UNDER THE SECURITIES ACT OF 1933 |
☒ |
Pre-Effective Amendment No. |
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Post-Effective Amendment No. 333 |
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UNDER THE INVESTMENT COMPANY ACT OF 1940 |
☒ |
Amendment No. 334 |
☒ |
Matthew J. Beck, Esq. JPMorgan Chase & Co. 1111 Polaris Parkway Columbus, OH 43240 |
Jon S. Rand, Esq. Dechert LLP 1095 Avenue of the Americas New York, NY 10036 |
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immediately upon filing pursuant to paragraph (b) |
☒ |
on July 1, 2022, pursuant to paragraph (b) |
☐ |
60 days after filing pursuant to paragraph (a)(1) |
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on (date) pursuant to paragraph (a)(1) |
☐ |
75 days after filing pursuant to paragraph (a)(2) |
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on (date) pursuant to paragraph (a)(2) |
☐ |
The post-effective amendment designates a new effective date for a previously filed post-effective amendment. |
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Back cover |
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Class A |
Class C |
Class I |
Maximum Sales Charge (Load) Imposed on Purchases as % of the Offering Price |
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Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares |
1 |
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Class A |
Class C |
Class I |
Management Fees |
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Distribution (Rule 12b-1) Fees |
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Other Expenses |
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Service Fees |
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Remainder of Other Expenses |
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Total Annual Fund Operating Expenses |
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Fee Waivers and/or Expense Reimbursements1 |
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Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimburse- ments1 |
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1 Year |
3 Years |
5 Years |
10 Years |
CLASS A SHARES ($) |
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CLASS C SHARES ($) |
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CLASS I SHARES ($) |
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1 Year |
3 Years |
5 Years |
10 Years |
CLASS A SHARES ($) |
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CLASS C SHARES ($) |
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CLASS I SHARES ($) |
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Past 1 Year |
Past 5 Years |
Past 10 Years |
CLASS I SHARES |
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Return Before Taxes |
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Return After Taxes on Distributions |
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Return After Taxes on Distributions and Sale of Fund Shares |
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CLASS A SHARES |
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Return Before Taxes |
- |
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CLASS C SHARES |
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Return Before Taxes |
- |
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BLOOMBERG U.S. 1-15 YEAR BLEND (1-17) MUNICIPAL BOND INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
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Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Kevin M. Ellis |
2020 |
Managing Director |
Wayne Godlin |
2020 |
Managing Director |
David Sivinski |
2006 |
Executive Director |
For Class A and Class C Shares |
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To establish an account |
$1,000 |
To add to an account |
$50 |
For Class I Shares | |
To establish an account |
$1,000,000 |
To add to an account |
No minimum levels |
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Class A |
Class C |
Class I |
Maximum Sales Charge (Load) Imposed on Purchases as % of the Offering Price |
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Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares |
1 |
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Class A |
Class C |
Class I |
Management Fees |
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Distribution (Rule 12b-1) Fees |
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Other Expenses |
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Service Fees |
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Remainder of Other Expenses |
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Acquired Fund Fees and Expenses |
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Total Annual Fund Operating Expenses |
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Fee Waivers and/or Expense Reimbursements1 |
- |
- |
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Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimburse- ments1 |
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1 Year |
3 Years |
5 Years |
10 Years |
CLASS A SHARES ($) |
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CLASS C SHARES ($) |
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CLASS I SHARES ($) |
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1 Year |
3 Years |
5 Years |
10 Years |
CLASS A SHARES ($) |
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CLASS C SHARES ($) |
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CLASS I SHARES ($) |
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Past 1 Year |
Past 5 Years |
Past 10 Years |
CLASS I SHARES |
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Return Before Taxes |
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Return After Taxes on Distributions |
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Return After Taxes on Distributions and Sale of Fund Shares |
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CLASS A SHARES |
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Return Before Taxes |
- |
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CLASS C SHARES |
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Return Before Taxes |
- |
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BLOOMBERG U.S. 1-5 YEAR BLEND (1-6) MUNICIPAL BOND INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
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Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
James Ahn |
2006 |
Managing Director |
Kevin M. Ellis |
2006 |
Managing Director |
For Class A and Class C Shares | |
To establish an account |
$1,000 |
To add to an account |
$50 |
For Class I Shares | |
To establish an account |
$1,000,000 |
To add to an account |
No minimum levels |
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Class A |
Class C |
Class I |
Maximum Sales Charge (Load) Imposed on Purchases as % of the Offering Price |
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Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares |
1 |
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Class A |
Class C |
Class I |
Management Fees |
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Distribution (Rule 12b-1) Fees |
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Other Expenses |
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Service Fees |
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Remainder of Other Expenses |
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Total Annual Fund Operating Expenses |
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Fee Waivers and/or Expense Reimbursements1 |
- |
- |
- |
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimburse- ments1 |
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1 Year |
3 Years |
5 Years |
10 Years |
CLASS A SHARES ($) |
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CLASS C SHARES ($) |
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CLASS I SHARES ($) |
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1 Year |
3 Years |
5 Years |
10 Years |
CLASS A SHARES ($) |
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CLASS C SHARES ($) |
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CLASS I SHARES ($) |
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Past 1 Year |
Past 5 Years |
Past 10 Years |
CLASS I SHARES |
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Return Before Taxes |
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Return After Taxes on Distributions |
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Return After Taxes on Distributions and Sale of Fund Shares |
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CLASS A SHARES |
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Return Before Taxes |
- |
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CLASS C SHARES |
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Return Before Taxes |
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BLOOMBERG US MUNICIPAL INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
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Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Richard Taormina |
2005 |
Managing Director |
Michelle Hallam |
2014 |
Executive Director |
For Class A and Class C Shares | |
To establish an account |
$1,000 |
To add to an account |
$50 |
For Class I Shares | |
To establish an account |
$1,000,000 |
To add to an account |
No minimum levels |
SHAREHOLDER FEES (Fees paid directly from your investment) | ||
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Class A |
Class I |
Maximum Sales Charge (Load) Imposed on Purchases as a % of the Offering Price |
NONE |
NONE |
Maximum Deferred Sales Charge (Load) as a % of Original Cost of Shares |
NONE |
NONE |
ANNUAL FUND OPERATING EXPENSES (Expenses that you pay each year as a percentage of the value of your investment) | ||
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Class A |
Class I |
Management Fees |
0.15% |
0.15% |
Distribution (Rule 12b-1) Fees |
0.25 |
NONE |
Other Expenses |
0.35 |
0.35 |
Service Fees |
0.25 |
0.25 |
Remainder of Other Expenses |
0.10 |
0.10 |
Acquired Fund Fees and Expenses |
0.01 |
0.01 |
Total Annual Fund Operating Expenses |
0.76 |
0.51 |
Fee Waivers and/or Expense Reimburse- ments1 |
-0.31 |
-0.26 |
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements1 |
0.45 |
0.25 |
WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: | ||||
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1 Year |
3 Years |
5 Years |
10 Years |
CLASS A SHARES ($) |
46 |
212 |
392 |
913 |
CLASS I SHARES ($) |
26 |
137 |
259 |
615 |
YEAR-BY-YEAR RETURNS — CLASS I SHARES |
Best Quarter |
1st quarter, 2019 |
0.68% |
Worst Quarter |
1st quarter, 2021 |
-0.14% |
The Fund’s year-to-date total return |
through |
3/31/22 |
was |
-1.11% |
. |
AVERAGE ANNUAL TOTAL RETURNS (For periods ended December 31, 2021) | |||
|
Past |
Past |
Life of Fund since |
|
1 Year |
5 Years |
05/31/2016 |
CLASS I SHARES |
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Return Before Taxes |
-0.04% |
1.05% |
0.97% |
Return After Taxes on Distributions |
-0.05 |
1.03 |
0.96 |
Return After Taxes on Distributions and Sale of Fund Shares |
0.08 |
1.01 |
0.94 |
CLASS A SHARES |
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Return Before Taxes |
-0.14 |
0.84 |
0.77 |
BLOOMBERG 1 YEAR MUNICIPAL BOND INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
0.31 |
1.44 |
1.25 |
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Richard Taormina |
2016 |
Managing Director |
James Ahn |
2016 |
Managing Director |
For Class A Shares | |
To establish an account |
$1,000 |
To add to an account |
$50 |
For Class I Shares | |
To establish an account |
$1,000,000 |
To add to an account |
No minimum levels |
SHAREHOLDER FEES (Fees paid directly from your investment) | |||
|
Class A |
Class C |
Class I |
Maximum Sales Charge (Load) Imposed on Purchases as % of the Offering Price |
3.75% |
NONE |
NONE |
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares |
NONE1 |
1.00% |
NONE |
ANNUAL FUND OPERATING EXPENSES (Expenses that you pay each year as a percentage of the value of your investment) | |||
|
Class A |
Class C |
Class I |
Management Fees |
0.30% |
0.30% |
0.30% |
Distribution (Rule 12b-1) Fees |
0.25 |
0.75 |
NONE |
Other Expenses |
0.39 |
0.38 |
0.38 |
Service Fees |
0.25 |
0.25 |
0.25 |
Remainder of Other Expenses |
0.14 |
0.13 |
0.13 |
Total Annual Fund Operating Expenses |
0.94 |
1.43 |
0.68 |
Fee Waivers and/or Expense Reimbursements1 |
-0.34 |
-0.33 |
-0.18 |
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimburse- ments1 |
0.60 |
1.10 |
0.50 |
IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: | ||||
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1 Year |
3 Years |
5 Years |
10 Years |
CLASS A SHARES ($) |
434 |
631 |
844 |
1,456 |
CLASS C SHARES ($) |
212 |
420 |
750 |
1,551 |
CLASS I SHARES ($) |
51 |
199 |
361 |
830 |
IF YOU DO NOT SELL YOUR SHARES, YOUR COST WOULD BE: | ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
CLASS A SHARES ($) |
434 |
631 |
844 |
1,456 |
CLASS C SHARES ($) |
112 |
420 |
750 |
1,551 |
CLASS I SHARES ($) |
51 |
199 |
361 |
830 |
YEAR-BY-YEAR RETURNS - CLASS I SHARES |
Best Quarter |
2nd quarter, 2020 |
2.64% |
Worst Quarter |
4th quarter, 2016 |
-3.39% |
The Fund’s year-to-date total return |
through |
3/31/22 |
was |
-5.89% |
. |
AVERAGE ANNUAL TOTAL RETURNS (For periods ended December 31, 2021) | |||
|
Past 1 Year |
Past 5 Years |
Past 10 Years |
CLASS I SHARES |
|
|
|
Return Before Taxes |
-0.12% |
2.89% |
2.67% |
Return After Taxes on Distributions |
-0.13 |
2.88 |
2.62 |
Return After Taxes on Distributions and Sale of Fund Shares |
0.54 |
2.74 |
2.63 |
CLASS A SHARES |
|
|
|
Return Before Taxes |
-3.97 |
1.99 |
2.17 |
CLASS C SHARES |
|
|
|
Return Before Taxes |
-1.73 |
2.27 |
2.16 |
BLOOMBERG LB CALIFORNIA 1-17 YEAR MUNI INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
0.52 |
3.38 |
3.14 |
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
David Sivinski |
2005 |
Executive Director |
Michelle Hallam |
2004 |
Executive Director |
For Class A and Class C Shares | |
To establish an account |
$1,000 |
To add to an account |
$50 |
For Class I Shares | |
To establish an account |
$1,000,000 |
To add to an account |
No minimum levels |
SHAREHOLDER FEES (Fees paid directly from your investment) | |||
|
Class A |
Class C |
Class I |
Maximum Sales Charge (Load) Imposed on Purchases as a % of the Offering Price |
3.75% |
NONE |
NONE |
Maximum Deferred Sales Charge (Load) as a % of Original Cost of the Shares |
NONE1 |
1.00% |
NONE |
ANNUAL FUND OPERATING EXPENSES (Expenses that you pay each year as a percentage of the value of your investment) | |||
|
Class A |
Class C |
Class I |
Management Fees |
0.35% |
0.35% |
0.35% |
Distribution (Rule 12b-1) Fees |
0.25 |
0.75 |
NONE |
Other Expenses |
0.41 |
0.41 |
0.41 |
Service Fees |
0.25 |
0.25 |
0.25 |
Remainder of Other Expenses |
0.16 |
0.16 |
0.16 |
Total Annual Fund Operating Expenses |
1.01 |
1.51 |
0.76 |
Fee Waivers and/or Expense Reimbursements1 |
-0.36 |
-0.36 |
-0.21 |
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimburse- ments1 |
0.65 |
1.15 |
0.55 |
IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: | ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
CLASS A SHARES ($) |
439 |
650 |
878 |
1,533 |
CLASS C SHARES ($) |
217 |
442 |
790 |
1,636 |
CLASS I SHARES ($) |
56 |
222 |
402 |
923 |
IF YOU DO NOT SELL YOUR SHARES, YOUR COST WOULD BE: | ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
CLASS A SHARES ($) |
439 |
650 |
878 |
1,533 |
CLASS C SHARES ($) |
117 |
442 |
790 |
1,636 |
CLASS I SHARES ($) |
56 |
222 |
402 |
923 |
YEAR-BY-YEAR RETURNS — CLASS I SHARES |
Best Quarter |
1st quarter, 2019 |
3.81% |
Worst Quarter |
1st quarter, 2020 |
-6.47% |
The Fund’s year-to-date total return |
through |
3/31/22 |
was |
-7.16% |
. |
AVERAGE ANNUAL TOTAL RETURNS (For periods ended December 31, 2021) | |||
|
Past 1 Year |
Past 5 Years |
Past 10 Years |
CLASS I SHARES |
|
|
|
Return Before Taxes |
5.75% |
4.99% |
4.00% |
Return After Taxes on Distributions |
5.73 |
4.89 |
3.78 |
Return After Taxes on Distributions and Sale of Fund Shares |
4.63 |
4.47 |
3.56 |
CLASS A SHARES |
|
|
|
Return Before Taxes |
1.67 |
4.09 |
3.50 |
CLASS C SHARES |
|
|
|
Return Before Taxes |
4.04 |
4.38 |
3.48 |
BLOOMBERG US MUNICIPAL INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
1.52 |
4.17 |
3.72 |
BLOOMBERG HIGH YIELD MUNICIPAL BOND INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
7.77 |
7.53 |
6.72 |
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Wayne Godlin |
2018 |
Managing Director |
Richard Taormina |
2007 |
Managing Director |
Kevin M. Ellis |
2018 |
Managing Director |
For Class A and Class C Shares | |
To establish an account |
$1,000 |
To add to an account |
$50 |
For Class I Shares | |
To establish an account |
$1,000,000 |
To add to an account |
No minimum levels |
SHAREHOLDER FEES (Fees paid directly from your investment) | |||
|
Class A |
Class C |
Class I |
Maximum Sales Charge (Load) Imposed on Purchases as % of the Offering Price |
3.75% |
NONE |
NONE |
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares |
NONE1 |
1.00% |
NONE |
ANNUAL FUND OPERATING EXPENSES (Expenses that you pay each year as a percentage of the value of your investment) | |||
|
Class A |
Class C |
Class I |
Management Fees |
0.30% |
0.30% |
0.30% |
Distribution (Rule 12b-1) Fees |
0.25 |
0.75 |
NONE |
Other Expenses |
0.35 |
0.35 |
0.35 |
Service Fees |
0.25 |
0.25 |
0.25 |
Remainder of Other Expenses |
0.10 |
0.10 |
0.10 |
Total Annual Fund Operating Expenses |
0.90 |
1.40 |
0.65 |
Fee Waivers and/or Expense Reimbursements1 |
-0.25 |
-0.20 |
-0.25 |
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimburse- ments1 |
0.65 |
1.20 |
0.40 |
IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: | ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
CLASS A SHARES ($) |
439 |
627 |
831 |
1,419 |
CLASS C SHARES ($) |
222 |
423 |
747 |
1,526 |
CLASS I SHARES ($) |
41 |
183 |
337 |
787 |
IF YOU DO NOT SELL YOUR SHARES, YOUR COST WOULD BE: | ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
CLASS A SHARES ($) |
439 |
627 |
831 |
1,419 |
CLASS C SHARES ($) |
122 |
423 |
747 |
1,526 |
CLASS I SHARES ($) |
41 |
183 |
337 |
787 |
YEAR-BY-YEAR RETURNS - CLASS I SHARES |
Best Quarter |
2nd quarter, 2020 |
2.77% |
Worst Quarter |
4th quarter, 2016 |
-3.11% |
The Fund’s year-to-date total return |
through |
3/31/22 |
was |
-5.67% |
. |
AVERAGE ANNUAL TOTAL RETURNS (For periods ended December 31, 2021) | |||
|
Past 1 Year |
Past 5 Years |
Past 10 Years |
CLASS I SHARES |
|
|
|
Return Before Taxes |
0.97% |
3.30% |
2.63% |
Return After Taxes on Distributions |
0.77 |
3.24 |
2.58 |
Return After Taxes on Distributions and Sale of Fund Shares |
1.65 |
3.09 |
2.61 |
CLASS A SHARES |
|
|
|
Return Before Taxes |
-3.00 |
2.24 |
1.98 |
CLASS C SHARES |
|
|
|
Return Before Taxes |
-0.83 |
2.46 |
1.86 |
BLOOMBERG U.S. 1-15 YEAR BLEND (1-17) MUNICIPAL BOND INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
0.86 |
3.57 |
3.05 |
Portfolio Managers |
Managed the Fund Since |
Primary Title with Investment Adviser |
Richard Taormina |
2006 |
Managing Director |
David Sivinski |
2005 |
Executive Director |
Kevin M. Ellis |
2014 |
Managing Director |
For Class A and Class C Shares | |
To establish an account |
$1,000 |
To add to an account |
$50 |
For Class I Shares | |
To establish an account |
$1,000,000 |
To add to an account |
No minimum levels |
SHAREHOLDER FEES (Fees paid directly from your investment) | |||
|
Class A |
Class C |
Class I |
Maximum Sales Charge (Load) Imposed on Purchases as % of the Offering Price |
3.75% |
NONE |
NONE |
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares |
NONE1 |
1.00% |
NONE |
ANNUAL FUND OPERATING EXPENSES (Expenses that you pay each year as a percentage of the value of your investment) | |||
|
Class A |
Class C |
Class I |
Management Fees |
0.30% |
0.30% |
0.30% |
Distribution (Rule 12b-1) Fees |
0.25 |
0.75 |
NONE |
Other Expenses |
0.39 |
0.39 |
0.39 |
Service Fees |
0.25 |
0.25 |
0.25 |
Remainder of Other Expenses |
0.14 |
0.14 |
0.14 |
Total Annual Fund Operating Expenses |
0.94 |
1.44 |
0.69 |
Fee Waivers and/or Expense Reimbursements1 |
-0.19 |
-0.19 |
-0.19 |
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimburse- ments1 |
0.75 |
1.25 |
0.50 |
IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: | ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
CLASS A SHARES ($) |
449 |
645 |
858 |
1,470 |
CLASS C SHARES ($) |
227 |
437 |
769 |
1,572 |
CLASS I SHARES ($) |
51 |
202 |
365 |
841 |
IF YOU DO NOT SELL YOUR SHARES, YOUR COST WOULD BE: | ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
CLASS A SHARES ($) |
449 |
645 |
858 |
1,470 |
CLASS C SHARES ($) |
127 |
437 |
769 |
1,572 |
CLASS I SHARES ($) |
51 |
202 |
365 |
841 |
YEAR-BY-YEAR RETURNS - CLASS I SHARES |
Best Quarter |
1st quarter, 2019 |
2.46% |
Worst Quarter |
4th quarter, 2016 |
-2.73% |
The Fund’s year-to-date total return |
through |
3/31/22 |
was |
-5.27% |
. |
AVERAGE ANNUAL TOTAL RETURNS (For periods ended December 31, 2021) | |||
|
Past 1 Year |
Past 5 Years |
Past 10 Years |
CLASS I SHARES |
|
|
|
Return Before Taxes |
0.74% |
2.84% |
2.40% |
Return After Taxes on Distributions |
0.73 |
2.84 |
2.32 |
Return After Taxes on Distributions and Sale of Fund Shares |
1.19 |
2.76 |
2.47 |
CLASS A SHARES |
|
|
|
Return Before Taxes |
-3.23 |
1.78 |
1.76 |
CLASS C SHARES |
|
|
|
Return Before Taxes |
-1.01 |
2.08 |
1.65 |
BLOOMBERG NEW YORK INTERMEDI- ATE (1-17 YEAR) MATURITIES INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
1.17 |
3.32 |
2.90 |
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
David Sivinski |
2005 |
Executive Director |
Kevin M. Ellis |
2005 |
Managing Director |
For Class A and Class C Shares | |
To establish an account |
$1,000 |
To add to an account |
$50 |
For Class I Shares | |
To establish an account |
$1,000,000 |
To add to an account |
No minimum levels |
FUNDAMENTAL INVESTMENT OBJECTIVES |
An investment objective is fundamental if it cannot be changed without the consent of a majority of the outstanding shares of the Fund. The investment objectives for the Short-Intermediate Municipal Bond Fund, Sustainable Municipal Income Fund and Tax Free Bond Fund are fundamental. The investment objectives for the remaining Funds are non-fundamental and can be changed without the consent of a majority of the outstanding shares of that Fund. |
|
Sustainable Municipal Income Fund |
Short-Intermediate Municipal Bond Fund |
Tax Free Bond Fund |
Ultra-Short Municipal Fund |
California Tax Free Bond Fund |
High Yield Municipal Fund |
Intermediate Tax Free Bond Fund |
New York Tax Free Bond Fund |
Alternative Minimum Tax Risk |
• |
• |
• |
• |
• |
• |
• |
• |
Auction Rate Securities Risk |
○ |
• |
○ |
• |
○ |
• |
○ |
○ |
California Geographic Concentration Risk |
|
|
|
|
• |
|
|
|
Credit Risk |
• |
• |
• |
• |
• |
• |
• |
• |
Debt Securities and Other Callable Securities Risk |
• |
• |
• |
• |
• |
• |
• |
• |
Derivatives Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Exchange-Traded Fund (ETF) and/or Other Investment Company Risk |
○ |
○ |
○ |
○ |
○ |
• |
○ |
○ |
Floating and Variable Rate Securities Risk |
○ |
○ |
○ |
• |
○ |
• |
○ |
○ |
General Market Risk |
• |
• |
• |
• |
• |
• |
• |
• |
Government Securities Risk |
○ |
○ |
○ |
○ |
• |
• |
• |
• |
High Yield Securities Risk |
• |
• |
• |
• |
• |
• |
• |
• |
Industry and Sector Focus Risk |
• |
• |
• |
• |
• |
• |
• |
• |
Interest Rate Risk |
• |
• |
• |
• |
• |
• |
• |
• |
Inverse Floating Rate Instrument Risk |
○ |
○ |
○ |
○ |
○ |
• |
○ |
○ |
Loan Risk |
|
|
|
|
|
○ |
|
|
Mortgage-Related and Other Asset-Backed Securities Risk |
• |
• |
• |
• |
• |
○ |
• |
• |
Municipal Housing Authority Obligations Risk |
• |
• |
○ |
• |
○ |
○ |
○ |
○ |
|
Sustainable Municipal Income Fund |
Short-Intermediate Municipal Bond Fund |
Tax Free Bond Fund |
Ultra-Short Municipal Fund |
California Tax Free Bond Fund |
High Yield Municipal Fund |
Intermediate Tax Free Bond Fund |
New York Tax Free Bond Fund |
Municipal Obligations Risk |
• |
• |
• |
• |
• |
• |
• |
• |
New York Geographic Concentration Risk |
|
|
|
|
|
|
|
• |
Pay-In-Kind and Deferred Payment Securities Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Restricted Securities Risk |
• |
• |
○ |
• |
○ |
• |
○ |
○ |
Social or Environmental Investing Risk |
• |
|
|
|
|
|
|
|
Structured Product Risk |
○ |
○ |
○ |
• |
○ |
• |
○ |
○ |
Taxability Risk |
• |
• |
• |
• |
• |
• |
• |
• |
Risk Associated with the Fund Holding Cash, Money Market Instruments and Other Short-Term Investments |
|
• |
• |
|
|
|
|
|
Transactions and Liquidity Risk |
• |
• |
• |
• |
• |
• |
• |
• |
Ultra-Short Fund Risk |
|
|
|
• |
|
|
|
|
Cyber Security Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Volcker Rule Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Zero-Coupon Bond Risk |
• |
• |
• |
• |
• |
• |
• |
• |
WHAT IS A DERIVATIVE? |
Derivatives are securities or contracts (for example, futures and options) that derive their value from the performance of underlying assets or securities. |
WHAT IS A CASH EQUIVALENT? |
Cash equivalents are highly liquid, high-quality instruments with maturities of three months or less on the date they are purchased. They include securities issued by the U.S. government, its agencies and instrumentalities, repurchase agreements, certificates of deposit, bankers’ acceptances, commercial paper, money market mutual funds and bank deposit accounts. |
California Tax Free Bond Fund |
0.28% |
High Yield Municipal Fund |
0.31 |
Intermediate Tax Free Bond Fund |
0.24 |
New York Tax Free Bond Fund |
0.28 |
Short-Intermediate Municipal Bond Fund |
0.15 |
Sustainable Municipal Income Fund |
0.23 |
Tax Free Bond Fund |
0.28 |
Ultra-Short Municipal Fund |
0.00 |
|
Class A |
Class C |
Class I |
Eligibility1,2 |
May be purchased by the general public |
May be purchased by the general public3 |
May be purchased by: •Institutional Investors who meet the minimum investment requirements; •Individuals purchasing directly from the Fund through JPMorgan Distribution Services, Inc. (the “Distributor”) and meeting the investment minimum requirements; •Financial Intermediaries or any other organization, including affiliates of JPMorgan Chase & Co. (JPMorgan Chase), authorized to act in a fiduciary, advisory or custodial capacity for its clients or customers; •Brokerage program of a Financial Intermediary that has entered into a written agreement with the Distributor to offer such shares (“Eligible Brokerage Program”); and •Employees of JPMorgan Chase and its affiliates and officers or trustees of the JPMorgan Funds.4 |
Minimum Investment1,5,6 |
$1,000 for each Fund or $50, if establishing a monthly $50 Systematic Investment Plan7 |
$1,000 for each Fund or $50, if establishing a monthly $50 Systematic Investment Plan7 |
$1,000,000 – An investor can combine purchases of Class I Shares of other J.P. Morgan Funds in order to meet the minimum. $1,000 for each Fund or $50, if establishing a monthly $50 Systematic Investment Plan for investments through an Eligible Brokerage Program. $1,000 for each Fund or $50 if establishing a monthly $50 Systematic Investment Plan7for investments by employees of JPMorgan Chase and its affiliates and officers or trustees of the J.P. Morgan Funds.4 |
|
Class A |
Class C |
Class I |
Minimum Subsequent Investments1 |
$508 |
$508 |
No minimum except $50 for investments by employees of JPMorgan Chase and its affiliates and officers or trustees of the J.P. Morgan Funds and investments through an Eligible Brokerage Program. |
Systematic Investment Plan |
Yes |
Yes |
No except for investments by employees of JPMorgan Chase and its affiliates and officers or trustees of the J.P. Morgan Funds and investments through an Eligible Brokerage Program. |
Systematic Redemption Plan |
Yes |
Yes |
No except for investments by employees of JPMorgan Chase and its affiliates and officers or trustees of the JPMorgan Funds. |
Front-End Sales Charge (refer to Sales Charges and Financial Intermediary Compensation Section for more details) |
Up to 2.25% reduced or waived for large purchases and certain investors, eliminated for purchases of $250,000 or more for Short-Intermediate Municipal Bond Fund and all purchases of the Ultra-Short Municipal Fund. Up to 3.75% reduced or waived for large purchases and certain investors, eliminated for purchases of $250,000 or more for Funds (other than Short- Intermediate Municipal Bond Fund and Ultra-Short Municipal Fund) |
None |
None |
Contingent Deferred Sales Charge (CDSC) (refer to Sales Charges and Financial Intermediary Compensation Section for more details) |
None for purchases of Ultra- Short Municipal Fund. On purchases of $250,000 or more of Short-Intermediate Municipal Bond Fund. •0.75% on redemptions made within 18 months after purchase. On purchases of $250,000 or more for Funds (other than Ultra-Short Municipal Fund or Short-Intermediate Municipal Bond Fund) •0.75% on redemptions made within 18 months after purchase. Waived under certain circumstances. |
•1.00% on redemptions made within 12 months after purchase. Waived under certain circumstances. |
None |
Distribution (12b-1) Fee |
0.25% of the average daily net assets. |
0.75% of the average daily net assets. |
None |
|
Class A |
Class C |
Class I |
Service Fee |
0.25% of the average daily net assets. |
0.25% of the average daily net assets. |
0.25% of the average daily net assets. |
Redemption Fee |
None |
None |
None |
Conversion Feature9 |
None |
Class C Shares will be converted to Class A Shares in the following instances: •If an investor is eligible to purchase Class A Shares, then their Class C Share positions will convert to Class A Shares after 8 years, calculated from the first day of the month of purchase and processed on the tenth business day of the anniversary month. •If Class C Shares held in an account with a third party broker of record are transferred to an account with the Distributor, those Class C Shares will be converted to Class A Shares on the tenth business day of the month following the transfer. |
None |
Advantages |
If you are eligible to have the sales charge reduced or eliminated or you have a long- term investment horizon, these shares have lower distribution fees over a longer term investment horizon than Class C Shares. |
No front-end sales charge is assessed so you own more shares initially. These shares may make sense for investors who have a shorter investment horizon relative to Class A Shares. |
No front-end sales charge or CDSC is assessed so you own more shares initially. In addition, Class I Shares have lower fees than Class A and Class C Shares. |
Disadvantages |
A front-end sales charge is generally assessed, diminishing the number of shares owned. If you are eligible to have the sales charge reduced or eliminated, you may be subject to a CDSC. Class A Shares may not make sense for investors who have a shorter investment horizon relative to Class C Shares. |
Shares are subject to CDSC and have higher ongoing distribution fees. This means that over the long term Class C Shares accrue higher fees than Class A Shares. |
Limited availability and higher minimum initial investment than Class A and Class C Shares. |
Class A Shares Amount of Investment |
Sales Charge as a % of Offering Price |
Sales Charge as a % of your Investment |
Commission as a % of Offering Price2 |
CDSC |
Less than $50,000 |
0.00 |
0.00 |
0.00 |
0.00 |
$50,000 to $99,999 |
0.00 |
0.00 |
0.00 |
0.00 |
$100,000 to $249,999 |
0.00 |
0.00 |
0.00 |
0.00 |
$250,000 or more |
0.00 |
0.00 |
0.00 |
0.00 |
Class A Shares Amount of Investment |
Sales Charge as a % of Offering Price |
Sales Charge as a % of your Investment1 |
Commission as a % of Offering Price2 |
CDSC |
Less than $50,000 |
2.25 |
2.30 |
2.00 |
0.00 |
$50,000 to $99,999 |
2.00 |
2.04 |
1.50 |
0.00 |
$100,000 to $249,999 |
1.25 |
1.27 |
1.00 |
0.00 |
|
|
|
|
|
Amount of Investment |
Sales Charge as a % of Offering Price |
Sales Charge as a % of your Investment |
Finder’s Fee as a % of your Investment4 |
CDSC as a % of your Redemption3 |
$250,000 to $3,999,999 |
0.00 |
0.00 |
0.75 |
0-18 months – 0.75% |
$4,000,000 to $9,999,999 |
0.00 |
0.00 |
0.50 | |
$10,000,000 or more |
0.00 |
0.00 |
0.25 |
Class A Shares Amount of Investment |
Sales Charge as a % of Offering Price |
Sales Charge as a % of your Investment1 |
Commission as a % of Offering Price2 |
CDSC |
Less than $100,000 |
3.75 |
3.90 |
3.25 |
0.00 |
$100,000 to $249,999 |
3.25 |
3.36 |
2.75 |
0.00 |
|
|
|
|
|
Amount of Investment |
Sales Charge as a % of Offering Price |
Sales Charge as a % of your Investment |
Finder’s Fee as a % of your Investment4 |
CDSC as a % of your Redemption3 |
$250,000 to $3,999,999 |
0.00 |
0.00 |
0.75 |
0-18 months — 0.75% |
$4,000,000 to $49,999,999 |
0.00 |
0.00 |
0.50 | |
$50,000,000 or more |
0.00 |
0.00 |
0.25 |
Class A Shares Amount of Investment |
Sales Charge as a % of Offering Price |
Sales Charge as a % of your Investment |
Finder’s Fee as a % of your Investment |
CDSC as a % of your Redemption1 |
$0 to $3,999,999 |
0.00 |
0.00 |
0.75 |
0.00 |
$4,000,000 to $9,999,999 |
0.00 |
0.00 |
0.50 |
0.00 |
$10,000,000 or more |
0.00 |
0.00 |
0.25 |
0.00 |
Class A Shares Amount of Investment |
Sales Charge as a % of Offering Price |
Sales Charge as a % of your Investment |
Finder’s Fee as a % of your Investment |
CDSC as a % of your Redemption1 |
$0 to $3,999,999 |
0.00 |
0.00 |
0.75 |
0.00 |
$4,000,000 to $49,999,999 |
0.00 |
0.00 |
0.50 |
0.00 |
$50,000,000 or more |
0.00 |
0.00 |
0.25 |
0.00 |
Class C Shares Amount of Investment |
Sales Charge as a % of Offering Price |
Sales Charge as a % of your Investment |
Commission as a % of Offering Price |
CDSC as a % of your Redemption |
All Investments |
0.00 |
0.00 |
1.00 |
0-12 months —1.00% |
Class |
Rule 12b-1 Fee |
Class A |
0.25% |
Class C |
0.75% |
Class I |
None |
Class |
Service Fee |
Class A |
0.25% |
Class C |
0.25% |
Class I |
0.25% |
HOW TO PURCHASE DIRECTLY WITH THE J.P. MORGAN FUNDS | ||
|
Opening a New Account |
Purchasing into an Existing Account |
By Phone or Online 1-800-480-4111 Shareholder Services representatives are available Monday through Friday from 8:00 am to 6:00 pm ET. www.jpmorganfunds.com Note: Certain account types are not available for online account access. Please call for additional information. |
A new account generally may not be opened by phone or online. Employees of JPMorgan Chase & Co. may open a new account online. A new fund position can be added to an existing account by phone or online if you have bank information on file. The minimum initial investment requirement must be met. |
You must already have bank information on file. If we do not have bank information on file, you must submit written instructions. Please call for instructions on how to add bank information to your account. |
By Mail Regular mailing address: J.P. Morgan Funds Services P.O. Box 219143 Kansas City, MO 64121-9143 Overnight mailing address: J.P. Morgan Funds Services 430 W 7th Street, Suite 219143 Kansas City, MO 64105-1407 |
Mail the completed and signed application with a check to our Regular or Overnight mailing address. Refer to the Additional Information Regarding Purchases section. |
Please mail your check and include your name, the Fund name, and your fund account number. |
All checks must be made payable to one of the following: •J.P. Morgan Funds; or •The specific Fund in which you are investing. Please include your existing account number, if applicable. All checks must be in U.S. dollars. The J.P. Morgan Funds do not accept credit cards, cash, starter checks, money orders or credit card checks. The Funds and/or the Distributor reserve the right to refuse “third-party” checks and checks drawn on non- U.S. financial institutions even if payment may be effected through a U.S. financial institution. Checks made payable to any individual or company and endorsed to J.P. Morgan Funds or a Fund are considered third-party checks. | ||
By ACH or Wire1 1-800-480-4111 Wire Instructions: DST Asset Manager Solutions, Inc. 2000 Crown Colony Drive Quincy, MA 02169 Attn: J.P. Morgan Funds Services ABA: 021 000 021 DDA: 323 125 832 FBO: Fund Name Fund: Fund # Account: Your Account # and Your Account Registration |
You may include bank information on your application for your initial purchase to be processed via Automated Clearing House (ACH) rather than sending a check. New accounts cannot be opened by wire purchase. |
Purchase by ACH: To process a purchase via ACH using bank information on file you may call us or process the purchase online. Purchase by Wire: If you choose to pay by wire, please call to notify the Fund of your purchase. You must also initiate the wire with your financial institution. |
HOW TO PURCHASE DIRECTLY WITH THE J.P. MORGAN FUNDS | ||
|
Opening a New Account |
Purchasing into an Existing Account |
Systematic Investment Plan1 |
You may include instructions to set up a Systematic Investment Plan on your application. Bank Information must be included. Refer to Choosing A Share Class for fund minimums. |
If bank information is on file, you may call, go online or mail written instructions to start, edit or delete a Systematic Investment Plan. You cannot have a Systematic Investment Plan and a Systematic Redemption Plan or Systematic Exchange Plan on the same fund account. If bank information is not on file, you will be required to submit a completed form with your bank information and Systematic Investment Plan details. |
EXCHANGE PRIVILEGES |
Class A Shares of a Fund may be exchanged for: |
•Class A Shares of another J.P. Morgan Fund, |
•Morgan Shares of a J.P. Morgan money market fund (except for JPMorgan Prime Money Market Fund), or |
•Another share class of the same Fund if you are eligible to purchase that class. |
Class C Shares of a Fund may be exchanged for: |
•Class C Shares of another J.P. Morgan Fund (except for JPMorgan Prime Money Market Fund). Your new Class C Shares will be subject to the CDSC of the Fund from which you exchanged, and the current holding period for your exchanged Class C Shares is carried over to your new shares. |
•Class I, Class L or Class R6 Shares, if available, of the same Fund, provided you meet the eligibility requirements for the class you are exchanging into. In addition, the Class C Shares that you wish to exchange must not currently be subject to any CDSC. |
Class I Shares of a Fund may be exchanged for: |
•Class I Shares of another J.P. Morgan Fund, |
•Morgan Shares of a J.P. Morgan money market fund (except for JPMorgan Prime Money Market Fund), or |
•Another share class of the same Fund if you are eligible to purchase that class. |
HOW TO REDEEM | |
By Phone or Online Note: Certain account types are not available for online account access. |
Call us at 1-800-480-4111 Shareholder Services representatives are available Monday through Friday from 8:00 am to 6:00 pm ET. www.jpmorganfunds.com |
By Mail |
Regular mailing address: J.P. Morgan Funds Services P.O. Box 219143 Kansas City, MO 64121-9143 Overnight mailing address: J.P. Morgan Funds Services 430 W 7th Street, Suite 219143 Kansas City, MO 64105-1407 |
Systematic Redemption Plan2, 3 Note:The Funds currently do not charge for this service, but may impose a charge in the future. |
You may include instructions to set up a Systematic Redemption Plan on your application. Payment instructions must be included. You may call, or mail written instructions to start, edit or delete a Systematic Redemption Plan. You may send a written redemption request to your Financial Intermediary, if applicable, or to the Fund at the following address: J.P. Morgan Funds Services P.O. Box 219143 Kansas City, MO 64121-9143 You may redeem over the phone. Please see “Can I redeem by phone?” for more information. If you own Class A or Class C Shares, the applicable CDSC will be deducted from those payments unless such payments are made: 4 •Monthly and constitute no more than 1/12 of 10% of your then-current balance in the Fund each month; or •Quarterly and constitute no more than ¼ of 10% of your then-current balance in the Fund each quarter. It may not be in your best interest to buy additional Class A Shares while participating in a Systematic Redemption Plan. This is because Class A Shares have an upfront sales charge. |
FUND NAME |
FUND CODE |
JPMorgan Sustainable Municipal Income Fund |
1 |
JPMorgan Short-Intermediate Municipal Bond Fund |
2 |
JPMorgan Tax Free Bond Fund |
3 |
JPMorgan Ultra-Short Municipal Fund |
4 |
JPMorgan California Tax Free Bond Fund |
5 |
JPMorgan High Yield Municipal Fund |
6 |
JPMorgan Intermediate Tax Free Bond Fund |
7 |
JPMorgan New York Tax Free Bond Fund |
8 |
INSTRUMENT |
FUND CODE |
RISK TYPE |
Adjustable Rate Mortgage Loans (ARMs): Loans in a mortgage pool which provide for a fixed initial mortgage interest rate for a specified period of time, after which the rate may be subject to periodic adjustments. |
2, 6 |
Credit Interest Rate Liquidity Market Political Prepayment Valuation |
Asset-Backed Securities: Securities secured by company receivables, home equity loans, truck and auto loans, leases, and credit card receivables or other securities backed by other types of receivables or other assets. |
1–8 |
Credit Interest Rate Liquidity Market Political Prepayment Valuation |
Auction Rate Securities: Auction rate municipal securities and auction rate preferred securities issued by closed-end investment companies. |
1–8 |
Credit Interest Rate Liquidity Market |
Bank Obligations: Bankers’ acceptances, certificates of deposit and time deposits. Bankers’ acceptances are bills of exchange or time drafts drawn on and accepted by a commercial bank. Maturities are generally six months or less. Certificates of deposit are negotiable certificates issued by a bank for a specified period of time and earning a specified return. Time deposits are non-negotiable receipts issued by a bank in exchange for the deposit of funds. |
1–8 |
Credit Currency Interest Rate Liquidity Market Political |
Borrowings: A Fund may borrow for temporary purposes and/or for investment purposes. Such a practice will result in leveraging of the Fund’s assets and may cause a Fund to liquidate portfolio positions when it would not be advantageous to do so. A Fund must maintain continuous asset coverage of 300% of the amount borrowed, with the exception for borrowings not in excess of 5% of the Fund’s total assets made for temporary administrative purposes. |
1–8 |
Credit Interest Rate Market |
Call and Put Options: A call option gives the buyer the right to buy, and obligates the seller of the option to sell a security at a specified price at a future date. A put option gives the buyer the right to sell, and obligates the seller of the option to buy a security at a specified price at a future date. A Fund will sell only covered call and secured put options. |
1–8 |
Credit Leverage Liquidity Management Market |
INSTRUMENT |
FUND CODE |
RISK TYPE |
Commercial Paper: Secured and unsecured short-term promissory notes issued by corporations and other entities. Maturities generally vary from a few days to nine months. |
1–8 |
Credit Currency Interest Rate Liquidity Market Political Valuation |
Common Stock Warrants and Rights: Securities, typically issued with preferred stock or bonds, that give the holder the right to buy a proportionate amount of common stock at a specified price. |
3 |
Credit Market |
Corporate Debt Securities: May include bonds and other debt securities of domestic and foreign issuers, including obligations of industrial, utility, banking and other corporate issuers. |
1–8 |
Credit Currency Interest Rate Liquidity Market Political Prepayment Valuation |
Credit Default Swaps (CDSs): A swap agreement between two parties pursuant to which one party pays the other a fixed periodic coupon for the specified life of the agreement. The other party makes no payment unless a credit event, relating to a predetermined reference asset, occurs. If such an event occurs, the party will then make a payment to the first party, and the swap will terminate. |
1–3, 5–8 |
Credit Currency Interest Rate Leverage Liquidity Management Market Political Valuation |
Custodial Receipts: A Fund may acquire securities in the form of custodial receipts that evidence ownership of future interest payments, principal payments or both on certain U.S. Treasury notes or bonds in connection with programs sponsored by banks and brokerage firms. These are not considered to be U.S. government securities. These notes and bonds are held in custody by a bank on behalf of the owners of the receipts. |
1–3, 5–8 |
Credit Liquidity Market |
Demand Features: Securities that are subject to puts and standby commitments to purchase the securities at a fixed price (usually with accrued interest) within a fixed period of time following demand by a Fund. |
1–8 |
Liquidity Management Market |
Exchange-Traded Funds (ETFs): Ownership interest in unit investment trusts, depositary receipts, and other pooled investment vehicles that hold a portfolio of securities or stocks designed to track the price performance and dividend yield of a particular broad-based, sector or international index. ETFs include a wide range of investments. |
1–3, 5–8 |
Investment Company Market |
Foreign Investments: Equity and debt securities (e.g., bonds and commercial paper) of foreign entities and obligations of foreign branches of U.S. banks and foreign banks. Foreign securities may also include American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs), European Depositary Receipts (EDRs) and American Depositary Securities. |
6 |
Foreign Investment Liquidity Market Political Prepayment Valuation |
