JPMorgan Managed Income Fund
JPMorgan Trust I · 2 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
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
Fund profile
As filed in the prospectus · 2026 Q2
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.
| Share class | Gross | Net |
|---|---|---|
| JMGIX | 0.35% | 0.25% |
| JMGLX | 0.50% | 0.40% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 98.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 74.87% |
| Cash & short-term | 14.55% |
| Securitized | 10.45% |
| Derivatives | 0.00% |
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 | 20.9% |
| Other | 19.8% |
| Financials | 15.7% |
| Cash | 13.3% |
| 12 smaller | 30.2% |
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 ×3, Credit Industriel et Commercial, Banco Bilbao Vizcaya Argentaria, ANZ New Zealand Int'l Ltd., RTX Corp., Synopsys, Inc.
Largest exited: Capital One NA, Equitable Financial Life Global Funding, Banque Federative du Credit Mutuel SA, Amur Equipment Finance Receivables XIV LLC, Westlake Corp., Brixmor Operating Partnership LP, Mizuho Financial Group, Inc., NatWest Group plc
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 |
|---|---|---|---|---|---|
| +4.15% | +15.57% | +18.45% | 0.44% | 0.00% | |
| +4.10% | +15.05% | +17.57% | 0.43% | 0.00% |
These classes hold the same portfolio, so the 0.88pp spread over 5 years is the cost difference between them — roughly 0.18pp 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 | 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.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | Wells Fargo Securities LLC | 1.23% | $60.00M | — |
| — | United States of America3.38% · due 2027-12-31 | 1.07% | $52.11M | — |
| — | United States of America3.38% · due 2027-11-30 | 1.05% | $51.25M | — |
| — | Lloyds Banking Group plc5.99% floating · due 2027-08-07 | 1.05% | $51.08M | — |
| — | ABN AMRO Bank NV6.34% floating · due 2027-09-18 | 0.96% | $46.97M | — |
| — | US Bank NA4.51% floating · due 2027-10-22 | 0.93% | $45.53M | — |
| — | United States of America3.50% · 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 America3.38% · due 2028-02-29 | 0.89% | $43.55M | — |
Top 10 positions are 9.92% of net assets, top 25 21.17%, across 233 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.
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