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Trending ETFs

JPMorgan Preferred and Income Securities Fund

mutual fund
JPDRX
Payout Change
Pending
Price as of:
$9.68 +0.0 +0.0%
primary theme
Preferred Stock
share class
R6 (JPDRX) I (JPDIX) C (JPDCX) A (JPDAX)
JPDRX (Mutual Fund)

JPMorgan Preferred and Income Securities Fund

Payout Change
Pending
Price as of:
$9.68 +0.0 +0.0%
primary theme
Preferred Stock
share class
R6 (JPDRX) I (JPDIX) C (JPDCX) A (JPDAX)
JPDRX (Mutual Fund)

JPMorgan Preferred and Income Securities Fund

Payout Change
Pending
Price as of:
$9.68 +0.0 +0.0%
primary theme
Preferred Stock
share class
R6 (JPDRX) I (JPDIX) C (JPDCX) A (JPDAX)

Name

As of 11/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

JPMorgan Preferred and Income Securities Fund

JPDRX | Fund

$9.68

$798 M

5.38%

$0.52

0.65%

Vitals

YTD Return

11.3%

1 yr return

16.1%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$798 M

Holdings in Top 10

23.6%

52 WEEK LOW AND HIGH

$9.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.65%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

$15,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

JPMorgan Preferred and Income Securities Fund

JPDRX | Fund

$9.68

$798 M

5.38%

$0.52

0.65%

JPDRX - Profile

Distributions

  • YTD Total Return 11.3%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 5.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    JPMorgan Preferred and Income Securities Fund
  • Fund Family Name
    JPMorgan Funds
  • Inception Date
    Mar 31, 2022
  • Shares Outstanding
    2000
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Andreas Michalitsianos

Fund Description

The Fund mainly invests in preferred and debt securities believed to be attractively valued relative to credit quality and other investment characteristics. Under normal circumstances, the Fund invests at least 80% of its assets in preferred and debt securities issued by U.S. and non-U.S. issuers and obligors, including traditional preferred securities, hybrid preferred securities that have investment and economic characteristics of both preferred stock and debt securities, floating rate preferred securities, corporate debt securities, convertible securities and contingent convertible securities (“CoCos”). “Assets” means net assets plus the amount of borrowings for investment purposes.The Fund will invest at least 25% of its total assets in the financials sector which includes, among other industries, banking, diversified financials, real estate (including real estate investment trusts (“REITs”) and insurance industries. The Fund has a fundamental policy to concentrate its investments in an industry or group of industries which includes the banking, diversified financials, real estate (including real estate investment trusts (“REITs”)) and insurance industries. This means that the Fund will invest 25% or more of its total assets in these related industries on a combined basis and may invest 25% or more of its total assets in any one of these four industries individually.The Fund may invest in securities in both U.S. and foreign markets. The Fund has discretion to focus its investments in one or more regions or small groups of countries including both U.S. and foreign markets including European markets. In addition, the Fund may invest a significant amount of its assets in securities rated below investment grade or unrated securities deemed by the adviser to be of comparable quality (also known as junk bonds or high yield bonds) and securities denominated in foreign currencies (some of which may be below investment grade securities). The Fund’s investments in high yield securities may include so-called “distressed debt.” Distressed debt includes securities of issuers experiencing financial or operating difficulties, securities where the issuer has defaulted in the payment of interest or principal or in the performance of its covenants or agreements, securities of issuers that may be involved in bankruptcy proceedings, reorganizations or financial restructurings or securities of issuers operating in troubled industries.As part of the Fund’s principal investment strategy, the adviser seeks to manage distributions throughout the year to help reduce fluctuations in monthly dividends. As part of the Fund’s principal investment strategy, the Fund may invest in securities structured as equity or debt securities of master limited partnerships (MLPs), private placements, restricted securities and other unregistered securities, sovereign obligations, trust preferreds, U.S. Government Agency Securities and Obligations, variable and floating rate instruments, and zero-coupon, pay-in-kind and deferred payment securities.In addition to direct investments in securities, derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund may use futures contracts, options, swaps, credit derivatives and currency derivatives as tools in the management of portfolio assets. The Fund may use derivatives to hedge various investments, for risk management and/or to increase income or gain to the Fund. In particular, the Fund may invest in futures and swaps structured as interest rate swaps and total return swaps for duration or hedging purposes or to gain or limit exposure to securities or markets. In addition, the Fund may use swaps structured as credit default swaps related to individual securities indexes of securities to gain or limit exposure to securities, to mitigate risk exposure, and manage cash flows. The Fund may also utilize foreign currency derivatives such as currency forwards, futures, and foreign exchange swaps to hedge its non-dollar investments back to the U.S. dollar, but may not always do so.As part of its principal investment strategy and for temporary defensive purposes, any portion of the Fund’s total assets may be invested in cash and cash equivalents.Investment Process – The adviser buys and sells investments for the Fund using a three part process that includes determining: (1) macro credit strategy, (2) sector strategy, and (3) security strategy. In establishing the Fund’s macro credit strategy, the adviser evaluates fundamental, technical and valuation factors, along with macro themes from the adviser’s broader fixed income team, to determine the view on risk for the Fund overall. In the second component of the process, the adviser evaluates sectors based on a blend of top down analysis, including relative value judgments, and bottom up fundamental analysis of companies and their respective sectors to determine sector weightings. The third component of the process (also known as the security strategy) focuses on an evaluation of individual companies based on fundamental credit metrics, as well as a review of each company’s competitive environment, regulatory risks, bond structure and credit ranking, event risk, relative value and technical factors such as supply, liquidity of debt issued by the company and equity performance, as applicable. As part of its evaluation of individual companies, the adviser seeks to assess the impact of environmental, social and governance (ESG) factors on many issuers in the universe in which the Fund may invest. The adviser’s assessment is based on an analysis of key opportunities and risks across industries to seek to identify financially material issues with respect to the Fund’s investments in issuers and ascertain key issues that merit engagement with issuers. These assessments may not be conclusive and securities of issuers that may be negatively impacted by such factors may be purchased and retained by the Fund while the Fund may divest or not invest in securities of issuers that may be positively impacted by such factors.
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JPDRX - Performance