INSTRUMENT |
FUND CODE |
RISK TYPE |
High Yield/High Risk Securities/Junk Bonds: Securities that are generally rated below investment grade by the primary rating agencies or are unrated but deemed by a Fund’s adviser to be of comparable quality. |
1-8 |
Credit Currency High Yield Securities Interest Rate Liquidity Market Political Portfolio Quality Valuation |
Inflation-Linked Debt Securities: Includes fixed and floating rate debt securities of varying maturities issued by the U.S. government as well as securities issued by other entities such as corporations, foreign governments and foreign issuers. |
4, 6 |
Credit Currency Interest Rate Political |
Interfund Lending: Involves lending money and borrowing money for temporary purposes through a credit facility. |
1–8 |
Credit Interest Rate Market |
Inverse Floating Rate Instruments: Leveraged variable debt instruments with interest rates that reset in the opposite direction from the market rate of interest to which the inverse floater is indexed. |
1–8 |
Credit Leverage Market |
Investment Company Securities: Shares of other investment companies, including money market funds for which the adviser and/or its affiliates serve as investment adviser or administrator. The adviser will waive certain fees when investing in funds for which it serves as investment adviser, to the extent required by law or by contract. |
1–8 |
Investment Company Market |
Loan Assignments and Participations: Assignments of, or participations in all or a portion of loans to corporations or to governments, including governments in less developed countries. |
1–3, 5–8 |
Credit Currency Extension Foreign Investment Interest Rate Liquidity Market Political Prepayment |
Master Limited Partnerships: Limited partnerships that are publicly traded on a securities exchange. |
6 |
Market |
Mortgages (Directly Held): Debt instruments secured by real property. |
6 |
Credit Environmental Extension Interest Rate Liquidity Market Natural Event Political Prepayment Valuation |
INSTRUMENT |
FUND CODE |
RISK TYPE |
Mortgage-Backed Securities: Debt obligations secured by real estate loans and pools of loans such as collateralized mortgage obligations (CMOs), commercial mortgage-backed securities (CMBSs) and other asset-backed structures. |
1–8 |
Credit Currency Extension Interest Rate Leverage Liquidity Market Political Prepayment Tax Valuation |
Mortgage Dollar Rolls1 : A transaction in which the Fund sells securities for delivery in a current month and simultaneously contracts with the same party to repurchase similar but not identical securities on a specified future date. |
2, 6 |
Currency Extension Interest Rate Leverage Liquidity Market Political Prepayment |
Municipal Securities: Securities issued by a state or political subdivision to obtain funds for various public purposes. Municipal securities include, among others, private activity bonds and industrial development bonds, as well as general obligation notes, tax anticipation notes, bond anticipation notes, revenue anticipation notes, other short-term tax-exempt obligations, municipal leases, obligations of municipal housing authorities and single family revenue bonds. |
1–8 |
Credit Interest Rate Market Natural Event Political Prepayment Tax Valuation |
New Financial Products: New options and futures contracts and other financial products continue to be developed and the Fund may invest in such options, contracts and products. |
1–8 |
Credit Liquidity Management Market |
Obligations of Supranational Agencies: Obligations which are chartered to promote economic development and are supported by various governments and governmental agencies. |
2 |
Credit Foreign Investment Liquidity Political Valuation |
Options and Futures Transactions: A Fund may purchase and sell (a) exchange traded and over- the-counter put and call options on securities, indexes of securities and futures contracts on securities and indexes of securities, and (b) futures contracts on securities and indexes of securities. |
1–8 |
Credit Leverage Liquidity Management Market |
Preferred Stock: A class of stock that generally pays a dividend at a specified rate and has preference over common stock in the payment of dividends and in liquidation. |
2, 6 |
Market |
Private Placements, Restricted Securities and Other Unregistered Securities: Securities not registered under the Securities Act of 1933, such as privately placed commercial paper and Rule 144A securities. |
1–8 |
Liquidity Market Valuation |
INSTRUMENT |
FUND CODE |
RISK TYPE |
Real Estate Investment Trusts (REITs): Pooled investment vehicles which invest primarily in income producing real estate or real estate related loans or interest. |
6 |
Credit Interest Rate Liquidity Management Market Political Prepayment Tax Valuation |
Repurchase Agreements: The purchase of a security and the simultaneous commitment to return the security to the seller at an agreed upon price on an agreed upon date. This is treated as a loan. |
1–8 |
Credit Liquidity Market |
Reverse Repurchase Agreements1: The sale of a security and the simultaneous commitment to buy the security back at an agreed upon price on an agreed upon date. This is treated as borrowing by a Fund. |
1, 4, 6 |
Credit Leverage Market |
Securities Issued in Connection with Reorganizations and Corporate Restructurings: In connection with reorganizing or restructuring of an issuer, an issuer may issue common stock or other securities to holders of its debt securities. |
6 |
Market |
Short Selling: A Fund sells a security it does not own in anticipation of a decline in the market value of the security. To complete the transaction, a Fund must borrow the security to make delivery to the buyer. A Fund is obligated to replace the security borrowed by purchasing it subsequently at the market price at the time of replacement. |
6 |
Credit Liquidity Market |
Short-Term Funding Agreements: Agreements issued by banks and highly rated U.S. insurance companies such as Guaranteed Investment Contracts (GICs) and Bank Investment Contracts (BICs). |
1–8 |
Credit Liquidity Market |
Sovereign Obligations: Investments in debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions. |
2, 6 |
Credit Foreign Investment Liquidity Political Valuation |
Stripped Mortgage-Backed Securities: Derivative multi-class mortgage securities which are usually structured with two classes of shares that receive different proportions of the interest and principal from a pool of mortgage assets. These include Interest Only (IO) and Principal Only (PO) securities issued outside a Real Estate Mortgage Investment Conduit (REMIC) or CMO structure. |
1–3, 5–8 |
Credit Liquidity Market Political Prepayment Valuation |
Structured Investments: A security having a return tied to an underlying index or other security or asset class. Structured investments generally are individually negotiated agreements and may be traded over-the-counter. Structured investments are organized and operated to restructure the investment characteristics of the underlying security. |
1–8 |
Credit Foreign Investment Liquidity Management Market Valuation |
INSTRUMENT |
FUND CODE |
RISK TYPE |
Swaps and Related Swap Products: Swaps involve an exchange of obligations by two parties. Caps and floors entitle a purchaser to a principal amount from the seller of the cap or floor to the extent that a specified index exceeds or falls below a predetermined interest rate or amount. A Fund may enter into these transactions to manage its exposure to changing interest rates and other factors. |
1–8 |
Credit Currency Interest Rate Leverage Liquidity Management Market Political Valuation |
Synthetic Variable Rate Instruments: Instruments that generally involve the deposit of a long- term tax exempt bond in a custody or trust arrangement and the creation of a mechanism to adjust the long-term interest rate on the bond to a variable short-term rate and a right (subject to certain conditions) on the part of the purchaser to tender it periodically to a third party at par. |
1–8 |
Credit Liquidity Market |
Temporary Defensive Positions: To respond to unusual circumstances a Fund may invest in cash and cash equivalents for temporary defensive purposes. |
1–8 |
Credit Interest Rate Liquidity Market |
Treasury Receipts: A Fund may purchase interests in separately traded interest and principal component parts of U.S. Treasury obligations that are issued by banks or brokerage firms and that are created by depositing U.S. Treasury notes and U.S. Treasury bonds into a special account at a custodian bank. Receipts include Treasury Receipts (TRs), Treasury Investment Growth Receipts (TIGRs) and Certificates of Accrual on Treasury Securities (CATS). |
1–8 |
Market |
Trust Preferreds: Securities with characteristics of both subordinated debt and preferred stock. Trust preferreds are generally long term securities that make periodic fixed or variable interest payments. |
6 |
Credit Currency Interest Rate Liquidity Market Political Valuation |
U.S. Government Agency Securities: Securities issued or guaranteed by agencies and instrumentalities of the U.S. government. These include all types of securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), including funding notes, subordinated benchmark notes, CMOs and Real Estate Mortgage Investment Conduits (REMICs). |
1–8 |
Credit Government Securities Interest Rate Market |
U.S. Government Obligations: May include direct obligations of the U.S. Treasury, including Treasury bills, notes and bonds, all of which are backed as to principal and interest payments by the full faith and credit of the United States, and separately traded principal and interest component parts of such obligations that are transferable through the Federal book-entry system known as Separate Trading of Registered Interest and Principal of Securities (STRIPS) and Coupons Under Book Entry Safekeeping (CUBES). |
1–8 |
Interest Rate Market |
Variable and Floating Rate Instruments: Obligations with interest rates which are reset daily, weekly, quarterly or some other frequency and which may be payable to a Fund on demand or at the expiration of a specified term. |
1–8 |
Credit Liquidity Market Valuation |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments: Purchase or contract to purchase securities at a fixed price for delivery at a future date. |
1–8 |
Credit Leverage Liquidity Market Valuation |
INSTRUMENT |
FUND CODE |
RISK TYPE |
Zero-Coupon, Pay-in-Kind and Deferred Payment Securities: Zero-coupon securities are securities that are sold at a discount to par value and on which interest payments are not made during the life of the security. Pay-in-kind securities are securities that have interest payable by delivery of additional securities. Deferred payment securities are zero-coupon debt securities which convert on a specified date to interest bearing debt securities. |
1–8 |
Credit Currency Interest Rate Liquidity Market Political Valuation Zero-Coupon Bond |
|
|
Per share operating performance | |||||
|
|
Investment operations |
Distributions | ||||
|
Net asset value, beginning of period |
Net investment income (loss) (a) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
Net realized gain |
Total distributions |
JPMorgan Sustainable Municipal Income Fund |
|
|
|
|
|
|
|
Class A |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
$9.96 |
$0.18 |
$(0.29) |
$(0.11) |
$(0.18) |
$— |
$(0.18) |
Year Ended February 28, 2021 |
10.02 |
0.17 |
(0.06) |
0.11 |
(0.17) |
— |
(0.17) |
Year Ended February 29, 2020 |
9.55 |
0.20 |
0.47 |
0.67 |
(0.20) |
— |
(0.20) |
Year Ended February 28, 2019 |
9.52 |
0.21 |
0.08 |
0.29 |
(0.21) |
(0.05) |
(0.26) |
Year Ended February 28, 2018 |
9.70 |
0.23 (d) |
(0.11) |
0.12 |
(0.23) |
(0.07) |
(0.30) |
Class C |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
9.86 |
0.12 |
(0.30) |
(0.18) |
(0.12) |
— |
(0.12) |
Year Ended February 28, 2021 |
9.92 |
0.11 |
(0.06) |
0.05 |
(0.11) |
— |
(0.11) |
Year Ended February 29, 2020 |
9.45 |
0.14 |
0.47 |
0.61 |
(0.14) |
— |
(0.14) |
Year Ended February 28, 2019 |
9.42 |
0.16 |
0.08 |
0.24 |
(0.16) |
(0.05) |
(0.21) |
Year Ended February 28, 2018 |
9.61 |
0.17 (d) |
(0.12) |
0.05 |
(0.17) |
(0.07) |
(0.24) |
Class I |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
9.88 |
0.20 |
(0.29) |
(0.09) |
(0.20) |
— |
(0.20) |
Year Ended February 28, 2021 |
9.95 |
0.19 |
(0.07) |
0.12 |
(0.19) |
— |
(0.19) |
Year Ended February 29, 2020 |
9.48 |
0.22 |
0.47 |
0.69 |
(0.22) |
— |
(0.22) |
Year Ended February 28, 2019 |
9.45 |
0.24 |
0.08 |
0.32 |
(0.24) |
(0.05) |
(0.29) |
Year Ended February 28, 2018 |
9.63 |
0.25 (d) |
(0.11) |
0.14 |
(0.25) |
(0.07) |
(0.32) |
|
Ratios/Supplemental data | |||||
|
|
|
Ratios to average net assets |
| ||
Net asset value, end of period |
Total return (excludes sales charge) (b) |
Net assets, end of period (000’s) |
Net expenses (c) |
Net investment income (loss) |
Expenses without waivers, reimbursements and earnings credits |
Portfolio turnover rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$9.67 |
(1.16)% |
$107,969 |
0.70% |
1.79% |
0.96% |
18% |
9.96 |
1.09 |
125,754 |
0.69 |
1.71 |
0.96 |
22 |
10.02 |
7.04 |
96,844 |
0.70 |
2.02 |
0.99 |
7 |
9.55 |
3.15 |
60,078 |
0.70 |
2.26 |
1.01 |
13 |
9.52 |
1.16 |
66,258 |
0.69 |
2.33 (d) |
1.01 |
21 |
|
|
|
|
|
|
|
9.56 |
(1.82) |
7,156 |
1.25 |
1.24 |
1.46 |
18 |
9.86 |
0.54 |
9,178 |
1.24 |
1.16 |
1.46 |
22 |
9.92 |
6.52 |
12,868 |
1.25 |
1.49 |
1.51 |
7 |
9.45 |
2.61 |
12,833 |
1.25 |
1.71 |
1.51 |
13 |
9.42 |
0.51 |
15,138 |
1.24 |
1.78 (d) |
1.51 |
21 |
|
|
|
|
|
|
|
9.59 |
(0.92) |
116,395 |
0.45 |
2.04 |
0.71 |
18 |
9.88 |
1.25 |
111,724 |
0.44 |
1.96 |
0.71 |
22 |
9.95 |
7.36 |
114,772 |
0.44 |
2.28 |
0.74 |
7 |
9.48 |
3.43 |
74,386 |
0.45 |
2.51 |
0.76 |
13 |
9.45 |
1.42 |
71,161 |
0.44 |
2.57 (d) |
0.74 |
21 |
|
|
Per share operating performance | |||
|
|
Investment operations |
Distributions | ||
|
Net asset value, beginning of period |
Net investment income (loss) (a) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
JPMorgan Short-Intermediate Municipal Bond Fund |
|
|
|
|
|
Class A |
|
|
|
|
|
Year Ended February 28, 2022 |
$10.78 |
$0.11 |
$(0.32) |
$(0.21) |
$(0.11) |
Year Ended February 28, 2021 |
10.86 |
0.13 |
(0.08) |
0.05 |
(0.13) |
Year Ended February 29, 2020 |
10.49 |
0.16 |
0.37 |
0.53 |
(0.16) |
Year Ended February 28, 2019 |
10.39 |
0.16 |
0.10 |
0.26 |
(0.16) |
Year Ended February 28, 2018 |
10.48 |
0.12 |
(0.09) |
0.03 |
(0.12) |
Class C |
|
|
|
|
|
Year Ended February 28, 2022 |
10.88 |
0.06 |
(0.32) |
(0.26) |
(0.06) |
Year Ended February 28, 2021 |
10.96 |
0.08 |
(0.09) |
(0.01) |
(0.07) |
Year Ended February 29, 2020 |
10.59 |
0.11 |
0.37 |
0.48 |
(0.11) |
Year Ended February 28, 2019 |
10.48 |
0.11 |
0.11 |
0.22 |
(0.11) |
Year Ended February 28, 2018 |
10.56 |
0.06 |
(0.08) |
(0.02) |
(0.06) |
Class I |
|
|
|
|
|
Year Ended February 28, 2022 |
10.84 |
0.16 |
(0.32) |
(0.16) |
(0.16) |
Year Ended February 28, 2021 |
10.92 |
0.18 |
(0.09) |
0.09 |
(0.17) |
Year Ended February 29, 2020 |
10.55 |
0.21 |
0.37 |
0.58 |
(0.21) |
Year Ended February 28, 2019 |
10.44 |
0.21 |
0.11 |
0.32 |
(0.21) |
Year Ended February 28, 2018 |
10.53 |
0.16 |
(0.09) |
0.07 |
(0.16) |
|
Ratios/Supplemental data | |||||
|
|
|
Ratios to average net assets |
| ||
Net asset value, end of period |
Total return (excludes sales charge) (b) |
Net assets, end of period (000’s) |
Net expenses (c) |
Net investment income (loss) |
Expenses without waivers, reimbursements and earnings credits |
Portfolio turnover rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$10.46 |
(1.96)% |
$93,976 |
0.70% |
1.02% |
0.85% |
21% |
10.78 |
0.43 |
80,956 |
0.69 |
1.20 |
0.86 |
21 |
10.86 |
5.12 |
53,408 |
0.70 |
1.48 |
0.86 |
24 |
10.49 |
2.55 |
33,554 |
0.70 |
1.54 |
0.86 |
42 |
10.39 |
0.26 |
32,373 |
0.69 |
1.10 |
0.86 |
73 |
|
|
|
|
|
|
|
10.56 |
(2.45) |
3,473 |
1.20 |
0.52 |
1.36 |
21 |
10.88 |
(0.09) |
4,626 |
1.19 |
0.72 |
1.36 |
21 |
10.96 |
4.52 |
4,303 |
1.20 |
0.99 |
1.36 |
24 |
10.59 |
2.10 |
4,590 |
1.20 |
1.03 |
1.38 |
42 |
10.48 |
(0.19) |
6,406 |
1.19 |
0.56 |
1.37 |
73 |
|
|
|
|
|
|
|
10.52 |
(1.51) |
823,600 |
0.25 |
1.47 |
0.60 |
21 |
10.84 |
0.87 |
829,847 |
0.24 |
1.66 |
0.60 |
21 |
10.92 |
5.56 |
641,836 |
0.24 |
1.94 |
0.61 |
24 |
10.55 |
3.09 |
573,350 |
0.25 |
1.97 |
0.61 |
42 |
10.44 |
0.70 |
1,680,807 |
0.24 |
1.53 |
0.60 |
73 |
|
|
Per share operating performance | |||
|
|
Investment operations |
Distributions | ||
|
Net asset value, beginning of period |
Net investment income (loss) (a) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
JPMorgan Tax Free Bond Fund |
|
|
|
|
|
Class A |
|
|
|
|
|
Year Ended February 28, 2022 |
$12.46 |
$0.27 |
$(0.31) |
$(0.04) |
$(0.27) |
Year Ended February 28, 2021 |
12.66 |
0.28 |
(0.20) |
0.08 |
(0.28) |
Year Ended February 29, 2020 |
11.77 |
0.32 |
0.89 |
1.21 |
(0.32) |
Year Ended February 28, 2019 |
11.82 |
0.40 |
(0.05) |
0.35 |
(0.40) |
Year Ended February 28, 2018 |
11.93 |
0.39 |
(0.11) |
0.28 |
(0.39) |
Class C |
|
|
|
|
|
Year Ended February 28, 2022 |
12.35 |
0.19 |
(0.31) |
(0.12) |
(0.19) |
Year Ended February 28, 2021 |
12.55 |
0.21 |
(0.21) |
— (d) |
(0.20) |
Year Ended February 29, 2020 |
11.67 |
0.25 |
0.87 |
1.12 |
(0.24) |
Year Ended February 28, 2019 |
11.72 |
0.33 |
(0.05) |
0.28 |
(0.33) |
Year Ended February 28, 2018 |
11.84 |
0.32 |
(0.12) |
0.20 |
(0.32) |
Class I |
|
|
|
|
|
Year Ended February 28, 2022 |
12.41 |
0.29 |
(0.32) |
(0.03) |
(0.29) |
Year Ended February 28, 2021 |
12.61 |
0.31 |
(0.21) |
0.10 |
(0.30) |
Year Ended February 29, 2020 |
11.72 |
0.34 |
0.89 |
1.23 |
(0.34) |
Year Ended February 28, 2019 |
11.77 |
0.42 |
(0.05) |
0.37 |
(0.42) |
Year Ended February 28, 2018 |
11.88 |
0.42 |
(0.11) |
0.31 |
(0.42) |
|
Ratios/Supplemental data | |||||
|
|
|
Ratios to average net assets |
| ||
Net asset value, end of period |
Total return (excludes sales charge) (b) |
Net assets, end of period (000’s) |
Net expenses (c) |
Net investment income (loss) |
Expenses without waivers, reimbursements and earnings credits |
Portfolio turnover rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$12.15 |
(0.40)% |
$330,640 |
0.67% |
2.12% |
0.94% |
16% |
12.46 |
0.66 |
302,134 |
0.66 |
2.28 |
0.95 |
23 |
12.66 |
10.37 |
231,815 |
0.67 |
2.58 |
0.97 |
31 |
11.77 |
3.00 |
132,813 |
0.67 |
3.40 |
1.00 |
53 |
11.82 |
2.36 |
130,462 |
0.66 |
3.27 |
0.98 |
39 |
|
|
|
|
|
|
|
12.04 |
(0.99) |
12,535 |
1.25 |
1.54 |
1.44 |
16 |
12.35 |
0.07 |
16,524 |
1.24 |
1.70 |
1.45 |
23 |
12.55 |
9.73 |
26,965 |
1.25 |
2.05 |
1.48 |
31 |
11.67 |
2.43 |
27,701 |
1.25 |
2.81 |
1.49 |
53 |
11.72 |
1.70 |
25,172 |
1.24 |
2.69 |
1.48 |
39 |
|
|
|
|
|
|
|
12.09 |
(0.27) |
173,023 |
0.45 |
2.34 |
0.69 |
16 |
12.41 |
0.88 |
176,073 |
0.45 |
2.50 |
0.70 |
23 |
12.61 |
10.66 |
177,584 |
0.45 |
2.82 |
0.72 |
31 |
11.72 |
3.24 |
135,295 |
0.45 |
3.61 |
0.74 |
53 |
11.77 |
2.60 |
160,391 |
0.44 |
3.49 |
0.72 |
39 |
|
|
Per share operating performance | |||
|
|
Investment operations |
Distributions | ||
|
Net asset value, beginning of period |
Net investment income (loss) (a) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
JPMorgan Ultra-Short Municipal Fund |
|
|
|
|
|
Class A |
|
|
|
|
|
Year Ended February 28, 2022 |
$10.07 |
$0.01 |
$(0.09) |
$(0.08) |
$(0.01) |
Year Ended February 28, 2021 |
10.08 |
0.03 |
— (d) |
0.03 |
(0.04) |
Year Ended February 29, 2020 |
10.03 |
0.12 |
0.06 |
0.18 |
(0.13) |
Year Ended February 28, 2019 |
10.01 |
0.13 |
— (d) |
0.13 |
(0.11) |
Year Ended February 28, 2018 |
10.02 |
0.07 |
(0.02) |
0.05 |
(0.06) |
Class I |
|
|
|
|
|
Year Ended February 28, 2022 |
10.06 |
0.03 |
(0.08) |
(0.05) |
(0.03) |
Year Ended February 28, 2021 |
10.07 |
0.05 |
— (d) |
0.05 |
(0.06) |
Year Ended February 29, 2020 |
10.02 |
0.14 |
0.05 |
0.19 |
(0.14) |
Year Ended February 28, 2019 |
10.00 |
0.14 |
0.02 |
0.16 |
(0.14) |
Year Ended February 28, 2018 |
10.02 |
0.09 |
(0.03) |
0.06 |
(0.08) |
|
Ratios/Supplemental data | |||||
|
|
|
Ratios to average net assets |
| ||
Net asset value, end of period |
Total return (excludes sales charge) (b) |
Net assets, end of period (000’s) |
Net expenses (c) |
Net investment income (loss) |
Expenses without waivers, reimbursements and earnings credits |
Portfolio turnover rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$9.98 |
(0.83)% |
$72,506 |
0.45% |
0.06% |
0.75% |
33% |
10.07 |
0.30 |
143,944 |
0.44 |
0.35 |
0.75 |
71 |
10.08 |
1.76 |
106,625 |
0.45 |
1.23 |
0.76 |
48 |
10.03 |
1.33 |
67,256 |
0.44 |
1.32 |
0.77 |
50 |
10.01 |
0.47 |
772 |
0.44 (e) |
0.67 (e) |
0.85 (e) |
71 |
|
|
|
|
|
|
|
9.98 |
(0.53) |
3,984,195 |
0.25 |
0.26 |
0.50 |
33 |
10.06 |
0.51 |
6,666,678 |
0.24 |
0.53 |
0.50 |
71 |
10.07 |
1.96 |
4,050,886 |
0.25 |
1.43 |
0.50 |
48 |
10.02 |
1.60 |
3,021,190 |
0.24 |
1.42 |
0.52 |
50 |
10.00 |
0.63 |
2,064,297 |
0.24 (e) |
0.90 (e) |
0.56 (e) |
71 |
|
|
Per share operating performance | |||
|
|
Investment operations |
Distributions | ||
|
Net asset value, beginning of period |
Net investment income (loss) (a) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
JPMorgan California Tax Free Bond Fund |
|
|
|
|
|
Class A |
|
|
|
|
|
Year Ended February 28, 2022 |
$11.06 |
$0.16 |
$(0.38) |
$(0.22) |
$(0.16) |
Year Ended February 28, 2021 |
11.25 |
0.17 |
(0.19) |
(0.02) |
(0.17) |
Year Ended February 29, 2020 |
10.71 |
0.23 |
0.54 |
0.77 |
(0.23) |
Year Ended February 28, 2019 |
10.64 |
0.28 |
0.07 |
0.35 |
(0.28) |
Year Ended February 28, 2018 |
10.78 |
0.28 |
(0.14) |
0.14 |
(0.28) |
Class C |
|
|
|
|
|
Year Ended February 28, 2022 |
10.96 |
0.10 |
(0.37) |
(0.27) |
(0.10) |
Year Ended February 28, 2021 |
11.15 |
0.12 |
(0.20) |
(0.08) |
(0.11) |
Year Ended February 29, 2020 |
10.62 |
0.18 |
0.53 |
0.71 |
(0.18) |
Year Ended February 28, 2019 |
10.55 |
0.22 |
0.07 |
0.29 |
(0.22) |
Year Ended February 28, 2018 |
10.69 |
0.22 |
(0.14) |
0.08 |
(0.22) |
Class I |
|
|
|
|
|
Year Ended February 28, 2022 |
10.80 |
0.17 |
(0.37) |
(0.20) |
(0.17) |
Year Ended February 28, 2021 |
10.99 |
0.18 |
(0.19) |
(0.01) |
(0.18) |
Year Ended February 29, 2020 |
10.47 |
0.24 |
0.52 |
0.76 |
(0.24) |
Year Ended February 28, 2019 |
10.41 |
0.28 |
0.07 |
0.35 |
(0.29) |
Year Ended February 28, 2018 |
10.55 |
0.29 |
(0.14) |
0.15 |
(0.29) |
|
Ratios/Supplemental data | |||||
|
|
|
Ratios to average net assets |
| ||
Net asset value, end of period |
Total return (excludes sales charge) (b) |
Net assets, end of period (000’s) |
Net expenses (c) |
Net investment income (loss) |
Expenses without waivers, reimbursements and earnings credits |
Portfolio turnover rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$10.68 |
(2.05)% |
$136,939 |
0.60% |
1.43% |
0.94% |
11% |
11.06 |
(0.19) |
154,108 |
0.59 |
1.54 |
0.93 |
6 |
11.25 |
7.29 |
126,253 |
0.60 |
2.13 |
0.96 |
8 |
10.71 |
3.31 |
67,275 |
0.60 |
2.63 |
0.97 |
17 |
10.64 |
1.27 |
69,092 |
0.60 |
2.58 |
0.98 |
8 |
|
|
|
|
|
|
|
10.59 |
(2.47) |
24,442 |
1.10 |
0.93 |
1.43 |
11 |
10.96 |
(0.70) |
33,234 |
1.09 |
1.07 |
1.43 |
6 |
11.15 |
6.72 |
52,168 |
1.10 |
1.66 |
1.47 |
8 |
10.62 |
2.82 |
46,950 |
1.10 |
2.13 |
1.48 |
17 |
10.55 |
0.78 |
54,655 |
1.10 |
2.08 |
1.48 |
8 |
|
|
|
|
|
|
|
10.43 |
(1.90) |
80,566 |
0.50 |
1.53 |
0.68 |
11 |
10.80 |
(0.09) |
100,163 |
0.49 |
1.62 |
0.68 |
6 |
10.99 |
7.37 |
60,122 |
0.50 |
2.26 |
0.71 |
8 |
10.47 |
3.39 |
62,069 |
0.50 |
2.72 |
0.72 |
17 |
10.41 |
1.41 |
143,734 |
0.50 |
2.68 |
0.71 |
8 |
|
|
Per share operating performance | |||||
|
|
Investment operations |
Distributions | ||||
|
Net asset value, beginning of period |
Net investment income (loss) (a) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
Net realized gain |
Total distributions |
JPMorgan High Yield Municipal Fund |
|
|
|
|
|
|
|
Class A |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
$11.50 |
$0.34 |
$(0.17) |
$0.17 |
$(0.34) |
$— |
$(0.34) |
Year Ended February 28, 2021 |
11.93 |
0.33 |
(0.42) |
(0.09) |
(0.33) |
(0.01) |
(0.34) |
Year Ended February 29, 2020 |
10.88 |
0.32 |
1.05 |
1.37 |
(0.31) |
(0.01) |
(0.32) |
Year Ended February 28, 2019 |
10.78 |
0.36 |
0.09 |
0.45 |
(0.35) |
— |
(0.35) |
Year Ended February 28, 2018 |
10.82 |
0.28 |
(0.04) |
0.24 |
(0.28) |
— |
(0.28) |
Class C |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
11.47 |
0.28 |
(0.17) |
0.11 |
(0.28) |
— |
(0.28) |
Year Ended February 28, 2021 |
11.90 |
0.28 |
(0.43) |
(0.15) |
(0.27) |
(0.01) |
(0.28) |
Year Ended February 29, 2020 |
10.85 |
0.27 |
1.05 |
1.32 |
(0.26) |
(0.01) |
(0.27) |
Year Ended February 28, 2019 |
10.76 |
0.30 |
0.09 |
0.39 |
(0.30) |
— |
(0.30) |
Year Ended February 28, 2018 |
10.80 |
0.22 |
(0.03) |
0.19 |
(0.23) |
— |
(0.23) |
Class I |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
11.50 |
0.35 |
(0.17) |
0.18 |
(0.35) |
— |
(0.35) |
Year Ended February 28, 2021 |
11.93 |
0.34 |
(0.42) |
(0.08) |
(0.34) |
(0.01) |
(0.35) |
Year Ended February 29, 2020 |
10.87 |
0.34 |
1.06 |
1.40 |
(0.33) |
(0.01) |
(0.34) |
Year Ended February 28, 2019 |
10.78 |
0.37 |
0.08 |
0.45 |
(0.36) |
— |
(0.36) |
Year Ended February 28, 2018 |
10.82 |
0.29 |
(0.03) |
0.26 |
(0.30) |
— |
(0.30) |
|
Ratios/Supplemental data | |||||
|
|
|
Ratios to average net assets |
| ||
Net asset value, end of period |
Total return (excludes sales charge) (b) |
Net assets, end of period (000’s) |
Net expenses (c) |
Net investment income (loss) |
Expenses without waivers, reimbursements and earnings credits |
Portfolio turnover rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$11.33 |
1.39% |
$195,574 |
0.65% |
2.87% |
1.01% |
24% |
11.50 |
(0.61) |
179,459 |
0.65 |
2.99 |
1.02 |
39 |
11.93 |
12.81 |
194,623 |
0.64 |
2.80 |
1.06 |
18 |
10.88 |
4.28 |
43,565 |
0.64 |
3.32 |
1.22 |
130 |
10.78 |
2.25 |
35,071 |
0.64 |
2.56 |
1.20 |
17 |
|
|
|
|
|
|
|
11.30 |
0.89 |
28,844 |
1.15 |
2.37 |
1.51 |
24 |
11.47 |
(1.11) |
32,499 |
1.14 |
2.50 |
1.51 |
39 |
11.90 |
12.29 |
37,623 |
1.14 |
2.34 |
1.57 |
18 |
10.85 |
3.67 |
17,929 |
1.14 |
2.82 |
1.71 |
130 |
10.76 |
1.74 |
18,675 |
1.14 |
2.06 |
1.70 |
17 |
|
|
|
|
|
|
|
11.33 |
1.50 |
247,902 |
0.55 |
2.97 |
0.76 |
24 |
11.50 |
(0.51) |
256,624 |
0.55 |
3.09 |
0.76 |
39 |
11.93 |
13.02 |
296,450 |
0.54 |
2.92 |
0.81 |
18 |
10.87 |
4.29 |
95,662 |
0.54 |
3.45 |
0.97 |
130 |
10.78 |
2.36 |
51,274 |
0.54 |
2.66 |
0.95 |
17 |
|
|
Per share operating performance | |||||
|
|
Investment operations |
Distributions | ||||
|
Net asset value, beginning of period |
Net investment income (loss) (a) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
Net realized gain |
Total distributions |
JPMorgan Intermediate Tax Free Bond Fund |
|
|
|
|
|
|
|
Class A |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
$11.37 |
$0.23 |
$(0.37) |
$(0.14) |
$(0.23) |
$(0.09) |
$(0.32) |
Year Ended February 28, 2021 |
11.52 |
0.22 |
(0.16) |
0.06 |
(0.21) |
— |
(0.21) |
Year Ended February 29, 2020 |
10.91 |
0.24 |
0.61 |
0.85 |
(0.24) |
— |
(0.24) |
Year Ended February 28, 2019 |
10.80 |
0.25 |
0.11 |
0.36 |
(0.25) |
— |
(0.25) |
Year Ended February 28, 2018 |
10.94 |
0.24 |
(0.15) |
0.09 |
(0.23) |
— |
(0.23) |
Class C |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
11.07 |
0.17 |
(0.36) |
(0.19) |
(0.17) |
(0.09) |
(0.26) |
Year Ended February 28, 2021 |
11.23 |
0.15 |
(0.16) |
(0.01) |
(0.15) |
— |
(0.15) |
Year Ended February 29, 2020 |
10.63 |
0.18 |
0.60 |
0.78 |
(0.18) |
— |
(0.18) |
Year Ended February 28, 2019 |
10.53 |
0.18 |
0.11 |
0.29 |
(0.19) |
— |
(0.19) |
Year Ended February 28, 2018 |
10.68 |
0.18 |
(0.15) |
0.03 |
(0.18) |
— |
(0.18) |
Class I |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
11.15 |
0.26 |
(0.37) |
(0.11) |
(0.26) |
(0.09) |
(0.35) |
Year Ended February 28, 2021 |
11.31 |
0.24 |
(0.16) |
0.08 |
(0.24) |
— |
(0.24) |
Year Ended February 29, 2020 |
10.71 |
0.27 |
0.60 |
0.87 |
(0.27) |
— |
(0.27) |
Year Ended February 28, 2019 |
10.61 |
0.27 |
0.10 |
0.37 |
(0.27) |
— |
(0.27) |
Year Ended February 28, 2018 |
10.75 |
0.27 |
(0.14) |
0.13 |
(0.27) |
— |
(0.27) |
|
Ratios/Supplemental data | |||||
|
|
|
Ratios to average net assets |
| ||
Net asset value, end of period |
Total return (excludes sales charge) (b) |
Net assets, end of period (000’s) |
Net expenses (c) |
Net investment income (loss) |
Expenses without waivers, reimbursements and earnings credits |
Portfolio turnover rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$10.91 |
(1.29)% |
$341,321 |
0.65% |
2.06% |
0.90% |
12% |
11.37 |
0.57 |
308,709 |
0.64 |
1.93 |
0.90 |
34 |
11.52 |
7.86 |
250,087 |
0.65 |
2.17 |
0.90 |
20 |
10.91 |
3.34 |
222,295 |
0.64 |
2.32 |
0.90 |
48 |
10.80 |
0.83 |
174,653 |
0.71 |
2.17 |
0.91 |
30 |
|
|
|
|
|
|
|
10.62 |
(1.77) |
14,423 |
1.20 |
1.51 |
1.40 |
12 |
11.07 |
(0.07) |
19,061 |
1.19 |
1.38 |
1.40 |
34 |
11.23 |
7.38 |
29,173 |
1.20 |
1.63 |
1.40 |
20 |
10.63 |
2.76 |
37,603 |
1.19 |
1.76 |
1.40 |
48 |
10.53 |
0.24 |
50,481 |
1.22 |
1.65 |
1.41 |
30 |
|
|
|
|
|
|
|
10.69 |
(1.06) |
655,190 |
0.40 |
2.31 |
0.65 |
12 |
11.15 |
0.75 |
622,009 |
0.39 |
2.17 |
0.65 |
34 |
11.31 |
8.19 |
660,041 |
0.40 |
2.42 |
0.64 |
20 |
10.71 |
3.57 |
523,544 |
0.39 |
2.57 |
0.65 |
48 |
10.61 |
1.17 |
770,626 |
0.39 |
2.45 |
0.64 |
30 |
|
|
Per share operating performance | |||
|
|
Investment operations |
Distributions | ||
|
Net asset value, beginning of period |
Net investment income (loss) (a) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
JPMorgan New York Tax Free Bond Fund |
|
|
|
|
|
Class A |
|
|
|
|
|
Year Ended February 28, 2022 |
$6.93 |
$0.11 |
$(0.21) |
$(0.10) |
$(0.12) |
Year Ended February 28, 2021 |
7.06 |
0.12 |
(0.13) |
(0.01) |
(0.12) |
Year Ended February 29, 2020 |
6.71 |
0.14 |
0.35 |
0.49 |
(0.14) |
Year Ended February 28, 2019 |
6.70 |
0.18 |
0.01 |
0.19 |
(0.18) |
Year Ended February 28, 2018 |
6.84 |
0.20 |
(0.14) |
0.06 |
(0.20) |
Class C |
|
|
|
|
|
Year Ended February 28, 2022 |
6.93 |
0.08 |
(0.22) |
(0.14) |
(0.08) |
Year Ended February 28, 2021 |
7.05 |
0.09 |
(0.13) |
(0.04) |
(0.08) |
Year Ended February 29, 2020 |
6.71 |
0.10 |
0.34 |
0.44 |
(0.10) |
Year Ended February 28, 2019 |
6.69 |
0.14 |
0.02 |
0.16 |
(0.14) |
Year Ended February 28, 2018 |
6.84 |
0.16 |
(0.15) |
0.01 |
(0.16) |
Class I |
|
|
|
|
|
Year Ended February 28, 2022 |
6.96 |
0.13 |
(0.21) |
(0.08) |
(0.13) |
Year Ended February 28, 2021 |
7.09 |
0.14 |
(0.13) |
0.01 |
(0.14) |
Year Ended February 29, 2020 |
6.75 |
0.15 |
0.34 |
0.49 |
(0.15) |
Year Ended February 28, 2019 |
6.73 |
0.20 |
0.01 |
0.21 |
(0.19) |
Year Ended February 28, 2018 |
6.87 |
0.21 |
(0.14) |
0.07 |
(0.21) |
|
Ratios/Supplemental data | |||||
|
|
|
Ratios to average net assets |
| ||
Net asset value, end of period |
Total return (excludes sales charge) (b) |
Net assets, end of period (000’s) |
Net expenses (c) |
Net investment income (loss) |
Expenses without waivers, reimbursements and earnings credits |
Portfolio turnover rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$6.71 |
(1.55)% |
$143,940 |
0.75% |
1.60% |
0.94% |
10% |
6.93 |
(0.13) |
166,435 |
0.74 |
1.77 |
0.93 |
5 |
7.06 |
7.31 |
164,358 |
0.75 |
1.96 |
0.95 |
13 |
6.71 |
2.86 |
120,371 |
0.75 |
2.66 |
0.96 |
21 |
6.70 |
0.81 |
128,973 |
0.75 |
2.85 |
0.96 |
8 |
|
|
|
|
|
|
|
6.71 |
(2.05) |
24,776 |
1.25 |
1.10 |
1.44 |
10 |
6.93 |
(0.51) |
31,173 |
1.24 |
1.26 |
1.43 |
5 |
7.05 |
6.62 |
57,781 |
1.25 |
1.49 |
1.45 |
13 |
6.71 |
2.50 |
67,242 |
1.25 |
2.16 |
1.45 |
21 |
6.69 |
0.15 |
83,807 |
1.25 |
2.35 |
1.45 |
8 |
|
|
|
|
|
|
|
6.75 |
(1.16) |
76,802 |
0.50 |
1.85 |
0.69 |
10 |
6.96 |
0.12 |
87,928 |
0.49 |
2.02 |
0.68 |
5 |
7.09 |
7.38 |
105,497 |
0.50 |
2.22 |
0.70 |
13 |
6.75 |
3.26 |
87,158 |
0.50 |
2.92 |
0.70 |
21 |
6.73 |
1.06 |
163,141 |
0.50 |
3.10 |
0.69 |
8 |
|
|
|
|
|
Class |
Net Expense Ratio |
Gross Expense Ratio |
JPMorgan Sustainable Municipal Income Fund |
A |
0.70% |
0.96% |
|
C |
1.25% |
1.46% |
|
I |
0.45% |
0.71% |
JPMorgan Short-Intermediate Municipal Bond Fund |
A |
0.70% |
0.86% |
|
C |
1.20% |
1.37% |
|
I |
0.25% |
0.61% |
JPMorgan Tax Free Bond Fund |
A |
0.67% |
0.94% |
|
C |
1.25% |
1.44% |
|
I |
0.45% |
0.69% |
JPMorgan Intermediate Tax Free Bond Fund |
A |
0.65% |
0.90% |
|
C |
1.20% |
1.40% |
|
I |
0.40% |
0.65% |
JPMorgan Sustainable Municipal Income Fund | ||||||||
|
Class A |
Class C1 | ||||||
Period Ended |
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
June 30, 2023 |
$444 |
1.06% |
0.39% |
0.39% |
$127 |
5.00% |
3.75% |
3.75% |
June 30, 2024 |
98 |
6.12 |
4.44 |
4.04 |
154 |
10.25 |
7.42 |
3.54 |
June 30, 2025 |
102 |
11.42 |
8.66 |
4.04 |
160 |
15.76 |
11.23 |
3.54 |
June 30, 2026 |
106 |
16.99 |
13.05 |
4.04 |
165 |
21.55 |
15.16 |
3.54 |
June 30, 2027 |
111 |
22.84 |
17.62 |
4.04 |
171 |
27.63 |
19.24 |
3.54 |
June 30, 2028 |
115 |
28.98 |
22.37 |
4.04 |
177 |
34.01 |
23.46 |
3.54 |
June 30, 2029 |
120 |
35.43 |
27.32 |
4.04 |
183 |
40.71 |
27.83 |
3.54 |
June 30, 2030 |
125 |
42.21 |
32.46 |
4.04 |
190 |
47.75 |
32.36 |
3.54 |
June 30, 2031 |
130 |
49.32 |
37.81 |
4.04 |
130 |
55.13 |
37.70 |
4.04 |
June 30, 2032 |
135 |
56.78 |
43.38 |
4.04 |
135 |
62.89 |
43.27 |
4.04 |
|
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
|
|
$227 |
4.00% |
2.75% |
2.75% |
|
| ||||
|
Class I | |||
Period Ended |
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
June 30, 2023 |
$46 |
5.00% |
4.55% |
4.55% |
June 30, 2024 |
76 |
10.25 |
9.04 |
4.29 |
June 30, 2025 |
79 |
15.76 |
13.71 |
4.29 |
June 30, 2026 |
82 |
21.55 |
18.59 |
4.29 |
June 30, 2027 |
86 |
27.63 |
23.68 |
4.29 |
June 30, 2028 |
90 |
34.01 |
28.98 |
4.29 |
June 30, 2029 |
94 |
40.71 |
34.52 |
4.29 |
June 30, 2030 |
98 |
47.75 |
40.29 |
4.29 |
June 30, 2031 |
102 |
55.13 |
46.31 |
4.29 |
June 30, 2032 |
106 |
62.89 |
52.58 |
4.29 |
JPMorgan Short-Intermediate Municipal Bond Fund | ||||||||
|
Class A |
Class C1 | ||||||
Period Ended |
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
June 30, 2023 |
$295 |
2.64% |
1.95% |
1.95% |
$122 |
5.00% |
3.80% |
3.80% |
June 30, 2024 |
89 |
7.77 |
6.17 |
4.14 |
145 |
10.25 |
7.57 |
3.63 |
June 30, 2025 |
93 |
13.16 |
10.57 |
4.14 |
150 |
15.76 |
11.47 |
3.63 |
June 30, 2026 |
97 |
18.82 |
15.15 |
4.14 |
155 |
21.55 |
15.52 |
3.63 |
June 30, 2027 |
101 |
24.76 |
19.91 |
4.14 |
161 |
27.63 |
19.71 |
3.63 |
June 30, 2028 |
105 |
30.99 |
24.88 |
4.14 |
167 |
34.01 |
24.06 |
3.63 |
June 30, 2029 |
110 |
37.54 |
30.05 |
4.14 |
173 |
40.71 |
28.56 |
3.63 |
June 30, 2030 |
114 |
44.42 |
35.43 |
4.14 |
179 |
47.75 |
33.23 |
3.63 |
June 30, 2031 |
119 |
51.64 |
41.04 |
4.14 |
117 |
55.13 |
38.74 |
4.14 |
June 30, 2032 |
124 |
59.22 |
46.88 |
4.14 |
122 |
62.89 |
44.49 |
4.14 |
|
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
|
|
$222 |
4.00% |
2.80% |
2.80% |
|
| ||||
|
Class I | |||
Period Ended |
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
June 30, 2023 |
$26 |
5.00% |
4.75% |
4.75% |
June 30, 2024 |
65 |
10.25 |
9.35 |
4.39 |
June 30, 2025 |
68 |
15.76 |
14.15 |
4.39 |
June 30, 2026 |
71 |
21.55 |
19.16 |
4.39 |
June 30, 2027 |
74 |
27.63 |
24.39 |
4.39 |
June 30, 2028 |
78 |
34.01 |
29.85 |
4.39 |
June 30, 2029 |
81 |
40.71 |
35.55 |
4.39 |
June 30, 2030 |
85 |
47.75 |
41.50 |
4.39 |
June 30, 2031 |
88 |
55.13 |
47.72 |
4.39 |
June 30, 2032 |
92 |
62.89 |
54.20 |
4.39 |
JPMorgan Tax Free Bond Fund | ||||||||
|
Class A |
Class C1 | ||||||
Period Ended |
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
June 30, 2023 |
$441 |
1.06% |
0.42% |
0.42% |
$127 |
5.00% |
3.75% |
3.75% |
June 30, 2024 |
96 |
6.12 |
4.49 |
4.06 |
152 |
10.25 |
7.44 |
3.56 |
June 30, 2025 |
100 |
11.42 |
8.74 |
4.06 |
157 |
15.76 |
11.27 |
3.56 |
June 30, 2026 |
104 |
16.99 |
13.15 |
4.06 |
163 |
21.55 |
15.23 |
3.56 |
June 30, 2027 |
109 |
22.84 |
17.75 |
4.06 |
169 |
27.63 |
19.33 |
3.56 |
June 30, 2028 |
113 |
28.98 |
22.53 |
4.06 |
175 |
34.01 |
23.58 |
3.56 |
June 30, 2029 |
118 |
35.43 |
27.50 |
4.06 |
181 |
40.71 |
27.98 |
3.56 |
June 30, 2030 |
122 |
42.21 |
32.68 |
4.06 |
188 |
47.75 |
32.54 |
3.56 |
June 30, 2031 |
127 |
49.32 |
38.06 |
4.06 |
127 |
55.13 |
37.92 |
4.06 |
June 30, 2032 |
132 |
56.78 |
43.67 |
4.06 |
132 |
62.89 |
43.52 |
4.06 |
|
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
|
|
$227 |
4.00% |
2.75% |
2.75% |
|
| ||||
|
Class I | |||
Period Ended |
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
June 30, 2023 |
$46 |
5.00% |
4.55% |
4.55% |
June 30, 2024 |
74 |
10.25 |
9.06 |
4.31 |
June 30, 2025 |
77 |
15.76 |
13.76 |
4.31 |
June 30, 2026 |
80 |
21.55 |
18.66 |
4.31 |
June 30, 2027 |
84 |
27.63 |
23.77 |
4.31 |
June 30, 2028 |
87 |
34.01 |
29.11 |
4.31 |
June 30, 2029 |
91 |
40.71 |
34.67 |
4.31 |
June 30, 2030 |
95 |
47.75 |
40.48 |
4.31 |
June 30, 2031 |
99 |
55.13 |
46.53 |
4.31 |
June 30, 2032 |
103 |
62.89 |
52.85 |
4.31 |
JPMorgan Intermediate Tax Free Bond Fund | ||||||||
|
Class A |
Class C1 | ||||||
Period Ended |
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
June 30, 2023 |
$439 |
1.06% |
0.44% |
0.44% |
$122 |
5.00% |
3.80% |
3.80% |
June 30, 2024 |
92 |
6.12 |
4.55 |
4.10 |
148 |
10.25 |
7.54 |
3.60 |
June 30, 2025 |
96 |
11.42 |
8.84 |
4.10 |
153 |
15.76 |
11.41 |
3.60 |
June 30, 2026 |
100 |
16.99 |
13.30 |
4.10 |
159 |
21.55 |
15.42 |
3.60 |
June 30, 2027 |
104 |
22.84 |
17.95 |
4.10 |
164 |
27.63 |
19.57 |
3.60 |
June 30, 2028 |
108 |
28.98 |
22.79 |
4.10 |
170 |
34.01 |
23.88 |
3.60 |
June 30, 2029 |
113 |
35.43 |
27.82 |
4.10 |
177 |
40.71 |
28.34 |
3.60 |
June 30, 2030 |
117 |
42.21 |
33.06 |
4.10 |
183 |
47.75 |
32.96 |
3.60 |
June 30, 2031 |
122 |
49.32 |
38.52 |
4.10 |
122 |
55.13 |
38.41 |
4.10 |
June 30, 2032 |
127 |
56.78 |
44.19 |
4.10 |
127 |
62.89 |
44.08 |
4.10 |
|
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
|
|
$222 |
4.00% |
2.80% |
2.80% |
|
| ||||
|
Class I | |||
Period Ended |
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
June 30, 2023 |
$41 |
5.00% |
4.60% |
4.60% |
June 30, 2024 |
69 |
10.25 |
9.15 |
4.35 |
June 30, 2025 |
72 |
15.76 |
13.90 |
4.35 |
June 30, 2026 |
76 |
21.55 |
18.85 |
4.35 |
June 30, 2027 |
79 |
27.63 |
24.02 |
4.35 |
June 30, 2028 |
82 |
34.01 |
29.42 |
4.35 |
June 30, 2029 |
86 |
40.71 |
35.05 |
4.35 |
June 30, 2030 |
90 |
47.75 |
40.92 |
4.35 |
June 30, 2031 |
94 |
55.13 |
47.05 |
4.35 |
June 30, 2032 |
98 |
62.89 |
53.45 |
4.35 |
| |
1 | |
7 | |
13 | |
18 | |
24 | |
30 | |
36 | |
42 | |
42 | |
43 | |
46 | |
55 | |
55 | |
55 | |
55 | |
57 | |
60 |
60 | |
62 | |
62 | |
64 | |
66 | |
68 | |
68 | |
69 | |
70 | |
73 | |
73 | |
73 | |
75 | |
76 | |
84 | |
98 | |
Back cover |
| |
|
Class R6 |
Management Fees |
|
Distribution (Rule 12b-1) Fees |
|
Other Expenses |
|
Service Fees |
|
Remainder of Other Expenses |
|
Total Annual Fund Operating Expenses |
|
Fee Waivers and/or Expense Reimbursements1 |
- |
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements1 |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
CLASS R6 SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
Past 1 Year |
Past 5 Years |
Past 10 Years |
CLASS R6 SHARES |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
BLOOMBERG U.S. 1-15 YEAR BLEND (1-17) MUNICIPAL BOND INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
|
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Kevin M. Ellis |
2020 |
Managing Director |
Wayne Godlin |
2020 |
Managing Director |
David Sivinski |
2006 |
Executive Director |
For Class R6 Shares |
|
To establish an account |
$5,000,000 for Discretionary Accounts $5,000,000 for Institutional Investors $15,000,000 for Other Investors |
To add to an account |
No minimum levels |
| |
|
Class R6 |
Management Fees |
|
Distribution (Rule 12b-1) Fees |
|
Other Expenses |
|
Service Fees |
|
Remainder of Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
Fee Waivers and/or Expense Reimbursements1 |
- |
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements1 |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
CLASS R6 SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
Past 1 Year |
Past 5 Years |
Past 10 Years |
CLASS R6 SHARES |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
BLOOMBERG U.S. 1-5 YEAR BLEND (1-6) MUNICIPAL BOND INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
|
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
James Ahn |
2006 |
Managing Director |
Kevin M. Ellis |
2006 |
Managing Director |
For Class R6 Shares |
|
To establish an account |
$5,000,000 for Discretionary Accounts $5,000,000 for Institutional Investors $15,000,000 for Other Investors |
To add to an account |
No minimum levels |
| |
|
Class R6 |
Management Fees |
|
Distribution (Rule 12b-1) Fees |
|
Other Expenses |
|
Service Fees |
|
Remainder of Other Expenses |
|
Total Annual Fund Operating Expenses |
|
Fee Waivers and/or Expense Reimbursements1 |
- |
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements1 |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
CLASS R6 SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
Past 1 Year |
Past 5 Years |
Past 10 Years |
CLASS R6 SHARES |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
BLOOMBERG US MUNICIPAL INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
|
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Richard Taormina |
2005 |
Managing Director |
Michelle Hallam |
2014 |
Executive Director |
For Class R6 Shares |
|
To establish an account |
$5,000,000 for Discretionary Accounts $5,000,000 for Institutional Investors $15,000,000 for Other Investors |
To add to an account |
No minimum levels |
ANNUAL FUND OPERATING EXPENSES (Expenses that you pay each year as a percentage of the value of your investment) | |
|
Class R6 |
Management Fees |
0.30% |
Distribution (Rule 12b-1) Fees |
NONE |
Other Expenses |
0.13 |
Service Fees |
NONE |
Remainder of Other Expenses |
0.13 |
Total Annual Fund Operating Expenses |
0.43 |
Fee Waivers and/or Expense Reimbursements1 |
-0.03 |
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements1 |
0.40 |
WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: | ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
CLASS R6 SHARES ($) |
41 |
135 |
238 |
539 |
YEAR-BY-YEAR RETURNS — CLASS R6 SHARES |
Best Quarter |
2nd quarter, 2020 |
2.67% |
Worst Quarter |
4th quarter, 2016 |
-3.39% |
The Fund’s year-to-date total return |
through |
3/31/22 |
was |
-5.87% |
. |
AVERAGE ANNUAL TOTAL RETURNS (For periods ended December 31, 2021) | |||
|
Past 1 Year |
Past 5 Years |
Past 10 Years |
CLASS R6 SHARES |
|
|
|
Return Before Taxes |
-0.02% |
2.96% |
2.70% |
Return After Taxes on Distributions |
-0.03 |
2.95 |
2.66 |
Return After Taxes on Distributions and Sale of Fund Shares |
0.64 |
2.81 |
2.66 |
BLOOMBERG LB CALIFORNIA 1-17 YEAR MUNI INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
0.52 |
3.38 |
3.14 |
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
David Sivinski |
2005 |
Executive Director |
Michelle Hallam |
2004 |
Executive Director |
For Class R6 Shares |
|
To establish an account |
$5,000,000 for Discretionary Accounts $5,000,000 for Institutional Investors $15,000,000 for Other Investors |
To add to an account |
No minimum levels |
ANNUAL FUND OPERATING EXPENSES (Expenses that you pay each year as a percentage of the value of your investment) | |
|
Class R6 |
Management Fees |
0.35% |
Distribution (Rule 12b-1) Fees |
NONE |
Other Expenses |
0.16 |
Service Fees |
NONE |
Remainder of Other Expenses |
0.16 |
Total Annual Fund Operating Expenses |
0.51 |
Fee Waivers and/or Expense Reimbursements1 |
-0.06 |
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements1 |
0.45 |
WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: | ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
CLASS R6 SHARES ($) |
46 |
158 |
279 |
635 |
YEAR-BY-YEAR RETURNS — CLASS R6 SHARES |
Best Quarter |
1st quarter, 2019 |
3.84% |
Worst Quarter |
1st quarter, 2020 |
-6.44% |
The Fund’s year-to-date total return |
through |
3/31/22 |
was |
-7.14% |
. |
AVERAGE ANNUAL TOTAL RETURNS (For periods ended December 31, 2021) | |||
|
Past 1 Year |
Past 5 Years |
Past 10 Years |
CLASS R6 SHARES |
|
|
|
Return Before Taxes |
5.86% |
5.06% |
4.03% |
Return After Taxes on Distributions |
5.84 |
4.96 |
3.82 |
Return After Taxes on Distributions and Sale of Fund Shares |
4.73 |
4.53 |
3.59 |
BLOOMBERG US MUNICIPAL INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
1.52 |
4.17 |
3.72 |
BLOOMBERG HIGH YIELD MUNICIPAL BOND INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
7.77 |
7.53 |
6.72 |
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Wayne Godlin |
2018 |
Managing Director |
Richard Taormina |
2007 |
Managing Director |
Kevin M. Ellis |
2018 |
Managing Director |
For Class R6 Shares |
|
To establish an account |
$5,000,000 for Discretionary Accounts $5,000,000 for Institutional Investors $15,000,000 for Other Investors |
To add to an account |
No minimum levels |
ANNUAL FUND OPERATING EXPENSES (Expenses that you pay each year as a percentage of the value of your investment) | |
|
Class R6 |
Management Fees |
0.30% |
Distribution (Rule 12b-1) Fees |
NONE |
Other Expenses |
0.10 |
Service Fees |
NONE |
Remainder of Other Expenses |
0.10 |
Total Annual Fund Operating Expenses |
0.40 |
Fee Waivers and/or Expense Reimbursements1 |
-0.10 |
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements1 |
0.30 |
WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: | ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
CLASS R6 SHARES ($) |
31 |
118 |
214 |
495 |
YEAR-BY-YEAR RETURNS — CLASS R6 SHARES |
Best Quarter |
2nd quarter, 2020 |
2.79% |
Worst Quarter |
4th quarter, 2016 |
-3.11% |
The Fund’s year-to-date total return |
through |
3/31/22 |
was |
-5.74% |
. |
AVERAGE ANNUAL TOTAL RETURNS (For periods ended December 31, 2021) | |||
|
Past 1 Year |
Past 5 Years |
Past 10 Years |
CLASS R6 SHARES |
|
|
|
Return Before Taxes |
1.16% |
3.39% |
2.68% |
Return After Taxes on Distributions |
0.96 |
3.33 |
2.62 |
Return After Taxes on Distributions and Sale of Fund Shares |
1.80 |
3.18 |
2.65 |
