JPMorgan Short Duration Bond Fund
Actively managed U.S. bond fund
As of its 2026 Q2 report, JPMorgan Short Duration Bond Fund held 1,693 positions with $12.91B in net assets. Its ten largest holdings made up 22.4% of the fund. The HLLVX share class costs 0.34% a year. Over the 12 months to May 2026, HLLVX returned 4.0%, with dividends reinvested. In 2026 Q2 it added 101 new positions and exited 89.
The Fund seeks current income consistent with preservation of capital through investment in high- and medium-grade fixed income securities.
The fund invests in investment-grade fixed income securities including U.S. Treasuries, government agency mortgage-backed securities, corporate bonds, and asset-backed securities, with a target duration of three years or less. The adviser selects securities through fundamental analysis of credit quality, interest rate risk, liquidity, and transaction structure, and also considers environmental, social and governance factors as part of its risk assessment. Because security selection drives returns, fund performance depends on the adviser's ability to identify outperforming individual securities and sectors. The fund maintains at least 80% of assets in bonds and expects to limit sub-prime mortgage exposure to less than 5%.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
United States of America | 4.56% | $588.72M | — |
JPMorgan U.S. Government Money Market Fund | 3.95% | $510.41M | — |
United States of America 3.88% · due 2029-04-15 | 3.36% | $434.26M | — |
United States of America 3.88% · due 2028-07-15 | 2.10% | $270.78M | — |
United States of America 3.50% · due 2028-11-15 | 1.90% | $245.52M | — |
United States of America 3.50% · due 2028-01-31 | 1.74% | $224.72M | — |
United States of America 3.50% · due 2027-10-31 | 1.43% | $184.92M | — |
United States of America | 1.24% | $160.45M | — |
United States of America 4.25% · due 2027-03-15 | 1.19% | $153.29M | — |
United States of America 3.38% · due 2027-09-15 | 0.96% | $123.78M | — |
The 200 largest of 1,693 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%.
| Securitized | 49.87% |
| Bonds | 39.89% |
| Cash & short-term | 9.93% |
| Derivatives | -0.00% |
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.
How it has done
HLLVX share class · total returns with dividends reinvested
Volatility over the last 12 months: 1.37%. Past returns are a record, not a forecast.
The 4 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.34% | +3.97% | +15.56% | +12.92% | -0.58% | |
| 0.59% | +3.71% | +14.83% | +11.55% | -0.60% | |
| 1.09% | +3.25% | +13.09% | +8.79% | -0.55% | |
| 0.28% | +4.03% | +15.76% | +13.26% | -0.57% |
These classes hold the same portfolio, so the 4.48pp spread over 5 years is the cost difference between them — roughly 0.90pp a year — not a difference in what they own.
Fees & fund details
JPMorgan Short Duration Bond Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Investment grade
- Rate sensitivity
- Short duration
- Expense ratio, by class
- 0.28% – 1.09%· HLLVX 0.34%
- Portfolio turnover
- 64.00% 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.
101 new· the largest 7
89 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 | 72.6% |
| Floating rate | 27.4% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 3.7% |
| 1-3y | 36.1% |
| 3-5y | 14.5% |
| 5-10y | 15.7% |
| 10y+ | 30.0% |
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 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 | 57% |
| Credit spreads | 43% |
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 | +1.47 yr |
| High yield | +0.02 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 1 yr | 1.36 yr | 68% |
| 5 yr | 0.64 yr | 32% |
| 10 yr | 0.01 yr | 1% |
3 mo and 30 yr are NEGATIVE (-0.02 yr, -0.00 yr) — a deliberate hedge at that point on the curve, so they are not part of the band above.
| 3 mo | 0.02 yr | 1% |
| 1 yr | 0.87 yr | 58% |
| 5 yr | 0.60 yr | 40% |
| 10 yr | 0.01 yr | 0% |
| 30 yr | 0.00 yr | 0% |
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 | +0.02 | +0.00 | $23.3k | $0 |
| 1 yr | +1.36 | +0.86 | +0.02 | $1.11m | $19.9k |
| 5 yr | +0.64 | +0.59 | +0.01 | $758.8k | $11.3k |
| 10 yr | +0.01 | +0.01 | +0.00 | $6.9k | $0 |
| 30 yr | -0.00 | +0.00 | +0.00 | $0 | $132 |
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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