JPMorgan Core Bond Fund Class R2
JCBZX
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- JPMorgan Core Bond Fund Class R2 (JCBZX) is an open-end investment company that seeks to maximize total return through a diversified portfolio of primarily investment-grade intermediate- and long-term U.S. debt securities. The fund invests at least 80% of its assets in bonds, including corporate bonds; U.S. Treasury obligations; U.S. government and agency securities; asset-backed securities; mortgage-related and mortgage-backed securities, such as agency mortgage-backed (27.5%), non-agency mortgage (3.6%), and commercial mortgage-backed (4.3%); and credit instruments (25.2%), with an average weighted maturity ordinarily ranging from 4 to 12 years and current average duration of 6.16 years. It operates within the intermediate core bond category, benchmarked against the Bloomberg U.S. Aggregate Bond Index, and provides daily pricing with a net expense ratio of 1.09% and no minimum initial investment. Launched on November 3, 2008, and domiciled in the United States, the fund is managed by JPMorgan Asset Management, a division of JPMorgan Chase & Co., with headquarters at 270 Park Avenue, New York, New York; as of September 30, 2025, it holds approximately $51.89 billion in assets under management across share classes, with the R2 class at $48.86 million. Portfolio management is led by Richard Figuly (since 2015), Justin Rucker (since 2019), and newer additions Edward Fitzpatrick and Andrew Melchiorre (both since May 2023), supported by a team of credit analysts emphasizing value-driven security selection and risk management across U.S. investment-grade sectors. Holdings are diversified with 84.46% in U.S. bonds, 10.18% in non-U.S. bonds, and 5.36% cash equivalents; top sectors include agency mortgage-backed (28.87%), corporate bonds (25.63%), and government securities (25.54%), with top holdings such as JPMorgan Prime Money Market Fund, U.S. Treasury Notes, and Federal National Mortgage Association securities. Recent developments include a Morningstar Bronze Medalist Rating as of March 11, 2025, reflecting strong analyst-driven processes (100% coverage); portfolio manager additions in May 2023 to enhance expertise; and sustained performance with a 1-year total return of 5.21% and YTD return of 5.84% as of September 30, 2025, amid a trailing 12-month turnover of 30%. The fund received a fee waiver extension through June 30, 2025, to offset affiliated money market fund expenses, maintaining its net yield profile with a 30-day SEC yield of 3.54% and 12-month rolling dividend yield of 3.42%. No major acquisitions, funding rounds, or strategic alliances specific to the fund were reported in the last 1-2 years, with focus remaining on active management amid interest rate volatility.