BLOOMBERG U.S. 1-15 YEAR BLEND (1-17) MUNICIPAL BOND INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
0.86 |
3.57 |
3.05 |
Portfolio Managers |
Managed the Fund Since |
Primary Title with Investment Adviser |
Richard Taormina |
2006 |
Managing Director |
David Sivinski |
2005 |
Executive Director |
Kevin M. Ellis |
2014 |
Managing Director |
For Class R6 Shares |
|
To establish an account |
$5,000,000 for Discretionary Accounts $5,000,000 for Institutional Investors $15,000,000 for Other Investors |
To add to an account |
No minimum levels |
ANNUAL FUND OPERATING EXPENSES (Expenses that you pay each year as a percentage of the value of your investment) | |
|
Class R6 |
Management Fees |
0.30% |
Distribution (Rule 12b-1) Fees |
NONE |
Other Expenses |
0.13 |
Service Fees |
NONE |
Remainder of Other Expenses |
0.13 |
Total Annual Fund Operating Expenses |
0.43 |
Fee Waivers and/or Expense Reimbursements1 |
-0.03 |
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements1 |
0.40 |
WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: | ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
CLASS R6 SHARES ($) |
41 |
135 |
238 |
539 |
YEAR-BY-YEAR RETURNS — CLASS R6 SHARES |
Best Quarter |
1st quarter, 2019 |
2.49% |
Worst Quarter |
4th quarter, 2016 |
-2.73% |
The Fund’s year-to-date total return |
through |
3/31/22 |
was |
-5.11% |
. |
AVERAGE ANNUAL TOTAL RETURNS (For periods ended December 31, 2021) | |||
|
Past 1 Year |
Past 5 Years |
Past 10 Years |
CLASS R6 SHARES |
|
|
|
Return Before Taxes |
0.70% |
2.88% |
2.41% |
Return After Taxes on Distributions |
0.68 |
2.88 |
2.34 |
Return After Taxes on Distributions and Sale of Fund Shares |
1.21 |
2.80 |
2.49 |
BLOOMBERG NEW YORK INTERMEDI- ATE (1-17 YEAR) MATURITIES INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
1.17 |
3.32 |
2.90 |
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
David Sivinski |
2005 |
Executive Director |
Kevin M. Ellis |
2005 |
Managing Director |
For Class R6 Shares |
|
To establish an account |
$5,000,000 for Discretionary Accounts $5,000,000 for Institutional Investors $15,000,000 for Other Investors |
To add to an account |
No minimum levels |
FUNDAMENTAL INVESTMENT OBJECTIVES |
An investment objective is fundamental if it cannot be changed without the consent of a majority of the outstanding shares of the Fund. The investment objectives for the Short-Intermediate Municipal Bond Fund, Sustainable Municipal Income Fund and Tax Free Bond Fund are fundamental. The investment objectives for the remaining Funds are non-fundamental and can be changed without the consent of a majority of the outstanding shares of that Fund. |
|
Sustainable Municipal Income Fund |
Short-Intermediate Municipal Bond Fund |
Tax Free Bond Fund |
California Tax Free Bond Fund |
High Yield Municipal Fund |
Intermediate Tax Free Bond Fund |
New York Tax Free Bond Fund |
Alternative Minimum Tax Risk |
• |
• |
• |
• |
• |
• |
• |
Auction Rate Securities Risk |
○ |
• |
○ |
○ |
• |
○ |
○ |
California Geographic Concentration Risk |
|
|
|
• |
|
|
|
Credit Risk |
• |
• |
• |
• |
• |
• |
• |
Debt Securities and Other Callable Securities Risk |
• |
• |
• |
• |
• |
• |
• |
Derivatives Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Exchange-Traded Fund (ETF) and/or Other Investment Company Risk |
○ |
○ |
○ |
○ |
• |
○ |
○ |
Floating and Variable Rate Securities Risk |
○ |
○ |
○ |
○ |
• |
○ |
○ |
General Market Risk |
• |
• |
• |
• |
• |
• |
• |
Government Securities Risk |
○ |
○ |
○ |
• |
• |
• |
• |
High Yield Securities Risk |
• |
• |
• |
• |
• |
• |
• |
Industry and Sector Focus Risk |
• |
• |
• |
• |
• |
• |
• |
Interest Rate Risk |
• |
• |
• |
• |
• |
• |
• |
Inverse Floating Rate Instrument Risk |
○ |
○ |
○ |
○ |
• |
○ |
○ |
Loan Risk |
|
|
|
|
○ |
|
|
Mortgage-Related and Other Asset-Backed Securities Risk |
• |
• |
• |
• |
○ |
• |
• |
Municipal Obligations Risk |
• |
• |
• |
• |
• |
• |
• |
|
Sustainable Municipal Income Fund |
Short-Intermediate Municipal Bond Fund |
Tax Free Bond Fund |
California Tax Free Bond Fund |
High Yield Municipal Fund |
Intermediate Tax Free Bond Fund |
New York Tax Free Bond Fund |
New York Geographic Concentration Risk |
|
|
|
|
|
|
• |
Pay-In-Kind and Deferred Payment Securities Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Restricted Securities Risk |
• |
• |
○ |
○ |
• |
○ |
○ |
Social or Environmental Investing Risk |
• |
|
|
|
|
|
|
Structured Product Risk |
○ |
○ |
○ |
○ |
• |
○ |
○ |
Taxability Risk |
• |
• |
• |
• |
• |
• |
• |
Risk Associated with the Fund Holding Cash, Money Market Instruments and Other Short- Term Investments |
|
• |
• |
|
|
|
|
Transactions and Liquidity Risk |
• |
• |
• |
• |
• |
• |
• |
Cyber Security Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Volcker Rule Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Zero-Coupon Bond Risk |
• |
• |
• |
• |
• |
• |
• |
WHAT IS A DERIVATIVE? |
Derivatives are securities or contracts (for example, futures and options) that derive their value from the performance of underlying assets or securities. |
WHAT IS A CASH EQUIVALENT? |
Cash equivalents are highly liquid, high-quality instruments with maturities of three months or less on the date they are purchased. They include securities issued by the U.S. government, its agencies and instrumentalities, repurchase agreements, certificates of deposit, bankers’ acceptances, commercial paper, money market mutual funds and bank deposit accounts. |
California Tax Free Bond Fund |
0.28% |
High Yield Municipal Fund |
0.31 |
Intermediate Tax Free Bond Fund |
0.24 |
New York Tax Free Bond Fund |
0.28 |
Short-Intermediate Municipal Bond Fund |
0.15 |
Sustainable Municipal Income Fund |
0.23 |
Tax Free Bond Fund |
0.28 |
|
Class R6 |
Eligibility1 |
May be purchased by •Group Retirement Plans,1 •Section 529 college savings plans •J.P. Morgan Funds of Funds (to the extent permitted by a Fund’s investment strategies) •Mutual Funds ETFs and other registered investment companies not affiliated with JPMIM •Investors through a fee-based advisory program of a financial intermediary that has entered into a written agreement with the Distributor to offer such shares through an omnibus account held at the Fund. •Certain discretionary accounts at JPMIM or JPMorgan Chase Bank, N.A. or their affiliates (the Investment Manager) as defined below •Institutional Investors as described below •Other Investors, as described below |
Minimum Investment2 |
$5,000,000 – Discretionary Accounts $5,000,000 – Institutional Investors $15,000,000 – Others Investors. There is no minimum for other Class R6 eligible as investors as described in “Eligibility,” above. |
Minimum Subsequent Investments |
No minimum |
Distribution (12b-1) Fee |
None |
Service Fee |
None |
Redemption Fee |
None |
HOW TO PURCHASE DIRECTLY WITH THE J.P. MORGAN FUNDS | ||
|
Opening a New Account |
Purchasing into an Existing Account |
By Phone or Online 1-800-480-4111 Shareholder Services representatives are available Monday through Friday from 8:00 am to 6:00 pm ET. www.jpmorganfunds.com Note: Certain account types are not available for online account access. Please call for additional information. |
A new account may not be opened by phone or online. A new fund position can be added to an existing account by phone or online if you have bank information on file. The minimum initial investment requirement must be met. |
You must already have bank information on file. If we do not have bank information on file, you must submit written instructions. Please call for instructions on how to add bank information to your account. |
By Mail Regular mailing address: J.P. Morgan Funds Services P.O. Box 219143 Kansas City, MO 64121-9143 Overnight mailing address: J.P. Morgan Funds Services 430 W 7th Street, Suite 219143 Kansas City, MO 64105-1407 |
Mail the completed and signed application with a check to our Regular or Overnight mailing address. Refer to the Additional Information Regarding Purchases section |
Please mail your check and include your name, the Fund name, and your fund account number. |
All checks must be made payable to one of the following: •J.P. Morgan Funds; or •The specific Fund in which you are investing. Please include your existing account number, if applicable. All checks must be in U.S. dollars. The J.P. Morgan Funds do not accept credit cards, cash, starter checks, money orders or credit card checks. The Funds reserve the right to refuse “third-party” checks and checks drawn on non-U.S. financial institutions even if payment may be effected through a U.S. financial institution. Checks made payable to any individual or company and endorsed to J.P. Morgan Funds or a Fund are considered third-party checks. | ||
By Wire1 1-800-480-4111 Wire Instructions: DST Asset Manager Solutions, Inc. 2000 Crown Colony Drive Quincy, MA 02169 Attn: J.P. Morgan Funds Services ABA: 021 000 021 DDA: 323 125 832 FBO: Fund Name Fund: Fund # Account: Your Account # and Your Account Registration |
Purchase by Wire: If you choose to pay by wire, please call to notify the Fund of your purchase. You must also initiate the wire with your financial institution. |
Purchase by Wire: If you choose to pay by wire, please call to notify the Fund of your purchase. You must also initiate the wire with your financial institution. |
EXCHANGE PRIVILEGES |
Class R6 Shares of a Fund may be exchanged for: |
•Class R6 Shares of another J.P. Morgan Fund, |
•Another share class of the same Fund if you are eligible to purchase that class. |
HOW TO REDEEM | |
By Phone or Online |
Call us at 1-800-480-4111 Shareholder Services representatives are available Monday through Friday from 8:00 am to 6:00 pm ET. www.jpmorganfunds.com Note: Certain account types are not available for online account access. Please call for additional information. |
By Mail |
Regular mailing address: J.P. Morgan Funds Services P.O. Box 219143 Kansas City, MO 64121-9143 Overnight mailing address: J.P. Morgan Funds Services 430 W 7th Street, Suite 219143 Kansas City, MO 64105-1407 |
FUND NAME |
FUND CODE |
JPMorgan Sustainable Municipal Income Fund |
1 |
JPMorgan Short-Intermediate Municipal Bond Fund |
2 |
JPMorgan Tax Free Bond Fund |
3 |
JPMorgan California Tax Free Bond Fund |
4 |
JPMorgan High Yield Municipal Fund |
5 |
JPMorgan Intermediate Tax Free Bond Fund |
6 |
JPMorgan New York Tax Free Bond Fund |
7 |
INSTRUMENT |
FUND CODE |
RISK TYPE |
Adjustable Rate Mortgage Loans (ARMs): Loans in a mortgage pool which provide for a fixed initial mortgage interest rate for a specified period of time, after which the rate may be subject to periodic adjustments. |
2, 5 |
Credit Interest Rate Liquidity Market Political Prepayment Valuation |
Asset-Backed Securities: Securities secured by company receivables, home equity loans, truck and auto loans, leases, and credit card receivables or other securities backed by other types of receivables or other assets. |
1–7 |
Credit Interest Rate Liquidity Market Political Prepayment Valuation |
Auction Rate Securities: Auction rate municipal securities and auction rate preferred securities issued by closed-end investment companies. |
1–7 |
Credit Interest Rate Liquidity Market |
Bank Obligations: Bankers’ acceptances, certificates of deposit and time deposits. Bankers’ acceptances are bills of exchange or time drafts drawn on and accepted by a commercial bank. Maturities are generally six months or less. Certificates of deposit are negotiable certificates issued by a bank for a specified period of time and earning a specified return. Time deposits are non-negotiable receipts issued by a bank in exchange for the deposit of funds. |
1–7 |
Credit Currency Interest Rate Liquidity Market Political |
Borrowings: A Fund may borrow for temporary purposes and/or for investment purposes. Such a practice will result in leveraging of the Fund’s assets and may cause a Fund to liquidate portfolio positions when it would not be advantageous to do so. A Fund must maintain continuous asset coverage of 300% of the amount borrowed, with the exception for borrowings not in excess of 5% of the Fund’s total assets made for temporary administrative purposes. |
1–7 |
Credit Interest Rate Market |
Call and Put Options: A call option gives the buyer the right to buy, and obligates the seller of the option to sell a security at a specified price at a future date. A put option gives the buyer the right to sell, and obligates the seller of the option to buy a security at a specified price at a future date. A Fund will sell only covered call and secured put options. |
1–7 |
Credit Leverage Liquidity Management Market |
INSTRUMENT |
FUND CODE |
RISK TYPE |
Commercial Paper: Secured and unsecured short-term promissory notes issued by corporations and other entities. Maturities generally vary from a few days to nine months. |
1–7 |
Credit Currency Interest Rate Liquidity Market Political Valuation |
Common Stock Warrants and Rights: Securities, typically issued with preferred stock or bonds, that give the holder the right to buy a proportionate amount of common stock at a specified price. |
3 |
Credit Market |
Corporate Debt Securities: May include bonds and other debt securities of domestic and foreign issuers, including obligations of industrial, utility, banking and other corporate issuers. |
1–7 |
Credit Currency Interest Rate Liquidity Market Political Prepayment Valuation |
Credit Default Swaps (CDSs): A swap agreement between two parties pursuant to which one party pays the other a fixed periodic coupon for the specified life of the agreement. The other party makes no payment unless a credit event, relating to a predetermined reference asset, occurs. If such an event occurs, the party will then make a payment to the first party, and the swap will terminate. |
1-7 |
Credit Currency Interest Rate Leverage Liquidity Management Market Political Valuation |
Custodial Receipts: A Fund may acquire securities in the form of custodial receipts that evidence ownership of future interest payments, principal payments or both on certain U.S. Treasury notes or bonds in connection with programs sponsored by banks and brokerage firms. These are not considered to be U.S. government securities. These notes and bonds are held in custody by a bank on behalf of the owners of the receipts. |
1-7 |
Credit Liquidity Market |
Demand Features: Securities that are subject to puts and standby commitments to purchase the securities at a fixed price (usually with accrued interest) within a fixed period of time following demand by a Fund. |
1–7 |
Liquidity Management Market |
Exchange-Traded Funds (ETFs): Ownership interest in unit investment trusts, depositary receipts, and other pooled investment vehicles that hold a portfolio of securities or stocks designed to track the price performance and dividend yield of a particular broad-based, sector or international index. ETFs include a wide range of investments. |
1–7 |
Investment Company Market |
Foreign Investments: Equity and debt securities (e.g., bonds and commercial paper) of foreign entities and obligations of foreign branches of U.S. banks and foreign banks. Foreign securities may also include American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs), European Depositary Receipts (EDRs) and American Depositary Securities. |
5 |
Foreign Investment Liquidity Market Political Prepayment Valuation |
INSTRUMENT |
FUND CODE |
RISK TYPE |
High Yield/High Risk Securities/Junk Bonds: Securities that are generally rated below investment grade by the primary rating agencies or are unrated but deemed by a Fund’s adviser to be of comparable quality. |
1-7 |
Credit Currency High Yield Securities Interest Rate Liquidity Market Political Portfolio Quality Valuation |
Inflation-Linked Debt Securities: Includes fixed and floating rate debt securities of varying maturities issued by the U.S. government as well as securities issued by other entities such as corporations, foreign governments and foreign issuers. |
5 |
Credit Currency Interest Rate Political |
Interfund Lending: Involves lending money and borrowing money for temporary purposes through a credit facility. |
1-7 |
Credit Interest Rate Market |
Inverse Floating Rate Instruments: Leveraged variable debt instruments with interest rates that reset in the opposite direction from the market rate of interest to which the inverse floater is indexed. |
1–7 |
Credit Leverage Market |
Investment Company Securities: Shares of other investment companies, including money market funds for which the adviser and/or its affiliates serve as investment adviser or administrator. The adviser will waive certain fees when investing in funds for which it serves as investment adviser, to the extent required by law or by contract. |
1–6 |
Investment Company Market |
Loan Assignments and Participations: Assignments of, or participations in all or a portion of loans to corporations or to governments, including governments in less developed countries. |
1–7 |
Credit Currency Extension Foreign Investment Interest Rate Liquidity Market Political Prepayment |
Master Limited Partnerships: Limited partnerships that are publicly traded on a securities exchange. |
5 |
Market |
Mortgages (Directly Held): Debt instruments secured by real property. |
5 |
Credit Environmental Extension Interest Rate Liquidity Market Natural Event Political Prepayment Valuation |
INSTRUMENT |
FUND CODE |
RISK TYPE |
Mortgage-Backed Securities: Debt obligations secured by real estate loans and pools of loans such as collateralized mortgage obligations (CMOs), commercial mortgage-backed securities (CMBSs) and other asset-backed structures. |
1–7 |
Credit Currency Extension Interest Rate Leverage Liquidity Market Political Prepayment Tax Valuation |
Mortgage Dollar Rolls1 : A transaction in which the Fund sells securities for delivery in a current month and simultaneously contracts with the same party to repurchase similar but not identical securities on a specified future date. |
2, 5 |
Currency Extension Interest Rate Leverage Liquidity Market Political Prepayment |
Municipal Securities: Securities issued by a state or political subdivision to obtain funds for various public purposes. Municipal securities include, among others, private activity bonds and industrial development bonds, as well as general obligation notes, tax anticipation notes, bond anticipation notes, revenue anticipation notes, other short-term tax-exempt obligations, municipal leases, obligations of municipal housing authorities and single family revenue bonds. |
1–7 |
Credit Interest Rate Market Natural Event Political Prepayment Tax Valuation |
New Financial Products: New options and futures contracts and other financial products continue to be developed and the Fund may invest in such options, contracts and products. |
1–7 |
Credit Liquidity Management Market |
Obligations of Supranational Agencies: Obligations which are chartered to promote economic development and are supported by various governments and governmental agencies. |
2 |
Credit Foreign Investment Liquidity Political Valuation |
Options and Futures Transactions: A Fund may purchase and sell (a) exchange traded and over- the-counter put and call options on securities, indexes of securities and futures contracts on securities and indexes of securities, and (b) futures contracts on securities and indexes of securities. |
1–7 |
Credit Leverage Liquidity Management Market |
Preferred Stock: A class of stock that generally pays a dividend at a specified rate and has preference over common stock in the payment of dividends and in liquidation. |
2, 5 |
Market |
Private Placements, Restricted Securities and Other Unregistered Securities: Securities not registered under the Securities Act of 1933, such as privately placed commercial paper and Rule 144A securities. |
1–7 |
Liquidity Market Valuation |
INSTRUMENT |
FUND CODE |
RISK TYPE |
Real Estate Investment Trusts (REITs): Pooled investment vehicles which invest primarily in income producing real estate or real estate related loans or interest. |
5 |
Credit Interest Rate Liquidity Management Market Political Prepayment Tax Valuation |
Repurchase Agreements: The purchase of a security and the simultaneous commitment to return the security to the seller at an agreed upon price on an agreed upon date. This is treated as a loan. |
1–7 |
Credit Liquidity Market |
Reverse Repurchase Agreements1: The sale of a security and the simultaneous commitment to buy the security back at an agreed upon price on an agreed upon date. This is treated as borrowing by a Fund. |
1-2, 5-6 |
Credit Leverage Market |
Securities Issued in Connection with Reorganizations and Corporate Restructurings: In connection with reorganizing or restructuring of an issuer, an issuer may issue common stock or other securities to holders of its debt securities. |
5 |
Market |
Short Selling: A Fund sells a security it does not own in anticipation of a decline in the market value of the security. To complete the transaction, a Fund must borrow the security to make delivery to the buyer. A Fund is obligated to replace the security borrowed by purchasing it subsequently at the market price at the time of replacement. |
5 |
Credit Liquidity Market |
Short-Term Funding Agreements: Agreements issued by banks and highly rated U.S. insurance companies such as Guaranteed Investment Contracts (GICs) and Bank Investment Contracts (BICs). |
1–7 |
Credit Liquidity Market |
Sovereign Obligations: Investments in debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions. |
2, 5 |
Credit Foreign Investment Liquidity Political Valuation |
Stripped Mortgage-Backed Securities: Derivative multi-class mortgage securities which are usually structured with two classes of shares that receive different proportions of the interest and principal from a pool of mortgage assets. These include Interest Only (IO) and Principal Only (PO) securities issued outside a Real Estate Mortgage Investment Conduit (REMIC) or CMO structure. |
1–7 |
Credit Liquidity Market Political Prepayment Valuation |
Structured Investments: A security having a return tied to an underlying index or other security or asset class. Structured investments generally are individually negotiated agreements and may be traded over-the-counter. Structured investments are organized and operated to restructure the investment characteristics of the underlying security. |
1–7 |
Credit Foreign Investment Liquidity Management Market Valuation |
INSTRUMENT |
FUND CODE |
RISK TYPE |
Swaps and Related Swap Products: Swaps involve an exchange of obligations by two parties. Caps and floors entitle a purchaser to a principal amount from the seller of the cap or floor to the extent that a specified index exceeds or falls below a predetermined interest rate or amount. A Fund may enter into these transactions to manage its exposure to changing interest rates and other factors. |
1–7 |
Credit Currency Interest Rate Leverage Liquidity Management Market Political Valuation |
Synthetic Variable Rate Instruments: Instruments that generally involve the deposit of a long- term tax exempt bond in a custody or trust arrangement and the creation of a mechanism to adjust the long-term interest rate on the bond to a variable short-term rate and a right (subject to certain conditions) on the part of the purchaser to tender it periodically to a third party at par. |
1–7 |
Credit Liquidity Market |
Temporary Defensive Positions: To respond to unusual circumstances a Fund may invest in cash and cash equivalents for temporary defensive purposes. |
1–7 |
Credit Interest Rate Liquidity Market |
Treasury Receipts: A Fund may purchase interests in separately traded interest and principal component parts of U.S. Treasury obligations that are issued by banks or brokerage firms and that are created by depositing U.S. Treasury notes and U.S. Treasury bonds into a special account at a custodian bank. Receipts include Treasury Receipts (TRs), Treasury Investment Growth Receipts (TIGRs) and Certificates of Accrual on Treasury Securities (CATS). |
1–7 |
Market |
Trust Preferreds: Securities with characteristics of both subordinated debt and preferred stock. Trust preferreds are generally long term securities that make periodic fixed or variable interest payments. |
5 |
Credit Currency Interest Rate Liquidity Market Political Valuation |
U.S. Government Agency Securities: Securities issued or guaranteed by agencies and instrumentalities of the U.S. government. These include all types of securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), including funding notes, subordinated benchmark notes, CMOs and Real Estate Mortgage Investment Conduits (REMICs). |
1–7 |
Credit Government Securities Interest Rate Market |
U.S. Government Obligations: May include direct obligations of the U.S. Treasury, including Treasury bills, notes and bonds, all of which are backed as to principal and interest payments by the full faith and credit of the United States, and separately traded principal and interest component parts of such obligations that are transferable through the Federal book-entry system known as Separate Trading of Registered Interest and Principal of Securities (STRIPS) and Coupons Under Book Entry Safekeeping (CUBES). |
1–7 |
Interest Rate Market |
Variable and Floating Rate Instruments: Obligations with interest rates which are reset daily, weekly, quarterly or some other frequency and which may be payable to a Fund on demand or at the expiration of a specified term. |
1–7 |
Credit Liquidity Market Valuation |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments: Purchase or contract to purchase securities at a fixed price for delivery at a future date. |
1–7 |
Credit Leverage Liquidity Market Valuation |
INSTRUMENT |
FUND CODE |
RISK TYPE |
Zero-Coupon, Pay-in-Kind and Deferred Payment Securities: Zero-coupon securities are securities that are sold at a discount to par value and on which interest payments are not made during the life of the security. Pay-in-kind securities are securities that have interest payable by delivery of additional securities. Deferred payment securities are zero-coupon debt securities which convert on a specified date to interest bearing debt securities. |
1–7 |
Credit Currency Interest Rate Liquidity Market Political Valuation Zero-Coupon Bond |
|
|
Per share operating performance | |||||
|
|
Investment operations |
Distributions | ||||
|
Net asset value, beginning of period |
Net investment income (loss) (b) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
Net realized gain |
Total distributions |
JPMorgan Sustainable Municipal Income Fund |
|
|
|
|
|
|
|
Class R6 |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
$9.88 |
$0.21 |
$(0.29) |
$(0.08) |
$(0.21) |
$— |
$(0.21) |
Year Ended February 28, 2021 |
9.94 |
0.20 |
(0.06) |
0.14 |
(0.20) |
— |
(0.20) |
Year Ended February 29, 2020 |
9.48 |
0.23 |
0.46 |
0.69 |
(0.23) |
— |
(0.23) |
Year Ended February 28, 2019 |
9.45 |
0.25 |
0.08 |
0.33 |
(0.25) |
(0.05) |
(0.30) |
November 6, 2017 (g) through February 28, 2018 |
9.74 |
0.08 (f) |
(0.21) |
(0.13) |
(0.09) |
(0.07) |
(0.16) |
|
Ratios/Supplemental data | |||||
|
|
|
Ratios to average net assets (a) |
| ||
Net asset value, end of period |
Total return (c)(d) |
Net assets, end of period (000’s) |
Net expenses (e) |
Net investment income (loss) |
Expenses without waivers, reimbursements and earnings credits |
Portfolio turnover rate (c) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$9.59 |
(0.82)% |
$81,399 |
0.35% |
2.14% |
0.46% |
18% |
9.88 |
1.46 |
62,416 |
0.34 |
2.06 |
0.46 |
22 |
9.94 |
7.36 |
60,936 |
0.34 |
2.38 |
0.49 |
7 |
9.48 |
3.54 |
51,261 |
0.35 |
2.61 |
0.50 |
13 |
9.45 |
(1.42) |
64,738 |
0.34 |
2.67 (f) |
0.57 |
21 |
|
|
Per share operating performance | |||
|
|
Investment operations |
Distributions | ||
|
Net asset value, beginning of period |
Net investment income (loss) (b) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
JPMorgan Short-Intermediate Municipal Bond Fund |
|
|
|
|
|
Class R6 |
|
|
|
|
|
Year Ended February 28, 2022 |
$10.83 |
$0.16 |
$(0.31) |
$(0.15) |
$(0.16) |
Year Ended February 28, 2021 |
10.91 |
0.19 |
(0.09) |
0.10 |
(0.18) |
Year Ended February 29, 2020 |
10.54 |
0.21 |
0.38 |
0.59 |
(0.22) |
October 1, 2018 (f) through February 28, 2019 |
10.39 |
0.09 |
0.15 |
0.24 |
(0.09) |
|
Ratios/Supplemental data | |||||
|
|
|
Ratios to average net assets (a) |
| ||
Net asset value, end of period |
Total return (c)(d) |
Net assets, end of period (000’s) |
Net expenses (e) |
Net investment income (loss) |
Expenses without waivers, reimbursements and earnings credits |
Portfolio turnover rate (c) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$10.52 |
(1.37)% |
$632,795 |
0.20% |
1.52% |
0.35% |
21% |
10.83 |
0.92 |
688,820 |
0.19 |
1.72 |
0.35 |
21 |
10.91 |
5.61 |
961,820 |
0.19 |
1.99 |
0.36 |
24 |
10.54 |
2.31 |
866,630 |
0.19 |
2.19 |
0.37 |
42 |
|
|
Per share operating performance | |||
|
|
Investment operations |
Distributions | ||
|
Net asset value, beginning of period |
Net investment income (loss) (b) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
JPMorgan Tax Free Bond Fund |
|
|
|
|
|
Class R6 |
|
|
|
|
|
Year Ended February 28, 2022 |
$12.41 |
$0.30 |
$(0.32) |
$(0.02) |
$(0.30) |
Year Ended February 28, 2021 |
12.60 |
0.31 |
(0.19) |
0.12 |
(0.31) |
Year Ended February 29, 2020 |
11.72 |
0.35 |
0.88 |
1.23 |
(0.35) |
October 1, 2018 (f) through February 28, 2019 |
11.61 |
0.17 |
0.11 |
0.28 |
(0.17) |
|
Ratios/Supplemental data | |||||
|
|
|
Ratios to average net assets (a) |
| ||
Net asset value, end of period |
Total return (c)(d) |
Net assets, end of period (000’s) |
Net expenses (e) |
Net investment income (loss) |
Expenses without waivers, reimbursements and earnings credits |
Portfolio turnover rate (c) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$12.09 |
(0.22)% |
$153,754 |
0.40% |
2.39% |
0.44% |
16% |
12.41 |
1.01 |
134,449 |
0.40 |
2.55 |
0.45 |
23 |
12.60 |
10.63 |
115,414 |
0.40 |
2.87 |
0.47 |
31 |
11.72 |
2.44 |
86,790 |
0.40 |
3.61 |
0.51 |
53 |
|
|
Per share operating performance | |||
|
|
Investment operations |
Distributions | ||
|
Net asset value, beginning of period |
Net investment income (loss) (b) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
JPMorgan California Tax Free Bond Fund |
|
|
|
|
|
Class R6 |
|
|
|
|
|
Year Ended February 28, 2022 |
$10.80 |
$0.18 |
$(0.37) |
$(0.19) |
$(0.18) |
Year Ended February 28, 2021 |
10.99 |
0.19 |
(0.19) |
— (f) |
(0.19) |
Year Ended February 29, 2020 |
10.47 |
0.25 |
0.52 |
0.77 |
(0.25) |
October 1, 2018 (g) through February 28, 2019 |
10.33 |
0.13 |
0.13 |
0.26 |
(0.12) |
|
Ratios/Supplemental data | |||||
|
|
|
Ratios to average net assets (a) |
| ||
Net asset value, end of period |
Total return (c)(d) |
Net assets, end of period (000’s) |
Net expenses (e) |
Net investment income (loss) |
Expenses without waivers, reimbursements and earnings credits |
Portfolio turnover rate (c) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$10.43 |
$(1.80) |
$144,407 |
0.40% |
1.63% |
0.43% |
11% |
10.80 |
0.01 |
137,357 |
0.39 |
1.74 |
0.43 |
6 |
10.99 |
7.48 |
127,070 |
0.40 |
2.35 |
0.46 |
8 |
10.47 |
2.58 |
80,424 |
0.35 |
2.95 |
0.48 |
17 |
|
|
Per share operating performance | |||||
|
|
Investment operations |
Distributions | ||||
|
Net asset value, beginning of period |
Net investment income (loss) (b) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
Net realized gain |
Total distributions |
JPMorgan High Yield Municipal Fund |
|
|
|
|
|
|
|
Class R6 |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
$11.50 |
$0.36 |
$(0.17) |
$0.19 |
$(0.36) |
$— |
$(0.36) |
Year Ended February 28, 2021 |
11.93 |
0.36 |
(0.43) |
(0.07) |
(0.35) |
(0.01) |
(0.36) |
Year Ended February 29, 2020 |
10.87 |
0.35 |
1.06 |
1.41 |
(0.34) |
(0.01) |
(0.35) |
November 1, 2018 (f) through February 28, 2019 |
10.53 |
0.14 |
0.33 |
0.47 |
(0.13) |
— |
(0.13) |
|
Ratios/Supplemental data | |||||
|
|
|
Ratios to average net assets (a) |
| ||
Net asset value, end of period |
Total return (c)(d) |
Net assets, end of period (000’s) |
Net expenses (e) |
Net investment income (loss) |
Expenses without waivers, reimbursements and earnings credits |
Portfolio turnover rate (c) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$11.33 |
1.60% |
$20,316 |
0.45% |
3.07% |
0.51% |
24% |
11.50 |
(0.41) |
21,169 |
0.45 |
3.16 |
0.51 |
39 |
11.93 |
13.12 |
6,060 |
0.44 |
3.01 |
0.56 |
18 |
10.87 |
4.46 |
1,338 |
0.39 |
4.09 |
1.23 |
130 |
|
|
Per share operating performance | |||||
|
|
Investment operations |
Distributions | ||||
|
Net asset value, beginning of period |
Net investment income (loss) (b) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
Net realized gain |
Total distributions |
JPMorgan Intermediate Tax Free Bond Fund |
|
|
|
|
|
|
|
Class R6 |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
$11.15 |
$0.27 |
$(0.37) |
$(0.10) |
$(0.27) |
$(0.09) |
$(0.36) |
Year Ended February 28, 2021 |
11.31 |
0.25 |
(0.16) |
0.09 |
(0.25) |
— |
(0.25) |
Year Ended February 29, 2020 |
10.71 |
0.28 |
0.60 |
0.88 |
(0.28) |
— |
(0.28) |
Year Ended February 28, 2019 |
10.60 |
0.28 |
0.11 |
0.39 |
(0.28) |
— |
(0.28) |
November 6, 2017 (f) through February 28, 2018 |
10.83 |
0.09 |
(0.23) |
(0.14) |
(0.09) |
— |
(0.09) |
|
Ratios/Supplemental data | |||||
|
|
|
Ratios to average net assets (a) |
| ||
Net asset value, end of period |
Total return (c)(d) |
Net assets, end of period (000’s) |
Net expenses (e) |
Net investment income (loss) |
Expenses without waivers, reimbursements and earnings credits |
Portfolio turnover rate (c) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$10.69 |
(0.96)% |
$3,503,954 |
0.30% |
2.41% |
0.40% |
12% |
11.15 |
0.85 |
3,681,554 |
0.29 |
2.27 |
0.40 |
34 |
11.31 |
8.30 |
4,329,545 |
0.30 |
2.52 |
0.39 |
20 |
10.71 |
3.77 |
3,911,573 |
0.29 |
2.66 |
0.40 |
48 |
10.60 |
(1.26) |
3,497,046 |
0.29 |
2.73 |
0.41 |
30 |
|
|
Per share operating performance | |||
|
|
Investment operations |
Distributions | ||
|
Net asset value, beginning of period |
Net investment income (loss) (b) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
JPMorgan New York Tax Free Bond Fund |
|
|
|
|
|
Class R6 |
|
|
|
|
|
Year Ended February 28, 2022 |
$6.96 |
$0.14 |
$(0.22) |
$(0.08) |
$(0.14) |
Year Ended February 28, 2021 |
7.09 |
0.15 |
(0.14) |
0.01 |
(0.14) |
Year Ended February 29, 2020 |
6.75 |
0.16 |
0.34 |
0.50 |
(0.16) |
October 1, 2018 (f) through February 28, 2019 |
6.64 |
0.08 |
0.11 |
0.19 |
(0.08) |
|
Ratios/Supplemental data | |||||
|
|
|
Ratios to average net assets (a) |
| ||
Net asset value, end of period |
Total return (c)(d) |
Net assets, end of period (000’s) |
Net expenses (e) |
Net investment income (loss) |
Expenses without waivers, reimbursements and earnings credits |
Portfolio turnover rate (c) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$6.74 |
(1.20)% |
$127,964 |
0.40% |
1.95% |
0.43% |
10% |
6.96 |
0.22 |
122,625 |
0.39 |
2.11 |
0.43 |
5 |
7.09 |
7.49 |
119,722 |
0.40 |
2.32 |
0.44 |
13 |
6.75 |
2.89 |
91,813 |
0.40 |
2.93 |
0.45 |
21 |
|
|
|
|
|
Class |
Net Expense Ratio |
Gross Expense Ratio |
JPMorgan Sustainable Municipal Income Fund |
R6 |
0.35% |
0.46% |
JPMorgan Short-Intermediate Municipal Bond Fund |
R6 |
0.20% |
0.36% |
JPMorgan Tax Free Bond Fund |
R6 |
0.40% |
0.44% |
JPMorgan Intermediate Tax Free Bond Fund |
R6 |
0.30% |
0.40% |
JPMorgan Sustainable Municipal Income Fund | ||||
|
Class R6 | |||
Period Ended |
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
June 30, 2023 |
$36 |
5.00% |
4.65% |
4.65% |
June 30, 2024 |
49 |
10.25 |
9.40 |
4.54 |
June 30, 2025 |
51 |
15.76 |
14.37 |
4.54 |
June 30, 2026 |
54 |
21.55 |
19.56 |
4.54 |
June 30, 2027 |
56 |
27.63 |
24.99 |
4.54 |
June 30, 2028 |
59 |
34.01 |
30.66 |
4.54 |
June 30, 2029 |
61 |
40.71 |
36.59 |
4.54 |
June 30, 2030 |
64 |
47.75 |
42.80 |
4.54 |
June 30, 2031 |
67 |
55.13 |
49.28 |
4.54 |
June 30, 2032 |
70 |
62.89 |
56.06 |
4.54 |
JPMorgan Short-Intermediate Municipal Bond Fund | ||||
|
Class R6 | |||
Period Ended |
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
June 30, 2023 |
$20 |
5.00% |
4.80% |
4.80% |
June 30, 2024 |
39 |
10.25 |
9.66 |
4.64 |
June 30, 2025 |
40 |
15.76 |
14.75 |
4.64 |
June 30, 2026 |
42 |
21.55 |
20.08 |
4.64 |
June 30, 2027 |
44 |
27.63 |
25.65 |
4.64 |
June 30, 2028 |
46 |
34.01 |
31.48 |
4.64 |
June 30, 2029 |
48 |
40.71 |
37.58 |
4.64 |
June 30, 2030 |
51 |
47.75 |
43.96 |
4.64 |
June 30, 2031 |
53 |
55.13 |
50.64 |
4.64 |
June 30, 2032 |
55 |
62.89 |
57.63 |
4.64 |
JPMorgan Tax Free Bond Fund | ||||
|
Class R6 | |||
Period Ended |
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
June 30, 2023 |
$41 |
5.00% |
4.60% |
4.60% |
June 30, 2024 |
47 |
10.25 |
9.37 |
4.56 |
June 30, 2025 |
49 |
15.76 |
14.36 |
4.56 |
June 30, 2026 |
51 |
21.55 |
19.57 |
4.56 |
June 30, 2027 |
54 |
27.63 |
25.02 |
4.56 |
June 30, 2028 |
56 |
34.01 |
30.73 |
4.56 |
June 30, 2029 |
59 |
40.71 |
36.69 |
4.56 |
June 30, 2030 |
62 |
47.75 |
42.92 |
4.56 |
June 30, 2031 |
64 |
55.13 |
49.44 |
4.56 |
June 30, 2032 |
67 |
62.89 |
56.25 |
4.56 |
JPMorgan Intermediate Tax Free Bond Fund | ||||
|
Class R6 | |||
Period Ended |
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
June 30, 2023 |
$31 |
5.00% |
4.70% |
4.70% |
June 30, 2024 |
43 |
10.25 |
9.52 |
4.60 |
June 30, 2025 |
45 |
15.76 |
14.55 |
4.60 |
June 30, 2026 |
47 |
21.55 |
19.82 |
4.60 |
June 30, 2027 |
49 |
27.63 |
25.34 |
4.60 |
June 30, 2028 |
51 |
34.01 |
31.10 |
4.60 |
June 30, 2029 |
54 |
40.71 |
37.13 |
4.60 |
June 30, 2030 |
56 |
47.75 |
43.44 |
4.60 |
June 30, 2031 |
59 |
55.13 |
50.04 |
4.60 |
June 30, 2032 |
61 |
62.89 |
56.94 |
4.60 |
Fund Name |
A |
C |
I |
R6 |
JPMorgan California Tax Free Bond Fund (the “California Tax Free Bond Fund”) |
JCBAX |
JCBCX |
JPICX |
JCBSX |
JPMorgan High Yield Municipal Fund (the “High Yield Municipal Fund”) |
JTIAX |
JTICX |
JTISX |
JTIRX |
JPMorgan Intermediate Tax Free Bond Fund (the “Intermediate Tax Free Bond Fund”) |
JITAX |
JITCX |
JITIX |
JITZX |
JPMorgan New York Tax Free Bond Fund (the “New York Tax Free Bond Fund”) |
VANTX |
JCNTX |
JNYIX |
VINRX |
Fund Name |
A |
C |
I |
R6 |
JPMorgan Sustainable Municipal Income Fund (the “Sustainable Municipal Income Fund”) |
OTBAX |
OMICX |
HLTAX |
HLTZX |
JPMorgan Short-Intermediate Municipal Bond Fund (the “Short- Intermediate Municipal Bond Fund”) |
OSTAX |
STMCX |
JIMIX |
OSTSX |
JPMorgan Tax Free Bond Fund (the “Tax Free Bond Fund”) |
PMBAX |
JTFCX |
PRBIX |
RUNFX |
Fund Name |
A |
C |
I |
|
JPMorgan Ultra-Short Municipal Fund (the “Ultra-Short Municipal Fund”) |
USMSX |
|
USMTX |
|
1 | |
1 | |
2 | |
2 | |
3 | |
9 | |
14 | |
26 | |
26 | |
26 | |
27 | |
27 | |
28 | |
29 | |
31 | |
31 | |
31 | |
31 | |
32 | |
33 | |
34 | |
34 | |
34 | |
34 | |
34 | |
34 | |
35 | |
35 | |
35 | |
36 | |
36 | |
37 | |
37 | |
37 | |
37 | |
37 | |
38 | |
38 | |
40 | |
40 | |
40 | |
40 | |
40 | |
41 | |
42 |
Former One Group Name |
Current Name |
One Group Short-Term Municipal Bond Fund |
JPMorgan Short-Intermediate Municipal Bond Fund |
One Group Tax-Free Bond Fund |
JPMorgan Tax Free Bond Fund |
One Group Municipal Income Fund |
JPMorgan Sustainable Municipal Income Fund |
|
|
New Name |
Former Name |
JPMorgan California Tax Free Bond Fund |
JPMorgan California Bond Fund |
JPMorgan Intermediate Tax Free Bond Fund |
JPMorgan Intermediate Tax Free Income Fund |
JPMorgan New York Tax Free Bond Fund |
JPMorgan New York Intermediate Tax Free Income Fund |
JPMorgan Short Term Municipal Bond Fund |
One Group Short-Term Municipal Bond Fund |
Fund |
Class A |
Class C |
Class I |
Class R6 |
Sustainable Municipal Income Fund |
X |
X |
X |
X |
Short-Intermediate Municipal Bond Fund |
X |
X |
X |
X |
Tax Free Bond Fund |
X |
X |
X |
X |
Ultra-Short Municipal Fund |
X |
|
X |
|
California Tax Free Bond Fund |
X |
X |
X |
X |
High Yield Municipal Fund |
X |
X |
X |
X |
Intermediate Tax Free Bond Fund |
X |
X |
X |
X |
New York Tax Free Bond Fund |
X |
X |
X |
X |
FUND NAME |
FUND CODE |
Sustainable Municipal Income Fund |
1 |
Short-Intermediate Municipal Bond Fund |
2 |
Tax Free Bond Fund |
3 |
Ultra-Short Municipal Fund |
4 |
California Tax Free Bond Fund |
5 |
High Yield Municipal Fund |
6 |
Intermediate Tax Free Bond Fund |
7 |
New York Tax Free Bond Fund |
8 |
Instrument |
Fund Code |
Part II Section Reference |
Adjustable Rate Mortgage Loans (“ARMs”): Loans in a mortgage pool which provide for a fixed initial mortgage interest rate for a specified period of time, after which the rate may be subject to periodic adjustments. |
2, 6 |
Mortgage-Related Securities |
Asset-Backed Securities: Securities secured by company receivables, home equity loans, truck and auto loans, leases, and credit card receivables or other securities backed by other types of receivables or other assets. |
1-8 |
Asset-Backed Securities |
Auction Rate Securities: Auction rate municipal securities and auction rate preferred securities issued by closed-end investment companies. |
1-8 |
Auction Rate Securities |
Bank Obligations: Bankers’ acceptances, certificates of deposit and time deposits. Bankers’ acceptances are bills of exchange or time drafts drawn on and accepted by a commercial bank. Maturities are generally six months or less. Certificates of deposit are negotiable certificates issued by a bank for a specified period of time and earning a specified return. Time deposits are non-negotiable receipts issued by a bank in exchange for the deposit of funds. |
1-8 |
Bank Obligations |
Borrowings: A Fund may borrow for temporary purposes and/or for investment purposes. Such a practice will result in leveraging of a Fund’s assets and may cause a Fund to liquidate portfolio positions when it would not be advantageous to do so. A Fund must maintain continuous asset coverage of 300% of the amount borrowed, with the exception for borrowings not in excess of 5% of the Fund’s total assets made for temporary administrative purposes. |
1-8 |
Miscellaneous Investment Strategies and Risks |
Instrument |
Fund Code |
Part II Section Reference |
Call and Put Options: A call option gives the buyer the right to buy, and obligates the seller of the option to sell a security at a specified price at a future date. A put option gives the buyer the right to sell, and obligates the seller of the option to buy a security at a specified price at a future date. The Ultra-Short Municipal Fund will sell only covered call and secured put options. |
1-8 |
Options and Futures Transactions |
Commercial Paper: Secured and unsecured short-term promissory notes issued by corporations and other entities. Maturities generally vary from a few days to nine months. |
1-8 |
Commercial Paper |
Common Stock Warrants and Rights: Securities, typically issued with preferred stock or bonds, that give the holder the right to buy a proportionate amount of common stock at a specified price. |
3 |
Equity Securities Warrants and Rights |
Corporate Debt Securities: May include bonds and other debt securities of domestic and foreign issuers, including obligations of industrial, utility, banking and other corporate issuers. |
1-8 |
Debt Instruments |
Credit Default Swap (“CDS”): A swap agreement between two parties pursuant to which one party pays the other a fixed periodic coupon for the specified life of the agreement. The other party makes no payment unless a credit event, relating to a predetermined reference asset, occurs. If such an event occurs, the party will then make a payment to the first party, and the swap will terminate. |
1-3, 5-8 |
Swaps and Related Swap Products |
Custodial Receipts: A Fund may acquire securities in the form of custodial receipts that evidence ownership of future interest payments, principal payments or both on certain U.S. Treasury notes or bonds in connection with programs sponsored by banks and brokerage firms. These are not considered to be U.S. government securities. These notes and bonds are held in custody by a bank on behalf of the owners of the receipts. |
1-3, 5-8 |
Custodial Receipts |
Demand Features: Securities that are subject to puts and standby commitments to purchase the securities at a fixed price (usually with accrued interest) within a fixed period of time following demand by a Fund. |
1-8 |
Demand Features |
Exchange-Traded Funds (“ETFs”): Ownership interest in unit investment trusts, depositary receipts, and other pooled investment vehicles that hold a portfolio of securities or stocks designed to track the price performance and dividend yield of a particular broad based, sector or international index. ETFs include a wide range of investments. |
1-3, 5-8 |
Investment Company Securities and Exchange Traded Funds |
Foreign Investments: Equity and debt securities (e.g., bonds and commercial paper) of foreign entities and obligations of foreign branches of U.S. banks and foreign banks. Foreign securities may also include American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”), European Depositary Receipts (“EDRs”) and American Depositary Securities. |
6 |
Foreign Investments (including Foreign Currencies) |
High Yield/High Risk Securities/Junk Bonds: Securities that are generally rated below investment grade by the primary rating agencies or are unrated but deemed by a Fund’s adviser to be of comparable quality. |
1-8 |
Debt Instruments |
Instrument |
Fund Code |
Part II Section Reference |
Inflation-Linked Debt Securities: Includes fixed and floating rate debt securities of varying maturities issued by the U.S. government as well as securities issued by other entities such as corporations, foreign governments and foreign issuers. |
4, 6 |
Debt Instruments |
Interfund Lending: Involves lending money and borrowing money for temporary purposes through a credit facility. |
1-8 |
Miscellaneous Investment Strategies and Risks |
