JPMorgan Preferred and Income Securities Fund
Actively managed global bond fund
As of its 2026 Q2 report, JPMorgan Preferred and Income Securities Fund held 195 positions with $2.23B in net assets. Its ten largest holdings made up 21.0% of the fund. The JPDRX share class costs 0.57% a year. Over the 12 months to May 2026, JPDRX returned 7.8%, with dividends reinvested. In 2026 Q2 it added 26 new positions and exited 8.
The Fund seeks to provide a high level of current income and total return.
The fund invests in preferred and debt securities selected through a three-part process evaluating macro credit conditions, sector relative value, and individual security fundamentals including credit metrics, competitive position, and ESG factors. It maintains at least 25% of assets in financials-sector securities (banking, diversified financials, real estate, and insurance) and may hold significant allocations to below-investment-grade and foreign-currency securities, distressed debt, and derivatives including swaps and currency forwards. The fund is concentrated in the financials sector and related industries, meaning it will hold 25% or more of total assets in these combined industries and may hold 25% or more in any single industry within that group.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
Invesco Preferred ETF | 3.36% | $74.81M | — |
UBS Group AG 9.25% floating · due 2033-11-13 | 2.62% | $58.36M | — |
Banco Santander SA 9.63% floating · due 2033-05-21 | 2.27% | $50.68M | — |
HSBC Holdings plc 4.60% floating · due 2030-12-17 | 2.06% | $45.93M | — |
Wells Fargo & Co. 6.13% floating · due 2031-06-15 | 2.01% | $44.74M | — |
JIMXXJPMorgan Prime Money Market Fund | 1.86% | $41.52M | — |
BNP Paribas SA 7.75% floating · due 2029-08-16 | 1.81% | $40.31M | — |
Charles Schwab Corp. (The) 4.00% floating · due 2030-12-01 | 1.70% | $37.86M | — |
ING Groep NV 8.00% floating · due 2030-05-16 | 1.68% | $37.53M | — |
PNC Financial Services Group, Inc. (The) 3.40% floating · due 2026-09-15 | 1.58% | $35.30M | — |
All 195 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 | 83.31% |
| Stocks | 11.00% |
| Other | 3.36% |
| Cash & short-term | 1.86% |
By sector
- Financials
- 42.5%
- International
- 25.8%
- Other
- 13.4%
- Utilities
- 10.9%
- 5 other sectors
- 7.4%
- Financials
- 42.5%
- International
- 25.8%
- Other
- 13.4%
- Utilities
- 10.9%
- Cash
- 1.9%
- Energy
- 1.9%
- Government
- 1.8%
- Communication Services
- 1.6%
- Consumer Discretionary
- 0.2%
How it has done
JPDRX share class · total returns with dividends reinvested
Volatility over the last 12 months: 3.48%. Past returns are a record, not a forecast.
Jun 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.
The 4 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.57% | +7.80% | +33.37% | — | -3.70% | |
| 0.87% | +7.59% | +32.32% | — | -3.77% | |
| 0.62% | +7.86% | +33.17% | — | -3.71% | |
| 1.37% | +7.28% | +30.52% | — | -3.89% |
These classes hold the same portfolio, so the 2.85pp spread over 3 years is the cost difference between them — roughly 0.95pp a year — not a difference in what they own.
Fees & fund details
JPMorgan Preferred and Income Securities 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
- Expense ratio, by class
- 0.57% – 1.37%· JPDRX 0.57%
- Portfolio turnover
- 32.00% a year · as of 2025 Q4
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.
26 new· the largest 7
8 exited· the largest 6
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Floating rate | 96.0% |
| Fixed rate | 4.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 8.4% |
| 1-3y | 12.1% |
| 3-5y | 26.9% |
| 5-10y | 22.3% |
| 10y+ | 30.3% |
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
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying nearly 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 | 50% |
| Credit spreads | 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 | +3.32 yr |
| High yield | +1.41 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 | 0.02 yr | 0% |
| 1 yr | 0.48 yr | 10% |
| 5 yr | 1.83 yr | 38% |
| 10 yr | 1.30 yr | 27% |
| 30 yr | 1.13 yr | 24% |
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.21 yr | 4% |
| 5 yr | 1.86 yr | 39% |
| 10 yr | 1.16 yr | 24% |
| 30 yr | 1.49 yr | 32% |
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 | +0.02 | +0.01 | +0.00 | $1.6k | $405 |
| 1 yr | +0.48 | +0.08 | +0.13 | $18.6k | $28.1k |
| 5 yr | +1.83 | +1.30 | +0.56 | $289.0k | $125.6k |
| 10 yr | +1.30 | +0.90 | +0.26 | $200.7k | $57.3k |
| 30 yr | +1.13 | +1.03 | +0.46 | $228.8k | $103.1k |
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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