.34% |
These classes hold the same portfolio, so the 4.60pp spread over 5 years is the cost difference between them — roughly 0.92pp 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 | 68.9% |
| Floating rate | 30.7% |
| Zero-coupon or unclassified | 0.4% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 16.8% |
| 1-3y | 15.8% |
| 3-5y | 22.9% |
| 5-10y | 23.7% |
| 10y+ | 20.7% |
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 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 | 64% |
| Credit spreads | 36% |
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.
| High yield | +1.28 yr |
| Investment grade | +0.34 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 | 0.06 yr | 2% |
| 1 yr | 1.16 yr | 40% |
| 5 yr | 1.43 yr | 50% |
| 10 yr | 0.17 yr | 6% |
| 30 yr | 0.07 yr | 2% |
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.26 yr | 16% |
| 5 yr | 0.85 yr | 52% |
| 10 yr | 0.32 yr | 20% |
| 30 yr | 0.19 yr | 11% |
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 | +0.06 | +0.00 | +0.00 | $1.5k | $4.3k |
| 1 yr | +1.16 | +0.05 | +0.21 | $41.7k | $182.7k |
| 5 yr | +1.43 | +0.12 | +0.72 | $108.1k | $633.5k |
| 10 yr | +0.17 | +0.14 | +0.18 | $125.2k | $156.4k |
| 30 yr | +0.07 | +0.02 | +0.16 | $19.0k | $143.6k |
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 2.89 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 Nasdaq Equity Premium Income ETF | 9.66% | — | $844.40M | — |
| — | JPMorgan Prime Money Market Fund | 2.27% | — | $198.81M | — |
| — | JPMorgan Securities Lending Money Market Fund | 1.57% | — | $137.42M | — |
| — | Taiwan Semiconductor Manufacturing Co. Ltd. | 1.19% | $69.42 | $104.36M | 1.5M |
| — | United States of America4.13% · due 2027-01-31 | 0.91% | — | $79.81M | — |
| AVGO | Broadcom, Inc.AVGO | 0.79% | $417.43 | $69.31M | 166.0K |
| MSFT | Microsoft Corp.MSFT | 0.74% | $407.78 | $64.39M | 157.9K |
| JIMXX | JPMorgan Prime Money Market FundJIMXX | 0.42% | — | $36.98M | — |
| — | CCO Holdings LLC4.75% · due 2030-03-01 | 0.42% | — | $36.65M | — |
| — | ASML Holding NV | 0.37% | $1,445.55 | $32.58M | 22.5K |
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 18.36% of net assets, top 25 22.94%, across 1.4K issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
Sign in free