Inverse Floating Rate Instruments: Leveraged variable debt instruments with interest rates that reset in the opposite direction from the market rate of interest to which the inverse floater is indexed. |
1-8 |
Inverse Floating and Interest Rate Caps |
Investment Company Securities: Shares of other investment companies, including money market funds for which the adviser and/or its affiliates serve as investment adviser or administrator. The adviser will waive certain fees when investing in funds for which it serves as investment adviser, to the extent required by law or by contract. |
1-8 |
Investment Company Securities and Exchange Traded Funds |
Loan Assignments and Participations: Assignments of, or participations in, all or a portion of loans to corporations or to governments, including governments in less developed countries. |
1-3, 5-8 |
Loans |
Master Limited Partnerships(“MLPs”): Limited partnerships that are publicly traded on a securities exchange. |
6 |
Master Limited Partnerships |
Mortgages (Directly Held): Debt instruments secured by real property. |
6 |
Mortgage-Related Securities |
Mortgage-Backed Securities: Debt obligations secured by real estate loans and pools of loans such as collateralized mortgage obligations (“CMOs”), commercial mortgage- backed securities (“CMBSs”) and other asset-backed structures. |
1-8 |
Mortgage-Related Securities |
Mortgage Dollar Rolls: A transaction in which a Fund sells securities for delivery in a current month and simultaneously contracts with the same party to repurchase similar but not identical securities on a specified future date. |
2, 6 |
Mortgage-Related Securities |
Municipal Securities: Securities issued by a state or political subdivision to obtain funds for various public purposes. Municipal securities include, among others, private activity bonds and industrial development bonds, as well as general obligation notes, tax anticipation notes, bond anticipation notes, revenue anticipation notes, other short-term tax- exempt obligations, municipal leases, obligations of municipal housing authorities and single family revenue bonds. |
1-8 |
Municipal Securities |
New Financial Products: New options and futures contracts and other financial products continue to be developed and a Fund may invest in such options, contracts and products. |
1-8 |
Miscellaneous Investment Strategies and Risks |
Obligations of Supranational Agencies: Obligations which are chartered to promote economic development and are supported by various governments and governmental agencies. |
2 |
Foreign Investments (including Foreign Currencies) |
Options and Futures Transactions: A Fund may purchase and sell (a) exchange traded and over the counter put and call options on securities, indexes of securities and futures contracts on securities and indexes of securities, and (b) futures contracts on securities and indexes of securities. |
1-8 |
Options and Futures Transactions |
Instrument |
Fund Code |
Part II Section Reference |
Preferred Stock: A class of stock that generally pays a dividend at a specified rate and has preference over common stock in the payment of dividends and in liquidation. |
2, 6 |
Equity Securities, Warrants and Rights |
Private Placements, Restricted Securities and Other Unregistered Securities: Securities not registered under the Securities Act of 1933 such as privately placed commercial paper and Rule 144A securities. |
1-8 |
Miscellaneous Investment Strategies and Risks |
Real Estate Investment Trusts (“REITs”): Pooled investment vehicles which invest primarily in income producing real estate or real estate related loans or interest. |
6 |
Real Estate Investment Trusts |
Repurchase Agreements: The purchase of a security and the simultaneous commitment to return the security to the seller at an agreed upon price on an agreed upon date. This is treated as a loan. |
1-8 |
Repurchase Agreements |
Reverse Repurchase Agreements: The sale of a security and the simultaneous commitment to buy the security back at an agreed upon price on an agreed upon date. This is treated as borrowing by a Fund. |
1, 4, 6 |
Reverse Repurchase Agreements |
Securities Issued in Connection with Reorganizations and Corporate Restructurings: In connection with reorganizing or restructuring of an issuer, an issuer may issue common stock or other securities to holders of its debt securities. |
6 |
Miscellaneous Investment Strategies and Risks |
Short Selling: The Fund sells a security it does not own in anticipation of a decline in the market value of the security. To complete the transaction, the Fund must borrow the security to make delivery to the buyer. The Fund is obligated to replace the security borrowed by purchasing it subsequently at the market price at the time of replacement. |
6 |
Short Selling |
Short-Term Funding Agreements: Agreements issued by banks and highly rated U.S. insurance companies such as Guaranteed Investment Contracts (“GICs”) and Bank Investment Contracts (“BICs”). |
1-8 |
Short-Term Funding Agreements |
Sovereign Obligations: Investments in debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions. |
2, 6 |
Foreign Investments (including Foreign Currencies) |
Stripped Mortgage-Backed Securities: Derivative multi- class mortgage securities which are usually structured with two classes of shares that receive different proportions of the interest and principal from a pool of mortgage assets. These include Interest Only (“IO”) and Principal Only (“PO”) securities issued outside a Real Estate Mortgage Investment Conduit (“REMIC”) or CMO structure. |
1-3, 5-8 |
Mortgage-Related Securities |
Structured Investments: A security having a return tied to an underlying index or other security or asset class. Structured investments generally are individually negotiated agreements and may be traded over-the-counter. Structured investments are organized and operated to restructure the investment characteristics of the underlying security. |
1-8 |
Structured Investments |
Swaps and Related Swap Products: Swaps involve an exchange of obligations by two parties. Caps and floors entitle a purchaser to a principal amount from the seller of the cap or floor to the extent that a specified index exceeds or falls below a predetermined interest rate or amount. A Fund may enter into these transactions to manage its exposure to changing interest rates and other factors. |
1-8 |
Swaps and Related Swap Products |
Instrument |
Fund Code |
Part II Section Reference |
Synthetic Variable Rate Instruments: Instruments that generally involve the deposit of a long-term tax exempt bond in a custody or trust arrangement and the creation of a mechanism to adjust the long-term interest rate on the bond to a variable short-term rate and a right (subject to certain conditions) on the part of the purchaser to tender it periodically to a third party at par. |
1-8 |
Swaps and Related Swap Products |
Temporary Defensive Positions: To respond to unusual circumstances a Fund may invest in cash and cash equivalents for temporary defensive purposes. |
1-8 |
Miscellaneous Investment Strategies and Risks |
Treasury Receipts: A Fund may purchase interests in separately traded interest and principal component parts of U.S. Treasury obligations that are issued by banks or brokerage firms and that are created by depositing U.S. Treasury notes and U.S. Treasury bonds into a special account at a custodian bank. Receipts include Treasury Receipts (“TRs”), Treasury Investment Growth Receipts (“TIGRs”), and Certificates of Accrual on Treasury Securities (“CATS”). |
1-8 |
Treasury Receipts |
Trust Preferreds: Securities with characteristics of both subordinated debt and preferred stock. Trust preferreds are generally long term securities that make periodic fixed or variable interest payments. |
6 |
Trust Preferreds |
U.S. Government Agency Securities: Securities issued by agencies and instrumentalities of the U.S. government. These include all types of securities issued or guaranteed by the Government National Mortgage Association (“Ginnie Mae”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”), including funding notes, subordinated benchmark notes, CMOs and REMICs. |
1-8 |
Mortgage-Related Securities |
U.S. Government Obligations: May include direct obligations of the U.S. Treasury, including Treasury bills, notes and bonds, all of which are backed as to principal and interest payments by the full faith and credit of the United States, and separately traded principal and interest component parts of such obligations that are transferable through the Federal book-entry system known as Separate Trading of Registered Interest and Principal of Securities (“STRIPS”) and Coupons Under Book Entry Safekeeping (“CUBES”). |
1-8 |
U.S. Government Obligations |
Variable and Floating Rate Instruments: Obligations with interest rates which are reset daily, weekly, quarterly or some other frequency and which may be payable to a Fund on demand or at the expiration of a specified term. |
1-8 |
Debt Instruments |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments: Purchase or contract to purchase securities at a fixed price for delivery at a future date. |
1-8 |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments |
Zero-Coupon, Pay-in-Kind and Deferred Payment Securities: Zero-coupon securities are securities that are sold at a discount to par value and on which interest payments are not made during the life of the security. Pay- in-kind securities are securities that have interest payable by delivery of additional securities. Deferred payment securities are zero-coupon debt securities which convert on a specified date to interest bearing debt securities. |
1-8 |
Debt Instruments |
|
Fiscal Year Ended February 28, | |
Fund |
2021 |
2022 |
California Tax Free Bond Fund |
6% |
11% |
High Yield Municipal Fund |
39% |
24% |
Intermediate Tax Free Bond Fund |
34% |
12% |
New York Tax Free Bond Fund |
5% |
10% |
Short-Intermediate Municipal Bond Fund |
21% |
21% |
Sustainable Municipal Income Fund |
22% |
18% |
Tax Free Bond Fund |
23% |
16% |
Ultra-Short Municipal Fund |
71% |
33% |
Committee |
Fiscal Year Ended February 28, 2022 |
Audit and Valuation Committee |
5 |
Compliance Committee |
7 |
Governance Committee |
6 |
Equity Committee |
6 |
ETF Committee* |
1 |
Fixed Income Committee |
6 |
Money Market and Alternative Products Committee |
9 |
Name of Trustee |
Dollar Range of Equity Securities in California Tax Free Bond Fund |
Dollar Range of Equity Securities in High Yield Municipal Fund |
Dollar Range of Equity Securities in Intermediate Tax Free Bond Fund |
Dollar Range of Equity Securities in New York Tax Free Bond Fund |
Dollar Range of Equity Securities in Short- Intermediate Municipal Bond Fund |
Independent Trustees |
|
|
|
|
|
John F. Finn |
None |
None |
None |
None |
None |
Stephen P. Fisher |
None |
None |
None |
None |
None |
Gary L. French3 |
None |
None |
None |
None |
None |
Kathleen M. Gallagher |
None |
None |
None |
None |
None |
Robert J. Grassi3 |
None |
None |
None |
None |
None |
Frankie D. Hughes |
None |
None |
None |
None |
None |
Raymond Kanner |
None |
None |
None |
None |
None |
Thomas P. Lemke3 |
None |
None |
None |
None |
None |
Lawrence R. Maffia3 |
None |
None |
None |
None |
None |
Mary E. Martinez |
None |
None |
None |
None |
None |
Marilyn McCoy |
None |
None |
None |
None |
None |
Dr. Robert A. Oden, Jr. |
None |
None |
None |
None |
None |
Marian U. Pardo |
None |
None |
None |
None |
None |
Emily A. Youssouf3 |
None |
None |
None |
None |
None |
Interested Trustees |
|
|
|
|
|
Robert Deutsch3 |
None |
None |
None |
None |
None |
Nina O. Shenker3 |
None |
None |
None |
None |
None |
Name of Trustee |
Dollar Range of Equity Securities in Sustainable Municipal Income Fund |
Dollar Range of Equity Securities in Tax Free Bond Fund |
Dollar Range of Equity Securities in Ultra-Short Municipal Fund |
Aggregate Dollar Range of Equity Securities in All Registered Investment Companies Overseen by the Trustee in Family of Investment Companies1,2 |
Independent Trustees |
|
|
|
|
John F. Finn |
None |
None |
None |
Over $100,000 |
Stephen P. Fisher |
None |
None |
None |
Over $100,000 |
Gary L. French3 |
None |
None |
None |
Over $100,000 |
Kathleen M. Gallagher |
None |
None |
None |
Over $100,000 |
Robert J. Grassi3 |
None |
None |
None |
Over $100,000 |
Frankie D. Hughes |
None |
None |
None |
Over $100,000 |
Raymond Kanner |
None |
None |
None |
Over $100,000 |
Thomas P. Lemke3 |
None |
None |
None |
Over $100,000 |
Lawrence R. Maffia3 |
None |
None |
None |
Over $100,000 |
Mary E. Martinez |
None |
None |
None |
Over $100,000 |
Marilyn McCoy |
None |
None |
None |
Over $100,000 |
Dr. Robert A. Oden, Jr. |
None |
None |
None |
Over $100,000 |
Marian U. Pardo |
None |
None |
None |
Over $100,000 |
Emily A. Youssouf3 |
None |
None |
None |
$10,001– $50,000 |
Interested Trustees |
|
|
|
|
Name of Trustee |
Dollar Range of Equity Securities in Sustainable Municipal Income Fund |
Dollar Range of Equity Securities in Tax Free Bond Fund |
Dollar Range of Equity Securities in Ultra-Short Municipal Fund |
Aggregate Dollar Range of Equity Securities in All Registered Investment Companies Overseen by the Trustee in Family of Investment Companies1,2 |
Robert Deutsch3 |
None |
None |
None |
Over $100,000 |
Nina O. Shenker3 |
None |
None |
None |
None |
Name of Trustee |
California Tax Free Bond Fund |
High Yield Municipal Fund |
Intermediate Tax Free Bond Fund |
New York Tax Free Bond Fund |
Short- Intermediate Municipal Bond Fund |
Independent Trustees |
|
|
|
|
|
John F. Finn |
$2,441 |
$2,471 |
$3,949 |
$2,435 |
$2,886 |
Stephen P. Fisher |
2,362 |
2,377 |
3,079 |
2,360 |
2,574 |
Gary L. French3 |
0 |
0 |
0 |
0 |
0 |
Kathleen M. Gallagher |
2,356 |
2,370 |
3,008 |
2,354 |
2,550 |
Robert J. Grassi3 |
0 |
0 |
0 |
0 |
0 |
Dennis P. Harrington5 |
2,346 |
2,357 |
2,901 |
2,344 |
2,509 |
Frankie D. Hughes |
2,340 |
2,350 |
2,830 |
2,338 |
2,485 |
Raymond Kanner |
2,362 |
2,377 |
3,079 |
2,360 |
2,574 |
Thomas P. Lemke3 |
0 |
0 |
0 |
0 |
0 |
Lawrence R. Maffia3 |
0 |
0 |
0 |
0 |
0 |
Mary E. Martinez |
2,395 |
2,417 |
3,434 |
2,392 |
2,703 |
Marilyn McCoy |
2,340 |
2,350 |
2,830 |
2,338 |
2,485 |
Name of Trustee |
California Tax Free Bond Fund |
High Yield Municipal Fund |
Intermediate Tax Free Bond Fund |
New York Tax Free Bond Fund |
Short- Intermediate Municipal Bond Fund |
Mitchell M. Merin7 |
$2,340 |
$2,350 |
$2,830 |
$2,338 |
$2,485 |
Dr. Robert A. Oden, Jr. |
2,362 |
2,377 |
3,079 |
2,360 |
2,574 |
Marian U. Pardo |
2,362 |
2,377 |
3,079 |
2,360 |
2,574 |
Emily A. Youssouf3 |
0 |
0 |
0 |
0 |
0 |
Interested Trustees |
|
|
|
|
|
Robert Deutsch3 |
0 |
0 |
0 |
0 |
0 |
Nina O. Shenker3 |
0 |
0 |
0 |
0 |
0 |
Name of Trustee |
Sustainable Municipal Income Fund |
Tax Free Bond Fund |
Ultra-Short Municipal Fund |
Total Compensation Paid From Fund Complex1 |
Independent Trustees |
|
|
|
|
John F. Finn |
$2,403 |
$2,521 |
$4,418 |
$620,000 |
Stephen P. Fisher |
2,345 |
2,401 |
3,302 |
445,0002 |
Gary L. French3 |
0 |
0 |
0 |
157,500 |
Kathleen M. Gallagher |
2,340 |
2,392 |
3,207 |
432,5004 |
Robert J. Grassi3 |
0 |
0 |
0 |
156,000 |
Dennis P. Harrington5 |
2,332 |
2,375 |
3,078 |
407,500 |
Frankie D. Hughes |
2,328 |
2,366 |
2,983 |
395,000 |
Raymond Kanner |
2,345 |
2,401 |
3,302 |
445,0002 |
Thomas P. Lemke3 |
0 |
0 |
0 |
158,000 |
Lawrence R. Maffia3 |
0 |
0 |
0 |
156,000 |
Mary E. Martinez |
2,369 |
2,452 |
3,770 |
520,000 |
Marilyn McCoy |
2,328 |
2,366 |
2,983 |
395,0006 |
Mitchell M. Merin7 |
2,328 |
2,366 |
2,983 |
395,000 |
Dr. Robert A. Oden, Jr. |
2,345 |
2,401 |
3,302 |
445,000 |
Marian U. Pardo |
2,345 |
2,401 |
3,302 |
445,000 |
Emily A. Youssouf3 |
0 |
0 |
0 |
156,000 |
Interested Trustees |
|
|
|
|
Robert Deutsch3 |
0 |
0 |
0 |
150,000 |
Nina O. Shenker3 |
0 |
0 |
0 |
0 |
|
Fiscal Year Ended | |||||
|
February 29, 2020 |
February 28, 2021 |
February 28, 2022 | |||
Fund |
Paid |
Waived |
Paid |
Waived |
Paid |
Waived |
California Tax Free Bond Fund |
$786 |
$(125) |
$1,095 |
$(104) |
$1,163 |
$(93) |
High Yield Municipal Fund |
899 |
(255) |
1,492 |
(208) |
1,616 |
(192) |
Intermediate Tax Free Bond Fund |
11,946 |
(2,841) |
13,240 |
(3,638) |
11,010 |
(2,820) |
New York Tax Free Bond Fund |
1,108 |
(127) |
1,141 |
(92) |
1,131 |
(86) |
Short-Intermediate Municipal Bond Fund |
2,397 |
(1,580) |
2,510 |
(1,682) |
2,578 |
(1,594) |
Sustainable Municipal Income Fund |
487 |
(208) |
666 |
(217) |
757 |
(212) |
Tax Free Bond Fund |
1,164 |
(205) |
1,508 |
(176) |
1,864 |
(165) |
Ultra-Short Municipal Fund |
— |
(5,036) |
— |
(7,939) |
— |
(8,140) |
|
Non-Performance Based Fee Advisory Accounts | |||||
|
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) | |
Sustainable Municipal Income Fund |
| |||||
Kevin M. Ellis |
6 |
$7,074,474 |
0 |
$0 |
124 |
$3,671,917 |
Wayne Godlin |
1 |
493,002 |
0 |
0 |
0 |
0 |
David Sivinski |
3 |
5,276,592 |
0 |
0 |
9 |
429,507 |
Short-Intermediate Municipal Bond Fund |
|
|
|
|
|
|
James Ahn |
1 |
4,058,059 |
0 |
0 |
23 |
2,677,037 |
Kevin M. Ellis |
6 |
5,833,615 |
0 |
0 |
124 |
3,671,917 |
Tax Free Bond Fund |
| |||||
Richard Taormina |
7 |
12,901,842 |
0 |
0 |
4 |
1,752,741 |
Michelle Hallam |
2 |
487,399 |
0 |
0 |
96 |
3,608,574 |
Ultra-Short Municipal Fund |
|
|
|
|
|
|
Richard Taormina |
7 |
9,514,421 |
0 |
0 |
4 |
1,752,741 |
James Ahn |
1 |
1,554,175 |
0 |
0 |
23 |
2,677,037 |
California Tax Free Bond Fund |
|
|
|
|
|
|
David Sivinski |
3 |
5,203,167 |
0 |
0 |
9 |
429,507 |
Michelle Hallam |
2 |
771,295 |
0 |
0 |
96 |
3,608,574 |
High Yield Municipal Fund |
|
|
|
|
|
|
Wayne Godlin |
1 |
313,316 |
0 |
0 |
0 |
0 |
Richard Taormina |
7 |
13,079,477 |
0 |
0 |
4 |
1,752,741 |
Kevin Ellis |
6 |
6,894,787 |
0 |
0 |
124 |
3,671,917 |
Intermediate Tax Free Bond Fund |
|
|
|
|
|
|
Richard Taormina |
7 |
9,056,231 |
0 |
0 |
4 |
1,752,741 |
David Sivinski |
3 |
1,073,660 |
0 |
0 |
9 |
429,507 |
Kevin M. Ellis |
6 |
2,871,542 |
0 |
0 |
124 |
3,671,917 |
New York Tax Free Bond Fund |
|
|
|
|
|
|
|
Non-Performance Based Fee Advisory Accounts | |||||
|
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) | |
David Sivinski |
3 |
$5,216,304 |
0 |
$0 |
9 |
$429,507 |
Kevin M. Ellis |
6 |
7,014,186 |
0 |
0 |
124 |
3,671,917 |
|
Performance Based Fee Advisory Accounts | |||||
|
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) | |
Sustainable Municipal Income Fund |
| |||||
Kevin M. Ellis |
0 |
$0 |
0 |
$0 |
0 |
$0 |
Wayne Godlin |
0 |
0 |
0 |
0 |
0 |
0 |
David Sivinski |
0 |
0 |
0 |
0 |
0 |
0 |
Short-Intermediate Municipal Bond Fund |
|
|
|
|
|
|
James Ahn |
0 |
0 |
0 |
0 |
0 |
0 |
Kevin M. Ellis |
0 |
0 |
0 |
0 |
0 |
0 |
Tax Free Bond Fund |
|
|
|
|
|
|
Richard Taormina |
0 |
0 |
0 |
0 |
0 |
0 |
Michelle Hallam |
0 |
0 |
0 |
0 |
0 |
0 |
Ultra-Short Municipal Fund |
|
|
|
|
|
|
Richard Taormina |
0 |
0 |
0 |
0 |
0 |
0 |
James Ahn |
0 |
0 |
0 |
0 |
0 |
0 |
California Tax Free Bond Fund |
|
|
|
|
|
|
David Sivinski |
0 |
0 |
0 |
0 |
0 |
0 |
Michelle Hallam |
0 |
0 |
0 |
0 |
0 |
0 |
High Yield Municipal Fund |
|
|
|
|
|
|
Wayne Godlin |
0 |
0 |
0 |
0 |
0 |
0 |
Richard Taormina |
0 |
0 |
0 |
0 |
0 |
0 |
Kevin Ellis |
0 |
0 |
0 |
0 |
0 |
0 |
Intermediate Tax Free Bond Fund |
|
|
|
|
|
|
Richard Taormina |
0 |
0 |
0 |
0 |
0 |
0 |
David Sivinski |
0 |
0 |
0 |
0 |
0 |
0 |
Kevin M. Ellis |
0 |
0 |
0 |
0 |
0 |
0 |
New York Tax Free Bond Fund |
|
|
|
|
|
|
David Sivinski |
0 |
0 |
0 |
0 |
0 |
0 |
Kevin M. Ellis |
0 |
0 |
0 |
0 |
0 |
0 |
|
Dollar Range of Securities in the Fund | ||||||
Fund |
None |
$1-$10,000 |
$ 10,001- $50,000 |
$50,001- $100,000 |
$100,001- $500,000 |
$500,001- $1,000,000 |
Over $1,000,000 |
Sustainable Municipal Income Fund |
|
|
|
|
|
|
|
Kevin M. Ellis |
X |
|
|
|
|
|
|
|
Dollar Range of Securities in the Fund | ||||||
Fund |
None |
$1-$10,000 |
$ 10,001- $50,000 |
$50,001- $100,000 |
$100,001- $500,000 |
$500,001- $1,000,000 |
Over $1,000,000 |
Wayne Godlin |
|
|
|
X |
|
|
|
David Sivinski |
X |
|
|
|
|
|
|
Short-Intermediate Municipal Bond Fund |
|
|
|
|
| ||
James Ahn |
X |
|
|
|
|
|
|
Kevin M. Ellis |
X |
|
|
|
|
|
|
Tax Free Bond Fund |
|
|
|
|
|
|
|
Richard Taormina |
|
|
X |
|
|
|
|
Michelle Hallam |
X |
|
|
|
|
|
|
California Tax Free Bond Fund |
|
|
|
|
|
|
|
David Sivinski |
X |
|
|
|
|
|
|
Michelle Hallam |
X |
|
|
|
|
|
|
Ultra-Short Municipal Fund |
|
|
|
|
|
|
|
Richard Taormina |
|
|
X |
|
|
|
|
James Ahn |
X |
|
|
|
|
|
|
High Yield Municipal Fund |
|
|
|
|
|
|
|
Wayne Godlin |
|
|
|
X |
|
|
|
Richard Taormina |
|
X |
|
|
|
|
|
Kevin M. Ellis |
X |
|
|
|
|
|
|
Intermediate Tax Free Bond Fund |
|
|
|
|
|
|
|
Richard Taormina |
|
X |
|
|
|
|
|
David Sivinski |
X |
|
|
|
|
|
|
Kevin M. Ellis |
|
X |
|
|
|
|
|
New York Tax Free Bond Fund |
|
|
|
|
|
|
|
David Sivinski |
X |
|
|
|
|
|
|
Kevin M. Ellis |
X |
|
|
|
|
|
|
Name of Fund |
Benchmark |
Sustainable Municipal Income Fund |
Bloomberg U.S. 1-15 Year Blend (1-17) Municipal Bond Index |
Short-Intermediate Municipal Bond Fund |
Bloomberg U.S. 1-5 Year Blend (1-6) Municipal Bond Index |
Tax Free Bond Fund |
Bloomberg U.S. Municipal Index |
Ultra-Short Municipal Fund |
Bloomberg 1 Year Municipal Bond Index |
California Tax Free Bond Fund |
Bloomberg LB California 1-17 Year Muni Index |
High Yield Municipal Fund |
Bloomberg US Municipal Index |
Intermediate Tax Free Bond Fund |
Bloomberg U.S. 1-15 Year Blend (1-17) Municipal Bond Index |
New York Tax Free Bond Fund |
Bloomberg New York Competitive Intermediate (1-17 Year) Maturities Index |
|
Fiscal Year Ended | |||||
|
February 29, 2020 |
February 28, 2021 |
February 28, 2022 | |||
Fund |
Paid |
Waived |
Paid |
Waived |
Paid |
Waived |
California Tax Free Bond Fund |
$154 |
$(74) |
$249 |
$(51) |
$259 |
$(55) |
High Yield Municipal Fund |
99 |
(148) |
237 |
(127) |
264 |
(123) |
Intermediate Tax Free Bond Fund |
1,888 |
(1,809) |
1,996 |
(2,224) |
1,644 |
(1,814) |
New York Tax Free Bond Fund |
239 |
(70) |
259 |
(49) |
251 |
(53) |
Short-Intermediate Municipal Bond Fund |
204 |
(989) |
220 |
(1,038) |
232 |
(1,020) |
Sustainable Municipal Income Fund |
44 |
(130) |
87 |
(134) |
105 |
(137) |
Tax Free Bond Fund |
221 |
(121) |
317 |
(104) |
414 |
(93) |
Ultra-Short Municipal Fund |
— |
(2,518) |
— |
(3,970) |
— |
(4,070) |
|
Fiscal Year Ended | ||
Fund |
February 29, 2020 |
February 28, 2021 |
February 28, 2022 |
California Tax Free Bond Fund |
$20 |
$20 |
$20 |
High Yield Municipal Fund |
20 |
20 |
20 |
Intermediate Tax Free Bond Fund |
103 |
147 |
114 |
New York Tax Free Bond Fund |
20 |
20 |
20 |
Short-Intermediate Municipal Bond Fund |
33 |
44 |
41 |
Sustainable Municipal Income Fund |
20 |
20 |
20 |
Tax Free Bond Fund |
20 |
20 |
20 |
Ultra-Short Municipal Fund |
71 |
141 |
132 |
Fund |
Total Underwriting Discounts and Commissions |
Compensation on Redemptions and Repurchases |
Brokerage Commissions |
Other Compensation* |
California Tax Free Bond Fund |
$4,194 |
$25,308 |
$— |
$605,210 |
High Yield Municipal Fund |
12,615 |
31,273 |
— |
726,980 |
Intermediate Tax Free Bond Fund |
34,617 |
108,543 |
— |
982,518 |
New York Tax Free Bond Fund |
4,184 |
33,337 |
42 |
619,747 |
Short-Intermediate Municipal Bond Fund |
15,167 |
16,991 |
— |
261,207 |
Sustainable Municipal Income Fund |
6,771 |
31,853 |
— |
373,966 |
Tax Free Bond Fund |
20,369 |
72,983 |
— |
938,612 |
Ultra-Short Municipal Fund |
— |
3,750 |
— |
250,131 |
Fund |
Fiscal Year Ended 2/29/20 |
Fiscal Year Ended 2/28/21 |
Fiscal Year Ended 2/28/22 |
Sustainable Municipal Income Fund |
$11,751 |
$8,605 |
$6,771 |
Short-Intermediate Municipal Bond Fund |
4,781 |
18,220 |
15,167 |
Tax Free Bond Fund |
25,582 |
21,519 |
20,369 |
Ultra-Short Municipal Fund |
- |
610 |
- |
California Tax Free Bond Fund |
12,628 |
5,263 |
4,194 |
High Yield Municipal Fund |
33,710 |
10,690 |
12,615 |
Intermediate Tax Free Bond Fund |
17,259 |
29,823 |
34,617 |
New York Tax Free Bond Fund |
5,922 |
3,522 |
4,184 |
|
Fiscal Year Ended | |||||
|
February 29, 2020 |
February 28, 2021 |
February 28, 2022 | |||
Fund |
Paid |
Waived |
Paid |
Waived |
Paid |
Waived |
California Tax Free Bond Fund | ||||||
Class A Shares |
$225 |
$— |
$351 |
$— |
$384 |
$— |
Class C Shares |
370 |
— |
317 |
— |
221 |
— |
High Yield Municipal Fund | ||||||
Class A Shares |
268 |
— |
420 |
— |
489 |
— |
Class C Shares |
203 |
— |
262 |
— |
238 |
— |
Intermediate Tax Free Bond Fund | ||||||
Class A Shares |
597 |
— |
648 |
— |
856 |
— |
Class C Shares |
243 |
— |
180 |
— |
126 |
— |
New York Tax Free Bond Fund | ||||||
Class A Shares |
363 |
— |
401 |
— |
405 |
— |
Class C Shares |
468 |
— |
327 |
— |
215 |
— |
Short-Intermediate Municipal Bond Fund | ||||||
Class A Shares |
106 |
— |
168 |
— |
230 |
— |
Class C Shares |
32 |
— |
38 |
— |
31 |
— |
Sustainable Municipal Income Fund | ||||||
Class A Shares |
187 |
— |
283 |
— |
311 |
— |
Class C Shares |
97 |
— |
83 |
— |
63 |
— |
Tax Free Bond Fund | ||||||
Class A Shares |
435 |
— |
638 |
— |
826 |
— |
Class C Shares |
208 |
— |
162 |
— |
113 |
— |
Ultra-Short Municipal Fund | ||||||
Class A Shares |
137 |
— |
382 |
— |
250 |
— |
Class A and Class C |
Up to 0.25% |
Class I |
Up to 0.25% |
Class R6 |
NONE |
|
Fiscal Year Ended | |||||
|
February 29, 2020 |
February 28, 2021 |
February 28, 2022 | |||
Fund |
Paid |
Waived |
Paid |
Waived |
Paid |
Waived |
California Tax Free Bond Fund | ||||||
Class A Shares |
$— |
$(225) |
$— |
$(351) |
$— |
$(384) |
Class C Shares |
— |
(123) |
1 |
(105) |
— |
(74) |
Class I Shares |
72 |
(110) |
80 |
(123) |
88 |
(134) |
High Yield Municipal Fund | ||||||
Class A Shares |
— |
(268) |
— |
(420) |
— |
(489) |
Class C Shares |
— |
(68) |
— |
(87) |
— |
(79) |
Class I Shares |
192 |
(287) |
267 |
(406) |
266 |
(404) |
Intermediate Tax Free Bond Fund | ||||||
Class A Shares |
232 |
(365) |
252 |
(396) |
335 |
(521) |
Class C Shares |
48 |
(33) |
35 |
(25) |
25 |
(17) |
Class I Shares |
592 |
(881) |
709 |
(1,068) |
625 |
(950) |
New York Tax Free Bond Fund | ||||||
Class A Shares |
137 |
(226) |
151 |
(250) |
154 |
(251) |
Class C Shares |
61 |
(95) |
43 |
(66) |
28 |
(44) |
Class I Shares |
98 |
(156) |
86 |
(135) |
83 |
(130) |
Short-Intermediate Municipal Bond Fund | ||||||
Class A Shares |
103 |
(3) |
164 |
(4) |
230 |
—* |
Class C Shares |
11 |
—* |
12 |
(1) |
10 |
—* |
Class I Shares |
304 |
(1,243) |
354 |
(1,436) |
438 |
(1,784) |
Sustainable Municipal Income Fund | ||||||
Class A Shares |
73 |
(114) |
111 |
(172) |
120 |
(191) |
Class C Shares |
17 |
(15) |
16 |
(12) |
13 |
(8) |
Class I Shares |
89 |
(134) |
106 |
(162) |
118 |
(179) |
Tax Free Bond Fund | ||||||
Class A Shares |
26 |
(409) |
40 |
(598) |
57 |
(769) |
Class C Shares |
26 |
(43) |
21 |
(33) |
15 |
(23) |
Class I Shares |
75 |
(315) |
82 |
(337) |
87 |
(359) |
Ultra-Short Municipal Fund | ||||||
Class A Shares |
96 |
(41) |
271 |
(111) |
177 |
(73) |
Class I Shares |
7,278 |
(979) |
11,658 |
(1,191) |
11,904 |
(1,412) |
|
Fiscal Year Ended | ||
Fund |
February 29, 2020 |
February 28, 2021 |
February 28, 2022 |
California Tax Free Bond Fund | |||
Total Brokerage Commissions |
$— |
$— |
$— |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
High Yield Municipal Fund | |||
Total Brokerage Commissions |
— |
— |
— |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
Intermediate Tax Free Bond Fund | |||
Total Brokerage Commissions |
4,979 |
2,365 |
20,173 |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
|
Fiscal Year Ended | ||
Fund |
February 29, 2020 |
February 28, 2021 |
February 28, 2022 |
New York Tax Free Bond Fund | |||
Total Brokerage Commissions |
$— |
$— |
$460 |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
Short-Intermediate Municipal Bond Fund | |||
Total Brokerage Commissions |
— |
— |
— |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
Sustainable Municipal Income Fund | |||
Total Brokerage Commissions |
— |
— |
173 |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
Tax Free Bond Fund | |||
Total Brokerage Commissions |
2,465 |
1,108 |
3,151 |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
Ultra-Short Municipal Fund | |||
Total Brokerage Commissions |
— |
— |
— |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
Fund Name |
Amount |
Sustainable Municipal Income Fund |
$0 |
Short-Intermediate Municipal Bond Fund |
0 |
Tax Free Bond Fund |
0 |
Ultra-Short Municipal Fund |
0 |
California Tax Free Bond Fund |
0 |
High Yield Municipal Fund |
0 |
Intermediate Tax Free Bond Fund |
0 |
New York Tax Free Bond Fund |
0 |
Amount of Purchases |
Finder’s Fees |
$250,000 – $3,999,999* |
0.75% |
$4,000,000 – $9,999,999 |
0.50% |
$10,000,000 or more |
0.25% |
Amount of Purchases |
Finder’s Fees |
$250,000 – $3,999,999* |
0.75% |
$4,000,000 – $49,999,999 |
0.50% |
$50,000,000 or more |
0.25% |
|
Capital Loss Carryforward Character | |
Fund |
Short-Term |
Long-Term |
California Tax Free Bond Fund |
$2,805 |
$227 |
High Yield Municipal Fund |
877 |
— |
New York Tax Free Bond Fund |
2,305 |
145 |
Short-Intermediate Municipal Bond Fund |
10,792 |
154 |
Sustainable Municipal Income Fund |
— |
162 |
Tax Free Bond Fund |
6,486 |
3,884 |
Ultra-Short Municipal Fund |
6,206 |
845 |
All Funds |
|
|
Vickers Stock Research Corp. |
Monthly |
30 days after month end |
MorningStar Inc. |
Monthly |
30 days after month end |
Lipper, Inc. |
Monthly |
30 days after month end |
Bloomberg LP |
Monthly |
30 days after month end |
JPMorgan Chase & Co. |
Monthly |
30 days after month end |
The McGraw-Hill Companies, Inc. — Standard & Poor’s |
Monthly |
30 days after month end |
Factset |
Monthly |
5 days after month end |
All Funds except Ultra-Short Municipal Fund and High Yield Municipal Fund |
|
|
JPMorgan Private Bank |
Monthly |
30 days after month end |
Tax Free Bond Fund |
|
|
ManagersInvest |
Quarterly |
30 days after month end |
Intermediate Tax Free Bond Fund |
|
|
ManagersInvest |
Quarterly |
30 days after month end |
Morgan Stanley Smith Barney |
Quarterly |
30 days after month end |
Ultra-Short Municipal Fund |
|
|
Casey, Quirk & Associates |
Monthly |
30 days after month end |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
JPMORGAN CALIFORNIA TAX FREE BOND FUND | ||
CLASS A SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
50.21% |
|
|
|
|
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3710 |
21.63% |
|
|
|
|
WELLS FARGO CLEARING SERVICES LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET STREET ST LOUIS MO 63103-2523 |
11.18% |
|
|
|
CLASS C SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
72.62% |
|
|
|
|
WELLS FARGO CLEARING SERVICES LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET STREET ST LOUIS MO 63103-2523 |
8.29% |
|
|
|
CLASS I SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
61.19% |
|
|
|
|
TD AMERITRADE INC FOR THE EXCLUSIVE BENEFIT OF OUR CLIENTS PO BOX 2226 OMAHA NE 68103-2226 |
10.05% |
|
|
|
CLASS R6 SHARES |
J. P. MORGAN SECURITIES LLC* 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
92.76% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
|
|
|
|
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3710 |
7.24% |
JPMORGAN HIGH YIELD MUNICIPAL FUND | ||
CLASS A SHARES |
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3710 |
45.47% |
|
|
|
|
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
19.14% |
|
|
|
|
NATIONAL FINANCIAL SERVICES LLC FOR EXCLUSIVE BENEFIT OF OUR CUSTOMERS 499 WASHINGTON BLVD ATTN MUTUAL FUNDS DEPT 4TH FLOOR JERSEY CITY NJ 07310-1995 |
8.66% |
|
|
|
|
WELLS FARGO CLEARING SERVICES LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET STREET ST LOUIS MO 63103-2523 |
6.46% |
|
|
|
CLASS C SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
26.06% |
|
|
|
|
NATIONAL FINANCIAL SERVICES LLC FOR EXCLUSIVE BENEFIT OF OUR CUSTOMERS 499 WASHINGTON BLVD ATTN MUTUAL FUNDS DEPT 4TH FLOOR JERSEY CITY NJ 07310-1995 |
21.15% |
|
|
|
|
WELLS FARGO CLEARING SERVICES LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET STREET ST LOUIS MO 63103-2523 |
14.02% |
|
|
|
|
AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 |
8.44% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
|
|
|
|
RAYMOND JAMES OMNIBUS FOR MUTUAL FUNDS ATTN COURTNEY WALLER 880 CARILLON PKWY ST PETERSBURG FL 33716-1100 |
7.72% |
|
|
|
CLASS I SHARES |
NATIONAL FINANCIAL SERVICES LLC FOR THE EXCLUSIVE BENEFIT OF OUR CUSTOMERS ATTN MUTUAL FUNDS DEPT 4TH FL 499 WASHINGTON BLVD JERSEY CITY NJ 07310-1995 |
26.39% |
|
|
|
|
UBS WM USA OMNI ACCOUNT M/F SPEC CDY A/C EBOC UBSFSI 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 |
23.50% |
|
|
|
|
PERSHING LLC P.O. BOX 2052 JERSEY CITY NJ 07303-2052 |
10.58% |
|
|
|
|
AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 |
7.92% |
|
|
|
|
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
5.53% |
|
|
|
|
CHARLES SCHWAB & CO INC SPECIAL CUSTODY ACCOUNT FOR BENEFIT OF CUSTOMERS ATTN: MUTUAL FUNDS 211 MAIN ST SAN FRANCISCO CA 94105-1901 |
5.21% |
|
|
|
|
RAYMOND JAMES OMNIBUS FOR MUTUAL FUNDS ATTN COURTNEY WALLER 880 CARILLON PKWY ST PETERSBURG FL 33716-1100 |
5.04% |
|
|
|
CLASS R6 SHARES |
JPMIM AS AGENT FOR* THE WW GRAINGER INC GROUP BENEFIT PLAN I ATTN CLIENT SERVICES 1111 POLARIS PKWY OH1-0084 COLUMBUS OH 43240-2031 |
56.32% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
|
|
|
|
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3710 |
43.24% |
JPMORGAN INTERMEDIATE TAX FREE BOND FUND | ||
CLASS A SHARES |
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3710 |
56.35% |
|
|
|
|
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
27.56% |
|
|
|
CLASS C SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
52.41% |
|
|
|
|
MORGAN STANLEY SMITH BARNEY LLC FOR THE EXCLUSIVE BENE OF ITS CUST 1 NEW YORK PLZ FL 12 NEW YORK NY 10004-1932 |
10.87% |
|
|
|
|
NATIONAL FINANCIAL SERVICES LLC FOR EXCLUSIVE BENEFIT OF OUR CUSTOMERS 499 WASHINGTON BLVD ATTN MUTUAL FUNDS DEPT 4TH FLOOR JERSEY CITY NJ 07310-1995 |
6.27% |
|
|
|
|
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3710 |
5.86% |
|
|
|
|
WELLS FARGO CLEARING SERVICES LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET STREET ST LOUIS MO 63103-2523 |
5.54% |
|
|
|
CLASS I SHARES |
NATIONAL FINANCIAL SERVICES LLC FOR THE EXCLUSIVE BENEFIT OF OUR CUSTOMERS ATTN MUTUAL FUNDS DEPT 4TH FL 499 WASHINGTON BLVD JERSEY CITY NJ 07310-1995 |
26.84% |
|
|
|
|
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
24.80% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
|
|
|
|
PERSHING LLC P.O. BOX 2052 JERSEY CITY NJ 07303-2052 |
9.56% |
|
|
|
|
LPL FINANCIAL OMNIBUS CUSTOMER ACCOUNT ATTN MUTUAL FUND TRADING 4707 EXECUTIVE DR SAN DIEGO CA 92121-3091 |
9.03% |
|
|
|
|
CAPINCO C/O US BANK NA PO BOX 1787 MILWAUKEE WI 53201-1787 |
8.17% |
|
|
|
|
MORGAN STANLEY SMITH BARNEY LLC FOR THE EXCLUSIVE BENE OF ITS CUST 1 NEW YORK PLZ FL 12 NEW YORK NY 10004-1932 |
5.78% |
|
|
|
CLASS R6 SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
95.12% |
JPMORGAN NEW YORK TAX FREE BOND FUND | ||
CLASS A SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
76.74% |
|
|
|
CLASS C SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
83.22% |
|
|
|
|
PERSHING LLC P.O. BOX 2052 JERSEY CITY NJ 07303-2052 |
5.55% |
|
|
|
CLASS I SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
44.76% |
|
|
|
|
CHARLES SCHWAB & CO INC SPECIAL CUSTODY ACCOUNT FOR BENEFIT OF CUSTOMERS ATTN MUTUAL FUNDS 211 MAIN ST SAN FRANCISCO CA 94105-1901 |
17.23% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
|
|
|
|
NATIONAL FINANCIAL SERVICES LLC FOR THE EXCLUSIVE BENEFIT OF OUR CUSTOMERS ATTN MUTUAL FUNDS DEPT 4TH FL 499 WASHINGTON BLVD JERSEY CITY NJ 07310-1995 |
16.89% |
|
|
|
CLASS R6 SHARES |
J. P. MORGAN SECURITIES LLC* 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
97.52% |
JPMORGAN SUSTAINABLE MUNICIPAL INCOME FUND | ||
CLASS A SHARES |
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3710 |
47.51% |
|
|
|
|
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
35.79% |
|
|
|
CLASS C SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
59.89% |
|
|
|
|
AMERICAN ENTERPRISE INVESTMENT SVC 707 2ND AVE S MINNEAPOLIS MN 55402-2405 |
10.70% |
|
|
|
|
WELLS FARGO CLEARING SERVICES LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET STREET ST LOUIS MO 63103-2523 |
6.08% |
|
|
|
|
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3710 |
6.01% |
|
|
|
CLASS I SHARES |
NATIONAL FINANCIAL SERVICES LLC FOR EXCLUSIVE BENEFIT OF OUR CUSTOMERS ATTN MUTUAL FUNDS DEPT 4TH FL 499 WASHINGTON BLVD JERSEY CITY NJ 07310-1995 |
34.83% |
|
|
|
|
CHARLES SCHWAB & CO INC SPECIAL CUSTODY ACCOUNT FOR THE BENEFIT OF CUSTOMERS ATTN: MUTUAL FUNDS 211 MAIN ST SAN FRANCISCO CA 94105-1901 |
17.95% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
|
|
|
|
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
17.83% |
|
|
|
|
TD AMERITRADE INC FOR THE EXCLUSIVE BENEFIT OF OUR CLIENTS PO BOX 2226 OMAHA NE 68103-2226 |
8.18% |
|
|
|
|
PERSHING LLC P.O. BOX 2052 JERSEY CITY NJ 07303-2052 |
5.42% |
|
|
|
CLASS R6 SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
91.21% |
|
|
|
|
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3710 |
8.51% |
JPMORGAN SHORT-INTERMEDIATE MUNICIPAL BOND FUND | ||
CLASS A SHARES |
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3710 |
65.37% |
|
|
|
|
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
20.45% |
|
|
|
CLASS C SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
45.08% |
|
|
|
|
WELLS FARGO CLEARING SERVICES LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET STREET ST LOUIS MO 63103-2523 |
17.58% |
|
|
|
|
NATIONAL FINANCIAL SERVICES LLC FOR EXCLUSIVE BENEFIT OF OUR CUSTOMERS 499 WASHINGTON BLVD ATTN MUTUAL FUNDS DEPT 4TH FLOOR JERSEY CITY NJ 07310-1995 |
9.86% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
|
|
|
|
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3710 |
9.64% |
|
|
|
|
UBS WM USA OMNI ACCOUNT M/F SPEC CDY A/C EBOC UBSFSI 1000 HARBOR BLVD WEEHAWKEN NJ 07086-6761 |
5.48% |
|
|
|
CLASS I SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
69.14% |
|
|
|
|
NATIONAL FINANCIAL SERVICES LLC FOR EXCLUSIVE BENEFIT OF OUR CUSTOMERS ATTN MUTUAL FUNDS DEPT 4TH FL 499 WASHINGTON BLVD JERSEY CITY NJ 07310-1995 |
18.51% |
|
|
|
CLASS R6 SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
96.05% |
JPMORGAN TAX FREE BOND FUND | ||
CLASS A SHARES |
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3710 |
55.84% |
|
|
|
|
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
25.58% |
|
|
|
CLASS C SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
63.56% |
|
|
|
|
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3710 |
11.82% |
|
|
|
|
LPL FINANCIAL OMNIBUS CUSTOMER ACCOUNT ATTN MUTUAL FUND TRADING 4707 EXECUTIVE DR SAN DIEGO CA 92121-3091 |
5.04% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
|
|
|
CLASS I SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
33.74% |
|
|
|
|
NATIONAL FINANCIAL SERVICES LLC FOR EXCLUSIVE BENEFIT OF OUR CUSTOMERS ATTN MUTUAL FUNDS DEPT 4TH FL 499 WASHINGTON BLVD JERSEY CITY NJ 07310-1995 |
22.28% |
|
|
|
|
LPL FINANCIAL OMNIBUS CUSTOMER ACCOUNT ATTN MUTUAL FUND TRADING 4707 EXECUTIVE DR SAN DIEGO CA 92121-3091 |
10.92% |
|
|
|
|
THE FULTON COMPANY C/O FULTON FINANCIAL ADVISORS PO BOX 3215 LANCASTER PA 17604-3215 |
9.24% |
|
|
|
CLASS R6 SHARES |
J. P. MORGAN SECURITIES LLC* 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
92.64% |
|
|
|
|
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3710 |
6.19% |
JPMORGAN ULTRA-SHORT MUNICIPAL FUND | ||
CLASS A SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
54.64% |
|
|
|
|
MORGAN STANLEY SMITH BARNEY LLC FOR THE EXCLUSIVE BENE OF ITS CUST 1 NEW YORK PLZ FL 12 NEW YORK NY 10004-1932 |
39.28% |
|
|
|
CLASS I SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
79.16% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
|
|
|
|
NATIONAL FINANCIAL SERVICES LLC FOR THE EXCLUSIVE BENEFIT OF OUR CUSTOMERS ATTN MUTUAL FUNDS DEPT 4TH FL 499 WASHINGTON BLVD JERSEY CITY NJ 07310-1995 |
14.32% |
5 | |
5 | |
7 | |
7 | |
8 | |
8 | |
9 | |
9 | |
9 | |
9 | |
9 | |
10 | |
11 | |
13 | |
13 | |
13 | |
14 | |
14 | |
14 | |
14 | |
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15 | |
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17 | |
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17 | |
18 | |
19 | |
19 | |
23 | |
24 | |
25 | |
25 | |
25 | |
26 | |
27 | |
31 | |
31 | |
32 | |
32 | |
32 | |
33 | |
33 | |
34 | |
34 | |
34 | |
35 | |
35 |
35 | |
36 | |
36 | |
37 | |
37 | |
37 | |
38 | |
38 | |
38 | |
38 | |
38 | |
39 | |
42 | |
42 | |
42 | |
42 | |
43 | |
44 | |
45 | |
47 | |
48 | |
50 | |
51 | |
51 | |
52 | |
52 | |
53 | |
53 | |
54 | |
54 | |
55 | |
55 | |
55 | |
55 | |
56 | |
56 | |
56 | |
56 | |
56 | |
57 | |
57 | |
58 | |
58 | |
59 | |
60 | |
60 | |
61 | |
61 | |
62 | |
62 | |
63 | |
64 |
65 | |
66 | |
67 | |
67 | |
67 | |
68 | |
69 | |
69 | |
69 | |
69 | |
70 | |
71 | |
80 | |
81 | |
81 | |
83 | |
84 | |
86 | |
86 | |
86 | |
87 | |
87 | |
87 | |
87 | |
89 | |
89 | |
91 | |
92 | |
96 | |
96 | |
97 | |
98 | |
99 | |
99 | |
100 | |
100 | |
100 | |
106 | |
110 | |
110 | |
113 | |
113 | |
114 | |
115 | |
116 | |
117 | |
117 | |
123 | |
124 | |
124 | |
124 | |
125 |
128 | |
128 | |
130 | |
130 | |
132 | |
132 | |
132 | |
133 | |
134 | |
134 | |
135 | |
136 | |
137 | |
137 | |
141 | |
141 | |
141 | |
141 | |
143 | |
144 | |
145 | |
145 | |
145 | |
146 | |
148 | |
148 | |
150 | |
159 | |
A-1 | |
B-1 |
Name (Year of Birth; Term of Office, and Length of Time Served)(1) |
Principal Occupation(s) During Past 5 Years |
Number of Funds in Fund Complex Overseen by Trustee(1) |
Other Trusteeships/ Directorships Held During the Past 5 Years |
Independent Trustees |
|
|
|
John F. Finn (1947); Chair since 2020; Trustee, since 1998. |
Chairman, Gardner, Inc. (supply chain management company serving industrial and consumer markets) (serving in various roles 1974–present). |
168 |
Director, Greif, Inc. (GEF) (industrial package products and services) (2007–present); Trustee, Columbus Association for the Performing Arts (1988- present). |
Stephen P. Fisher (1959); Trustee, since 2018. |
Retired; Chairman and Chief Executive Officer, NYLIFE Distributors LLC (registered broker- dealer) (serving in various roles 2008- 2013); Chairman, NYLIM Service Company LLC (transfer agent) (2008- 2017); New York Life Investment Management LLC (registered investment adviser) (serving in various roles 2005- 2017); Chairman, IndexIQ Advisors LLC (registered investment adviser for ETFs) (2014-2017); President, MainStay VP Funds Trust (2007-2017), MainStay DefinedTerm Municipal Opportunities Fund (2011-2017) and Main- Stay Funds Trust (2007-2017) (registered investment companies). |
168 |
Honors Program Advisory Board Member, The Zicklin School of Business, Baruch College, The City University of New York (2017-present). |
Gary L. French (1951); Trustee, since 2014. |
Real Estate Investor (2011-2020); Investment management industry Consultant and Expert Witness (2011-present); Senior Consultant for The Regulatory Fundamentals Group LLC (2011-2017). |
168 |
Independent Trustee, The China Fund, Inc. (2013- 2019); Exchange Traded Concepts Trust II (2012- 2014); Exchange Traded Concepts Trust I (2011- 2014). |
Name (Year of Birth; Term of Office, and Length of Time Served)(1) |
Principal Occupation(s) During Past 5 Years |
Number of Funds in Fund Complex Overseen by Trustee(1) |
Other Trusteeships/ Directorships Held During the Past 5 Years |
Kathleen M. Gallagher (1958); Trustee, since 2018. |
Retired; Chief Investment Officer – Benefit Plans, Ford Motor Company (serving in various roles 1985-2016). |
168 |
Non-Executive Director, Legal & General Investment Management (Holdings) (2018- present); Non-Executive Director, Legal & General Investment Management America (U.S. Holdings) (financial services and insurance) (2017- present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017-present); Member, Client Advisory Council, Financial Engines, LLC (registered investment adviser) (2011-2016); Director, Ford Pension Funds Investment Management Ltd. (2007- 2016). |
Robert J. Grassi (1957); Trustee, since 2014. |
Sole Proprietor, Academy Hills Advisors LLC (2012- present); Pension Director, Corning Incorporated (2002- 2012). |
168 |
None. |
Frankie D. Hughes (1952); Trustee, since 2008. |
President, Ashland Hughes Properties (property management) (2014–present); President and Chief Investment Officer, Hughes Capital Management, Inc. (fixed income asset management) (1993– 2014). |
168 |
None. |
Name (Year of Birth; Term of Office, and Length of Time Served)(1) |
Principal Occupation(s) During Past 5 Years |
Number of Funds in Fund Complex Overseen by Trustee(1) |
Other Trusteeships/ Directorships Held During the Past 5 Years |
Raymond Kanner (1953); Trustee, since 2017. |
Retired; Managing Director and Chief Investment Officer, IBM Retirement Funds (2007–2016). |
168 |
Advisory Board Member, Penso Advisors, LLC (2020- present); Advisory Board Member, Los Angeles Capital (2018-present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017-present); Acting Executive Director, Committee on Investment of Employee Benefit Assets (CIEBA) (2016-2017); Advisory Board Member, Betterment for Business (robo advisor) (2016– 2017); Advisory Board Member, BlueStar Indexes (index creator) (2013–2017); Director, Emerging Markets Growth Fund (registered investment company) (1997-2016); Member, Russell Index Client Advisory Board (2001- 2015). |
Thomas P. Lemke (1954); Trustee, since 2014. |
Retired since 2013. |
168 |
(1) Independent Trustee of Advisors’ Inner Circle III fund platform, consisting of the following: (i) the Advisors’ Inner Circle Fund III, (ii) the Gallery Trust, (iii) the Schroder Series Trust, (iv) the Delaware Wilshire Private Markets Fund (since 2020), (v) Chiron Capital Allocation Fund Ltd., and (vi) formerly the Winton Diversified Opportunities Fund (2014-2018); and (2) Independent Trustee of the Symmetry Panoramic Trust (since 2018). |
Lawrence R. Maffia (1950); Trustee, since 2014. |
Retired; Director and President, ICI Mutual Insurance Company (2006-2013). |
168 |
