JNL/Morningstar Wide Moat Index Fund
Data updated: 2026-08-26
C000202646 — JNL/Morningstar Wide Moat Index Fund. United States Mid Cap Value Equity · $569.61M AUM. Holdings, fees, performance and SEC filings.
C000202646 Fund Overview
JNL/Morningstar Wide Moat Index Fund is a US mutual fund managed by JNL Series Trust, categorised as United States Mid Cap Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: JNL Series Trust
- Category: United States Mid Cap Value Equity
- Assets under management: $569.61M
- 1-year return: 12.5%
- SEC CIK: 0000933691
- SEC series ID: S000062464
- Share class ID: C000202646
C000202646 Investment Objective and Strategy
JNL/Morningstar Wide Moat Index Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by JNL Series Trust.
Investment objective
The investment objective of the Fund is to provide total return by tracking the performance, net of expenses, of the Morningstar Wide Moat Focus Index SM .
Principal investment strategy
The Fund seeks to invest under normal circumstances at least 80% of its assets (net assets plus the amount of any borrowings for investment purposes) in the securities in the Morningstar Wide Moat Focus Index SM (Index). The Fund attempts to replicate the Index by investing all or substantially all of its assets in the stocks that make up the Index. The Index is equal weighted and provides exposure to companies with Morningstar Economic Moat Ratings of Wide that are trading at the lowest current market price/fair value ratios. Moat ratings and fair value estimates are determined through independent research conducted by the Morningstar Equity Research team (Morningstar Research). Wide-moat companies are those in which Morningstar Research has very high confidence that excess returns will remain for 10 years, with excess returns more likely than not to remain for at least 20 years.
An economic moat is a structural feature that allows a firm to sustain excess profits over a long period of time. Morningstar Research defines excess profits as returns on invested capital (ROICs), above their estimate of a firms cost of capital, or weighted average cost of capital (WACC). Without a moat, profits are more susceptible to competition. Morningstar Research has identified five sources of economic moats: intangible assets, switching costs, network effect, cost advantage, and efficient scale. To assess the sustainability of excess profits, analysts perform ongoing assessments of what Morningstar Research calls the moat trend. A firms moat trend is positive in cases where Morningstar Research believes its sources of competitive advantage are growing stronger; stable where they do not anticipate changes to competitive advantages over the next several years; or negative when they see signs of deterioration.
Morningstar Research uses a standardized, proprietary valuation model to assign fair values to potential Index constituents common stock. Morningstars equity research team estimates the issuers future free cash flows and then calculates an enterprise value using weighted average costs of capital as the discount rate. Morningstar Research then assigns each issuers common stock a fair value by adjusting the enterprise value to account for net debt and other adjustments. The Index employs a staggered rebalance methodology and is divided into two sub-portfolios. Each typically contains 40 stocks. However, if securities fall short of the selection and eligibility criteria or if securities are added or deleted as a result of corporate actions after reconstitution, the sub-portfolio can hold more or fewer than 40 companies.
In addition, securities that are deleted from the Morningstar US Market Index SM after June and December reconstitutions are simultaneously deleted from the Index. One sub-portfolio reconstitutes in December and June, the other in March and September. At each reconstitution, the 40 securities representing the lowest current market price/fair value are selected from the list of eligible securities for the sub-portfolio. A buffer rule is applied to the current Index constituents. Current constituents ranked within the top 150% of the target count in the eligible universe based on current market price/fair value ratio are retained in the Index. The maximum weight of an individual sector in the Index is capped at 10% more than its corresponding weight in the Morningstar US Market Index SM at the time of reconstitution, or 40%, whichever is higher.
Due to the staggered rebalance methodology, constituents and weightings may vary between sub-portfolios. As a rule, adjustments to one sub-portfolio are performed after the close of business on the third Friday of March and September and adjustments to the other sub-portfolio are performed after the close of business on the third Friday of June and December, and all adjustments are effective on the following Monday. If the Monday is a market holiday, reconstitution and rebalancing occurs on the Tuesday immediately following. In addition to the quarterly staggered reconstitution of sub-portfolio, the sub-portfolios weights are reset to 50% every June and December and distributed among the securities within them in proportion to their weight. The aggregate portfolio can contain between 40 and 80 constituents.
The Fund intends to hold the same number of securities as the Index. As of December 31, 2025, the Index included 54 securities of companies with a market capitalization range of between approximately $6.7 billion to $4.5 trillion and a weighted average market capitalization of $265.7 billion. These amounts are subject to change. The Fund may invest in financial futures, a type of derivative that may be used to obtain exposure to a variety of underlying assets, to provide liquidity for cash flows, to hedge dividend accruals or for other purposes that facilitate meeting the Funds objective. The Fund's use of financial futures is intended to assist replicating the investment performance of the Index. The Fund may invest in exchange-traded funds (ETFs) to assist with Fund rebalances and to meet redemption or purchase requests.
The Funds holdings are rebalanced on a regular basis to reflect changes in the composition of the Index. Mellon Investments Corporation, the Funds sub-adviser (Sub-Adviser), uses a passive or indexing approach to try to achieve the Funds investment objective. The Fund does not employ traditional methods of active investment management, which involves the buying and selling of securities based upon security analysis. The Fund will concentrate its investments in an industry or group of industries to the extent the Index that the Fund is designed to track is also concentrated.
C000202646 Holdings
Top 10 holdings of JNL/Morningstar Wide Moat Index Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Masco Corporation | 2.95% |
| Kenvue Inc. | 2.58% |
| Airbnb, Inc. | 2.55% |
| Palo Alto Networks, Inc. | 2.50% |
| Brown-Forman Corporation | 2.48% |
| NVIDIA Corporation | 2.44% |
| Charles Schwab Corporation, The | 2.44% |
| Datadog, Inc. | 2.43% |
| Bristol-Myers Squibb Company | 2.42% |
| Broadcom Inc. | 2.42% |
C000202646 Portfolio Allocation
Asset-class allocation of JNL/Morningstar Wide Moat Index Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.6% |
| Cash & Equivalents | 0.1% |
C000202646 Performance
Total returns for C000202646 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 0.5% |
| 1 year | 12.5% |
| 3 years (annualised) | 10.6% |
| 5 years (annualised) | 8.4% |
C000202646 Risk Information
Risk metrics for C000202646, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 12.2%
C000202646 Costs and Fees
C000202646 costs about $46 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.46%
- Gross expense ratio: 0.46%
- Portfolio turnover: 73%
- Brokerage commissions: 0.25 bps of average net assets (SEC N-CEN)
C000202646 Cashflows
Over the 12 months to 2026-06, JNL/Morningstar Wide Moat Index Fund had net outflows of $315.74M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$13.04M |
| 2026-05 | −$167.39M |
| 2026-04 | −$8.04M |
| 2026-03 | −$17.05M |
| 2026-02 | −$14.47M |
| 2026-01 | −$27.19M |
C000202646 Debt Constituents
No individual debt constituents are reported in JNL/Morningstar Wide Moat Index Fund's latest SEC N-PORT filing.
C000202646 Prospectus and SEC Filings
Official JNL/Morningstar Wide Moat Index Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-23
- Prospectus (485BPOS) — filed 2025-04-24
- Prospectus (485BPOS) — filed 2024-04-26
- Portfolio holdings (N-PORT) — filed 2026-08-26
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-25
- Annual census (N-CEN) — filed 2026-03-12
- Annual census (N-CEN) — filed 2025-03-14
Related Funds
Other United States Mid Cap Value Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.