JPMorgan Managed Income Fund
Actively managed global bond fund
As of its 2026 Q2 report, JPMorgan Managed Income Fund held 422 positions with $4.88B in net assets. Its ten largest holdings made up 9.9% of the fund. The JMGIX share class costs 0.25% a year. Over the 12 months to May 2026, JMGIX returned 4.2%, with dividends reinvested. In 2026 Q2 it added 111 new positions and exited 99.
The Fund seeks current income while seeking to maintain a low volatility of principal.
The fund invests in investment-grade, U.S. dollar-denominated short-term debt securities including corporate bonds, asset-backed securities, money market instruments, and government securities, with more than 25% concentrated in banking industry issuers. The fund's duration will not exceed one year under normal circumstances. Because the fund concentrates its holdings in the banking industry, it carries heightened exposure to conditions affecting that sector.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
Wells Fargo Securities LLC | 1.23% | $60.00M | — |
United States of America 3.38% · due 2027-12-31 | 1.07% | $52.11M | — |
United States of America 3.38% · due 2027-11-30 | 1.05% | $51.25M | — |
Lloyds Banking Group plc 5.99% floating · due 2027-08-07 | 1.05% | $51.08M | — |
ABN AMRO Bank NV 6.34% floating · due 2027-09-18 | 0.96% | $46.97M | — |
US Bank NA 4.51% floating · due 2027-10-22 | 0.93% | $45.53M | — |
United States of America 3.50% · due 2029-02-15 | 0.92% | $44.86M | — |
Bank of Nova Scotia (The) 5.35% · due 2026-12-07 | 0.92% | $44.65M | — |
Credit Industriel et Commercial | 0.90% | $43.92M | — |
United States of America 3.38% · due 2028-02-29 | 0.89% | $43.55M | — |
The 200 largest of 422 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 | 74.87% |
| Cash & short-term | 14.55% |
| Securitized | 10.45% |
| Derivatives | 0.00% |
Derivatives are shown at market value, not notional exposure.
By sector
- International
- 22.5%
- Other
- 21.1%
- Cash
- 13.3%
- Financials
- 12.9%
- 12 other sectors
- 30.2%
- International
- 22.5%
- Other
- 21.1%
- Cash
- 13.3%
- Financials
- 12.9%
- Securitized
- 10.5%
- Government
- 5.5%
- Utilities
- 4.5%
- Information Technology
- 2.8%
- Industrials
- 1.5%
- Consumer Staples
- 1.5%
- Health Care
- 1.2%
- Real Estate
- 0.8%
- Communication Services
- 0.6%
- Consumer Discretionary
- 0.6%
- Energy
- 0.5%
- Materials
- 0.2%
How it has done
JMGIX share class · total returns with dividends reinvested
Volatility over the last 12 months: 0.43%. Past returns are a record, not a forecast.
The 2 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.25% | +4.22% | +15.75% | +18.68% | 0.00% | |
| 0.40% | +4.06% | +15.35% | +17.92% | 0.00% |
These classes hold the same portfolio, so the 0.77pp spread over 5 years is the cost difference between them — roughly 0.15pp a year — not a difference in what they own.
Fees & fund details
JPMorgan Managed Income Fund is an actively managed global bond fund.
- Asset class
- Bonds
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Investment grade
- Rate sensitivity
- Short duration
- Expense ratio, by class
- 0.25% – 0.40%· JMGIX 0.25%
- Portfolio turnover
- 98.00% a year · as of 2026 Q2
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
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.
111 new· the largest 6
99 exited· the largest 8
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 | 63.7% |
| Floating rate | 36.3% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 33.6% |
| 1-3y | 60.8% |
| 3-5y | 4.6% |
| 5-10y | 1.0% |
| 10y+ | 0.1% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
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.
| Credit spreads | 50% |
| Interest rates | 50% |
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 | +0.77 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 | 0.15 yr | 20% |
| 1 yr | 0.51 yr | 67% |
| 5 yr | 0.10 yr | 13% |
| 3 mo | 0.09 yr | 12% |
| 1 yr | 0.68 yr | 88% |
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 | +0.15 | +0.09 | +0.00 | $45.1k | $0 |
| 1 yr | +0.51 | +0.68 | +0.00 | $332.5k | $0 |
| 5 yr | +0.10 | +0.00 | +0.00 | $0 | $0 |
| 10 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 30 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Understand how this fund fits with the rest.
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