Director, ICI Mutual Insurance Company (1999-2013). |
Name (Year of Birth; Term of Office, and Length of Time Served)(1) |
Principal Occupation(s) During Past 5 Years |
Number of Funds in Fund Complex Overseen by Trustee(1) |
Other Trusteeships/ Directorships Held During the Past 5 Years |
Mary E. Martinez (1960); Vice Chair since 2021; Trustee, since 2013. |
Associate, Special Properties, a Christie’s International Real Estate Affiliate (2010– present); Managing Director, Bank of America (asset management) (2007– 2008); Chief Operating Officer, U.S. Trust Asset Management, U.S. Trust Company (asset management) (2003–2007); President, Excelsior Funds (registered investment companies) (2004–2005). |
168 |
None. |
Marilyn McCoy (1948); Trustee, since 1999. |
Vice President of Administration and Planning, Northwestern University (1985– present). |
168 |
None. |
Dr. Robert A. Oden, Jr. (1946); Trustee, since 1997. |
Retired; President, Carleton College (2002–2010); President, Kenyon College (1995–2002). |
168 |
Trustee, The Coldwater Conservation Fund; Trustee, American Museum of Fly Fishing (2013–present); Trustee and Vice Chair, Trout Unlimited (2017-2021); Trustee, Dartmouth- Hitchcock Medical Center (2011–2020). |
Marian U. Pardo (1946); Trustee, since 2013. |
Managing Director and Founder, Virtual Capital Management LLC (investment consulting) (2007– present); Managing Director, Credit Suisse Asset Management (portfolio manager) (2003–2006). |
168 |
Board Chair and Member, Board of Governors, Columbus Citizens Foundation (not-for-profit supporting philanthropic and cultural programs) (2006–present). |
Name (Year of Birth; Term of Office, and Length of Time Served)(1) |
Principal Occupation(s) During Past 5 Years |
Number of Funds in Fund Complex Overseen by Trustee(1) |
Other Trusteeships/ Directorships Held During the Past 5 Years |
Emily A. Youssouf (1951); Trustee, since 2014. |
Adjunct Professor (2011-present) and Clinical Professor (2009-2011), NYU Schack Institute of Real Estate; Board Member and Member of the Audit Committee (2013-present), Chair of Finance Committee (2019-present), Member of Related Parties Committee (2013-2018) and Member of the Enterprise Risk Committee (2015- 2018), PennyMac Financial Services, Inc.; Board Member (2005-2018), Chair of Capital Committee (2006-2016), Chair of Audit Committee (2005-2018), Member of Finance Committee (2005-2018) and Chair of IT Committee (2016-2018), NYC Health and Hospitals Corporation. |
168 |
Trustee, NYC School Construction Authority (2009-present); Board Member, NYS Job Development Authority (2008-present); Trustee and Chair of the Audit Committee of the Transit Center Foundation (2015-2019). |
Interested Trustees |
|
|
|
Robert F. Deutsch(3) (1957); Trustee, since 2014. |
Retired; Head of ETF Business for JPMorgan Asset Management (2013-2017); Head of Global Liquidity Business for JPMorgan Asset Management (2003-2013). |
168 |
Treasurer and Director of the JUST Capital Foundation (2017- present). |
Nina O. Shenker(3) (1957); Trustee, since 2022. |
Vice Chair (2017- 2021), General Counsel and Managing Director (2008-2016), Associate General Counsel and Managing Director (2004-2008), J.P. Morgan Asset & Wealth Management. |
168 |
Director and Member of Legal and Human Resources Subcommittees, American Jewish Joint Distribution Committee (2018-present). |
Name of Committee |
Members |
Committee Chair |
Audit and Valuation Committee |
Ms. Gallagher Mr. Finn Mr. French Mr. Kanner |
Ms. Gallagher |
Compliance Committee |
Ms. Pardo Mr. Fisher Ms. Hughes Mr. Lemke |
Ms. Pardo |
Governance Committee |
Mr. Finn Ms. Martinez Ms. McCoy Dr. Oden |
Mr. Finn |
ETF Committee |
Mr. Deutsch Mr. Finn Mr. Grassi Mr. Maffia Ms. Martinez Ms. Shenker Ms. Youssouf |
Mr. Deutsch |
Equity Committee |
Mr. Kanner Mr. French Mr. Maffia Ms. Pardo |
Mr. Kanner |
Fixed Income Committee |
Dr. Oden Mr. Grassi Ms. Hughes Ms. Martinez Ms. Shenker Ms. Youssouf |
Dr. Oden |
Money Market and Alternative Products Committee |
Mr. Fisher Mr. Deutsch Ms. Gallagher Mr. Lemke Ms. McCoy |
Mr. Fisher |
Name (Year of Birth), Positions Held with the Trusts (Since) |
Principal Occupations During Past 5 Years |
Brian S. Shlissel (1964), President and Principal Executive Officer (2016)* |
Managing Director and Chief Administrative Officer for J.P. Morgan pooled vehicles, J.P. Morgan Investment Management Inc. since 2014. |
Timothy J. Clemens (1975), Treasurer and Principal Financial Officer (2018) |
Executive Director, J.P. Morgan Investment Management Inc. since February 2016. Mr. Clemens has been with J.P. Morgan Investment Management Inc. since 2013. |
Gregory S. Samuels (1980), Secretary (2019)** (formerly Assistant Secretary 2010-2019) |
Managing Director and Assistant General Counsel, JPMorgan Chase. Mr. Samuels has been with JPMorgan Chase since 2010. |
Stephen M. Ungerman (1953), Chief Compliance Officer (2005) |
Managing Director, JPMorgan Chase & Co.; Mr. Ungerman has been with JPMorgan Chase & Co. since 2000. |
Kiesha Astwood-Smith (1973), Assistant Secretary (2021)** |
Vice President and Assistant General Counsel, JPMorgan Chase since June 2021; Senior Director and Counsel, Equitable Financial Life Insurance Company (formerly, AXA Equitable Life Insurance Company) from September 2015 through June 2021. |
Matthew Beck (1988), Assistant Secretary (2021)*** |
Vice President and Assistant General Counsel, JPMorgan Chase since May 2021; Senior Legal Counsel, Ultimus Fund Solutions from May 2018 through May 2021; General Counsel, The Nottingham Company from April 2014 through May 2018. |
Name (Year of Birth), Positions Held with the Trusts (Since) |
Principal Occupations During Past 5 Years |
Elizabeth A. Davin (1964), Assistant Secretary (2005)*** |
Executive Director and Assistant General Counsel, JPMorgan Chase. Ms. Davin has been with JPMorgan Chase (formerly Bank One Corporation) since 2004. |
Jessica K. Ditullio (1962), Assistant Secretary (2005)*** |
Executive Director and Assistant General Counsel, JPMorgan Chase. Ms. Ditullio has been with JPMorgan Chase (formerly Bank One Corporation) since 1990. |
Anthony Geron (1971), Assistant Secretary (2018)** |
Vice President and Assistant General Counsel, JPMorgan Chase since September 2018; Lead Director and Counsel, AXA Equitable Life Insurance Company from 2015 to 2018 and Senior Director and Counsel, AXA Equitable Life Insurance Company from 2014 to 2015. |
Carmine Lekstutis (1980), Assistant Secretary (2011)** |
Executive Director and Assistant General Counsel, JPMorgan Chase. Mr. Lekstutis has been with JPMorgan Chase since 2011. |
Max Vogel (1990), Assistant Secretary (2021)** |
Vice President and Assistant General Counsel, JPMorgan Chase since June 2021; Associate, Proskauer Rose LLP (law firm) from March 2017 to June 2021; Associate, Stroock & Stroock & Lavan LLP (law firm) from October 2015 to March 2017. |
Zachary E. Vonnegut-Gabovitch (1986), Assistant Secretary (2017)** |
Vice President and Assistant General Counsel, JPMorgan Chase since September 2016. |
Michael M. D’Ambrosio (1969), Assistant Treasurer (2012) |
Managing Director, J.P. Morgan Investment Management Inc. Mr. D’Ambrosio has been with J.P. Morgan Investment Management Inc. since 2012. |
Aleksandr Fleytekh (1972), Assistant Treasurer (2019) |
Vice President, J.P. Morgan Investment Management Inc. since February 2012. |
Shannon Gaines (1977), Assistant Treasurer (2018)*** |
Vice President, J.P. Morgan Investment Management Inc. since January 2014. |
Jeffrey D. House (1972), Assistant Treasurer (2017)*** |
Vice President, J.P. Morgan Investment Management Inc. since July 2006. |
Michael Mannarino (1985), Assistant Treasurer (2020) |
Vice President, J.P. Morgan Investment Management Inc. since 2014. |
Joseph Parascondola (1963), Assistant Treasurer (2011)* |
Executive Director, J.P. Morgan Investment Management Inc. Mr. Parascondola has been with J.P. Morgan Investment Management Inc. since 2006. |
Gillian I. Sands (1969), Assistant Treasurer (2012) |
Executive Director, J.P. Morgan Investment Management Inc. since September 2012. |
Money Market Funds: |
|
|
Tier One |
First $250 billion |
0.0013% |
Tier Two |
Over $250 billion |
0.0010% |
Complex Assets1 Funds: |
|
|
Tier One |
First $75 billion |
0.00425% |
Tier Two |
Next $25 billion |
0.0040% |
Tier Three |
Over $100 billion |
0.0035% |
Non-Complex Assets Funds: |
|
|
Tier One |
First $75 billion |
0.0025% |
Tier Two |
Next $25 billion |
0.0020% |
Tier Three |
Over $100 billion |
0.0015% |
Other Fees: |
|
|
Fund of Funds (for a Fund of Funds that invests in J.P. Morgan Funds only) |
|
$17,5002 |
Additional Share Classes (this additional class expense applies after the fifth class) |
|
$2,000 |
Daily Market-based Net Asset Value Calculation for Money Market Funds |
|
$15,000 per Fund |
Hourly Net Asset Value Calculation for Money Market Funds |
|
$5,000 per Fund |
Floating NAV Support for Money Market Funds |
|
$100,000 per Fund |
Annual Minimums: (except for certain Funds of Funds which are subject to the fee described above) |
|
Money Market Funds |
$15,000 per Fund |
All Other Funds |
$20,000 per Fund |
Money Market Funds1: |
|
|
Tier One |
First $250 billion |
0.0013% |
Tier Two |
Over $250 billion |
0.0010% |
All Funds except Money Market Funds: |
|
|
Tier One |
Up to $100 billion |
0.00375% |
Tier Two |
$100 billion to $175 billion |
0.0030% |
Tier Three |
Over $175 billion |
0.0020% |
Other Fees: |
|
|
Additional Share Classes (this additional class expense applies after the tenth class) |
|
$2,000 per Class |
Daily Market-based Net Asset Value Calculation for Money Market Funds |
|
$15,000 per Fund |
Hourly Net Asset Value Calculation for Money Market Funds |
|
$5,000 per Fund |
Floating NAV Support for Money Market Funds |
|
$85,000 per Fund |
Annual Minimums: |
|
Money Market Funds |
$15,000 per Fund |
All Other Funds |
$20,000 per Fund |
A-1 |
A short-term obligation rated ‘A-1’ is rated in the highest category by S&P Global Ratings. The obligor’s capacity to meet its financial commitments on the obligation is strong. Within this category, certain obligations are designated with a plus sign (+). This indicates that the obligor’s capacity to meet its financial commitments on these obligations is extremely strong. |
A-2 |
A short-term obligation rated ‘A-2’ is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher rating categories. However, the obligor’s capacity to meet its financial commitments on the obligation is satisfactory. |
A-3 |
A short-term obligation rated ‘A-3’ exhibits adequate protection parameters. However, adverse economic conditions or changing circumstances are more likely to weaken an obligor’s capacity to meet its financial commitments on the obligation. |
B |
A short-term obligation rated ‘B' is regarded as vulnerable and has significant speculative characteristics. The obligor currently has the capacity to meet its financial commitments; however, it faces major ongoing uncertainties that could lead to the obligor's inadequate capacity to meet its financial commitments. |
C |
A short-term obligation rated ‘C’ is currently vulnerable to nonpayment and is dependent upon favorable business, financial, and economic conditions for the obligor to meet its financial commitments on the obligation. |
D |
A short-term obligation rated ‘D’ is in default or in breach of an imputed promise. For non-hybrid capital instruments, the ‘D’ rating category is used when payments on an obligation are not made on the date due, unless S&P Global Ratings believes that such payments will be made within any stated grace period. However, any stated grace period longer than five business days will be treated as five business days. The ‘D’ rating also will be used upon the filing of a bankruptcy petition or the taking of a similar action and where default on an obligation is a virtual certainty, for example due to automatic stay provisions. A rating on an obligation is lowered to ‘D’ if it is subject to a distressed debt restructuring. |
F1 |
HIGHEST SHORT-TERM CREDIT QUALITY. Indicates the strongest intrinsic capacity for timely payment of financial commitments; may have an added “+” to denote any exceptionally strong credit feature. |
F2 |
GOOD SHORT-TERM CREDIT QUALITY. Good intrinsic capacity for timely payment of financial commitments. |
F3 |
FAIR SHORT-TERM CREDIT QUALITY. The intrinsic capacity for timely payment of financial commitments is adequate. |
B |
SPECULATIVE SHORT-TERM CREDIT QUALITY. Minimal capacity for timely payment of financial commitments, plus heightened vulnerability to near term adverse changes in financial and economic conditions. |
C |
HIGH SHORT-TERM DEFAULT RISK. Default is a real possibility. |
RD |
RESTRICTED DEFAULT. Indicates an entity that has defaulted on one or more of its financial commitments, although it continues to meet other financial obligations. Typically applicable to entity ratings only. |
D |
DEFAULT. Indicates a broad-based default event for an entity, or the default of a short- term obligation. |
P-1 |
Ratings of Prime-1 reflect a superior ability to repay short-term debt obligations. |
P-2 |
Ratings of Prime-2 reflect a strong ability to repay short-term debt obligations. |
P-3 |
Ratings of Prime-3 reflect an acceptable ability to repay short-term obligations. |
NP |
Issuers (or supporting institutions) rated Not Prime do not fall within any of the Prime rating categories. |
R-1 (high) |
Highest credit quality. The capacity for the payment of short-term financial obligations as they fall due is exceptionally high. Unlikely to be adversely affected by future events. |
R-1 (middle) |
Superior credit quality. The capacity for the payment of short-term financial obligations as they fall due is very high. Differs from R-1 (high) by a relatively modest degree. Unlikely to be significantly vulnerable to future events. |
R-1 (low) |
Good credit quality. The capacity for the payment of short-term financial obligations as they fall due is substantial. Overall strength is not as favorable as higher rating categories. May be vulnerable to future events, but qualifying negative factors are considered manageable. |
R-2 (high) |
Upper end of adequate credit quality. The capacity for the payment of short-term financial obligations as they fall due is acceptable. May be vulnerable to future events. |
R-2 (middle) |
Adequate credit quality. The capacity for the payment of short-term financial obligations as they fall due is acceptable. May be vulnerable to future events or may be exposed to other factors that could reduce credit quality. |
R-2 (low) |
Lower end of adequate credit quality. The capacity for the payment of short-term financial obligations as they fall due is acceptable. May be vulnerable to future events. A number of challenges are present that could affect the issuer’s ability to meet such obligations. |
R-3 |
Lowest end of adequate credit quality. There is a capacity for the payment of short-term financial obligations as they fall due. May be vulnerable to future events and the certainty of meeting such obligations could be impacted by a variety of developments. |
R-4 |
Speculative credit quality. The capacity for the payment of short-term financial obligations as they fall due is uncertain. |
R-5 |
Highly speculative credit quality. There is a high level of uncertainty as to the capacity to meet short-term financial obligations as they fall due. |
D |
When the issuer has filed under any applicable bankruptcy, insolvency or winding up statute or there is a failure to satisfy an obligation after the exhaustion of grace periods, a downgrade to D may occur. DBRS Morningstar may also use SD (Selective Default) in cases where only some securities are impacted, such as the case of a “distressed exchange.” |
AAA |
An obligation rated ‘AAA’ has the highest rating assigned by S&P Global Ratings. The obligor’s capacity to meet its financial commitments on the obligation is extremely strong. |
AA |
An obligation rated ‘AA’ differs from the highest-rated obligations only to a small degree. The obligor’s capacity to meet its financial commitments on the obligation is very strong. |
A |
An obligation rated ‘A’ is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher-rated categories. However, the obligor’s capacity to meet its financial commitments on the obligation is still strong. |
BBB |
An obligation rated ‘BBB’ exhibits adequate protection parameters. However, adverse economic conditions or changing circumstances are more likely to weaken the obligor’s capacity to meet its financial commitments on the obligation. |
BB,B,CCC,CC and C |
Obligations rated ‘BB’, ‘B’, ‘CCC’, ‘CC’, and ‘C’ are regarded as having significant speculative characteristics. ‘BB’ indicates the least degree of speculation and ‘C’ the highest. While such obligations will likely have some quality and protective characteristics, these may be outweighed by large uncertainties or major exposure to adverse conditions. |
BB |
An obligation rated ‘BB’ is less vulnerable to nonpayment than other speculative issues. However, it faces major ongoing uncertainties or exposure to adverse business, financial, or economic conditions that could lead to the obligor’s inadequate capacity to meet its financial commitments on the obligation. |
B |
An obligation rated ‘B’ is more vulnerable to nonpayment than obligations rated ‘BB’, but the obligor currently has the capacity to meet its financial commitments on the obligation. Adverse business, financial, or economic conditions will likely impair the obligor’s capacity or willingness to meet its financial commitments on the obligation. |
CCC |
An obligation rated ‘CCC’ is currently vulnerable to nonpayment, and is dependent upon favorable business, financial, and economic conditions for the obligor to meet its financial commitments on the obligation. In the event of adverse business, financial, or economic conditions, the obligor is not likely to have the capacity to meet its financial commitments on the obligation. |
CC |
An obligation rated ‘CC’ is currently highly vulnerable to nonpayment. The ‘CC’ rating is used when a default has not yet occurred but S&P Global Ratings expects default to be a virtual certainty, regardless of the anticipated time to default. |
C |
An obligation rated ‘C’ is currently highly vulnerable to nonpayment, and the obligation is expected to have lower relative seniority or lower ultimate recovery compared with obligations that are rated higher. |
D |
An obligation rated ‘D’ is in default or in breach of an imputed promise. For non-hybrid capital instruments, the ‘D’ rating category is used when payments on an obligation are not made on the date due, unless S&P Global Ratings believes that such payments will be made within five business days in the absence of a stated grace period or within the earlier of the stated grace period or 30 calendar days. The ‘D’ rating also will be used upon the filing of a bankruptcy petition or the taking of similar action and where default on an obligation is a virtual certainty, for example due to automatic stay provisions. A rating on an obligation is lowered to ‘D’ if it is subject to a distressed debt restructuring. |
AAA |
HIGHEST CREDIT QUALITY. ‘AAA’ ratings denote the lowest expectation of default risk. They are assigned only in cases of exceptionally strong capacity for payment of financial commitments. This capacity is highly unlikely to be adversely affected by foreseeable events. |
AA |
VERY HIGH CREDIT QUALITY. ‘AA’ ratings denote expectations of very low default risk. They indicate very strong capacity for payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events. |
A |
HIGH CREDIT QUALITY. ‘A’ ratings denote expectations of low default risk. The capacity for payment of financial commitments is considered strong. This capacity may, nevertheless, be more vulnerable to adverse business or economic conditions than is the case for higher ratings. |
BBB |
GOOD CREDIT QUALITY. ‘BBB’ ratings indicate that expectations of default risk are currently low. The capacity for payment of financial commitments is considered adequate, but adverse business or economic conditions are more likely to impair this capacity. |
BB |
SPECULATIVE. ‘BB’ ratings indicate an elevated vulnerability to default risk, particularly in the event of adverse changes in business or economic conditions over time; however, business or financial flexibility exists that supports the servicing of financial commitments. |
B |
HIGHLY SPECULATIVE. ‘B’ ratings indicate that material default risk is present, but a limited margin of safety remains. Financial commitments are currently being met; however, capacity for continued payment is vulnerable to deterioration in the business and economic environment. |
CCC |
SUBSTANTIAL CREDIT RISK. Default is a real possibility. |
CC |
VERY HIGH LEVELS OF CREDIT RISK. Default of some kind appears probable. |
C |
NEAR DEFAULT. A default or default-like process has begun, or the issuer is in standstill, or for a closed funding vehicle, payment capacity is irrevocably impaired. Conditions that are indicative of a ‘C’ category rating for an issuer include: |
|
•the issuer has entered into a grace or cure period following non-payment of a material financial obligation; •the issuer has entered into a temporary negotiated waiver or standstill agreement following a payment default on a material financial obligation; •the formal announcement by the issuer or their agent of a distressed debt exchange; •a closed financing vehicle where payment capacity is irrevocably impaired such that it is not expected to pay interest and/or principal in full during the life of the transaction, but where no payment default is imminent. |
RD |
RESTRICTED DEFAULT. ‘RD’ ratings indicate an issuer that in Fitch’s opinion has experienced: |
|
•an uncured payment default or distressed debt exchange on a bond, loan or other material financial obligation, but •has not entered into bankruptcy filings, administration, receivership, liquidation or other formal winding-up procedure, and •has not otherwise ceased operating. This would include: •the selective payment default on a specific class or currency of debt; •the uncured expiry of any applicable grace period, cure period or default forbearance period following a payment default on a bank loan, capital markets security or other material financial obligation; •the extension of multiple waivers or forbearance periods upon a payment default on one or more material financial obligations, either in series or in parallel; ordinary execution of a distressed debt exchange on one or more material financial obligations. |
D |
DEFAULT. ‘D’ ratings indicate an issuer that in Fitch Ratings’ opinion has entered into bankruptcy filings, administration, receivership, liquidation or other formal winding-up procedure or that has otherwise ceased business. |
Aaa |
Obligations rated Aaa are judged to be of the highest quality, with minimal risk. |
Aa |
Obligations rated Aa are judged to be of high quality and are subject to very low credit risk. |
A |
Obligations rated A are judged to be upper-medium-grade and are subject to low credit risk. |
Baa |
Obligations rated Baa are subject to moderate credit risk. They are considered medium- grade and as such may possess certain speculative characteristics. |
Ba |
Obligations rated Ba are judged to have speculative elements and are subject to substantial credit risk. |
B |
Obligations rated B are considered speculative and are subject to high credit risk. |
Caa |
Obligations rated Caa are judged to be of poor standing and are subject to very high credit risk. |
Ca |
Obligations rated Ca are highly speculative and are likely in, or very near, default, with some prospect of recovery in principal and interest. |
C |
Obligations rated C are the lowest-rated class of bonds and are typically in default, with little prospect for recovery of principal or interest. |
AAA |
Highest credit quality. The capacity for the payment of financial obligations is exceptionally high and unlikely to be adversely affected by future events. |
AA |
Superior credit quality. The capacity for the payment of financial obligations is considered high. Credit quality differs from AAA only to a small degree. Unlikely to be significantly vulnerable to future events. |
A |
Good credit quality. The capacity for the payment of financial obligations is substantial, but of lesser credit quality than AA. May be vulnerable to future events, but qualifying negative factors are considered manageable. |
BBB |
Adequate credit quality. The capacity for the payment of financial obligations is considered acceptable. May be vulnerable to future events. |
BB |
Speculative, non-investment grade credit quality. The capacity for the payment of financial obligations is uncertain. Vulnerable to future events. |
B |
Highly speculative credit quality. There is a high level of uncertainty as to the capacity to meet financial obligations. |
CCC/CC/C |
Very highly speculative credit quality. In danger of defaulting on financial obligations. There is little difference between these three categories, although CC and C ratings are normally applied to obligations that are seen as highly likely to default, or subordinated to obligations rated in the CCC to B range. Obligations in respect of which default has not technically taken place but is considered inevitable may be rated in the C category. |
D |
When the issuer has filed under any applicable bankruptcy, insolvency or winding up statute or there is a failure to satisfy an obligation after the exhaustion of grace periods, a downgrade to D may occur. DBRS Morningstar may also use SD (Selective Default) in cases where only some securities are impacted, such as the case of a “distressed exchange.” |
AAA |
An insurer rated ‘AAA’ has extremely strong financial security characteristics. ‘AAA’ is the highest insurer financial strength rating assigned by S&P Global Ratings. |
AA |
An insurer rated ‘AA’ has very strong financial security characteristics, differing only slightly from those rated higher. |
A |
An insurer rated ‘A’ has strong financial security characteristics, but is somewhat more likely to be affected by adverse business conditions than are insurers with higher ratings. |
BBB |
An insurer rated ‘BBB’ has good financial security characteristics, but is more likely to be affected by adverse business conditions than are higher-rated insurers. |
BB, B, CCC, and CC |
An insurer rated ‘BB’ or lower is regarded as having vulnerable characteristics that may outweigh its strengths, ‘BB’ indicates the least degree of vulnerability within the range and ‘CC’ the highest. |
BB |
An insurer rated ‘BB’ has marginal financial security characteristics. Positive attributes exist, but adverse business conditions could lead to insufficient ability to meet financial commitments. |
B |
An insurer rated ‘B’ has weak financial security characteristics. Adverse business conditions will likely impair its ability to meet financial commitments. |
CCC |
An insurer rated ‘CCC’ has very weak financial security characteristics, and is dependent on favorable business conditions to meet financial commitments. |
CC |
An insurer rated ‘CC’ has extremely weak financial security characteristics and is likely not to meet some of its financial commitments. |
SD and D |
An insurer rated ‘SD’ (selective default) or ‘D’ is in default on one or more of its insurance policy obligations. The ‘D’ rating also will be used upon the filing of a bankruptcy petition or the taking of similar action if payments on a policy obligation are at risk. A ‘D’ rating is assigned when S&P Global Ratings believes that the default will be a general default and that the obligor will fail to pay substantially all of its obligations in full in accordance with the policy terms. An ‘SD’ rating is assigned when S&P Global Ratings believes that the insurer has selectively defaulted on a specific class of policies but it will continue to meet its payment obligations on other classes of obligations. An ‘SD’ includes the completion of a distressed debt restructuring. Claim denials due to lack of coverage or other legally permitted defenses are not considered defaults. |
AAA |
EXCEPTIONALLY STRONG. ‘AAA’ IFS Ratings denote the lowest expectation of ceased or interrupted payments. They are assigned only in the case of exceptionally strong capacity to meet policyholder and contract obligations. This capacity is highly unlikely to be adversely affected by foreseeable events. |
AA |
VERY STRONG. ‘AA’ IFS Ratings denote a very low expectation of ceased or interrupted payments. They indicate very strong capacity to meet policyholder and contract obligations. This capacity is not significantly vulnerable to foreseeable events. |
A |
STRONG. ‘A’ IFS Ratings denote a low expectation of ceased or interrupted payments. They indicate strong capacity to meet policyholder and contract obligations. This capacity may, nonetheless, be more vulnerable to changes in circumstances or in economic conditions than is the case for higher ratings. |
BBB |
GOOD. ‘BBB’ IFS Ratings indicate that there is currently a low expectation of ceased or interrupted payments. The capacity to meet policyholder and contract obligations on a timely basis is considered adequate, but adverse changes in circumstances and economic conditions are more likely to impact this capacity. |
BB |
MODERATELY WEAK. ‘BB’ IFS Ratings indicate that there is an elevated vulnerability to ceased or interrupted payments, particularly as the result of adverse economic or market changes over time. However, business or financial alternatives may be available to allow for policyholder and contract obligations to be met in a timely manner. |
B |
WEAK. ‘B’ IFS Ratings indicate two possible conditions. If obligations are still being met on a timely basis, there is significant risk that ceased or interrupted payments could occur in the future, but a limited margin of safety remains. Capacity for continued timely payments is contingent upon a sustained, favorable business and economic environment, and favorable market conditions. Alternatively, a ‘B’ IFS Rating is assigned to obligations that have experienced ceased or interrupted payments, but with the potential for extremely high recoveries. Such obligations would possess a recovery assessment of ‘RR1’ (Outstanding). |
CCC |
VERY WEAK. ‘CCC’ IFS Ratings indicate two possible conditions. If obligations are still being met on a timely basis, there is a real possibility that ceased or interrupted payments could occur in the future. Capacity for continued timely payments is solely reliant upon a sustained, favorable business and economic environment, and favorable market conditions. Alternatively, a ‘CCC’ IFS Rating is assigned to obligations that have experienced ceased or interrupted payments, and with the potential for average to superior recoveries. Such obligations would possess a recovery assessment of ‘RR2’ (Superior), ‘RR3’ (Good), and ‘RR4’ (Average). |
CC |
EXTREMELY WEAK. ‘CC’ IFS Ratings indicate two possible conditions. If obligations are still being met on a timely basis, it is probable that ceased or interrupted payments will occur in the future. Alternatively, a ‘CC’ IFS Rating is assigned to obligations that have experienced ceased or interrupted payments, with the potential for average to below-average recoveries. Such obligations would possess a recovery assessment of ‘RR4’ (Average) or ‘RR5’ (Below Average). |
C |
DISTRESSED. ‘C’ IFS Ratings indicate two possible conditions. If obligations are still being met on a timely basis, ceased or interrupted payments are imminent. Alternatively, a ‘C’ IFS Rating is assigned to obligations that have experienced ceased or interrupted payments, and with the potential for below average to poor recoveries. Such obligations would possess a recovery assessment of ‘RR5’ (Below Average) or ‘RR6’ (Poor). |
F1 |
Insurers are viewed as having a strong capacity to meet their near-term obligations. When an insurer rated in this rating category is designated with a (+) sign, it is viewed as having a very strong capacity to meet near-term obligations. |
F2 |
Insurers are viewed as having a good capacity to meet their near-term obligations. |
F3 |
Insurers are viewed as having an adequate capacity to meet their near-term obligations. |
B |
Insurers are viewed as having a weak capacity to meet their near-term obligations. |
C |
Insurers are viewed as having a very weak capacity to meet their near-term obligations. |
RR1 |
OUTSTANDING RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR1’ rated securities have characteristics consistent with securities historically recovering 91%–100% of current principal and related interest. |
RR2 |
SUPERIOR RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR2’ rated securities have characteristics consistent with securities historically recovering 71%–90% of current principal and related interest. |
RR3 |
GOOD RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR3’ rated securities have characteristics consistent with securities historically recovering 51%–70% of current principal and related interest. |
RR4 |
AVERAGE RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR4’ rated securities have characteristics consistent with securities historically recovering 31%–50% of current principal and related interest. |
RR5 |
BELOW AVERAGE RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR5’ rated securities have characteristics consistent with securities historically recovering 11%– 30% of current principal and related interest. |
RR6 |
POOR RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR6’ rated securities have characteristics consistent with securities historically recovering 0%–10% of current principal and related interest. |
Aaa |
Insurance companies rated Aaa are judged to be of the highest quality, subject to the lowest level of credit risk. |
Aa |
Insurance companies rated Aa are judged to be of high quality and are subject to very low credit risk. |
A |
Insurance companies rated A are judged to be upper-medium grade and are subject to low credit risk. |
Baa |
Insurance companies rated Baa are judged to be medium-grade and subject to moderate credit risk and as such may possess certain speculative characteristics. |
Ba |
Insurance companies rated Ba are judged to be speculative and are subject to substantial credit risk. |
B |
Insurance companies rated B are considered speculative and are subject to high credit risk. |
Caa |
Insurance companies rated Caa are judged to be speculative of poor standing and are subject to very high credit risk. |
Ca |
Insurance companies rated Ca are highly speculative and are likely in, or very near, default, with some prospect of recovery of principal and interest. |
C |
Insurance companies rated C are the lowest rated and are typically in default, with little prospect for recovery of principal or interest. |
P-1 |
Ratings of Prime-1 reflect a superior ability to repay short-term debt obligations. |
P-2 |
Ratings of Prime-2 reflect a strong ability to repay short-term debt obligations. |
P-3 |
Ratings of Prime-3 reflect an acceptable ability to repay short-term obligations. |
P-4 |
Issuers (or supporting institutions) rated Not Prime do not fall within any of the Prime rating categories. |
SP-1 |
Strong capacity to pay principal and interest. An issue determined to possess a very strong capacity to pay debt service is given a plus (+) designation. |
SP-2 |
Satisfactory capacity to pay principal and interest, with some vulnerability to adverse financial and economic changes over the term of the notes. |
SP-3 |
Speculative capacity to pay principal and interest. |
D |
‘D’ is assigned upon failure to pay the note when due, completion of a distressed debt restructuring, or the filing of a bankruptcy petition or the taking of similar action and where default on an obligation is a virtual certainty, for example, due to automatic stay provisions. |
MIG 1 |
This designation denotes superior credit quality. Excellent protection is afforded by established cash flows, highly reliable liquidity support or demonstrated broad-based access to the market for refinancing. |
MIG 2 |
This designation denotes strong credit quality. Margins of protection are ample, although not as large as in the preceding group. |
MIG 3 |
This designation denotes acceptable credit quality. Liquidity and cash-flow protection may be narrow, and market access for refinancing is likely to be less well-established. |
SG |
This designation denotes speculative-grade credit quality. Debt instruments in this category may lack sufficient margins of protection. |
VMIG 1 |
This designation denotes superior credit quality. Excellent protection is afforded by the superior short-term credit strength of the liquidity provider and structural and legal protections that ensure the timely payment of purchase price upon demand. |
VMIG 2 |
This designation denotes strong credit quality. Good protection is afforded by the strong short-term credit strength of the liquidity provider and structural and legal protections that ensure the timely payment of purchase price upon demand. |
VMIG 3 |
This designation denotes acceptable credit quality. Adequate protection is afforded by the satisfactory short-term credit strength of the liquidity provider and structural and legal protections that ensure the timely payment of purchase price upon demand. |
SG |
This designation denotes speculative-grade credit quality. Demand features rated in this category may be supported by a liquidity provider that does not have a sufficiently strong short-term rating or may lack the structural or legal protections necessary to ensure the timely payment of purchase price upon demand. |
Pfd-1 |
Preferred shares rated Pfd-1 are generally of superior credit quality, and are supported by entities with strong earnings and balance sheet characteristics. Pfd-1 ratings generally correspond with issuers with a AAA or AA category reference point1. |
Pfd-2 |
Preferred shares rated Pfd-2 are generally of good credit quality. Protection of dividends and principal is still substantial, but earnings, the balance sheet and coverage ratios are not as strong as Pfd-1 rated companies. Generally, Pfd-2 ratings correspond with issuers with an A category or higher reference point. |
Pfd-3 |
Preferred shares rated Pfd-3 are generally of adequate credit quality. While protection of dividends and principal is still considered acceptable, the issuing entity is more susceptible to adverse changes in financial and economic conditions, and there may be other adverse conditions present which detract from debt protection. Pfd-3 ratings generally correspond with issuers with a BBB category or higher reference point. |
Pfd-4 |
Preferred shares rated Pfd-4 are generally speculative, where the degree of protection afforded to dividends and principal is uncertain, particularly during periods of economic adversity. Issuers with preferred shares rated Pfd-4 generally correspond with issuers with a BB category or higher reference point. |
Pfd-5 |
Preferred shares rated Pfd-5 are generally highly speculative and the ability of the entity to maintain timely dividend and principal payments in the future is highly uncertain. Entities with a Pfd-5 rating generally correspond with issuers with a B category or higher reference point. Preferred shares rated Pfd-5 often have characteristics that, if not remedied, may lead to default. |
D |
When the issuer has filed under any applicable bankruptcy, insolvency or winding up or the issuer is in default per the legal documents, a downgrade to D may occur. Because preferred share dividends are only payable when approved, the non-payment of a preferred share dividend does not necessarily result in a D. DBRS Morningstar may also use SD (Selective Default) in cases where only some securities are impacted, such as the case of a “distressed exchange”. See the Default Definition document posted on the website for more information. |
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(d)(1) |
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(d)(2)(a) |
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(d)(2)(b) |
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(d)(3) |
Reserved. |
(d)(4) |
Reserved. |
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(l) |
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(o) |
Reserved. |
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(99)(a) |
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(99)(b) |
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(99)(c) |
EX-101.INS |
XBRL Instance Document - the instance document does not appear on the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. |
EX-101.SCH |
XBRL Taxonomy Extension Schema Document. |
EX-101.CAL |
XBRL Taxonomy Extension Calculation Linkbase Document. |
EX-101.DEF |
XBRL Taxonomy Extension Definition Linkbase Document. |
EX-101.LAB |
XBRL Taxonomy Extension Labels Linkbase Document. |
EX-101.PRE |
XBRL Taxonomy Extension Presentation Linkbase Document. |
Name with Registrant |
Positions and Office with JPMorgan Distribution Services, Inc. |
Positions and Offices with the Funds |
Wendy Barta |
Director, Executive Director & President |
None |
Andrea Lisher |
Director & Managing Director |
None |
Joseph F. Sanzone |
Director & Managing Director |
None |
Omar F. Altahawi |
Managing Director & Treasurer |
None |
Gary C. Krivo |
Managing Director & Chief Risk Officer |
None |
Michael R. Machulski |
Director & Managing Director |
None |
Brian S. Shlissel |
Managing Director |
President & Principal Executive Officer |
James A. Hoffman |
Executive Director |
None |
Carmine Lekstutis |
Executive Director & Chief Legal Officer |
Assistant Secretary |
Jessica K. Ditullio |
Executive Director & Assistant Secretary |
Assistant Secretary |
Kevin Kloza |
Executive Director and Chief Compliance Officer |
None |
Andrea Lang |
Vice President & Anti-Money Laundering Compliance Officer |
None |
Frank J. Drozek |
Executive Director & Assistant Treasurer |
None |
Christopher J. Mohr |
Executive Director & Assistant Treasurer |
None |
Joanna Corey |
Executive Director & Assistant Secretary |
None |
Marcela Castro |
Executive Director & Assistant Secretary |
None |
Afiya M. Jordan |
Vice President & Secretary |
None |
Amee Kantesaria |
Vice President & Assistant Secretary |
None |
Amy Hsu |
Vice President & Assistant Secretary |
None |
Andris Alexander |
Vice President & Assistant Secretary |
None |
Theodore Weisman |
Vice President & Assistant Secretary |
None |
(1) |
J.P. Morgan Investment Management Inc., 383 Madison Avenue, New York, New York 10179 (records relating to its functions as Investment Adviser). |
(2) |
JPMorgan Distribution Services, Inc., 1111 Polaris Parkway, Columbus, Ohio 43240 (records relating to its functions as Distributor for all Funds). |
(3) |
J.P. Morgan Investment Management Inc., 383 Madison Avenue, New York, NY 10179 (records relating to its functions as Administrator for all Funds). |
(4) |
DST Systems Inc., 333 West 11th Street, Kansas City, Mo 64105 (records relating to its functions as transfer agent to the Funds). |
(5) |
JPMorgan Chase Bank, N.A. 383 Madison Avenue, New York, New York 10179 (records relating to its functions as custodian). |
JPMorgan Trust II | |
By: |
Brian S. Shlissel* |
|
Name: Brian S. Shlissel |
|
Title: President and Principal Executive Officer |
John F. Finn* |
John F. Finn |
Trustee |
Stephen P. Fisher* |
Stephen P. Fisher |
Trustee |
Gary L. French* |
Gary L. French |
Trustee |
Kathleen M. Gallagher* |
Kathleen M. Gallagher |
Trustee |
Robert J. Grassi* |
Robert J. Grassi |
Trustee |
Frankie D. Hughes* |
Frankie D. Hughes |
Trustee |
Raymond Kanner* |
Raymond Kanner |
Trustee |
Thomas P. Lemke* |
Thomas P. Lemke |
Trustee |
Timothy J. Clemens* |
Timothy J. Clemens |
Treasurer and Principal Financial Officer |
*By |
/s/ Matthew J. Beck |
|
Matthew J. Beck |
|
Attorney-In-Fact |
Lawrence R. Maffia* |
Lawrence R. Maffia |
Trustee |
Mary E. Martinez* |
Mary E. Martinez |
Trustee |
Marilyn McCoy* |
Marilyn McCoy |
Trustee |
Robert A. Oden, Jr.* |
Robert A. Oden, Jr. |
Trustee |
Marian U. Pardo* |
Marian U. Pardo |
Trustee |
Emily A. Youssouf* |
Emily A. Youssouf |
Trustee |
Robert F. Deutsch* |
Robert F. Deutsch |
Trustee |
Nina O. Shenker* |
Nina O. Shenker |
Trustee |
Brian S. Shlissel* |
Brian S. Shlissel |
President and Principal Executive Officer |
Exhibit No. |
Description |
(i) |
Opinion and consent of counsel. |
(j) |
Consent of independent registered public accounting firm. |
EX-101.INS |
XBRL Instance Document - the instance document does not appear on the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. |
EX-101.SCH |
XBRL Taxonomy Extension Schema Document. |
EX-101.CAL |
XBRL Taxonomy Extension Calculation Linkbase Document. |
EX-101.DEF |
XBRL Taxonomy Extension Definition Linkbase Document. |
EX-101.LAB |
XBRL Taxonomy Extension Labels Linkbase Document. |
EX-101.PRE |
XBRL Taxonomy Extension Presentation Linkbase Document. |
|
1095 Avenue of the Americas New York, NY 10036-6797 +1 212 698 3500 Main +1 212 698 3599 Fax www.dechert.com
|
June 22, 2022
JPMorgan Trust II
277 Park Avenue
New York, NY 10172
Re: | JPMorgan Trust II |
File Nos. 002-95973 and 811-04236
Dear Ladies and Gentlemen:
We have acted as counsel for JPMorgan Trust II, a Delaware statutory trust (the Trust), and its separate series, JPMorgan Short-Intermediate Municipal Bond Fund, JPMorgan Sustainable Municipal Income Fund and JPMorgan Tax Free Bond Fund (the Funds), in connection with Post-Effective Amendment No. 333 to the Trusts Registration Statement on Form N-1A (the Registration Statement) filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the Securities Act).
