JUSUX — JPMorgan Limited Duration Bond Fund
Data updated: 2023-07-27
JUSUX — JPMorgan Limited Duration Bond Fund. Money Market · $1.04B AUM · 0.25% expense ratio · 2.1% 1-yr return. Holdings, fees, performance and SEC filings.
JUSUX Fund Overview
JUSUX — JPMorgan Limited Duration Bond Fund is a US mutual fund managed by JPMorgan Trust II, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: JPMorgan Trust II
- Category: Money Market
- Assets under management: $1.04B
- 1-year return: 2.1%
- Ticker: JUSUX
- SEC CIK: 0000763852
- SEC series ID: S000003492
- Share class ID: C000009666
JUSUX Investment Objective and Strategy
JPMorgan Limited Duration Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by JPMorgan Trust II.
Investment objective
The Fund seeks a high level of current income consistent with low volatility of principal.
Principal investment strategy
The Fund mainly invests in mortgage-backed securities, asset-backed securities, mortgage-related securities, adjustable rate mortgages, money market instruments, and structured investments. These investments may be structured as collateralized mortgage obligations (agency and non-agency), stripped mortgage-backed securities, commercial mortgage-backed securities, and mortgage pass-through securities. These securities may be structured such that payments consist of interest-only (IO), principal-only (PO) or principal and interest. Under normal circumstances, the Fund will invest at least 80% of its Assets in bonds. For purposes of this policy, Assets means net assets plus the amount of borrowings for investment purposes. The Fund seeks to maintain a duration of three years or less, although, under certain market conditions such as in periods of significant volatility in interest rates and spreads, the Funds duration may be longer than three years.
Duration is a measure of the price sensitivity of a debt security or a portfolio of debt securities to relative changes in interest rates. For instance, a duration of three means that a securitys or portfolios price would be expected to decrease by approximately 3% with a 1% increase in interest rates (assuming a parallel shift in yield curve). The Fund invests in fixed and floating rate debt securities representing an interest in or secured by residential mortgage loans. These securities often are issued or guaranteed by the U.S. government, its agencies or instrumentalities such as the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac). However, the Fund may also purchase mortgage-backed securities and asset-backed securities that are issued by non-governmental entities.
Such securities may or may not have private insurer guarantees of timely payments. Securities purchased by the Fund will be rated investment grade (or the unrated equivalent) at the time of purchase. In addition, all securities will be U.S. dollar-denominated although they may be issued by a foreign corporation, or a U.S. affiliate of a foreign corporation or a foreign government or its agencies and instrumentalities. The Fund may invest a significant portion or all of its assets in mortgage-related and mortgage-backed securities at the advisers discretion. The Fund may invest up to 25% of its assets in sub-prime mortgage-related securities at the time of purchase. The Fund has flexibility to invest in derivatives and may use such instruments to manage duration, sector and yield curve exposure, credit and spread volatility and to respond to volatile market conditions.
Derivatives, which are instruments which have a value based on another instrument, exchange rate or index, may also be used as substitutes for securities in which the Fund can invest. The Fund may use futures contracts, options, and swaps in connection with its principal strategies in order to hedge various investments, for risk management purposes and/or to increase income or gain to the Fund. The adviser buys and sells securities and investments for the Fund based on its view of individual securities and market sectors. Taking a long-term approach, the adviser looks for individual fixed income investments that it believes will perform well over market cycles. The adviser is value oriented and makes decisions to purchase and sell individual securities and instruments after performing a risk/reward analysis that includes an evaluation of interest rate risk, credit risk, duration, liquidity, legal provisions and the structure of the transaction.
JUSUX Performance
Total returns for JUSUX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 2.1% |
| 3 years (annualised) | 0.6% |
JUSUX Risk Information
Risk metrics for JUSUX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 2.3%
JUSUX Costs and Fees
JUSUX costs about $25 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.25%
- Gross expense ratio: 0.33%
- Portfolio turnover: 26%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
JUSUX Cashflows
Over the 12 months to 2023-05, JPMorgan Limited Duration Bond Fund had net outflows of $171.30M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-05 | −$40.40M |
| 2023-04 | −$28.51M |
| 2023-03 | −$16.06M |
| 2023-02 | −$14.66M |
| 2023-01 | $1.42M |
| 2022-12 | −$12.35M |
JUSUX Debt Constituents
No individual debt constituents are reported in JPMorgan Limited Duration Bond Fund's latest SEC N-PORT filing.
JUSUX Prospectus and SEC Filings
Official JPMorgan Limited Duration Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-06-22
- Prospectus (485BPOS) — filed 2022-06-23
- Prospectus (485BPOS) — filed 2021-06-25
- Portfolio holdings (N-PORT) — filed 2023-07-27
- Portfolio holdings (N-PORT) — filed 2023-04-28
- Portfolio holdings (N-PORT) — filed 2023-01-27
- Annual census (N-CEN) — filed 2023-05-15
- Annual census (N-CEN) — filed 2022-05-13
Related Funds
Other Money Market 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.