Return Ranking - Trailing

Period JPDRX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.3% 3.9% 17.8% 15.38%
1 Yr 16.1% 8.8% 30.9% 28.21%
3 Yr N/A* -7.4% 6.6% N/A
5 Yr N/A* -4.9% 11.2% N/A
10 Yr N/A* 0.7% 5.1% N/A

* Annualized

Return Ranking - Calendar

Period JPDRX Return Category Return Low Category Return High Rank in Category (%)
2023 2.2% -3.6% 14.2% 21.79%
2022 N/A -29.4% -9.6% N/A
2021 N/A -3.4% 17.2% N/A
2020 N/A -24.8% 9.0% N/A
2019 N/A 6.4% 19.1% N/A

Total Return Ranking - Trailing

Period JPDRX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.3% 3.9% 17.8% 15.38%
1 Yr 16.1% 8.8% 30.9% 28.21%
3 Yr N/A* -7.4% 6.6% N/A
5 Yr N/A* -4.9% 11.2% N/A
10 Yr N/A* 0.7% 5.1% N/A

* Annualized

Total Return Ranking - Calendar

Period JPDRX Return Category Return Low Category Return High Rank in Category (%)
2023 8.7% -1.9% 26.5% 21.79%
2022 N/A -26.0% -5.8% N/A
2021 N/A -2.5% 27.4% N/A
2020 N/A -19.2% 12.3% N/A
2019 N/A 10.0% 32.0% N/A

NAV & Total Return History

JPDRX - Holdings

Concentration Analysis

JPDRX Category Low Category High JPDRX % Rank
Net Assets 798 M 24.1 M 14.5 B 58.97%
Number of Holdings 132 49 439 80.77%
Net Assets in Top 10 231 M 13.2 M 1.89 B 50.00%
Weighting of Top 10 23.59% 11.3% 48.1% 24.36%

Top 10 Holdings

  1. JPMorgan Prime Money Market Fund, Class IM 3.81%
  2. Wells Fargo Co., Series BB 3.00%
  3. PNC Financial Services Group, Inc. (The), Series T 2.65%
  4. UBS Group AG 2.32%
  5. Banco Bilbao Vizcaya Argentaria SA 2.14%
  6. Truist Financial Corp., Series N 2.11%
  7. Bank of America Corp., Series RR 1.97%
  8. BNP Paribas SA 1.89%
  9. Banco Santander SA 1.86%
  10. Goldman Sachs Group, Inc. (The), Series X 1.84%