We have examined and relied upon originals, copies or electronic mail transmissions of, among other things, the following: the Registration Statement; the Certificate of Trust of the Trust as filed with the Secretary of State of the State of Delaware; the Declaration of Trust of the Trust dated as of November 5, 2004, as amended to date; and the Amended and Restated By-Laws of the Trust dated as of November 5, 2004, as amended to date. We have also examined such documents and questions of law as we have deemed necessary or appropriate for the purposes of the opinions expressed herein.
In rendering this opinion we have assumed, without independent verification, (i) the due authority of all individuals signing in representative capacities and the genuineness of signatures; (ii) the authenticity, completeness and continued effectiveness of all documents or copies furnished to us; (iii) that any resolutions provided have been duly adopted by the Funds Board of Trustees; (iv) that the facts contained in the instruments and certificates or statements of public officials, officers and representatives of the Funds on which we have relied for the purposes of this opinion are true and correct; and (v) that no amendments, agreements, resolutions or actions have been approved, executed or adopted which would limit, supersede or modify the items described above.
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JPMorgan Trust II Page 2 |
Based upon the foregoing, we are of the opinion that the Funds shares registered under the Securities Act, when issued and sold in accordance with the terms of purchase described in the Registration Statement, will be validly issued, fully paid and non-assessable.
The opinions expressed herein are given as of the date hereof and we undertake no obligation and hereby disclaim any obligation to advise you of any change after the date of this opinion pertaining to any matter referred to herein. We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the use of our name in the Registration Statement, unless and until we revoke such consent. In giving such consent, however, we do not admit that we are within the category of persons whose consent is required by Section 7 of the Securities Act or the rules and regulations thereunder.
We are members of the Bar of the State of New York and do not hold ourselves out as being conversant with the laws of any jurisdiction other than those of the United States of America and the State of New York. We note that we are not licensed to practice law in the State of Delaware, and to the extent that any opinion herein involves the laws of the State of Delaware, such opinion should be understood to be based solely upon our review of the documents referred to above and the published statutes of the State of Delaware.
Very Truly Yours,
/s/ Dechert LLP |
Dechert LLP |
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We hereby consent to the incorporation by reference in this Registration Statement on Form N-1A of JPMorgan Trust II of our reports dated April 28, 2022, relating to the financial statements and financial highlights for the funds constituting JPMorgan Trust II listed in Appendix A (the Funds), which appear in the Funds Annual Report on Form N-CSR for the year ended February 28, 2022. We also consent to the references to us under the headings Financial Statements, Independent Registered Public Accounting Firm and Financial Highlights in such Registration Statement.
/s/ PricewaterhouseCoopers LLP
New York, New York
June 21, 2022
Appendix A
JPMorgan Core Bond Fund
JPMorgan Core Plus Bond Fund
JPMorgan Government Bond Fund
JPMorgan High Yield Fund
JPMorgan Limited Duration Bond Fund
JPMorgan Mortgage-Backed Securities Fund
JPMorgan Short Duration Bond Fund
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We hereby consent to the incorporation by reference in this Registration Statement on Form N-1A of JPMorgan Trust II of our reports dated April 27, 2022, relating to the financial statements and financial highlights for the funds constituting JPMorgan Trust II listed in Appendix A (the Funds), which appear in the Funds Annual Report on Form N-CSR for the year ended February 28, 2022. We also consent to the references to us under the headings Financial Statements, Independent Registered Public Accounting Firm and Financial Highlights in such Registration Statement.
/s/ PricewaterhouseCoopers LLP
New York, New York
June 21, 2022
Appendix A
JPMorgan Liquid Assets Money Market Fund
JPMorgan Municipal Money Market Fund
JPMorgan Short-Intermediate Municipal Bond Fund
JPMorgan Sustainable Municipal Income Fund
JPMorgan Tax Free Bond Fund
JPMorgan U.S. Government Money Market Fund
JPMorgan U.S. Treasury Plus Money Market Fund
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Label | Element | Value | ||||
---|---|---|---|---|---|---|
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Registrant Name | dei_EntityRegistrantName | JPMORGAN TRUST II | ||||
Prospectus Date | rr_ProspectusDate | Jul. 01, 2022 | ||||
A C I Shares | JPMorgan Sustainable Municipal Income Fund | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Risk/Return [Heading] | rr_RiskReturnHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Class/Ticker: A/OTBAX; C/OMICX; I/HLTAX</span> | ||||
Objective [Heading] | rr_ObjectiveHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">What is the goal of the Fund?</span> | ||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Fund seeks current income exempt from federal income taxes. | ||||
Expense [Heading] | rr_ExpenseHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Fees and Expenses of the Fund</span> | ||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | The following tables describe the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and examples below. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $100,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds – SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 71 and in “Financial Intermediary-Specific Sales Charge Waivers” in Appendix A of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information. | ||||
Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">SHAREHOLDER FEES </span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">(Fees paid directly from your investment)</span> | ||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">ANNUAL FUND OPERATING EXPENSES</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">(Expenses that you pay each year as a percentage of the value</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">of your investment)</span> | ||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | <span style="font-family:Arial;font-size:8pt;">6/30/</span><span style="font-family:Arial;font-size:8pt;">23</span> | ||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Portfolio Turnover</span> | ||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 18% of the average value of its portfolio. | ||||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 18.00% | ||||
Expense Breakpoint Discounts [Text] | rr_ExpenseBreakpointDiscounts | <span style="font-family:Arial;font-size:10pt;"> You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least </span><span style="font-family:Arial;font-size:10pt;">$100,000</span><span style="font-family:Arial;font-size:10pt;"> in the J.P. Morgan Funds. </span> | ||||
Expense Breakpoint, Minimum Investment Required [Amount] | rr_ExpenseBreakpointMinimumInvestmentRequiredAmount | $ 100,000 | ||||
Expense Example [Heading] | rr_ExpenseExampleHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Example</span> | ||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 6/30/23 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. | ||||
Expense Example by, Year, Caption [Text] | rr_ExpenseExampleByYearCaption | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">IF YOU SELL YOUR SHARES, YOUR COST WOULD BE:</span> | ||||
Expense Example, No Redemption, By Year, Caption [Text] | rr_ExpenseExampleNoRedemptionByYearCaption | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">IF YOU DO NOT SELL YOUR SHARES, YOUR COST</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">WOULD BE:</span> | ||||
Strategy [Heading] | rr_StrategyHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">What are the Fund’s main investment strategies?</span> | ||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund invests in a portfolio of municipal bonds, including municipal mortgage-backed and asset-backed securities. While current income is the Fund’s primary focus, it seeks to produce income in a manner consistent with the preservation of principal.Under normal circumstances, the Fund invests at least 80% of its Assets in municipal bonds, the income from which is exempt from federal income tax. This is a fundamental policy. For the purposes of this policy, “Assets” means net assets, plus the amount of borrowings for investment purposes. The Fund also invests in municipal mortgage-backed and asset-backed securities, as well as restricted securities. The Fund may invest a significant portion or all of its assets in municipal mortgage-backed securities at the adviser’s discretion. The securities in which the Fund invests may have fixed rates of return or floating or variable rates.Municipal bonds are debt securities with maturities of 90 days or more at the time of issuance issued by states, territories and possessions of the United States, including the District of Columbia, and their respective authorities, political subdivisions, agencies and instrumentalities, the interest on which is exempt from federal income tax. The securities are issued to raise funds for various public and private purposes. Municipal bonds include private activity and industrial development bonds, tax anticipation notes and participations in pools of municipal securities.Up to 100% of the Fund’s assets may be invested in municipal bonds, the interest on which may be subject to the federal alternative minimum tax for individuals.The Fund may invest up to 20% of its total assets in securities rated below investment grade. Such securities are known as “junk bonds,” “high yield bonds” and “non-investment grade bonds.” Junk bonds also include unrated securities that the adviser believes to be of comparable quality to debt securities that are rated below investment grade. These securities generally are rated in the fifth or lower rating categories (for example, BB+ or lower by S&P and Ba1 or lower by Moody’s). These securities generally offer a higher yield than investment grade securities, but involve a high degree of risk. A security’s quality is determined at the time of purchase and securities that are rated investment grade or the unrated equivalent may be downgraded or decline in credit quality, such that, following the time of purchase, they would be deemed to be below investment grade. If the quality of an investment grade security is downgraded subsequent to purchase to below investment grade, the Fund may continue to hold the security.As a matter of fundamental policy, the Fund will not invest more than 25% of its total assets: (i) in securities within a single industry; or (ii) in securities of governmental units or issuers in the same state, territory or possession. However, from time to time, the Fund will invest more than 25% of its total assets in municipal housing authority obligations.The Fund’s average weighted maturity will range from three to 15 years, although the Fund may shorten its average weighted maturity to as little as two years if appropriate for temporary defensive purposes. Average weighted maturity is the average of all the current maturities (that is, the term of the securities) of the individual bonds in a Fund calculated so as to count most heavily those securities with the highest dollar value. Average weighted maturity is important to investors as an indication of a Fund’s sensitivity to changes in interest rates. Usually, the longer the average weighted maturity, the more fluctuation in share price you can expect.“Sustainable” in the Fund’s name refers to the Fund’s strategy to tilt the Fund’s portfolio based on social or environmental benefits as part of its investment strategy. Under normal circumstances, the Fund invests the majority of its assets in securities whose use of proceeds, in the adviser’s opinion, provide positive social or environmental benefits. In order to identify and invest in bonds that provide positive social or environmental benefits, the adviser determines and assesses each bond’s intended use of proceeds. The adviser will generally view bonds that finance affordable housing, healthcare, municipal water and sewer, education, mass transit, not for profits and issuer designated green bonds as promoting positive social or environmental benefits. In addition to the uses of proceeds noted above, the adviser may identify additional uses of bond proceeds that it believes will provide positive social or environmental benefits and may invest in such bonds as part of the Fund’s investment strategy. The use of proceeds determination for securities purchased by the Fund will be made at the time of purchase. If the use of proceeds of a security changes after the time of purchase so as to no longer provide positive social and/or environmental benefits, the Fund may continue to hold the security.The Fund may also invest in zero-coupon securities.Investment Process: 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 majority of which will provide positive social or environmental benefits. The adviser is value oriented and makes investment decisions after performing a risk/reward analysis that includes an evaluation of interest rate risk, credit risk, duration, liquidity, any security pledge, and a review of the security’s attributes such as the coupon, maturity and any redemption and tender provisions. The adviser’s risk/reward analysis along with its use of proceeds assessment allows the adviser to collectively evaluate those criteria when selecting securities for purchase.The adviser utilizes a proprietary framework to monitor the portfolio’s overall investment in bonds that have been designated as providing positive social or environmental benefits. Through the framework, the adviser assesses characteristics of bond issuances and their proceeds using third party data and/or internal research. The proprietary framework, as well as the adviser’s views on municipal bond use of proceeds, are periodically reviewed internally.Generally, the adviser determines whether or not to sell a security by looking at a number of factors such as the security’s attributes (e.g., coupon, maturity and redemption/tender provisions), liquidity, relative value and the credit quality of the security. The adviser also factors in the overall investment strategy of the Fund, including its positioning relative to the benchmark, its duration and its credit strategy, as well as the adviser’s interest rate outlook. | ||||
Risk [Heading] | rr_RiskHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">The Fund’s Main Investment Risks</span> | ||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The Fund is subject to management risk and may not achieve its objective if the adviser’s expectations regarding particular instruments or markets are not met.An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.Interest Rate Risk. The Fund mainly invests in bonds and other debt securities. These securities will increase or decrease in value based on changes in interest rates. If rates increase, the value of the Fund’s investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. The Fund may face a heightened level of interest rate risk due to certain changes in monetary policy. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also may be low or the Fund may be unable to maintain positive returns.Municipal Obligations Risk. The risk of a municipal obligation generally depends on the financial and credit status of the issuer. Changes in the financial health of a municipal issuer may make it difficult for the issuer to make interest and principal payments when due. This could decrease the Fund’s income or hurt the ability to preserve capital and liquidity.Under some circumstances, municipal obligations might not pay interest unless the state legislature or municipality authorizes money for that purpose.Municipal obligations may be more susceptible to downgrades or defaults during recessions or similar periods of economic stress. In addition, since some municipal obligations may be secured or guaranteed by banks and other institutions, the risk to the Fund could increase if the banking or financial sector suffers an economic downturn and/or if the credit ratings of the institutions issuing the guarantee are downgraded or at risk of being downgraded by a national rating organization. Such a downward revision or risk of being downgraded may have an adverse effect on the market prices of the bonds and thus the value of the Fund’s investments.In addition to being downgraded, an insolvent municipality may file for bankruptcy. The reorganization of a municipality’s debts may significantly affect the rights of creditors and the value of the securities issued by the municipality and the value of the Fund’s investments.Social or Environmental Investing Risk. The Fund’s investment in securities whose use of proceeds, in the adviser’s opinion, provide positive social or environmental benefits could cause it to perform differently compared to funds that do not have such a policy. Investing in securities whose use of proceeds, in the adviser’s opinion, provide positive social or environmental benefits may result in the Fund forgoing opportunities to buy certain securities when it might otherwise be advantageous to do so, or selling securities when it might be otherwise disadvantageous for it to do so. In addition, there is a risk that the municipal bonds identified by the adviser’s use of proceeds determination do not operate as expected when addressing positive social or environmental benefits. The adviser’s assessment of the positive social or environmental impact of a municipal bond’s proceeds is made at the time of purchase and the actual use of proceeds by the issuer could vary over time, which could cause the Fund to be invested in bonds that do not comply with the Fund’s approach towards considering social or environmental characteristics. The factors that the adviser considers in evaluating whether a security has positive social or environmental benefits may change over time. There are significant differences in interpretations of what it means to promote positive social or environmental benefits. While the adviser believes its definitions are reasonable, the portfolio decisions it makes may differ with other’s views. In making investment decisions, the adviser relies on information and third-party data that could be incomplete or erroneous, which could cause the adviser to incorrectly assess a municipal bond’s positive social or environmental impact.Municipal Housing Authority Obligations Risk. The Fund may invest more than 25% of its total assets in municipal housing authority obligations. As a result, the Fund could be more susceptible to developments which affect those obligations.Mortgage-Related and Other Asset-Backed Securities Risk.Mortgage-related and asset-backed securities, including certain municipal housing authority obligations, are subject to certain other risks. The value of these securities will be influenced by the factors affecting the housing market and the assets underlying such securities. As a result, during periods of declining asset values, difficult or frozen credit markets, significant changes in interest rates, or deteriorating economic conditions, mortgage-related and asset-backed securities may decline in value, face valuation difficulties, become more volatile and/or become illiquid. These securities are also subject to prepayment and call risk. In periods of declining interest rates, the Fund may be subject to contraction risk, which is the risk that borrowers will increase the rate at which they prepay the maturity value of mortgages and other obligations. When mortgages and other obligations are prepaid and when securities are called, the Fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. In periods of either rising or declining interest rates, the Fund may be subject to extension risk, which is the risk that the expected maturity of an obligation will lengthen in duration due to a decrease in prepayments. As a result, in certain interest rate environments, the Fund may exhibit additional volatility. Additionally, asset-backed, mortgage-related and mortgage-backed securities are subject to risks associated with their structure and the nature of the assets underlying the securities and the servicing of those assets. Certain asset-backed, mortgage-related and mortgage-backed securities may face valuation difficulties and may be less liquid than other types of asset-backed, mortgage-related and mortgage-backed securities, or debt securities.Debt Securities and Other Callable Securities Risk. As part of its main investment strategy, the Fund invests in debt securities. The issuers of these securities and other callable securities may be able to repay principal in advance, especially when interest rates fall. Changes in prepayment rates can affect the return on investment and yield of these securities. When debt obligations are prepaid and when securities are called, the Fund may have to reinvest in securities with a lower yield. The Fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss.Credit Risk. The Fund’s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. If an issuer’s or a counterparty’s financial condition worsens, the credit quality of the issuer or counterparty may deteriorate. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.Alternative Minimum Tax Risk. The Fund may invest in securities, the interest on which may be subject to the federal alternative minimum tax.Taxability Risk. The Fund’s investments in municipal securities rely on the opinion of the issuer’s bond counsel that the interest paid on those securities will not be subject to federal income tax. Tax opinions are generally provided at the time the municipal security is initially issued. However, after the Fund buys a security, the Internal Revenue Service may determine that a bond issued as tax-exempt should in fact be taxable and the Fund’s dividends with respect to that bond might be subject to federal income tax.High Yield Securities Risk. The Fund may invest in securities and instruments of municipal issuers that are highly leveraged, less creditworthy or financially distressed. These investments (also known as junk bonds) are considered to be speculative and are subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity.In recent years, there has been a broad trend of weaker or less restrictive covenant protections in the high yield market. Among other things, under such weaker or less restrictive covenants, borrowers might be able to exercise more flexibility with respect to certain activities than borrowers who are subject to stronger or more protective covenants. For example, borrowers might be able to incur more debt, including secured debt, return more capital to shareholders, remove or reduce assets that are designated as collateral securing high yield securities, increase the claims against assets that are permitted against collateral securing high yield securities or otherwise manage their business in ways that could impact creditors negatively. In addition, certain privately held borrowers might be permitted to file less frequent, less detailed or less timely financial reporting or other information, which could negatively impact the value of the high yield securities issued by such borrowers. Each of these factors might negatively impact the high yield instruments held by the Fund.No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. The inability to dispose of the Fund’s securities and other investments in a timely fashion could result in losses to the Fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk may be more pronounced for the Fund. When instruments are prepaid, the Fund may have to reinvest in instruments with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these instruments, resulting in an unexpected capital loss and/ or a decrease in the amount of dividends and yield.Zero-Coupon Bond Risk. The market value of a zero-coupon bond is generally more volatile than the market value of other fixed income securities with similar maturities that pay interest periodically. In addition, federal income tax law requires that the holder of a zero-coupon bond accrue a portion of the discount at which the bond was purchased as taxable income each year. The Fund may consequently have to dispose of portfolio securities under disadvantageous circumstances to generate cash to satisfy its requirement as a regulated investment company to distribute all of its net income (including non-cash income attributable to zero-coupon securities). These actions may reduce the assets to which the Fund’s expenses could otherwise be allocated and may reduce the Fund’s rate of return.Restricted Securities Risk. Restricted securities are securities that cannot be offered for public resale unless registered under the applicable securities laws or that have a contractual restriction that prohibits or limits their resale. Restricted securities include private placement securities that have not been registered under the applicable securities laws, such as Rule 144A securities, and securities of U.S. and non-U.S. issuers that are issued pursuant to Regulation S. Private placements are generally subject to strict restrictions on resale. Restricted securities may not be listed on an exchange and may have no active trading market. Restricted securities may be illiquid. The Fund may be unable to sell a restricted security on short notice or may be able to sell them only at a price below current value. It may be more difficult to determine a market value for a restricted security. Also, the Fund may get only limited information about the issuer of a restricted security, so it may be less able to predict a loss. In addition, if Fund management receives material non-public information about the issuer, the Fund may as a result be unable to sell the securities. Certain restricted securities may involve a high degree of business and financial risk and may result in substantial losses.Transactions Risk. The Fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, large purchases of Fund shares may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund’s portfolio may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes due to a number of factors, including inflation (or expectations for inflation), deflation (or expectations for deflation), interest rates, global demand for particular products or resources, market instability, debt crises and downgrades, embargoes, tariffs, sanctions and other trade barriers, regulatory events, other governmental trade or market control programs and related geopolitical events. In addition, the value of the Fund’s investments may be negatively affected by the occurrence of global events such as war, terrorism, environmental disasters, natural disasters or events, country instability, and infectious disease epidemics or pandemics.For example, the outbreak of COVID-19 has negatively affected economies, markets and individual companies throughout the world, including those in which the Fund invests. The effects of this pandemic to public health and business and market conditions, including, among other things, reduced consumer demand and economic output, supply chain disruptions and increased government spending, may continue to have a significant negative impact on the performance of the Fund’s investments, increase the Fund’s volatility, exacerbate pre-existing political, social and economic risks to the Fund, and negatively impact broad segments of businesses and populations.In addition, governments, their regulatory agencies, or self-regulatory organizations have taken or may take actions in response to the pandemic that affect the instruments in which the Fund invests, or the issuers of such instruments, in ways that could have a significant negative impact on the Fund’s investment performance. The duration and extent of COVID-19 and associated economic and market conditions and uncertainty over the long-term cannot be reasonably estimated at this time. The ultimate impact of COVID-19 and the extent to which the associated conditions impact a Fund will also depend on future developments, which are highly uncertain, difficult to accurately predict and subject to frequent changes.Industry and Sector Focus Risk. At times the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the Fund increases the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.You could lose money investing in the Fund. | ||||
Risk Lose Money [Text] | rr_RiskLoseMoney | <span style="font-family:Arial;font-size:10pt;margin-left:3pt;">You could lose money investing in the Fund.</span> | ||||
Risk Not Insured Depository Institution [Text] | rr_RiskNotInsuredDepositoryInstitution | <span style="color:#000000;font-family:Arial;font-size:10pt;line-height:11pt;">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.</span> | ||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | <span style="font-family:Arial;font-size:11pt;font-weight:bold;">The Fund’s Past Performance</span> | ||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class I Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns over the past one year, five years and ten years. The table compares the Fund’s performance to the performance of the Bloomberg U.S. 1-15 Year Blend (1-17) Municipal Bond Index. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. | ||||
Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | <span style="font-family:Arial;font-size:10pt;">The bar chart shows how the performance of the </span><span style="font-family:Arial;font-size:10pt;">Fund’s Class I Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns over the past one year, five years and ten years.</span> | ||||
Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | <span style="font-family:Arial;font-size:10pt;font-style:italic;">1-800-480-4111</span> | ||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | <span style="font-family:Arial;font-size:10pt;font-style:italic;">www.jpmorganfunds.com</span> | ||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | <span style="font-family:Arial;font-size:10pt;">Past performance (before and after taxes) is not necessarily an </span><span style="font-family:Arial;font-size:10pt;">indication of how the Fund will perform in the future. </span> | ||||
Bar Chart [Heading] | rr_BarChartHeading | <span style="color:#FFFFFF;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0.0pt;">YEAR-BY-YEAR RETURNS — CLASS I SHARES</span> | ||||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | Best Quarter1st quarter, 20192.32%Worst Quarter4th quarter, 2016-3.14%The Fund’s year-to-date total returnthrough3/31/22was-5.77%. | ||||
Performance Table Heading | rr_PerformanceTableHeading | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">AVERAGE ANNUAL TOTAL RETURNS</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">(For periods ended December 31, 2021)</span> | ||||
Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | <span style="color:#000000;font-family:Arial;font-size:10pt;"> After-tax </span><span style="color:#000000;font-family:Arial;font-size:10pt;">returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> | ||||
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | <span style="color:#000000;font-family:Arial;font-size:10pt;"> Actual after-tax returns depend on the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investor’s tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.</span> | ||||
Performance Table One Class of after Tax Shown [Text] | rr_PerformanceTableOneClassOfAfterTaxShown | <span style="color:#000000;font-family:Arial;font-size:10pt;">After-tax returns are shown for only the Class I Shares and after-tax returns for the other classes will vary.</span> | ||||
Performance Table Narrative | rr_PerformanceTableNarrativeTextBlock | After-tax returns are shown for only the Class I Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. | ||||
A C I Shares | JPMorgan Sustainable Municipal Income Fund | Class A | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Maximum Sales Charge (Load) Imposed on Purchases as % of the Offering Price | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | 3.75% | ||||
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares | rr_MaximumDeferredSalesChargeOverOther | none | [1] | |||
Management Fees | rr_ManagementFeesOverAssets | 0.30% | ||||
Distribution (Rule 12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.25% | ||||
Service Fees | rr_Component1OtherExpensesOverAssets | 0.25% | ||||
Remainder of Other Expenses | rr_Component2OtherExpensesOverAssets | 0.16% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 0.41% | ||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.96% | ||||
Fee Waivers and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.26%) | [2] | |||
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 0.70% | [2] | |||
1 Year | rr_ExpenseExampleYear01 | $ 444 | ||||
3 Years | rr_ExpenseExampleYear03 | 644 | ||||
5 Years | rr_ExpenseExampleYear05 | 862 | ||||
10 Years | rr_ExpenseExampleYear10 | 1,486 | ||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 444 | ||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 644 | ||||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 862 | ||||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 1,486 | ||||
Past 1 Year | rr_AverageAnnualReturnYear01 | (2.88%) | ||||
Past 5 Years | rr_AverageAnnualReturnYear05 | 2.28% | ||||
Past 10 Years | rr_AverageAnnualReturnYear10 | 2.25% | ||||
A C I Shares | JPMorgan Sustainable Municipal Income Fund | Class C | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Maximum Sales Charge (Load) Imposed on Purchases as % of the Offering Price | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares | rr_MaximumDeferredSalesChargeOverOther | 1.00% | ||||
Management Fees | rr_ManagementFeesOverAssets | 0.30% | ||||
Distribution (Rule 12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.75% | ||||
Service Fees | rr_Component1OtherExpensesOverAssets | 0.25% | ||||
Remainder of Other Expenses | rr_Component2OtherExpensesOverAssets | 0.16% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 0.41% | ||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.46% | ||||
Fee Waivers and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.21%) | [2] | |||
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 1.25% | [2] | |||
1 Year | rr_ExpenseExampleYear01 | $ 227 | ||||
3 Years | rr_ExpenseExampleYear03 | 441 | ||||
5 Years | rr_ExpenseExampleYear05 | 777 | ||||
10 Years | rr_ExpenseExampleYear10 | 1,593 | ||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 127 | ||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 441 | ||||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 777 | ||||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 1,593 | ||||
Past 1 Year | rr_AverageAnnualReturnYear01 | (0.78%) | ||||
Past 5 Years | rr_AverageAnnualReturnYear05 | 2.50% | ||||
Past 10 Years | rr_AverageAnnualReturnYear10 | 2.18% | ||||
A C I Shares | JPMorgan Sustainable Municipal Income Fund | Class I | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Maximum Sales Charge (Load) Imposed on Purchases as % of the Offering Price | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares | rr_MaximumDeferredSalesChargeOverOther | none | ||||
Management Fees | rr_ManagementFeesOverAssets | 0.30% | ||||
Distribution (Rule 12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | ||||
Service Fees | rr_Component1OtherExpensesOverAssets | 0.25% | ||||
Remainder of Other Expenses | rr_Component2OtherExpensesOverAssets | 0.16% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 0.41% | ||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.71% | ||||
Fee Waivers and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.26%) | [2] | |||
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 0.45% | [2] | |||
1 Year | rr_ExpenseExampleYear01 | $ 46 | ||||
3 Years | rr_ExpenseExampleYear03 | 201 | ||||
5 Years | rr_ExpenseExampleYear05 | 369 | ||||
10 Years | rr_ExpenseExampleYear10 | 858 | ||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 46 | ||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 201 | ||||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 369 | ||||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 858 | ||||
2012 | rr_AnnualReturn2012 | 4.56% | ||||
2013 | rr_AnnualReturn2013 | (1.37%) | ||||
2014 | rr_AnnualReturn2014 | 6.40% | ||||
2015 | rr_AnnualReturn2015 | 2.92% | ||||
2016 | rr_AnnualReturn2016 | 0.06% | ||||
2017 | rr_AnnualReturn2017 | 3.80% | ||||
2018 | rr_AnnualReturn2018 | 0.88% | ||||
2019 | rr_AnnualReturn2019 | 6.17% | ||||
2020 | rr_AnnualReturn2020 | 4.82% | ||||
2021 | rr_AnnualReturn2021 | 1.03% | ||||
Year to Date Return, Label | rr_YearToDateReturnLabel | <span style="font-family:Arial;font-size:9pt;margin-left:0.0pt;">The Fund’s year-to-date total return</span> | ||||
Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Mar. 31, 2022 | ||||
Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | (5.77%) | ||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | <span style="font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0.0pt;">Best Quarter</span> | ||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Mar. 31, 2019 | ||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 2.32% | ||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | <span style="font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0.0pt;">Worst Quarter</span> | ||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2016 | ||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (3.14%) | ||||
Past 1 Year | rr_AverageAnnualReturnYear01 | 1.03% | ||||
Past 5 Years | rr_AverageAnnualReturnYear05 | 3.32% | ||||
Past 10 Years | rr_AverageAnnualReturnYear10 | 2.90% | ||||
A C I Shares | JPMorgan Sustainable Municipal Income Fund | Return After Taxes on Distributions | Class I | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Past 1 Year | rr_AverageAnnualReturnYear01 | 1.02% | ||||
Past 5 Years | rr_AverageAnnualReturnYear05 | 3.25% | ||||
Past 10 Years | rr_AverageAnnualReturnYear10 | 2.77% | ||||
A C I Shares | JPMorgan Sustainable Municipal Income Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class I | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Past 1 Year | rr_AverageAnnualReturnYear01 | 1.43% | ||||
Past 5 Years | rr_AverageAnnualReturnYear05 | 3.08% | ||||
Past 10 Years | rr_AverageAnnualReturnYear10 | 2.81% | ||||
A C I Shares | JPMorgan Sustainable Municipal Income Fund | BLOOMBERG U.S. 1-15 YEAR BLEND (1-17) MUNICIPAL BOND INDEX(Reflects No Deduction for Fees, Expenses, or Taxes) | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Past 1 Year | rr_AverageAnnualReturnYear01 | 0.86% | ||||
Past 5 Years | rr_AverageAnnualReturnYear05 | 3.57% | ||||
Past 10 Years | rr_AverageAnnualReturnYear10 | 3.05% | ||||
|
Label | Element | Value | ||||
---|---|---|---|---|---|---|
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Registrant Name | dei_EntityRegistrantName | JPMORGAN TRUST II | ||||
Prospectus Date | rr_ProspectusDate | Jul. 01, 2022 | ||||
A C I Shares | JPMorgan Short-Intermediate Municipal Bond Fund | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Risk/Return [Heading] | rr_RiskReturnHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Class/Ticker: A/OSTAX; C/STMCX; I/JIMIX</span> | ||||
Objective [Heading] | rr_ObjectiveHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">What is the goal of the Fund?</span> | ||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Fund seeks as high a level of current income exempt from federal income tax as is consistent with relative stability of principal. | ||||
Expense [Heading] | rr_ExpenseHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Fees and Expenses of the Fund</span> | ||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | The following tables describe the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and examples below. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds – SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 71 and in “Financial Intermediary – Specific Sales Charge Waivers” in Appendix A of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information. | ||||
Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | <span style="color:#FFFFFF;font-family:Arial;font-size:7.5pt;font-weight:bold;margin-left:0.0pt;">SHAREHOLDER FEES </span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">(Fees paid directly from your investment)</span> | ||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">ANNUAL FUND OPERATING EXPENSES</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">(Expenses that you pay each year as a percentage of the value</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">of your investment)</span> | ||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | <span style="font-family:Arial;font-size:8pt;">6/30/</span><span style="font-family:Arial;font-size:8pt;">23</span> | ||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Portfolio Turnover</span> | ||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 21% of the average value of its portfolio. | ||||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 21.00% | ||||
Expense Footnotes [Text Block] | rr_ExpenseFootnotesTextBlock | “Acquired Fund Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund Fees and Expenses is included in the total returns of the Fund. Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used by the Fund to calculate its net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus. | ||||
Expense Breakpoint Discounts [Text] | rr_ExpenseBreakpointDiscounts | <span style="font-family:Arial;font-size:10pt;"> You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least </span><span style="font-family:Arial;font-size:10pt;">$50,000</span><span style="font-family:Arial;font-size:10pt;"> in the J.P. Morgan Funds. </span> | ||||
Expense Breakpoint, Minimum Investment Required [Amount] | rr_ExpenseBreakpointMinimumInvestmentRequiredAmount | $ 50,000 | ||||
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] | rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees | <span style="font-family:Arial;font-size:10pt;">Acquired </span><span style="font-family:Arial;font-size:10pt;">Fund Fees and Expenses are not direct costs of the Fund, are not used by the Fund to calculate its net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.</span> | ||||
Expense Example [Heading] | rr_ExpenseExampleHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Example</span> | ||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 6/30/23 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. | ||||
Expense Example by, Year, Caption [Text] | rr_ExpenseExampleByYearCaption | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">IF YOU SELL YOUR SHARES, YOUR COST WOULD BE:</span> | ||||
Expense Example, No Redemption, By Year, Caption [Text] | rr_ExpenseExampleNoRedemptionByYearCaption | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">IF YOU DO NOT SELL YOUR SHARES, YOUR COST</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">WOULD BE:</span> | ||||
Strategy [Heading] | rr_StrategyHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">What are the Fund’s main investment strategies?</span> | ||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | Under normal circumstances, the Fund invests at least 80% of its net Assets in municipal bonds, the income from which is exempt from federal income tax. This is a fundamental policy. For purposes of this policy, “Assets” means net assets, plus the amount of borrowings for investment purposes. The Fund invests in a portfolio of municipal bonds with an average weighted maturity of one to five years. Average weighted maturity is the average of all the current maturities (that is, the term of the securities) of the individual bonds in a Fund calculated so as to count most heavily those securities with the highest dollar value. Average weighted maturity is important to investors as an indication of a Fund’s sensitivity to changes in interest rates. Usually, the longer the average weighted maturity, the more fluctuation in share price you can expect.Municipal bonds are debt securities with maturities of 90 days or more at the time of issuance issued by states, territories and possessions of the United States, including the District of Columbia, and their respective authorities, political subdivisions, agencies and instrumentalities, the interest on which is exempt from federal income tax. The securities are issued to raise funds for various public and private purposes. Municipal bonds include private activity and industrial development bonds, tax anticipation notes and participations in pools of municipal securities.Up to 100% of the Fund’s assets may be invested in municipal bonds, the interest on which may be subject to the federal alternative minimum tax for individuals.The Fund also invests in municipal mortgage-backed and asset-backed securities, as well as auction rate securities and restricted securities. The Fund may invest a significant portion or all of its assets in municipal mortgage-backed securities at the adviser’s discretion. The securities in which the Fund invests may have fixed rates of return or floating or variable rates.The Fund may invest more than 25% of its total assets in municipal housing authority obligations. Up to 20% of the Fund’s assets may be held in cash and cash equivalents.The Fund may invest up to 20% of its total assets in securities rated below investment grade. Such securities are known as “junk bonds,” “high yield bonds” and “non-investment grade bonds.” Junk bonds also include unrated securities that the adviser believes to be of comparable quality to debt securities that are rated below investment grade. These securities generally are rated in the fifth or lower rating categories (for example, BB+ or lower by S&P and Ba1 or lower by Moody’s). These securities generally offer a higher yield than investment grade securities, but involve a high degree of risk. A security’s quality is determined at the time of purchase and securities that are rated investment grade or the unrated equivalent may be downgraded or decline in credit quality, such that, following the time of purchase, they would be deemed to be below investment grade. If the quality of an investment grade security is downgraded subsequent to purchase to below investment grade, the Fund may continue to hold the security.The Fund may also invest in zero-coupon securities.Investment Process: 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 and the complex legal and technical structure of the transaction. As part of its investment process, the adviser seeks to assess the impact ofenvironmental, social and governance factors on certain 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 sectors to identify financially material issues on the Fund’s investments in municipal issues and ascertain key issues that merit engagement with municipal issuers. These assessments may not be conclusive and securities 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 that may be positively impacted by such factors. | ||||
Risk [Heading] | rr_RiskHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">The Fund’s Main Investment Risks</span> | ||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The Fund is subject to management risk and may not achieve its objective if the adviser’s expectations regarding particular instruments or markets are not met.An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.Interest Rate Risk. The Fund mainly invests in bonds and other debt securities. These securities will increase or decrease in value based on changes in interest rates. If rates increase, the value of the Fund’s investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. The Fund may face a heightened level of interest rate risk due to certain changes in monetary policy. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also may be low or the Fund may be unable to maintain positive returns.Municipal Obligations Risk. The risk of a municipal obligation generally depends on the financial and credit status of the issuer. Changes in the financial health of a municipal issuer may make it difficult for the issuer to make interest and principal payments when due. This could decrease the Fund’s income or hurt the ability to preserve capital and liquidity.Under some circumstances, municipal obligations might not pay interest unless the state legislature or municipality authorizes money for that purpose.Municipal obligations may be more susceptible to downgrades or defaults during recessions or similar periods of economic stress. In addition, since some municipal obligations may be secured or guaranteed by banks and other institutions, the risk to the Fund could increase if the banking or financial sector suffers an economic downturn and/or if the credit ratings of the institutions issuing the guarantee are downgraded or at risk of being downgraded by a national rating organization. Such a downward revision or risk of being downgraded may have an adverse effect on the market prices of the bonds and thus the value of the Fund’s investments.In addition to being downgraded, an insolvent municipality may file for bankruptcy. The reorganization of a municipality’s debts may significantly affect the rights of creditors and the value of the securities issued by the municipality and the value of the Fund’s investments.Municipal Housing Authority Obligations Risk. The Fund may invest more than 25% of its total assets in municipal housing authority obligations. As a result, the Fund could be more susceptible to developments which affect those obligations.Credit Risk. The Fund’s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. If an issuer’s or a counterparty’s financial condition worsens, the credit quality of the issuer or counterparty may deteriorate. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.Alternative Minimum Tax Risk. The Fund may invest in securities, the interest on which may be subject to the federal alternative minimum tax.Mortgage-Related and Other Asset-Backed Securities Risk.Mortgage-related and asset-backed securities, including certain municipal housing authority obligations, are subject to certain other risks. The value of these securities will be influenced by the factors affecting the housing market and the assets underlying such securities. As a result, during periods of declining asset values, difficult or frozen credit markets, significant changes in interest rates, or deteriorating economic conditions, mortgage-related and asset-backed securities may decline in value, face valuation difficulties, become more volatile and/or become illiquid. These securities are also subject to prepayment and call risk. In periods of declining interest rates, the Fund may be subject to contraction risk, which is the risk that borrowers will increase the rate at which they prepay the maturity value of mortgages and other obligations. When mortgages and other obligations are prepaid and when securities are called, the Fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. In periods of either rising or declining interest rates, the Fund may be subject to extension risk, which is the risk that the expected maturity of an obligation will lengthen in duration due to a decrease in prepayments. As a result, in certain interest rate environments, the Fund may exhibit additional volatility. Additionally, asset-backed, mortgage-related and mortgage-backed securities are subject to risks associated with their structure and the nature of the assets underlying the securities and the servicing of those assets. Certain asset-backed, mortgage-related and mortgage-backed securities may face valuation difficulties and may be less liquid than other types of asset-backed, mortgage-related and mortgage-backed securities, or debt securities.Debt Securities and Other Callable Securities Risk. As part of its main investment strategy, the Fund invests in debt securities. The issuers of these securities and other callable securities may be able to repay principal in advance, especially when interest rates fall. Changes in prepayment rates can affect the return on investment and yield of these securities. When debt obligations are prepaid and when securities are called, the Fund may have to reinvest in securities with a lower yield. The Fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss.Taxability Risk. The Fund’s investments in municipal securities rely on the opinion of the issuer’s bond counsel that the interest paid on those securities will not be subject to federal income tax. Tax opinions are generally provided at the time the municipal security is initially issued. However, after the Fund buys a security, the Internal Revenue Service may determine that a bond issued as tax-exempt should in fact be taxable and the Fund’s dividends with respect to that bond might be subject to federal income tax.High Yield Securities Risk. The Fund may invest in securities and instruments of municipal issuers that are highly leveraged, less creditworthy or financially distressed. These investments (also known as junk bonds) are considered to be speculative and are subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity.In recent years, there has been a broad trend of weaker or less restrictive covenant protections in the high yield market. Among other things, under such weaker or less restrictive covenants, borrowers might be able to exercise more flexibility with respect to certain activities than borrowers who are subject to stronger or more protective covenants. For example, borrowers might be able to incur more debt, including secured debt, return more capital to shareholders, remove or reduce assets that are designated as collateral securing high yield securities, increase the claims against assets that are permitted against collateral securing high yield securities or otherwise manage their business in ways that could impact creditors negatively. In addition, certain privately held borrowers might be permitted to file less frequent, less detailed or less timely financial reporting or other information, which could negatively impact the value of the high yield securities issued by such borrowers.Each of these factors might negatively impact the high yield instruments held by the Fund. No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. The inability to dispose of the Fund’s securities and other investments in a timely fashion could result in losses to the Fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk may be more pronounced for the Fund. When instruments are prepaid, the Fund may have to reinvest in instruments with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these instruments, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield.Zero-Coupon Bond Risk. The market value of a zero-coupon bond is generally more volatile than the market value of other fixed income securities with similar maturities that pay interest periodically. In addition, federal income tax law requires that the holder of a zero-coupon bond accrue a portion of the discount at which the bond was purchased as taxable income each year. The Fund may consequently have to dispose of portfolio securities under disadvantageous circumstances to generate cash to satisfy its requirement as a regulated investment company to distribute all of its net income (including non-cash income attributable to zero-coupon securities). These actions may reduce the assets to which the Fund’s expenses could otherwise be allocated and may reduce the Fund’s rate of return.Restricted Securities Risk. Restricted securities are securities that cannot be offered for public resale unless registered under the applicable securities laws or that have a contractual restriction that prohibits or limits their resale. Restricted securities include private placement securities that have not been registered under the applicable securities laws, such as Rule 144A securities, and securities of U.S. and non-U.S. issuers that are issued pursuant to Regulation S. Private placements are generally subject to strict restrictions on resale. Restricted securities may not be listed on an exchange and may have no active trading market. Restricted securities may be illiquid. The Fund may be unable to sell a restricted security on short notice or may be able to sell them only at a price below current value. It may be more difficult to determine a market value for a restricted security. Also, the Fund may get only limited information about the issuer of a restricted security, so it may be less able to predict a loss. In addition, if Fund management receives material non-public information about the issuer, the Fund may as a result be unable to sell the securities. Certain restricted securities may involve a high degree of business and financial risk and may result in substantial losses.Auction Rate Securities Risk. The auction rate municipal securities the Fund will purchase will typically have a long-term nominal maturity for which the interest rate is regularly reset through a “Dutch” auction. The interest rate set by the auction is the lowest interest rate that covers all securities offered for sale. While this process is designed to permit auction rate securities to be traded at par value, there is a risk that an auction will fail due to insufficient demand for the securities, which may adversely affect the liquidity and price of auction rate securities. Moreover, between auctions, there may be no secondary market for these securities, and sales conducted on a secondary market may not be on terms favorable to the seller. Thus, with respect to liquidity and price stability, auction rate securities may differ substantially from cash equivalents, notwithstanding the frequency of auctions and the credit quality of the security.Risk Associated with the Fund Holding Cash, Money Market Instruments and Other Short-Term Investments. The Fund will, at times, hold assets in cash, money market instruments and other short-term investments, which may hurt the Fund’s performance. These positions may also subject the Fund to additional risks and costs.Transactions Risk. The Fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, large purchases of Fund shares may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund’s portfolio may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes due to a number of factors, including inflation (or expectations for inflation), deflation (or expectations for deflation), interest rates, global demand for particular products or resources, market instability, debt crises and downgrades, embargoes, tariffs, sanctions and other trade barriers, regulatory events, other governmental trade or market control programs and related geopolitical events. In addition, the value of the Fund’s investments may be negatively affected by the occurrence of global events such as war, terrorism, environmental disasters, natural disasters or events, country instability, and infectious disease epidemics or pandemics.For example, the outbreak of COVID-19 has negatively affected economies, markets and individual companies throughout the world, including those in which the Fund invests. The effects of this pandemic to public health and business and market conditions, including, among other things, reduced consumer demand and economic output, supply chain disruptions and increased government spending, may continue to have a significant negative impact on the performance of the Fund’s investments, increase the Fund’s volatility, exacerbate pre-existing political, social and economic risks to the Fund, and negatively impact broad segments of businesses and populations.In addition, governments, their regulatory agencies, or self-regulatory organizations have taken or may take actions in response to the pandemic that affect the instruments in which the Fund invests, or the issuers of such instruments, in ways that could have a significant negative impact on the Fund’s investment performance. The duration and extent of COVID-19 and associated economic and market conditions and uncertainty over the long-term cannot be reasonably estimated at this time. The ultimate impact of COVID-19 and the extent to which the associated conditions impact a Fund will also depend on future developments, which are highly uncertain, difficult to accurately predict and subject to frequent changes.Industry and Sector Focus Risk. At times the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the Fund increases the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.You could lose money investing in the Fund. | ||||
Risk Lose Money [Text] | rr_RiskLoseMoney | <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:3pt;">You could lose money investing in the Fund.</span> | ||||
Risk Not Insured Depository Institution [Text] | rr_RiskNotInsuredDepositoryInstitution | <span style="color:#000000;font-family:Arial;font-size:10pt;line-height:11pt;">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.</span> | ||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">The Fund’s Past Performance</span> | ||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class I Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns over the past one year, five years and ten years. The table compares the Fund’s performance to the performance of the Bloomberg U.S. 1-5 Year Blend (1-6) Municipal Bond Index. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. | ||||
Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | <span style="font-family:Arial;font-size:10pt;">The bar chart shows how the performance of the </span><span style="font-family:Arial;font-size:10pt;">Fund’s Class I Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns over the past one year, five years and ten years.</span> | ||||
Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | <span style="font-family:Arial;font-size:10pt;font-style:italic;">1-800-480-4111</span> | ||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | <span style="font-family:Arial;font-size:10pt;font-style:italic;">www.jpmorganfunds.com</span> | ||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | <span style="font-family:Arial;font-size:10pt;">Past performance (before and after taxes) is not necessarily an </span><span style="font-family:Arial;font-size:10pt;">indication of how the Fund will perform in the future. </span> | ||||
Bar Chart [Heading] | rr_BarChartHeading | <span style="color:#FFFFFF;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0.0pt;">YEAR-BY-YEAR RETURNS - CLASS I SHARES</span> | ||||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | Best Quarter2nd quarter, 20202.05%Worst Quarter4th quarter, 2016-2.19%The Fund’s year-to-date total returnthrough3/31/22was-4.53%. | ||||
Performance Table Heading | rr_PerformanceTableHeading | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">AVERAGE ANNUAL TOTAL RETURNS</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">(For periods ended December 31, 2021)</span> | ||||
Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | <span style="color:#000000;font-family:Arial;font-size:10pt;"> After-tax </span><span style="color:#000000;font-family:Arial;font-size:10pt;">returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> | ||||
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | <span style="color:#000000;font-family:Arial;font-size:10pt;"> Actual after-tax returns depend on the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investor’s tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.</span> | ||||
Performance Table One Class of after Tax Shown [Text] | rr_PerformanceTableOneClassOfAfterTaxShown | <span style="color:#000000;font-family:Arial;font-size:10pt;">After-tax returns are shown for only the Class I Shares and after-tax returns for the other classes will vary.</span> | ||||
Performance Table Narrative | rr_PerformanceTableNarrativeTextBlock | After-tax returns are shown for only the Class I Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. | ||||
A C I Shares | JPMorgan Short-Intermediate Municipal Bond Fund | Class A | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Maximum Sales Charge (Load) Imposed on Purchases as % of the Offering Price | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | 2.25% | ||||
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares | rr_MaximumDeferredSalesChargeOverOther | none | [1] | |||
Management Fees | rr_ManagementFeesOverAssets | 0.25% | ||||
Distribution (Rule 12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.25% | ||||
Service Fees | rr_Component1OtherExpensesOverAssets | 0.25% | ||||
Remainder of Other Expenses | rr_Component2OtherExpensesOverAssets | 0.10% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 0.35% | ||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.01% | ||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.86% | ||||
Fee Waivers and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.16%) | [2] | |||
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 0.70% | [2] | |||
1 Year | rr_ExpenseExampleYear01 | $ 295 | ||||
3 Years | rr_ExpenseExampleYear03 | 478 | ||||
5 Years | rr_ExpenseExampleYear05 | 676 | ||||
10 Years | rr_ExpenseExampleYear10 | 1,247 | ||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 295 | ||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 478 | ||||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 676 | ||||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 1,247 | ||||
Past 1 Year | rr_AverageAnnualReturnYear01 | (2.50%) | ||||
Past 5 Years | rr_AverageAnnualReturnYear05 | 1.50% | ||||
Past 10 Years | rr_AverageAnnualReturnYear10 | 0.96% | ||||
A C I Shares | JPMorgan Short-Intermediate Municipal Bond Fund | Class C | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Maximum Sales Charge (Load) Imposed on Purchases as % of the Offering Price | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares | rr_MaximumDeferredSalesChargeOverOther | 1.00% | ||||
Management Fees | rr_ManagementFeesOverAssets | 0.25% | ||||
Distribution (Rule 12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.75% | ||||
Service Fees | rr_Component1OtherExpensesOverAssets | 0.25% | ||||
Remainder of Other Expenses | rr_Component2OtherExpensesOverAssets | 0.11% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 0.36% | ||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.01% | ||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.37% | ||||
Fee Waivers and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.17%) | [2] | |||
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 1.20% | [2] | |||
1 Year | rr_ExpenseExampleYear01 | $ 222 | ||||
3 Years | rr_ExpenseExampleYear03 | 417 | ||||
5 Years | rr_ExpenseExampleYear05 | 734 | ||||
10 Years | rr_ExpenseExampleYear10 | 1,492 | ||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 122 | ||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 417 | ||||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 734 | ||||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 1,492 | ||||
Past 1 Year | rr_AverageAnnualReturnYear01 | (1.78%) | ||||
Past 5 Years | rr_AverageAnnualReturnYear05 | 1.45% | ||||
Past 10 Years | rr_AverageAnnualReturnYear10 | 0.78% | ||||
A C I Shares | JPMorgan Short-Intermediate Municipal Bond Fund | Class I | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Maximum Sales Charge (Load) Imposed on Purchases as % of the Offering Price | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares | rr_MaximumDeferredSalesChargeOverOther | none | ||||
Management Fees | rr_ManagementFeesOverAssets | 0.25% | ||||
Distribution (Rule 12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | ||||
Service Fees | rr_Component1OtherExpensesOverAssets | 0.25% | ||||
Remainder of Other Expenses | rr_Component2OtherExpensesOverAssets | 0.10% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 0.35% | ||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.01% | ||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.61% | ||||
Fee Waivers and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.36%) | [2] | |||
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 0.25% | [2] | |||
1 Year | rr_ExpenseExampleYear01 | $ 26 | ||||
3 Years | rr_ExpenseExampleYear03 | 159 | ||||
5 Years | rr_ExpenseExampleYear05 | 305 | ||||
10 Years | rr_ExpenseExampleYear10 | 728 | ||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 26 | ||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 159 | ||||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 305 | ||||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 728 | ||||
2012 | rr_AnnualReturn2012 | 1.26% | ||||
2013 | rr_AnnualReturn2013 | 0.25% | ||||
2014 | rr_AnnualReturn2014 | 1.80% | ||||
2015 | rr_AnnualReturn2015 | 1.49% | ||||
2016 | rr_AnnualReturn2016 | (0.27%) | ||||
2017 | rr_AnnualReturn2017 | 2.45% | ||||
2018 | rr_AnnualReturn2018 | 1.25% | ||||
2019 | rr_AnnualReturn2019 | 4.84% | ||||
2020 | rr_AnnualReturn2020 | 3.46% | ||||
2021 | rr_AnnualReturn2021 | 0.18% | ||||
Year to Date Return, Label | rr_YearToDateReturnLabel | <span style="font-family:Arial;font-size:9pt;margin-left:0.0pt;">The Fund’s year-to-date total return</span> | ||||
Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Mar. 31, 2022 | ||||
Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | (4.53%) | ||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | <span style="color:#000000;font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0.0pt;">Best Quarter</span> | ||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Jun. 30, 2020 | ||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 2.05% | ||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | <span style="color:#000000;font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0.0pt;">Worst Quarter</span> | ||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2016 | ||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (2.19%) | ||||
Past 1 Year | rr_AverageAnnualReturnYear01 | 0.18% | ||||
Past 5 Years | rr_AverageAnnualReturnYear05 | 2.42% | ||||
Past 10 Years | rr_AverageAnnualReturnYear10 | 1.66% | ||||
A C I Shares | JPMorgan Short-Intermediate Municipal Bond Fund | Return After Taxes on Distributions | Class I | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Past 1 Year | rr_AverageAnnualReturnYear01 | 0.18% | ||||
Past 5 Years | rr_AverageAnnualReturnYear05 | 2.42% | ||||
Past 10 Years | rr_AverageAnnualReturnYear10 | 1.64% | ||||
A C I Shares | JPMorgan Short-Intermediate Municipal Bond Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class I | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Past 1 Year | rr_AverageAnnualReturnYear01 | 0.70% | ||||
Past 5 Years | rr_AverageAnnualReturnYear05 | 2.26% | ||||
Past 10 Years | rr_AverageAnnualReturnYear10 | 1.61% | ||||
A C I Shares | JPMorgan Short-Intermediate Municipal Bond Fund | BLOOMBERG U.S. 1-5 YEAR BLEND (1-6) MUNICIPAL BOND INDEX(Reflects No Deduction for Fees, Expenses, or Taxes) | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Past 1 Year | rr_AverageAnnualReturnYear01 | 0.35% | ||||
Past 5 Years | rr_AverageAnnualReturnYear05 | 2.23% | ||||
Past 10 Years | rr_AverageAnnualReturnYear10 | 1.74% | ||||
|
Label | Element | Value | ||||
---|---|---|---|---|---|---|
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Registrant Name | dei_EntityRegistrantName | JPMORGAN TRUST II | ||||
Prospectus Date | rr_ProspectusDate | Jul. 01, 2022 | ||||
A C I Shares | JPMorgan Tax Free Bond Fund | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Risk/Return [Heading] | rr_RiskReturnHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Class/Ticker: A/PMBAX; C/JTFCX; I/PRBIX</span> | ||||
Objective [Heading] | rr_ObjectiveHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">What is the goal of the Fund?</span> | ||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Fund seeks as high a level of current income exempt from federal income tax as is consistent with relative stability of principal. | ||||
Expense [Heading] | rr_ExpenseHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Fees and Expenses of the Fund</span> | ||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | The following tables describe the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and examples below. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $100,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 71 and in “Financial Intermediary — Specific Sales Charge Waivers” in Appendix A of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information. | ||||
Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">SHAREHOLDER FEES </span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">(Fees paid directly from your investment)</span> | ||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">ANNUAL FUND OPERATING EXPENSES</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">(Expenses that you pay each year as a percentage of the value</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">of your investment)</span> | ||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | <span style="font-family:Arial;font-size:8pt;">6/30/</span><span style="font-family:Arial;font-size:8pt;">23</span> | ||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Portfolio Turnover</span> | ||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 16% of the average value of its portfolio. | ||||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 16.00% | ||||
Expense Breakpoint Discounts [Text] | rr_ExpenseBreakpointDiscounts | <span style="font-family:Arial;font-size:10pt;"> You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least </span><span style="font-family:Arial;font-size:10pt;">$100,000</span><span style="font-family:Arial;font-size:10pt;"> in the J.P. Morgan Funds. </span> | ||||
Expense Breakpoint, Minimum Investment Required [Amount] | rr_ExpenseBreakpointMinimumInvestmentRequiredAmount | $ 100,000 | ||||
Expense Example [Heading] | rr_ExpenseExampleHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Example</span> | ||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 6/30/23 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. | ||||
Expense Example by, Year, Caption [Text] | rr_ExpenseExampleByYearCaption | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">IF YOU SELL YOUR SHARES, YOUR COST WOULD BE:</span> | ||||
Expense Example, No Redemption, By Year, Caption [Text] | rr_ExpenseExampleNoRedemptionByYearCaption | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">IF YOU DO NOT SELL YOUR SHARES, YOUR COST</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">WOULD BE:</span> | ||||
Strategy [Heading] | rr_StrategyHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">What are the Fund’s main investment strategies?</span> | ||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | Under normal circumstances, the Fund invests at least 80% of its net Assets in municipal bonds, the income from which is exempt from federal income tax. This is a fundamental policy. For purposes of this policy, “Assets” means net assets, plus the amount of borrowings for investment purposes.Municipal bonds are debt securities with maturities of 90 days or more at the time of issuance issued by states, territories and possessions of the United States, including the District of Columbia, and their respective authorities, political subdivisions, agencies and instrumentalities, the interest on which is exempt from federal income tax. The securities are issued to raise funds for various public and private purposes. Municipal bonds include private activity and industrial development bonds, tax anticipation notes and participations in pools of municipal securities.Up to 20% of the Fund’s assets may be invested in municipal bonds, the interest on which may be subject to the federal alternative minimum tax for individuals.The securities in which the Fund invests may have fixed rates of return or floating or variable rates. Up to 20% of the Fund’s assets may be held in cash and cash equivalents. The Fund may invest in securities without regard to maturity.The Fund may invest in municipal mortgage-backed and asset-backed securities. The Fund may invest a significant portion or all of its assets in municipal mortgage-backed securities at the adviser’s discretion.The Fund may invest up to 20% of its total assets in securities rated below investment grade. Such securities are known as “junk bonds,” “high yield bonds” and “non-investment grade bonds.” Junk bonds also include unrated securities that the adviser believes to be of comparable quality to debt securities that are rated below investment grade. These securities generally are rated in the fifth or lower rating categories (for example, BB+ or lower by S&P and Ba1 or lower by Moody’s). These securities generally offer a higher yield than investment grade securities, but involve a high degree of risk. A security’s quality is determined at the time of purchase and securities that are rated investment grade or the unrated equivalent may be downgraded or decline in credit quality, such that, following the time of purchase, they would be deemed to be below investment grade. If the quality of an investment grade security is downgraded subsequent to purchase to below investment grade, the Fund may continue to hold the security.The Fund may also invest in zero-coupon securities.Investment Process: 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 and the complex legal and technical structure of the transaction. As part of its investment process, the adviser seeks to assess the impact ofenvironmental, social and governance factors on certain 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 sectors to identify financially material issues on the Fund’s investments in municipal issues and ascertain key issues that merit engagement with municipal issuers. These assessments may not be conclusive and securities 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 that may be positively impacted by such factors. | ||||
Risk [Heading] | rr_RiskHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">The Fund’s Main Investment Risks</span> | ||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The Fund is subject to management risk and may not achieve its objective if the adviser’s expectations regarding particular instruments or markets are not met.An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.Interest Rate Risk. The Fund mainly invests in bonds and other debt securities. These securities will increase or decrease in value based on changes in interest rates. If rates increase, the value of the Fund’s investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. The Fund may face a heightened level of interest rate risk due to certain changes in monetary policy. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also may be low or the Fund may be unable to maintain positive returns.Municipal Obligations Risk. The risk of a municipal obligation generally depends on the financial and credit status of the issuer. Changes in the financial health of a municipal issuer may make it difficult for the issuer to make interest and principal payments when due. This could decrease the Fund’s income or hurt the ability to preserve capital and liquidity.Under some circumstances, municipal obligations might not pay interest unless the state legislature or municipality authorizes money for that purpose.Municipal obligations may be more susceptible to downgrades or defaults during recessions or similar periods of economic stress. In addition, since some municipal obligations may be secured or guaranteed by banks and other institutions, the risk to the Fund could increase if the banking or financial sector suffers an economic downturn and/or if the credit ratings of the institutions issuing the guarantee are downgraded or at risk of being downgraded by a national rating organization. Such a downward revision or risk of being downgraded may have an adverse effect on the market prices of the bonds and thus the value of the Fund’s investments.In addition to being downgraded, an insolvent municipality may file for bankruptcy. The reorganization of a municipality’s debts may significantly affect the rights of creditors and the value of the securities issued by the municipality and the value of the Fund’s investments.Credit Risk. The Fund’s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. If an issuer’s or a counterparty’s financial condition worsens, the credit quality of the issuer or counterparty may deteriorate. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.Alternative Minimum Tax Risk. The Fund may invest in securities, the interest on which may be subject to the federal alternative minimum tax.Mortgage-Related and Other Asset-Backed Securities Risk. Mortgage-related and asset-backed securities, including certain municipal housing authority obligations, are subject to certain other risks. The value of these securities will be influenced by the factors affecting the housing market and the assets underlying such securities. As a result, during periods of declining asset values, difficult or frozen credit markets, significant changes in interest rates, or deteriorating economic conditions, mortgage-related and asset-backed securities may decline in value, face valuation difficulties, become more volatile and/or become illiquid. These securities are also subject to prepayment and call risk. In periods of declining interest rates, the Fund may be subject to contraction risk which is the risk that borrowers will increase the rate at which they prepay the maturity value of mortgages and other obligations. When mortgages and other obligations are prepaid and when securities are called, the Fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. In periods of either rising or declining interest rates, the Fund may be subject to extension risk which is the risk that the expected maturity of an obligation will lengthen in duration due to a decrease in prepayments. As a result, in certain interest rate environments, the Fund may exhibit additional volatility. Additionally, asset-backed, mortgage-related and mortgage-backed securities are subject to risks associated with their structure and the nature of the assets underlying the securities and the servicing of those assets. Certain asset-backed, mortgage-related and mortgage-backed securities may face valuation difficulties and may be less liquid than other types of asset-backed, mortgage-related and mortgage-backed securities, or debt securities.Debt Securities and Other Callable Securities Risk. As part of its main investment strategy, the Fund invests in debt securities. The issuers of these securities and other callable securities may be able to repay principal in advance, especially when interest rates fall. Changes in prepayment rates can affect the return on investment and yield of these securities. When debt obligations are prepaid and when securities are called, the Fund may have to reinvest in securities with a lower yield. The Fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss.Taxability Risk. The Fund’s investments in municipal securities rely on the opinion of the issuer’s bond counsel that the interest paid on those securities will not be subject to federal income tax. Tax opinions are generally provided at the time the municipal security is initially issued. However, after the Fund buys a security, the Internal Revenue Service may determine that a bond issued as tax-exempt should in fact be taxable and the Fund’s dividends with respect to that bond might be subject to federal income tax.High Yield Securities Risk. The Fund may invest in securities and instruments of muncipal issuers that are highly leveraged, less creditworthy or financially distressed. These investments (also known as junk bonds) are considered to be speculative and are subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity.In recent years, there has been a broad trend of weaker or less restrictive covenant protections in the high yield market. Among other things, under such weaker or less restrictive covenants, borrowers might be able to exercise more flexibility with respect to certain activities than borrowers who are subject to stronger or more protective covenants. For example, borrowers might be able to incur more debt, including secured debt, return more capital to shareholders, remove or reduce assets that are designated as collateral securing high yield securities, increase the claims against assets that are permitted against collateral securing high yield securities or otherwise manage their business in ways that could impact creditors negatively. In addition, certain privately held borrowers might be permitted to file less frequent, less detailed or less timely financial reporting or other information, which could negatively impact the value of the high yield securities issued by such borrowers.Each of these factors might negatively impact the high yield instruments held by the Fund. No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. The inability to dispose of the Fund’s securities and other investments in a timely fashion could result in losses to the Fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk may be more pronounced for the Fund. When instruments are prepaid, the Fund may have to reinvest in instruments with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these instruments, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield.Zero-Coupon Bond Risk. The market value of a zero-coupon bond is generally more volatile than the market value of other fixed income securities with similar maturities that pay interest periodically. In addition, federal income tax law requires that the holder of a zero-coupon bond accrue a portion of the discount at which the bond was purchased as taxable income each year. The Fund may consequently have to dispose of portfolio securities under disadvantageous circumstances to generate cash to satisfy its requirement as a regulated investment company to distribute all of its net income (including non-cash income attributable to zero-coupon securities). These actions may reduce the assets to which the Fund’s expenses could otherwise be allocated and may reduce the Fund’s rate of return.Risk Associated with the Fund Holding Cash, Money Market Instruments and Other Short-Term Investments. The Fund will, at times, hold assets in cash, money market instruments and other short-term investments, which may hurt the Fund’s performance. These positions may also subject the Fund to additional risks and costs.Transactions Risk. The Fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, large purchases of Fund shares may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund’s portfolio may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes due to a number of factors, including inflation (or expectations for inflation), deflation (or expectations for deflation), interest rates, global demand for particular products or resources, market instability, debt crises and downgrades, embargoes, tariffs, sanctions and other trade barriers, regulatory events, other governmental trade or market control programs and related geopolitical events. In addition, the value of the Fund’s investments may be negatively affected by the occurrence of global events such as war, terrorism, environmental disasters, natural disasters or events, country instability, and infectious disease epidemics or pandemics.For example, the outbreak of COVID-19 has negatively affected economies, markets and individual companies throughout the world, including those in which the Fund invests. The effects of this pandemic to public health and business and market conditions, including, among other things, reduced consumer demand and economic output, supply chain disruptions and increased government spending, may continue to have a significant negative impact on the performance of the Fund’s investments, increase the Fund’s volatility, exacerbate pre-existing political, social and economic risks to the Fund, and negatively impact broad segments of businesses and populations.In addition, governments, their regulatory agencies, or self-regulatory organizations have taken or may take actions in response to the pandemic that affect the instruments in which the Fund invests, or the issuers of such instruments, in ways that could have a significant negative impact on the Fund’s investment performance. The duration and extent of COVID-19 and associated economic and market conditions and uncertainty over the long-term cannot be reasonably estimated at this time. The ultimate impact of COVID-19 and the extent to which the associated conditions impact a Fund will also depend on future developments, which are highly uncertain, difficult to accurately predict and subject to frequent changes.Industry and Sector Focus Risk. At times the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the Fund increases the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.You could lose money investing in the Fund. | ||||
Risk Lose Money [Text] | rr_RiskLoseMoney | <span style="font-family:Arial;font-size:10pt;margin-left:3pt;">You could lose money investing in the Fund.</span> | ||||
Risk Not Insured Depository Institution [Text] | rr_RiskNotInsuredDepositoryInstitution | <span style="color:#000000;font-family:Arial;font-size:10pt;line-height:11pt;">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.</span> | ||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | <span style="font-family:Arial;font-size:11pt;font-weight:bold;">The Fund’s Past Performance</span> | ||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class I Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns over the past one year, five years and ten years. The table compares the Fund’s performance to the performance of the Bloomberg US Municipal Index. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. | ||||
Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | <span style="font-family:Arial;font-size:10pt;">The bar chart shows how the performance of the </span><span style="font-family:Arial;font-size:10pt;">Fund’s Class I Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns over the past one year, five years and ten years.</span> | ||||
Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | <span style="font-family:Arial;font-size:10pt;font-style:italic;">1-800-480-4111</span> | ||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | <span style="font-family:Arial;font-size:10pt;font-style:italic;">www.jpmorganfunds.com</span> | ||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | <span style="font-family:Arial;font-size:10pt;">Past performance (before </span><span style="font-family:Arial;font-size:10pt;">and after taxes) is not necessarily an indication of how the Fund will perform in the future. </span> | ||||
Bar Chart [Heading] | rr_BarChartHeading | <span style="color:#FFFFFF;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0.0pt;">YEAR-BY-YEAR RETURNS - CLASS I SHARES</span> | ||||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | Best Quarter1st quarter, 20143.86%Worst Quarter4th quarter, 2016-3.88%The Fund’s year-to-date total returnthrough3/31/22was-7.05%. | ||||
Performance Table Heading | rr_PerformanceTableHeading | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">AVERAGE ANNUAL TOTAL RETURNS</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">(For periods ended December 31, 2021)</span> | ||||
Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | <span style="color:#000000;font-family:Arial;font-size:10pt;"> After-tax </span><span style="color:#000000;font-family:Arial;font-size:10pt;">returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> | ||||
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | <span style="color:#000000;font-family:Arial;font-size:10pt;"> Actual after-tax returns depend on the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investor’s tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.</span> | ||||
Performance Table One Class of after Tax Shown [Text] | rr_PerformanceTableOneClassOfAfterTaxShown | <span style="color:#000000;font-family:Arial;font-size:10pt;">After-tax returns are shown for only the Class I Shares and after-tax returns for the other classes will vary.</span> | ||||
Performance Table Narrative | rr_PerformanceTableNarrativeTextBlock | After-tax returns are shown for only the Class I Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. | ||||
A C I Shares | JPMorgan Tax Free Bond Fund | Class A | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Maximum Sales Charge (Load) Imposed on Purchases as % of the Offering Price | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | 3.75% | ||||
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares | rr_MaximumDeferredSalesChargeOverOther | none | [1] | |||
Management Fees | rr_ManagementFeesOverAssets | 0.30% | ||||
Distribution (Rule 12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.25% | ||||
Service Fees | rr_Component1OtherExpensesOverAssets | 0.25% | ||||
Remainder of Other Expenses | rr_Component2OtherExpensesOverAssets | 0.14% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 0.39% | ||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.94% | ||||
Fee Waivers and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.27%) | [2] | |||
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 0.67% | [2] | |||
1 Year | rr_ExpenseExampleYear01 | $ 441 | ||||
3 Years | rr_ExpenseExampleYear03 | 637 | ||||
5 Years | rr_ExpenseExampleYear05 | 850 | ||||
10 Years | rr_ExpenseExampleYear10 | 1,463 | ||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 441 | ||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 637 | ||||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 850 | ||||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 1,463 | ||||
Past 1 Year | rr_AverageAnnualReturnYear01 | (1.45%) | ||||
Past 5 Years | rr_AverageAnnualReturnYear05 | 3.30% | ||||
Past 10 Years | rr_AverageAnnualReturnYear10 | 3.31% | ||||
A C I Shares | JPMorgan Tax Free Bond Fund | Class C | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Maximum Sales Charge (Load) Imposed on Purchases as % of the Offering Price | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares | rr_MaximumDeferredSalesChargeOverOther | 1.00% | ||||
Management Fees | rr_ManagementFeesOverAssets | 0.30% | ||||
Distribution (Rule 12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.75% | ||||
Service Fees | rr_Component1OtherExpensesOverAssets | 0.25% | ||||
Remainder of Other Expenses | rr_Component2OtherExpensesOverAssets | 0.14% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 0.39% | ||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.44% | ||||
Fee Waivers and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.19%) | [2] | |||
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 1.25% | [2] | |||
1 Year | rr_ExpenseExampleYear01 | $ 227 | ||||
3 Years | rr_ExpenseExampleYear03 | 437 | ||||
5 Years | rr_ExpenseExampleYear05 | 769 | ||||
10 Years | rr_ExpenseExampleYear10 | 1,572 | ||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 127 | ||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 437 | ||||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 769 | ||||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 1,572 | ||||
Past 1 Year | rr_AverageAnnualReturnYear01 | 0.79% | ||||
Past 5 Years | rr_AverageAnnualReturnYear05 | 3.48% | ||||
Past 10 Years | rr_AverageAnnualReturnYear10 | 3.17% | ||||
A C I Shares | JPMorgan Tax Free Bond Fund | Class I | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Maximum Sales Charge (Load) Imposed on Purchases as % of the Offering Price | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares | rr_MaximumDeferredSalesChargeOverOther | none | ||||
Management Fees | rr_ManagementFeesOverAssets | 0.30% | ||||
Distribution (Rule 12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | ||||
Service Fees | rr_Component1OtherExpensesOverAssets | 0.25% | ||||
Remainder of Other Expenses | rr_Component2OtherExpensesOverAssets | 0.14% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 0.39% | ||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.69% | ||||
Fee Waivers and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.24%) | [2] | |||
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 0.45% | [2] | |||
1 Year | rr_ExpenseExampleYear01 | $ 46 | ||||
3 Years | rr_ExpenseExampleYear03 | 197 | ||||
5 Years | rr_ExpenseExampleYear05 | 360 | ||||
10 Years | rr_ExpenseExampleYear10 | 836 | ||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 46 | ||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 197 | ||||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 360 | ||||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 836 | ||||
2012 | rr_AnnualReturn2012 | 6.59% | ||||
2013 | rr_AnnualReturn2013 | (2.33%) | ||||
2014 | rr_AnnualReturn2014 | 10.08% | ||||
2015 | rr_AnnualReturn2015 | 3.25% | ||||
2016 | rr_AnnualReturn2016 | 0.45% | ||||
2017 | rr_AnnualReturn2017 | 5.04% | ||||
2018 | rr_AnnualReturn2018 | 0.68% | ||||
2019 | rr_AnnualReturn2019 | 7.70% | ||||
2020 | rr_AnnualReturn2020 | 5.71% | ||||
2021 | rr_AnnualReturn2021 | 2.52% | ||||
Year to Date Return, Label | rr_YearToDateReturnLabel | <span style="font-family:Arial;font-size:9pt;margin-left:0.0pt;">The Fund’s year-to-date total return</span> | ||||
Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Mar. 31, 2022 | ||||
Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | (7.05%) | ||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | <span style="color:#000000;font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0.0pt;">Best Quarter</span> | ||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Mar. 31, 2014 | ||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 3.86% | ||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | <span style="color:#000000;font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0.0pt;">Worst Quarter</span> | ||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2016 | ||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (3.88%) | ||||
Past 1 Year | rr_AverageAnnualReturnYear01 | 2.52% | ||||
Past 5 Years | rr_AverageAnnualReturnYear05 | 4.30% | ||||
Past 10 Years | rr_AverageAnnualReturnYear10 | 3.91% | ||||
A C I Shares | JPMorgan Tax Free Bond Fund | Return After Taxes on Distributions | Class I | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Past 1 Year | rr_AverageAnnualReturnYear01 | 2.52% | ||||
Past 5 Years | rr_AverageAnnualReturnYear05 | 4.30% | ||||
Past 10 Years | rr_AverageAnnualReturnYear10 | 3.77% | ||||
A C I Shares | JPMorgan Tax Free Bond Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class I | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Past 1 Year | rr_AverageAnnualReturnYear01 | 2.46% | ||||
Past 5 Years | rr_AverageAnnualReturnYear05 | 4.01% | ||||
Past 10 Years | rr_AverageAnnualReturnYear10 | 3.74% | ||||
A C I Shares | JPMorgan Tax Free Bond Fund | BLOOMBERG US MUNICIPAL INDEX(Reflects No Deduction for Fees, Expenses, or Taxes) | ||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||
Past 1 Year | rr_AverageAnnualReturnYear01 | 1.52% | ||||
Past 5 Years | rr_AverageAnnualReturnYear05 | 4.17% | ||||
Past 10 Years | rr_AverageAnnualReturnYear10 | 3.72% | ||||
|
Label | Element | Value | ||
---|---|---|---|---|
Risk Return Abstract | rr_RiskReturnAbstract | |||
Registrant Name | dei_EntityRegistrantName | JPMORGAN TRUST II | ||
Prospectus Date | rr_ProspectusDate | Jul. 01, 2022 | ||
R6 Shares | JPMorgan Sustainable Municipal Income Fund | ||||
Risk Return Abstract | rr_RiskReturnAbstract | |||
Risk/Return [Heading] | rr_RiskReturnHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Class/Ticker: R6/RUNFX</span> | ||
Objective [Heading] | rr_ObjectiveHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">What is the goal of the Fund?</span> | ||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Fund seeks current income exempt from federal income taxes. | ||
Expense [Heading] | rr_ExpenseHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Fees and Expenses of the Fund</span> | ||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | The following tables describe the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and examples below. | ||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">ANNUAL FUND OPERATING EXPENSES</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">(Expenses that you pay each year as a percentage of the value</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">of your investment)</span> | ||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | <span style="font-family:Arial;font-size:8pt;">6/30/</span><span style="font-family:Arial;font-size:8pt;">23</span> | ||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Portfolio Turnover</span> | ||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 18% of the average value of its portfolio. | ||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 18.00% | ||
Expense Example [Heading] | rr_ExpenseExampleHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Example</span> | ||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 6/30/23 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. | ||
Expense Example by, Year, Caption [Text] | rr_ExpenseExampleByYearCaption | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">WOULD BE:</span> | ||
Expense Example, No Redemption, By Year, Caption [Text] | rr_ExpenseExampleNoRedemptionByYearCaption | WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: | ||
Strategy [Heading] | rr_StrategyHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">What are the Fund’s main investment strategies?</span> | ||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund invests in a portfolio of municipal bonds, including municipal mortgage-backed and asset-backed securities. While current income is the Fund’s primary focus, it seeks to produce income in a manner consistent with the preservation of principal.Under normal circumstances, the Fund invests at least 80% of its Assets in municipal bonds, the income from which is exempt from federal income tax. This is a fundamental policy. For the purposes of this policy, “Assets” means net assets, plus the amount of borrowings for investment purposes. The Fund also invests in municipal mortgage-backed and asset-backed securities, as well as restricted securities. The Fund may invest a significant portion or all of its assets in municipal mortgage-backed securities at the adviser’s discretion. The securities in which the Fund invests may have fixed rates of return or floating or variable rates.Municipal bonds are debt securities with maturities of 90 days or more at the time of issuance issued by states, territories and possessions of the United States, including the District of Columbia, and their respective authorities, political subdivisions, agencies and instrumentalities, the interest on which is exempt from federal income tax. The securities are issued to raise funds for various public and private purposes. Municipal bonds include private activity and industrial development bonds, tax anticipation notes and participations in pools of municipal securities.Up to 100% of the Fund’s assets may be invested in municipal bonds, the interest on which may be subject to the federal alternative minimum tax for individuals.The Fund may invest up to 20% of its total assets in securities rated below investment grade. Such securities are known as “junk bonds,” “high yield bonds” and “non-investment grade bonds.” Junk bonds also include unrated securities that the adviser believes to be of comparable quality to debt securities that are rated below investment grade. These securities generally are rated in the fifth or lower rating categories (for example, BB+ or lower by S&P and Ba1 or lower by Moody’s). These securities generally offer a higher yield than investment grade securities, but involve a high degree of risk. A security’s quality is determined at the time of purchase and securities that are rated investment grade or the unrated equivalent may be downgraded or decline in credit quality, such that, following the time of purchase, they would be deemed to be below investment grade. If the quality of an investment grade security is downgraded subsequent to purchase to below investment grade, the Fund may continue to hold the security.As a matter of fundamental policy, the Fund will not invest more than 25% of its total assets: (i) in securities within a single industry; or (ii) in securities of governmental units or issuers in the same state, territory or possession. However, from time to time, the Fund will invest more than 25% of its total assets in municipal housing authority obligations.The Fund’s average weighted maturity will range from three to 15 years, although the Fund may shorten its average weighted maturity to as little as two years if appropriate for temporary defensive purposes. Average weighted maturity is the average of all the current maturities (that is, the term of the securities) of the individual bonds in a Fund calculated so as to count most heavily those securities with the highest dollar value. Average weighted maturity is important to investors as an indication of a Fund’s sensitivity to changes in interest rates. Usually, the longer the average weighted maturity, the more fluctuation in share price you can expect.“Sustainable” in the Fund’s name refers to the Fund’s strategy to tilt the Fund’s portfolio based on social or environmental benefits as part of its investment strategy. Under normal circumstances, the Fund invests the majority of its assets in securities whose use of proceeds, in the adviser’s opinion, provide positive social or environmental benefits. In order to identify and invest in bonds that provide positive social or environmental benefits, the adviser determines and assesses each bond’s intended use of proceeds. The adviser will generally view bonds that finance affordable housing, healthcare, municipal water and sewer, education, mass transit, not for profits and issuer designated green bonds as promoting positive social or environmental benefits. In addition to the uses of proceeds noted above, the adviser may identify additional uses of bond proceeds that it believes will provide positive social or environmental benefits and may invest in such bonds as part of the Fund’s investment strategy. The use of proceeds determination for securities purchased by the Fund will be made at the time of purchase. If the use of proceeds of a security changes after the time of purchase so as to no longer provide positive social and/or environmental benefits, the Fund may continue to hold the security.The Fund may also invest in zero-coupon securities.Investment Process: 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 majority of which will provide positive social or environmental benefits. The adviser is value oriented and makes investment decisions after performing a risk/reward analysis that includes an evaluation of interest rate risk, credit risk, duration, liquidity, any security pledge, and a review of the security’s attributes such as the coupon, maturity and any redemption and tender provisions. The adviser’s risk/reward analysis along with its use of proceeds assessment allows the adviser to collectively evaluate those criteria when selecting securities for purchase.The adviser utilizes a proprietary framework to monitor the portfolio’s overall investment in bonds that have been designated as providing positive social or environmental benefits. Through the framework, the adviser assesses characteristics of bond issuances and their proceeds using third party data and/or internal research. The proprietary framework, as well as the adviser’s views on municipal bond use of proceeds, are periodically reviewed internally.Generally, the adviser determines whether or not to sell a security by looking at a number of factors such as the security’s attributes (e.g., coupon, maturity and redemption/tender provisions), liquidity, relative value and the credit quality of the security. The adviser also factors in the overall investment strategy of the Fund, including its positioning relative to the benchmark, its duration and its credit strategy, as well as the adviser’s interest rate outlook. | ||
Risk [Heading] | rr_RiskHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">The Fund’s Main Investment Risks</span> | ||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The Fund is subject to management risk and may not achieve its objective if the adviser’s expectations regarding particular instruments or markets are not met.An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.Interest Rate Risk. The Fund mainly invests in bonds and other debt securities. These securities will increase or decrease in value based on changes in interest rates. If rates increase, the value of the Fund’s investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. The Fund may face a heightened level of interest rate risk due to certain changes in monetary policy. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also may be low or the Fund may be unable to maintain positive returns.Municipal Obligations Risk. The risk of a municipal obligation generally depends on the financial and credit status of the issuer. Changes in the financial health of a municipal issuer may make it difficult for the issuer to make interest and principal payments when due. This could decrease the Fund’s income or hurt the ability to preserve capital and liquidity.Under some circumstances, municipal obligations might not pay interest unless the state legislature or municipality authorizes money for that purpose.Municipal obligations may be more susceptible to downgrades or defaults during recessions or similar periods of economic stress. In addition, since some municipal obligations may be secured or guaranteed by banks and other institutions, the risk to the Fund could increase if the banking or financial sector suffers an economic downturn and/or if the credit ratings of the institutions issuing the guarantee are downgraded or at risk of being downgraded by a national rating organization. Such a downward revision or risk of being downgraded may have an adverse effect on the market prices of the bonds and thus the value of the Fund’s investments.In addition to being downgraded, an insolvent municipality may file for bankruptcy. The reorganization of a municipality’s debts may significantly affect the rights of creditors and the value of the securities issued by the municipality and the value of the Fund’s investments.Social or Environmental Investing Risk. The Fund’s investment in securities whose use of proceeds, in the adviser’s opinion, provide positive social or environmental benefits could cause it to perform differently compared to funds that do not have such a policy. Investing in securities whose use of proceeds, in the adviser’s opinion, provide positive social or environmental benefits may result in the Fund forgoing opportunities to buy certain securities when it might otherwise be advantageous to do so, or selling securities when it might be otherwise disadvantageous for it to do so. In addition, there is a risk that the municipal bonds identified by the adviser’s use of proceeds determination do not operate as expected when addressing positive social or environmental benefits. The adviser’s assessment of the positive social or environmental impact of a municipal bond’s proceeds is made at the time of purchase and the actual use of proceeds by the issuer could vary over time, which could cause the Fund to be invested in bonds that do not comply with the Fund’s approach towards considering social or environmental characteristics. The factors that the adviser considers in evaluating whether a security has positive social or environmental benefits may change over time. There are significant differences in interpretations of what it means to promote positive social or environmental benefits. While the adviser believes its definitions are reasonable, the portfolio decisions it makes may differ with other’s views. In making investment decisions, the adviser relies on information and third-party data that could be incomplete or erroneous, which could cause the adviser to incorrectly assess a municipal bond’s positive social or environmental impact.Municipal Housing Authority Obligations Risk. The Fund may invest more than 25% of its total assets in municipal housing authority obligations. As a result, the Fund could be more susceptible to developments which affect those obligations.Mortgage-Related and Other Asset-Backed Securities Risk.Mortgage-related and asset-backed securities, including certain municipal housing authority obligations, are subject to certain other risks. The value of these securities will be influenced by the factors affecting the housing market and the assets underlying such securities. As a result, during periods of declining asset values, difficult or frozen credit markets, significant changes in interest rates, or deteriorating economic conditions, mortgage-related and asset-backed securities may decline in value, face valuation difficulties, become more volatile and/or become illiquid. These securities are also subject to prepayment and call risk. In periods of declining interest rates, the Fund may be subject to contraction risk, which is the risk that borrowers will increase the rate at which they prepay the maturity value of mortgages and other obligations. When mortgages and other obligations are prepaid and when securities are called, the Fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. In periods of either rising or declining interest rates, the Fund may be subject to extension risk, which is the risk that the expected maturity of an obligation will lengthen in duration due to a decrease in prepayments. As a result, in certain interest rate environments, the Fund may exhibit additional volatility. Additionally, asset-backed, mortgage-related and mortgage-backed securities are subject to risks associated with their structure and the nature of the assets underlying the securities and the servicing of those assets. Certain asset-backed, mortgage-related and mortgage-backed securities may face valuation difficulties and may be less liquid than other types of asset-backed, mortgage-related and mortgage-backed securities, or debt securities.Debt Securities and Other Callable Securities Risk. As part of its main investment strategy, the Fund invests in debt securities. The issuers of these securities and other callable securities may be able to repay principal in advance, especially when interest rates fall. Changes in prepayment rates can affect the return on investment and yield of these securities. When debt obligations are prepaid and when securities are called, the Fund may have to reinvest in securities with a lower yield. The Fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss.Credit Risk. The Fund’s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. If an issuer’s or a counterparty’s financial condition worsens, the credit quality of the issuer or counterparty may deteriorate. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.Alternative Minimum Tax Risk. The Fund may invest in securities, the interest on which may be subject to the federal alternative minimum tax.Taxability Risk. The Fund’s investments in municipal securities rely on the opinion of the issuer’s bond counsel that the interest paid on those securities will not be subject to federal income tax. Tax opinions are generally provided at the time the municipal security is initially issued. However, after the Fund buys a security, the Internal Revenue Service may determine that a bond issued as tax-exempt should in fact be taxable and the Fund’s dividends with respect to that bond might be subject to federal income tax.High Yield Securities Risk. The Fund may invest in securities and instruments of municipal issuers that are highly leveraged, less creditworthy or financially distressed. These investments (also known as junk bonds) are considered to be speculative and are subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity.In recent years, there has been a broad trend of weaker or less restrictive covenant protections in the high yield market. Among other things, under such weaker or less restrictive covenants, borrowers might be able to exercise more flexibility with respect to certain activities than borrowers who are subject to stronger or more protective covenants. For example, borrowers might be able to incur more debt, including secured debt, return more capital to shareholders, remove or reduce assets that are designated as collateral securing high yield securities, increase the claims against assets that are permitted against collateral securing high yield securities or otherwise manage their business in ways that could impact creditors negatively. In addition, certain privately held borrowers might be permitted to file less frequent, less detailed or less timely financial reporting or other information, which could negatively impact the value of the high yield securities issued by such borrowers. Each of these factors might negatively impact the high yield instruments held by the Fund.No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. The inability to dispose of the Fund’s securities and other investments in a timely fashion could result in losses to the Fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk may be more pronounced for the Fund. When instruments are prepaid, the Fund may have to reinvest in instruments with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these instruments, resulting in an unexpected capital loss and/ or a decrease in the amount of dividends and yield.Zero-Coupon Bond Risk. The market value of a zero-coupon bond is generally more volatile than the market value of other fixed income securities with similar maturities that pay interest periodically. In addition, federal income tax law requires that the holder of a zero-coupon bond accrue a portion of the discount at which the bond was purchased as taxable income each year. The Fund may consequently have to dispose of portfolio securities under disadvantageous circumstances to generate cash to satisfy its requirement as a regulated investment company to distribute all of its net income (including non-cash income attributable to zero-coupon securities). These actions may reduce the assets to which the Fund’s expenses could otherwise be allocated and may reduce the Fund’s rate of return.Restricted Securities Risk. Restricted securities are securities that cannot be offered for public resale unless registered under the applicable securities laws or that have a contractual restriction that prohibits or limits their resale. Restricted securities include private placement securities that have not been registered under the applicable securities laws, such as Rule 144A securities, and securities of U.S. and non-U.S. issuers that are issued pursuant to Regulation S. Private placements are generally subject to strict restrictions on resale. Restricted securities may not be listed on an exchange and may have no active trading market. Restricted securities may be illiquid. The Fund may be unable to sell a restricted security on short notice or may be able to sell them only at a price below current value. It may be more difficult to determine a market value for a restricted security. Also, the Fund may get only limited information about the issuer of a restricted security, so it may be less able to predict a loss. In addition, if Fund management receives material non-public information about the issuer, the Fund may as a result be unable to sell the securities. Certain restricted securities may involve a high degree of business and financial risk and may result in substantial losses.Transactions Risk. The Fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, large purchases of Fund shares may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund’s portfolio may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes due to a number of factors, including inflation (or expectations for inflation), deflation (or expectations for deflation), interest rates, global demand for particular products or resources, market instability, debt crises and downgrades, embargoes, tariffs, sanctions and other trade barriers, regulatory events, other governmental trade or market control programs and related geopolitical events. In addition, the value of the Fund’s investments may be negatively affected by the occurrence of global events such as war, terrorism, environmental disasters, natural disasters or events, country instability, and infectious disease epidemics or pandemics.For example, the outbreak of COVID-19 has negatively affected economies, markets and individual companies throughout the world, including those in which the Fund invests. The effects of this pandemic to public health and business and market conditions, including, among other things, reduced consumer demand and economic output, supply chain disruptions and increased government spending, may continue to have a significant negative impact on the performance of the Fund’s investments, increase the Fund’s volatility, exacerbate pre-existing political, social and economic risks to the Fund, and negatively impact broad segments of businesses and populations.In addition, governments, their regulatory agencies, or self-regulatory organizations have taken or may take actions in response to the pandemic that affect the instruments in which the Fund invests, or the issuers of such instruments, in ways that could have a significant negative impact on the Fund’s investment performance. The duration and extent of COVID-19 and associated economic and market conditions and uncertainty over the long-term cannot be reasonably estimated at this time. The ultimate impact of COVID-19 and the extent to which the associated conditions impact a Fund will also depend on future developments, which are highly uncertain, difficult to accurately predict and subject to frequent changes.Industry and Sector Focus Risk. At times the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the Fund increases the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.You could lose money investing in the Fund. | ||