Asset Allocation

Weighting Return Low Return High JPDRX % Rank
Bonds 		91.44% 0.00% 97.75% 15.38%
Cash 		4.39% -0.02% 11.04% 12.82%
Preferred Stocks 		3.70% 0.00% 125.69% 85.90%
Stocks 		0.00% 0.00% 41.20% 46.15%
Other 		0.00% -4.41% 10.15% 29.49%
Convertible Bonds 		0.00% 0.00% 31.65% N/A

Bond Sector Breakdown

Weighting Return Low Return High JPDRX % Rank
Cash & Equivalents 		3.81% 0.00% 11.04% 14.10%
Derivative 		0.00% -0.56% 9.46% 29.49%
Securitized 		0.00% 0.00% 0.00% N/A
Corporate 		0.00% 62.31% 100.00% N/A
Municipal 		0.00% 0.00% 0.00% N/A
Government 		0.00% 0.00% 21.71% N/A

Bond Geographic Breakdown

Weighting Return Low Return High JPDRX % Rank
US 		91.44% 0.00% 97.61% 6.41%
Non US 		0.00% 0.00% 22.53% 43.59%

JPDRX - Expenses

Operational Fees

JPDRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.65% 0.05% 4.46% 80.52%
Management Fee 0.50% 0.00% 1.00% 16.67%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.08% 0.01% 0.55% 60.00%

Sales Fees

JPDRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

JPDRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

JPDRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 12.00% 199.00% N/A

JPDRX - Distributions

Dividend Yield Analysis

JPDRX Category Low Category High JPDRX % Rank
Dividend Yield 5.38% 0.00% 9.59% 53.85%

Dividend Distribution Analysis

JPDRX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

JPDRX Category Low Category High JPDRX % Rank
Net Income Ratio N/A 0.88% 7.54% N/A

Capital Gain Distribution Analysis

JPDRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

JPDRX - Fund Manager Analysis

Managers

Andreas Michalitsianos

Start Date

Tenure

Tenure Rank

Mar 31, 2022

0.17

0.2%

Andreas Michalitsianos, executive director, is a member of the Global Fixed Income, Currency & Commodities (GFICC) group. Based in London, he is a portfolio manager within the European Investment Grade Corporate Credit Team and is responsible for managing credit exposure across client portfolios. An employee since 2002, Andreas previously worked as a portfolio manager in the Long Duration group in New York. He received a B.Sc. (Hons.) in biochemistry from the University of Warwick in England and is a CFA charterholder.

Vikas Pathani

Start Date

Tenure

Tenure Rank

Mar 31, 2022

0.17

0.2%

Mr. Pathani has been an employee of JPMIM or its affiliates since 2004. He is a member of the GFICC group and a portfolio manager on the Global Investment Grade Corporate Credit team, focusing on financials and hybrid capital, which includes subordinated debt, preferred stock and other capital securities.

Lisa Coleman

Start Date

Tenure

Tenure Rank

Mar 31, 2022

0.17

0.2%

Lisa Coleman, managing director, is the head of the Global Investment Grade Corporate Credit team in the Global Fixed Income, Currency & Commodities (GFICC) group. Prior to joining the firm in 2008, Lisa was at Schroders Investment Management for eight years, serving as the head of Global Credit Strategies and the head of European Fixed Income. Previously, she was at Allmerica Financial for six years, managing core and corporate bond portfolios.  Before this, Lisa was Deputy Manager of Global Fixed Income at Brown Brothers Harriman for five years, managing corporate bond, asset-backed security, mortgage-backed security and government bond portfolios.  Prior Brown Brothers Harriman, Lisa worked at Merrill Lynch in foreign exchange sales and at Travelers Insurance Company as an analyst and portfolio manager. Lisa began her career at the Federal Reserve Bank of New York, holding roles in the foreign exchange and foreign relations departments.  Lisa holds a B.A. in economics from Trinity College, Hartford, Connecticut and a M.A. in international banking and finance from the School of International and Public Affairs at Columbia University, New York.  In addition, she is a CFA charterholder and holds the Investment Management Certificate from the UK Society of Investment Professionals.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 30.32 7.8 11.42

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