Risk Lose Money [Text] | rr_RiskLoseMoney | <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:3pt;">You could lose money investing in the Fund.</span> | ||
Risk Not Insured Depository Institution [Text] | rr_RiskNotInsuredDepositoryInstitution | <span style="color:#000000;font-family:Arial;font-size:10pt;line-height:11pt;">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.</span> | ||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">The Fund’s Past Performance</span> | ||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | This section provides some indication of the risks of investing with the Fund. The bar chart shows how the performance of the Fund’s Class R6 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns over the past one year, five years and ten years. The table compares the Fund’s performance to the performance of the Bloomberg U.S. 1-15 Year Blend (1-17) Municipal Bond Index. The performance of the Class R6 Shares prior to their inception are based on Class I Shares (which are not offered in this prospectus). The actual returns of the Class R6 Shares would be substantially similar to the performance of Class I Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the Classes do not have the same expenses. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. | ||
Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | <span style="font-family:Arial;font-size:10pt;">The bar chart shows how the performance of the </span><span style="font-family:Arial;font-size:10pt;">Fund’s Class R6 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns over the past one year, five years and ten years.</span> | ||
Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | <span style="font-family:Arial;font-size:10pt;font-style:italic;">1-800-480-4111</span> | ||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | <span style="font-family:Arial;font-size:10pt;font-style:italic;">www.jpmorganfunds.com</span> | ||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | <span style="font-family:Arial;font-size:10pt;">Past performance </span><span style="font-family:Arial;font-size:10pt;">(before and after taxes) is not necessarily an indication of how the Fund will perform in the future. </span> | ||
Bar Chart [Heading] | rr_BarChartHeading | <span style="color:#FFFFFF;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0.0pt;">YEAR-BY-YEAR RETURNS — CLASS R6 SHARES</span> | ||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | Best Quarter1st quarter, 20192.35%Worst Quarter4th quarter, 2016-3.14%The Fund’s year-to-date total returnthrough3/31/22was-5.74%. | ||
Performance Table Heading | rr_PerformanceTableHeading | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">AVERAGE ANNUAL TOTAL RETURNS</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">(For periods ended December 31, 2021)</span> | ||
Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | <span style="color:#000000;font-family:Arial;font-size:10pt;">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> | ||
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | <span style="color:#000000;font-family:Arial;font-size:10pt;"> Actual after-tax returns </span><span style="color:#000000;font-family:Arial;font-size:10pt;">depend on the investor’s tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.</span> | ||
Performance Table Narrative | rr_PerformanceTableNarrativeTextBlock | After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. | ||
R6 Shares | JPMorgan Sustainable Municipal Income Fund | Class R6 | ||||
Risk Return Abstract | rr_RiskReturnAbstract | |||
Management Fees | rr_ManagementFeesOverAssets | 0.30% | ||
Distribution (Rule 12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | ||
Service Fees | rr_Component1OtherExpensesOverAssets | none | ||
Remainder of Other Expenses | rr_Component2OtherExpensesOverAssets | 0.16% | ||
Other Expenses | rr_OtherExpensesOverAssets | 0.16% | ||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.46% | ||
Fee Waivers and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.11%) | [1] | |
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 0.35% | [1] | |
1 Year | rr_ExpenseExampleYear01 | $ 36 | ||
3 Years | rr_ExpenseExampleYear03 | 137 | ||
5 Years | rr_ExpenseExampleYear05 | 247 | ||
10 Years | rr_ExpenseExampleYear10 | 568 | ||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 36 | ||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 137 | ||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 247 | ||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 568 | ||
2012 | rr_AnnualReturn2012 | 4.56% | ||
2013 | rr_AnnualReturn2013 | (1.37%) | ||
2014 | rr_AnnualReturn2014 | 6.40% | ||
2015 | rr_AnnualReturn2015 | 2.92% | ||
2016 | rr_AnnualReturn2016 | 0.06% | ||
2017 | rr_AnnualReturn2017 | 3.80% | ||
2018 | rr_AnnualReturn2018 | 1.09% | ||
2019 | rr_AnnualReturn2019 | 6.28% | ||
2020 | rr_AnnualReturn2020 | 4.82% | ||
2021 | rr_AnnualReturn2021 | 1.23% | ||
Year to Date Return, Label | rr_YearToDateReturnLabel | <span style="font-family:Arial;font-size:9pt;margin-left:0.0pt;">The Fund’s year-to-date total return</span> | ||
Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Mar. 31, 2022 | ||
Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | (5.74%) | ||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | <span style="font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0.0pt;">Best Quarter</span> | ||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Mar. 31, 2019 | ||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 2.35% | ||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | <span style="font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0.0pt;">Worst Quarter</span> | ||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2016 | ||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (3.14%) | ||
Past 1 Year | rr_AverageAnnualReturnYear01 | 1.23% | ||
Past 5 Years | rr_AverageAnnualReturnYear05 | 3.41% | ||
Past 10 Years | rr_AverageAnnualReturnYear10 | 2.94% | ||
R6 Shares | JPMorgan Sustainable Municipal Income Fund | Return After Taxes on Distributions | Class R6 | ||||
Risk Return Abstract | rr_RiskReturnAbstract | |||
Past 1 Year | rr_AverageAnnualReturnYear01 | 1.22% | ||
Past 5 Years | rr_AverageAnnualReturnYear05 | 3.34% | ||
Past 10 Years | rr_AverageAnnualReturnYear10 | 2.81% | ||
R6 Shares | JPMorgan Sustainable Municipal Income Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class R6 | ||||
Risk Return Abstract | rr_RiskReturnAbstract | |||
Past 1 Year | rr_AverageAnnualReturnYear01 | 1.59% | ||
Past 5 Years | rr_AverageAnnualReturnYear05 | 3.17% | ||
Past 10 Years | rr_AverageAnnualReturnYear10 | 2.85% | ||
R6 Shares | JPMorgan Sustainable Municipal Income Fund | BLOOMBERG U.S. 1-15 YEAR BLEND (1-17) MUNICIPAL BOND INDEX(Reflects No Deduction for Fees, Expenses, or Taxes) | ||||
Risk Return Abstract | rr_RiskReturnAbstract | |||
Past 1 Year | rr_AverageAnnualReturnYear01 | 0.86% | ||
Past 5 Years | rr_AverageAnnualReturnYear05 | 3.57% | ||
Past 10 Years | rr_AverageAnnualReturnYear10 | 3.05% | ||
|
Label | Element | Value | ||
---|---|---|---|---|
Risk Return Abstract | rr_RiskReturnAbstract | |||
Registrant Name | dei_EntityRegistrantName | JPMORGAN TRUST II | ||
Prospectus Date | rr_ProspectusDate | Jul. 01, 2022 | ||
R6 Shares | JPMorgan Short-Intermediate Municipal Bond Fund | ||||
Risk Return Abstract | rr_RiskReturnAbstract | |||
Risk/Return [Heading] | rr_RiskReturnHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Class/Ticker: R6/OSTSX</span> | ||
Objective [Heading] | rr_ObjectiveHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">What is the goal of the Fund?</span> | ||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Fund seeks as high a level of current income exempt from federal income tax as is consistent with relative stability of principal. | ||
Expense [Heading] | rr_ExpenseHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Fees and Expenses of the Fund</span> | ||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | The following tables describe the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and examples below. | ||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">ANNUAL FUND OPERATING EXPENSES</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">(Expenses that you pay each year as a percentage of the value</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">of your investment)</span> | ||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | <span style="font-family:Arial;font-size:8pt;">6/30/</span><span style="font-family:Arial;font-size:8pt;">23</span> | ||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Portfolio Turnover</span> | ||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 21% of the average value of its portfolio. | ||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 21.00% | ||
Expense Example [Heading] | rr_ExpenseExampleHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Example</span> | ||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 6/30/23 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. | ||
Expense Example by, Year, Caption [Text] | rr_ExpenseExampleByYearCaption | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">WOULD BE:</span> | ||
Expense Example, No Redemption, By Year, Caption [Text] | rr_ExpenseExampleNoRedemptionByYearCaption | WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: | ||
Strategy [Heading] | rr_StrategyHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">What are the Fund’s main investment strategies?</span> | ||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | Under normal circumstances, the Fund invests at least 80% of its net Assets in municipal bonds, the income from which is exempt from federal income tax. This is a fundamental policy. For purposes of this policy, “Assets” means net assets, plus the amount of borrowings for investment purposes. The Fund invests in a portfolio of municipal bonds with an average weighted maturity of one to five years. Average weighted maturity is the average of all the current maturities (that is, the term of the securities) of the individual bonds in a Fund calculated so as to count most heavily those securities with the highest dollar value. Average weighted maturity is important to investors as an indication of a Fund’s sensitivity to changes in interest rates. Usually, the longer the average weighted maturity, the more fluctuation in share price you can expect.Municipal bonds are debt securities with maturities of 90 days or more at the time of issuance issued by states, territories and possessions of the United States, including the District of Columbia, and their respective authorities, political subdivisions, agencies and instrumentalities, the interest on which is exempt from federal income tax. The securities are issued to raise funds for various public and private purposes. Municipal bonds include private activity and industrial development bonds, tax anticipation notes and participations in pools of municipal securities.Up to 100% of the Fund’s assets may be invested in municipal bonds, the interest on which may be subject to the federal alternative minimum tax for individuals.The Fund also invests in municipal mortgage-backed and asset-backed securities, as well as auction rate securities and restricted securities. The Fund may invest a significant portion or all of its assets in municipal mortgage-backed securities at the adviser’s discretion. The securities in which the Fund invests may have fixed rates of return or floating or variable rates.The Fund may invest more than 25% of its total assets in municipal housing authority obligations. Up to 20% of the Fund’s assets may be held in cash and cash equivalents.The Fund may invest up to 20% of its total assets in securities rated below investment grade. Such securities are known as “junk bonds,” “high yield bonds” and “non-investment grade bonds.” Junk bonds also include unrated securities that the adviser believes to be of comparable quality to debt securities that are rated below investment grade. These securities generally are rated in the fifth or lower rating categories (for example, BB+ or lower by S&P and Ba1 or lower by Moody’s). These securities generally offer a higher yield than investment grade securities, but involve a high degree of risk. A security’s quality is determined at the time of purchase and securities that are rated investment grade or the unrated equivalent may be downgraded or decline in credit quality, such that, following the time of purchase, they would be deemed to be below investment grade. If the quality of an investment grade security is downgraded subsequent to purchase to below investment grade, the Fund may continue to hold the security.The Fund may also invest in zero-coupon securities.Investment Process: 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 and the complex legal and technical structure of the transaction. As part of its investment process, the adviser seeks to assess the impact ofenvironmental, social and governance factors on certain 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 sectors to identify financially material issues on the Fund’s investments in municipal issues and ascertain key issues that merit engagement with municipal issuers. These assessments may not be conclusive and securities 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 that may be positively impacted by such factors. | ||
Risk [Heading] | rr_RiskHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">The Fund’s Main Investment Risks</span> | ||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The Fund is subject to management risk and may not achieve its objective if the adviser’s expectations regarding particular instruments or markets are not met.An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.Interest Rate Risk. The Fund mainly invests in bonds and other debt securities. These securities will increase or decrease in value based on changes in interest rates. If rates increase, the value of the Fund’s investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. The Fund may face a heightened level of interest rate risk due to certain changes in monetary policy. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also may be low or the Fund may be unable to maintain positive returns.Municipal Obligations Risk. The risk of a municipal obligation generally depends on the financial and credit status of the issuer. Changes in the financial health of a municipal issuer may make it difficult for the issuer to make interest and principal payments when due. This could decrease the Fund’s income or hurt the ability to preserve capital and liquidity.Under some circumstances, municipal obligations might not pay interest unless the state legislature or municipality authorizes money for that purpose.Municipal obligations may be more susceptible to downgrades or defaults during recessions or similar periods of economic stress. In addition, since some municipal obligations may be secured or guaranteed by banks and other institutions, the risk to the Fund could increase if the banking or financial sector suffers an economic downturn and/or if the credit ratings of the institutions issuing the guarantee are downgraded or at risk of being downgraded by a national rating organization. Such a downward revision or risk of being downgraded may have an adverse effect on the market prices of the bonds and thus the value of the Fund’s investments.In addition to being downgraded, an insolvent municipality may file for bankruptcy. The reorganization of a municipality’s debts may significantly affect the rights of creditors and the value of the securities issued by the municipality and the value of the Fund’s investments.Municipal Housing Authority Obligations Risk. The Fund may invest more than 25% of its total assets in municipal housing authority obligations. As a result, the Fund could be more susceptible to developments which affect those obligations.Credit Risk. The Fund’s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. If an issuer’s or a counterparty’s financial condition worsens, the credit quality of the issuer or counterparty may deteriorate. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.Alternative Minimum Tax Risk. The Fund may invest in securities, the interest on which may be subject to the federal alternative minimum tax.Mortgage-Related and Other Asset-Backed Securities Risk.Mortgage-related and asset-backed securities, including certain municipal housing authority obligations, are subject to certain other risks. The value of these securities will be influenced by the factors affecting the housing market and the assets underlying such securities. As a result, during periods of declining asset values, difficult or frozen credit markets, significant changes in interest rates, or deteriorating economic conditions, mortgage-related and asset-backed securities may decline in value, face valuation difficulties, become more volatile and/or become illiquid. These securities are also subject to prepayment and call risk. In periods of declining interest rates, the Fund may be subject to contraction risk, which is the risk that borrowers will increase the rate at which they prepay the maturity value of mortgages and other obligations. When mortgages and other obligations are prepaid and when securities are called, the Fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. In periods of either rising or declining interest rates, the Fund may be subject to extension risk, which is the risk that the expected maturity of an obligation will lengthen in duration due to a decrease in prepayments. As a result, in certain interest rate environments, the Fund may exhibit additional volatility. Additionally, asset-backed, mortgage-related and mortgage-backed securities are subject to risks associated with their structure and the nature of the assets underlying the securities and the servicing of those assets. Certain asset-backed, mortgage-related and mortgage-backed securities may face valuation difficulties and may be less liquid than other types of asset-backed, mortgage-related and mortgage-backed securities, or debt securities.Debt Securities and Other Callable Securities Risk. As part of its main investment strategy, the Fund invests in debt securities. The issuers of these securities and other callable securities may be able to repay principal in advance, especially when interest rates fall. Changes in prepayment rates can affect the return on investment and yield of these securities. When debt obligations are prepaid and when securities are called, the Fund may have to reinvest in securities with a lower yield. The Fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss.Taxability Risk. The Fund’s investments in municipal securities rely on the opinion of the issuer’s bond counsel that the interest paid on those securities will not be subject to federal income tax. Tax opinions are generally provided at the time the municipal security is initially issued. However, after the Fund buys a security, the Internal Revenue Service may determine that a bond issued as tax-exempt should in fact be taxable and the Fund’s dividends with respect to that bond might be subject to federal income tax.High Yield Securities Risk. The Fund may invest in securities and instruments of municipal issuers that are highly leveraged, less creditworthy or financially distressed. These investments (also known as junk bonds) are considered to be speculative and are subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity.In recent years, there has been a broad trend of weaker or less restrictive covenant protections in the high yield market. Among other things, under such weaker or less restrictive covenants, borrowers might be able to exercise more flexibility with respect to certain activities than borrowers who are subject to stronger or more protective covenants. For example, borrowers might be able to incur more debt, including secured debt, return more capital to shareholders, remove or reduce assets that are designated as collateral securing high yield securities, increase the claims against assets that are permitted against collateral securing high yield securities or otherwise manage their business in ways that could impact creditors negatively. In addition, certain privately held borrowers might be permitted to file less frequent, less detailed or less timely financial reporting or other information, which could negatively impact the value of the high yield securities issued by such borrowers.Each of these factors might negatively impact the high yield instruments held by the Fund. No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. The inability to dispose of the Fund’s securities and other investments in a timely fashion could result in losses to the Fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk may be more pronounced for the Fund. When instruments are prepaid, the Fund may have to reinvest in instruments with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these instruments, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield.Zero-Coupon Bond Risk. The market value of a zero-coupon bond is generally more volatile than the market value of other fixed income securities with similar maturities that pay interest periodically. In addition, federal income tax law requires that the holder of a zero-coupon bond accrue a portion of the discount at which the bond was purchased as taxable income each year. The Fund may consequently have to dispose of portfolio securities under disadvantageous circumstances to generate cash to satisfy its requirement as a regulated investment company to distribute all of its net income (including non-cash income attributable to zero-coupon securities). These actions may reduce the assets to which the Fund’s expenses could otherwise be allocated and may reduce the Fund’s rate of return.Restricted Securities Risk. Restricted securities are securities that cannot be offered for public resale unless registered under the applicable securities laws or that have a contractual restriction that prohibits or limits their resale. Restricted securities include private placement securities that have not been registered under the applicable securities laws, such as Rule 144A securities, and securities of U.S. and non-U.S. issuers that are issued pursuant to Regulation S. Private placements are generally subject to strict restrictions on resale. Restricted securities may not be listed on an exchange and may have no active trading market. Restricted securities may be illiquid. The Fund may be unable to sell a restricted security on short notice or may be able to sell them only at a price below current value. It may be more difficult to determine a market value for a restricted security. Also, the Fund may get only limited information about the issuer of a restricted security, so it may be less able to predict a loss. In addition, if Fund management receives material non-public information about the issuer, the Fund may as a result be unable to sell the securities. Certain restricted securities may involve a high degree of business and financial risk and may result in substantial losses.Auction Rate Securities Risk. The auction rate municipal securities the Fund will purchase will typically have a long-term nominal maturity for which the interest rate is regularly reset through a “Dutch” auction. The interest rate set by the auction is the lowest interest rate that covers all securities offered for sale. While this process is designed to permit auction rate securities to be traded at par value, there is a risk that an auction will fail due to insufficient demand for the securities, which may adversely affect the liquidity and price of auction rate securities. Moreover, between auctions, there may be no secondary market for these securities, and sales conducted on a secondary market may not be on terms favorable to the seller. Thus, with respect to liquidity and price stability, auction rate securities may differ substantially from cash equivalents, notwithstanding the frequency of auctions and the credit quality of the security.Risk Associated with the Fund Holding Cash, Money Market Instruments and Other Short-Term Investments. The Fund will, at times, hold assets in cash, money market instruments and other short-term investments, which may hurt the Fund’s performance. These positions may also subject the Fund to additional risks and costs.Transactions Risk. The Fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, large purchases of Fund shares may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund’s portfolio may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes due to a number of factors, including inflation (or expectations for inflation), deflation (or expectations for deflation), interest rates, global demand for particular products or resources, market instability, debt crises and downgrades, embargoes, tariffs, sanctions and other trade barriers, regulatory events, other governmental trade or market control programs and related geopolitical events. In addition, the value of the Fund’s investments may be negatively affected by the occurrence of global events such as war, terrorism, environmental disasters, natural disasters or events, country instability, and infectious disease epidemics or pandemics.For example, the outbreak of COVID-19 has negatively affected economies, markets and individual companies throughout the world, including those in which the Fund invests. The effects of this pandemic to public health and business and market conditions, including, among other things, reduced consumer demand and economic output, supply chain disruptions and increased government spending, may continue to have a significant negative impact on the performance of the Fund’s investments, increase the Fund’s volatility, exacerbate pre-existing political, social and economic risks to the Fund, and negatively impact broad segments of businesses and populations.In addition, governments, their regulatory agencies, or self-regulatory organizations have taken or may take actions in response to the pandemic that affect the instruments in which the Fund invests, or the issuers of such instruments, in ways that could have a significant negative impact on the Fund’s investment performance. The duration and extent of COVID-19 and associated economic and market conditions and uncertainty over the long-term cannot be reasonably estimated at this time. The ultimate impact of COVID-19 and the extent to which the associated conditions impact a Fund will also depend on future developments, which are highly uncertain, difficult to accurately predict and subject to frequent changes.Industry and Sector Focus Risk. At times the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the Fund increases the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.You could lose money investing in the Fund. | ||
Risk Lose Money [Text] | rr_RiskLoseMoney | <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:3pt;">You could lose money investing in the Fund.</span> | ||
Risk Not Insured Depository Institution [Text] | rr_RiskNotInsuredDepositoryInstitution | <span style="color:#000000;font-family:Arial;font-size:10pt;line-height:11pt;">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.</span> | ||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">The Fund’s Past Performance</span> | ||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R6 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns over the past one year, five years and ten years. The table compares the Fund’s performance to the performance of the Bloomberg U.S. 1-5 Year Blend (1-6) Municipal Bond Index. The performance of the Class R6 Shares prior to their inception are based on Class I Shares (which are not offered in this prospectus). The actual returns of the Class R6 Shares would be substantially similar to the performance of Class I Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the Classes do not have the same expenses. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. | ||
Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | <span style="font-family:Arial;font-size:10pt;">The bar chart shows how the performance of the </span><span style="font-family:Arial;font-size:10pt;">Fund’s Class R6 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns over the past one year, five years and ten years.</span> | ||
Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | <span style="font-family:Arial;font-size:10pt;font-style:italic;">1-800-480-4111</span> | ||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | <span style="font-family:Arial;font-size:10pt;font-style:italic;">www.jpmorganfunds.com</span> | ||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | <span style="font-family:Arial;font-size:10pt;">Past performance </span><span style="font-family:Arial;font-size:10pt;">(before and after taxes) is not necessarily an indication of how the Fund will perform in the future. </span> | ||
Bar Chart [Heading] | rr_BarChartHeading | <span style="color:#FFFFFF;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0.0pt;">YEAR-BY-YEAR RETURNS — CLASS R6 SHARES</span> | ||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | Best Quarter2nd quarter, 20202.06%Worst Quarter4th quarter, 2016-2.19%The Fund’s year-to-date total returnthrough3/31/22was-4.52%. | ||
Performance Table Heading | rr_PerformanceTableHeading | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">AVERAGE ANNUAL TOTAL RETURNS</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">(For periods ended December 31, 2021)</span> | ||
Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | <span style="color:#000000;font-family:Arial;font-size:10pt;">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> | ||
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | <span style="color:#000000;font-family:Arial;font-size:10pt;"> Actual after-tax returns </span><span style="color:#000000;font-family:Arial;font-size:10pt;">depend on the investor’s tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.</span> | ||
Performance Table Narrative | rr_PerformanceTableNarrativeTextBlock | After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. | ||
R6 Shares | JPMorgan Short-Intermediate Municipal Bond Fund | Class R6 | ||||
Risk Return Abstract | rr_RiskReturnAbstract | |||
Management Fees | rr_ManagementFeesOverAssets | 0.25% | ||
Distribution (Rule 12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | ||
Service Fees | rr_Component1OtherExpensesOverAssets | none | ||
Remainder of Other Expenses | rr_Component2OtherExpensesOverAssets | 0.10% | ||
Other Expenses | rr_OtherExpensesOverAssets | 0.10% | ||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.01% | ||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.36% | ||
Fee Waivers and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.16%) | [1] | |
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 0.20% | [1] | |
1 Year | rr_ExpenseExampleYear01 | $ 20 | ||
3 Years | rr_ExpenseExampleYear03 | 99 | ||
5 Years | rr_ExpenseExampleYear05 | 186 | ||
10 Years | rr_ExpenseExampleYear10 | 440 | ||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 20 | ||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 99 | ||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 186 | ||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 440 | ||
2012 | rr_AnnualReturn2012 | 1.26% | ||
2013 | rr_AnnualReturn2013 | 0.25% | ||
2014 | rr_AnnualReturn2014 | 1.80% | ||
2015 | rr_AnnualReturn2015 | 1.49% | ||
2016 | rr_AnnualReturn2016 | (0.27%) | ||
2017 | rr_AnnualReturn2017 | 2.45% | ||
2018 | rr_AnnualReturn2018 | 1.25% | ||
2019 | rr_AnnualReturn2019 | 4.90% | ||
2020 | rr_AnnualReturn2020 | 3.51% | ||
2021 | rr_AnnualReturn2021 | 0.32% | ||
Year to Date Return, Label | rr_YearToDateReturnLabel | <span style="font-family:Arial;font-size:9pt;margin-left:0.0pt;">The Fund’s year-to-date total return</span> | ||
Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Mar. 31, 2022 | ||
Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | (4.52%) | ||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | <span style="color:#000000;font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0.0pt;">Best Quarter</span> | ||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Jun. 30, 2020 | ||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 2.06% | ||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | <span style="color:#000000;font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0.0pt;">Worst Quarter</span> | ||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2016 | ||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (2.19%) | ||
Past 1 Year | rr_AverageAnnualReturnYear01 | 0.32% | ||
Past 5 Years | rr_AverageAnnualReturnYear05 | 2.46% | ||
Past 10 Years | rr_AverageAnnualReturnYear10 | 1.68% | ||
R6 Shares | JPMorgan Short-Intermediate Municipal Bond Fund | Return After Taxes on Distributions | Class R6 | ||||
Risk Return Abstract | rr_RiskReturnAbstract | |||
Past 1 Year | rr_AverageAnnualReturnYear01 | 0.32% | ||
Past 5 Years | rr_AverageAnnualReturnYear05 | 2.45% | ||
Past 10 Years | rr_AverageAnnualReturnYear10 | 1.66% | ||
R6 Shares | JPMorgan Short-Intermediate Municipal Bond Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class R6 | ||||
Risk Return Abstract | rr_RiskReturnAbstract | |||
Past 1 Year | rr_AverageAnnualReturnYear01 | 0.81% | ||
Past 5 Years | rr_AverageAnnualReturnYear05 | 2.30% | ||
Past 10 Years | rr_AverageAnnualReturnYear10 | 1.62% | ||
R6 Shares | JPMorgan Short-Intermediate Municipal Bond Fund | BLOOMBERG U.S. 1-5 YEAR BLEND (1-6) MUNICIPAL BOND INDEX(Reflects No Deduction for Fees, Expenses, or Taxes) | ||||
Risk Return Abstract | rr_RiskReturnAbstract | |||
Past 1 Year | rr_AverageAnnualReturnYear01 | 0.35% | ||
Past 5 Years | rr_AverageAnnualReturnYear05 | 2.23% | ||
Past 10 Years | rr_AverageAnnualReturnYear10 | 1.74% | ||
|
Label | Element | Value | ||
---|---|---|---|---|
Risk Return Abstract | rr_RiskReturnAbstract | |||
Registrant Name | dei_EntityRegistrantName | JPMORGAN TRUST II | ||
Prospectus Date | rr_ProspectusDate | Jul. 01, 2022 | ||
R6 Shares | JPMorgan Tax Free Bond Fund | ||||
Risk Return Abstract | rr_RiskReturnAbstract | |||
Risk/Return [Heading] | rr_RiskReturnHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Class/Ticker: R6/RUNFX</span> | ||
Objective [Heading] | rr_ObjectiveHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">What is the goal of the Fund?</span> | ||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Fund seeks as high a level of current income exempt from federal income tax as is consistent with relative stability of principal. | ||
Expense [Heading] | rr_ExpenseHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Fees and Expenses of the Fund</span> | ||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | The following tables describe the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and examples below. | ||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">ANNUAL FUND OPERATING EXPENSES</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">(Expenses that you pay each year as a percentage of the value</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">of your investment)</span> | ||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | <span style="font-family:Arial;font-size:8pt;">6/30/</span><span style="font-family:Arial;font-size:8pt;">23</span> | ||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Portfolio Turnover</span> | ||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 16% of the average value of its portfolio. | ||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 16.00% | ||
Expense Example [Heading] | rr_ExpenseExampleHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">Example</span> | ||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 6/30/23 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. | ||
Expense Example by, Year, Caption [Text] | rr_ExpenseExampleByYearCaption | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">WOULD BE:</span> | ||
Expense Example, No Redemption, By Year, Caption [Text] | rr_ExpenseExampleNoRedemptionByYearCaption | WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: | ||
Strategy [Heading] | rr_StrategyHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">What are the Fund’s main investment strategies?</span> | ||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | Under normal circumstances, the Fund invests at least 80% of its net Assets in municipal bonds, the income from which is exempt from federal income tax. This is a fundamental policy. For purposes of this policy, “Assets” means net assets, plus the amount of borrowings for investment purposes.Municipal bonds are debt securities with maturities of 90 days or more at the time of issuance issued by states, territories and possessions of the United States, including the District of Columbia, and their respective authorities, political subdivisions, agencies and instrumentalities, the interest on which is exempt from federal income tax. The securities are issued to raise funds for various public and private purposes. Municipal bonds include private activity and industrial development bonds, tax anticipation notes and participations in pools of municipal securities.Up to 20% of the Fund’s assets may be invested in municipal bonds, the interest on which may be subject to the federal alternative minimum tax for individuals.The securities in which the Fund invests may have fixed rates of return or floating or variable rates. Up to 20% of the Fund’s assets may be held in cash and cash equivalents. The Fund may invest in securities without regard to maturity.The Fund may invest in municipal mortgage-backed and asset-backed securities. The Fund may invest a significant portion or all of its assets in municipal mortgage-backed securities at the adviser’s discretion.The Fund may invest up to 20% of its total assets in securities rated below investment grade. Such securities are known as “junk bonds,” “high yield bonds” and “non-investment grade bonds.” Junk bonds also include unrated securities that the adviser believes to be of comparable quality to debt securities that are rated below investment grade. These securities generally are rated in the fifth or lower rating categories (for example, BB+ or lower by S&P and Ba1 or lower by Moody’s). These securities generally offer a higher yield than investment grade securities, but involve a high degree of risk. A security’s quality is determined at the time of purchase and securities that are rated investment grade or the unrated equivalent may be downgraded or decline in credit quality, such that, following the time of purchase, they would be deemed to be below investment grade. If the quality of an investment grade security is downgraded subsequent to purchase to below investment grade, the Fund may continue to hold the security.The Fund may also invest in zero-coupon securities.Investment Process: 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 and the complex legal and technical structure of the transaction. As part of its investment process, the adviser seeks to assess the impact ofenvironmental, social and governance factors on certain 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 sectors to identify financially material issues on the Fund’s investments in municipal issues and ascertain key issues that merit engagement with municipal issuers. These assessments may not be conclusive and securities 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 that may be positively impacted by such factors. | ||
Risk [Heading] | rr_RiskHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">The Fund’s Main Investment Risks</span> | ||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The Fund is subject to management risk and may not achieve its objective if the adviser’s expectations regarding particular instruments or markets are not met.An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.Interest Rate Risk. The Fund mainly invests in bonds and other debt securities. These securities will increase or decrease in value based on changes in interest rates. If rates increase, the value of the Fund’s investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. The Fund may face a heightened level of interest rate risk due to certain changes in monetary policy. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also may be low or the Fund may be unable to maintain positive returns.Municipal Obligations Risk. The risk of a municipal obligation generally depends on the financial and credit status of the issuer. Changes in the financial health of a municipal issuer may make it difficult for the issuer to make interest and principal payments when due. This could decrease the Fund’s income or hurt the ability to preserve capital and liquidity.Under some circumstances, municipal obligations might not pay interest unless the state legislature or municipality authorizes money for that purpose.Municipal obligations may be more susceptible to downgrades or defaults during recessions or similar periods of economic stress. In addition, since some municipal obligations may be secured or guaranteed by banks and other institutions, the risk to the Fund could increase if the banking or financial sector suffers an economic downturn and/or if the credit ratings of the institutions issuing the guarantee are downgraded or at risk of being downgraded by a national rating organization. Such a downward revision or risk of being downgraded may have an adverse effect on the market prices of the bonds and thus the value of the Fund’s investments.In addition to being downgraded, an insolvent municipality may file for bankruptcy. The reorganization of a municipality’s debts may significantly affect the rights of creditors and the value of the securities issued by the municipality and the value of the Fund’s investments.Credit Risk. The Fund’s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. If an issuer’s or a counterparty’s financial condition worsens, the credit quality of the issuer or counterparty may deteriorate. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.Alternative Minimum Tax Risk. The Fund may invest in securities, the interest on which may be subject to the federal alternative minimum tax.Mortgage-Related and Other Asset-Backed Securities Risk. Mortgage-related and asset-backed securities, including certain municipal housing authority obligations, are subject to certain other risks. The value of these securities will be influenced by the factors affecting the housing market and the assets underlying such securities. As a result, during periods of declining asset values, difficult or frozen credit markets, significant changes in interest rates, or deteriorating economic conditions, mortgage-related and asset-backed securities may decline in value, face valuation difficulties, become more volatile and/or become illiquid. These securities are also subject to prepayment and call risk. In periods of declining interest rates, the Fund may be subject to contraction risk which is the risk that borrowers will increase the rate at which they prepay the maturity value of mortgages and other obligations. When mortgages and other obligations are prepaid and when securities are called, the Fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. In periods of either rising or declining interest rates, the Fund may be subject to extension risk which is the risk that the expected maturity of an obligation will lengthen in duration due to a decrease in prepayments. As a result, in certain interest rate environments, the Fund may exhibit additional volatility. Additionally, asset-backed, mortgage-related and mortgage-backed securities are subject to risks associated with their structure and the nature of the assets underlying the securities and the servicing of those assets. Certain asset-backed, mortgage-related and mortgage-backed securities may face valuation difficulties and may be less liquid than other types of asset-backed, mortgage-related and mortgage-backed securities, or debt securities.Debt Securities and Other Callable Securities Risk. As part of its main investment strategy, the Fund invests in debt securities. The issuers of these securities and other callable securities may be able to repay principal in advance, especially when interest rates fall. Changes in prepayment rates can affect the return on investment and yield of these securities. When debt obligations are prepaid and when securities are called, the Fund may have to reinvest in securities with a lower yield. The Fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss.Taxability Risk. The Fund’s investments in municipal securities rely on the opinion of the issuer’s bond counsel that the interest paid on those securities will not be subject to federal income tax. Tax opinions are generally provided at the time the municipal security is initially issued. However, after the Fund buys a security, the Internal Revenue Service may determine that a bond issued as tax-exempt should in fact be taxable and the Fund’s dividends with respect to that bond might be subject to federal income tax.High Yield Securities Risk. The Fund may invest in securities and instruments of municipal issuers that are highly leveraged, less creditworthy or financially distressed. These investments (also known as junk bonds) are considered to be speculative and are subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity.In recent years, there has been a broad trend of weaker or less restrictive covenant protections in the high yield market. Among other things, under such weaker or less restrictive covenants, borrowers might be able to exercise more flexibility with respect to certain activities than borrowers who are subject to stronger or more protective covenants. For example, borrowers might be able to incur more debt, including secured debt, return more capital to shareholders, remove or reduce assets that are designated as collateral securing high yield securities, increase the claims against assets that are permitted against collateral securing high yield securities or otherwise manage their business in ways that could impact creditors negatively. In addition, certain privately held borrowers might be permitted to file less frequent, less detailed or less timely financial reporting or other information, which could negatively impact the value of the high yield securities issued by such borrowers.Each of these factors might negatively impact the high yield instruments held by the Fund. No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. The inability to dispose of the Fund’s securities and other investments in a timely fashion could result in losses to the Fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk may be more pronounced for the Fund. When instruments are prepaid, the Fund may have to reinvest in instruments with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these instruments, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield.Zero-Coupon Bond Risk. The market value of a zero-coupon bond is generally more volatile than the market value of other fixed income securities with similar maturities that pay interest periodically. In addition, federal income tax law requires that the holder of a zero-coupon bond accrue a portion of the discount at which the bond was purchased as taxable income each year. The Fund may consequently have to dispose of portfolio securities under disadvantageous circumstances to generate cash to satisfy its requirement as a regulated investment company to distribute all of its net income (including non-cash income attributable to zero-coupon securities). These actions may reduce the assets to which the Fund’s expenses could otherwise be allocated and may reduce the Fund’s rate of return.Risk Associated with the Fund Holding Cash, Money Market Instruments and Other Short-Term Investments. The Fund will, at times, hold assets in cash, money market instruments and other short-term investments, which may hurt the Fund’s performance. These positions may also subject the Fund to additional risks and costs.Transactions Risk. The Fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, large purchases of Fund shares may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund’s portfolio may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes due to a number of factors, including inflation (or expectations for inflation), deflation (or expectations for deflation), interest rates, global demand for particular products or resources, market instability, debt crises and downgrades, embargoes, tariffs, sanctions and other trade barriers, regulatory events, other governmental trade or market control programs and related geopolitical events. In addition, the value of the Fund’s investments may be negatively affected by the occurrence of global events such as war, terrorism, environmental disasters, natural disasters or events, country instability, and infectious disease epidemics or pandemics.For example, the outbreak of COVID-19 has negatively affected economies, markets and individual companies throughout the world, including those in which the Fund invests. The effects of this pandemic to public health and business and market conditions, including, among other things, reduced consumer demand and economic output, supply chain disruptions and increased government spending, may continue to have a significant negative impact on the performance of the Fund’s investments, increase the Fund’s volatility, exacerbate pre-existing political, social and economic risks to the Fund, and negatively impact broad segments of businesses and populations.In addition, governments, their regulatory agencies, or self-regulatory organizations have taken or may take actions in response to the pandemic that affect the instruments in which the Fund invests, or the issuers of such instruments, in ways that could have a significant negative impact on the Fund’s investment performance. The duration and extent of COVID-19 and associated economic and market conditions and uncertainty over the long-term cannot be reasonably estimated at this time. The ultimate impact of COVID-19 and the extent to which the associated conditions impact a Fund will also depend on future developments, which are highly uncertain, difficult to accurately predict and subject to frequent changes.Industry and Sector Focus Risk. At times the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the Fund increases the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.You could lose money investing in the Fund. | ||
Risk Lose Money [Text] | rr_RiskLoseMoney | <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:3pt;">You could lose money investing in the Fund.</span> | ||
Risk Not Insured Depository Institution [Text] | rr_RiskNotInsuredDepositoryInstitution | <span style="color:#000000;font-family:Arial;font-size:10pt;line-height:11pt;">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.</span> | ||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | <span style="color:#000000;font-family:Arial;font-size:11pt;font-weight:bold;">The Fund’s Past Performance</span> | ||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R6 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns over the past one year, five years and ten years. The table compares the Fund’s performance to the performance of the Bloomberg US Municipal Index. The performance of the Class R6 Shares prior to their inception are based on Class I Shares (which are not offered in this prospectus). The actual returns of the Class R6 Shares would be substantially similar to the performance of Class I Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the Classes do not have the same expenses. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. | ||
Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | <span style="font-family:Arial;font-size:10pt;">The bar chart shows how the performance of the </span><span style="font-family:Arial;font-size:10pt;">Fund’s Class R6 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns over the past one year, five years and ten years.</span> | ||
Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | <span style="font-family:Arial;font-size:10pt;font-style:italic;">1-800-480-4111</span> | ||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | <span style="font-family:Arial;font-size:10pt;font-style:italic;">www.jpmorganfunds.com</span> | ||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | <span style="font-family:Arial;font-size:10pt;">Past performance (before and after taxes) is not </span><span style="font-family:Arial;font-size:10pt;">necessarily an indication of how the Fund will perform in the future. </span> | ||
Bar Chart [Heading] | rr_BarChartHeading | <span style="color:#FFFFFF;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0.0pt;">YEAR-BY-YEAR RETURNS — CLASS R6 SHARES</span> | ||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | Best Quarter1st quarter, 20143.86%Worst Quarter4th quarter, 2016-3.88%The Fund’s year-to-date total returnthrough3/31/22was-7.04%. | ||
Performance Table Heading | rr_PerformanceTableHeading | <span style="color:#FFFFFF;font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0.0pt;">AVERAGE ANNUAL TOTAL RETURNS</span><span style="color:#FFFFFF;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">(For periods ended December 31, 2021)</span> | ||
Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | <span style="color:#000000;font-family:Arial;font-size:10pt;">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> | ||
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | <span style="color:#000000;font-family:Arial;font-size:10pt;"> Actual after-tax returns </span><span style="color:#000000;font-family:Arial;font-size:10pt;">depend on the investor’s tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.</span> | ||
Performance Table Narrative | rr_PerformanceTableNarrativeTextBlock | After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. | ||
R6 Shares | JPMorgan Tax Free Bond Fund | Class R6 | ||||
Risk Return Abstract | rr_RiskReturnAbstract | |||
Management Fees | rr_ManagementFeesOverAssets | 0.30% | ||
Distribution (Rule 12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | ||
Service Fees | rr_Component1OtherExpensesOverAssets | none | ||
Remainder of Other Expenses | rr_Component2OtherExpensesOverAssets | 0.14% | ||
Other Expenses | rr_OtherExpensesOverAssets | 0.14% | ||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.44% | ||
Fee Waivers and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.04%) | [1] | |
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 0.40% | [1] | |
1 Year | rr_ExpenseExampleYear01 | $ 41 | ||
3 Years | rr_ExpenseExampleYear03 | 137 | ||
5 Years | rr_ExpenseExampleYear05 | 242 | ||
10 Years | rr_ExpenseExampleYear10 | 551 | ||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 41 | ||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 137 | ||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 242 | ||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 551 | ||
2012 | rr_AnnualReturn2012 | 6.59% | ||
2013 | rr_AnnualReturn2013 | (2.33%) | ||
2014 | rr_AnnualReturn2014 | 10.08% | ||
2015 | rr_AnnualReturn2015 | 3.25% | ||
2016 | rr_AnnualReturn2016 | 0.45% | ||
2017 | rr_AnnualReturn2017 | 5.04% | ||
2018 | rr_AnnualReturn2018 | 0.68% | ||
2019 | rr_AnnualReturn2019 | 7.76% | ||
2020 | rr_AnnualReturn2020 | 5.76% | ||
2021 | rr_AnnualReturn2021 | 2.66% | ||
Year to Date Return, Label | rr_YearToDateReturnLabel | <span style="font-family:Arial;font-size:9pt;margin-left:0.0pt;">The Fund’s year-to-date total return</span> | ||
Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Mar. 31, 2022 | ||
Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | (7.04%) | ||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | <span style="color:#000000;font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0.0pt;">Best Quarter</span> | ||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Mar. 31, 2014 | ||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 3.86% | ||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | <span style="color:#000000;font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0.0pt;">Worst Quarter</span> | ||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2016 | ||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (3.88%) | ||
Past 1 Year | rr_AverageAnnualReturnYear01 | 2.66% | ||
Past 5 Years | rr_AverageAnnualReturnYear05 | 4.34% | ||
Past 10 Years | rr_AverageAnnualReturnYear10 | 3.93% | ||
R6 Shares | JPMorgan Tax Free Bond Fund | Return After Taxes on Distributions | Class R6 | ||||
Risk Return Abstract | rr_RiskReturnAbstract | |||
Past 1 Year | rr_AverageAnnualReturnYear01 | 2.66% | ||
Past 5 Years | rr_AverageAnnualReturnYear05 | 4.33% | ||
Past 10 Years | rr_AverageAnnualReturnYear10 | 3.79% | ||
R6 Shares | JPMorgan Tax Free Bond Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class R6 | ||||
Risk Return Abstract | rr_RiskReturnAbstract | |||
Past 1 Year | rr_AverageAnnualReturnYear01 | 2.56% | ||
Past 5 Years | rr_AverageAnnualReturnYear05 | 4.05% | ||
Past 10 Years | rr_AverageAnnualReturnYear10 | 3.76% | ||
R6 Shares | JPMorgan Tax Free Bond Fund | BLOOMBERG US MUNICIPAL INDEX(Reflects No Deduction for Fees, Expenses, or Taxes) | ||||
Risk Return Abstract | rr_RiskReturnAbstract | |||
Past 1 Year | rr_AverageAnnualReturnYear01 | 1.52% | ||
Past 5 Years | rr_AverageAnnualReturnYear05 | 4.17% | ||
Past 10 Years | rr_AverageAnnualReturnYear10 | 3.72% | ||
|
Label | Element | Value |
---|---|---|
Risk Return Abstract | rr_RiskReturnAbstract | |
Registrant Name | dei_EntityRegistrantName | JPMORGAN TRUST II |
Prospectus Date | rr_ProspectusDate | Jul. 01, 2022 |
Document Creation Date | dei_DocumentCreationDate | Jun. 22, 2022 |
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