Fund Facts  

Inception Date: Feb 22, 2005
Ticker Symbol: JUSUX
Morningstar Category:Short-Term Bond
As of Jun 30, 2016
Fund Net Assets ($millions) $1,294

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks a high level of current income consistent with low volatility of principal.

Principal Investment Strategies  

The fund mainly invests in mortgage-backed securities, asset-backed securities, mortgage-related securities, adjustable rate mortgages, money market instruments, and structured investments. Under normal circumstances, the fund will invest at least 80% of its assets in bonds. The fund seeks to maintain a duration of three years or less, although, under certain market conditions such as in periods of significant volatility in interest rates and spreads, the fund's duration may be longer than three years.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Jun 30, 2016
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
JPMorgan Limited Duration Bonda0.74%1.24%1.26%1.72%2.58%3.14%3.15%
Barclays U.S. 1-3 Year Government/Credit Bond Indexa,b0.67%1.65%1.59%1.22%1.10%2.80%N/A
Morningstar Short-Term Bonda,c1.03%2.04%1.49%1.42%1.54%2.97%N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Annual Fund Operating Expenses
Total annual fund operating expensesa0.39%
Fee waiver and/or expense reimbursement0.14%
Total Expenses0.25%

A contractual expense waiver exists for this fund and will expire on 06-30-2017.

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2016 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar and/or its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The Barclays U.S. 1-3 Year Government/Credit Bond Index measures the performance of corporate and government U.S. bonds with maturities of one to three years.

c. The Fund’s Morningstar Category Average is a group of funds with similar investment objectives and strategies and is the equal-weighted return of all funds per category. Morningstar places funds in certain categories based on a fund’s historical portfolio holdings.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Jun 28, 2016Jun 28, 2016$0.013000000
May 26, 2016May 26, 2016$0.010000000
Apr 27, 2016Apr 27, 2016$0.011000000
Mar 29, 2016Mar 29, 2016$0.011000000
Feb 25, 2016Feb 25, 2016$0.008000000
Jan 27, 2016Jan 27, 2016$0.010000000
Dec 29, 2015Dec 29, 2015$0.011000000
Nov 25, 2015Nov 25, 2015$0.009000000
Oct 28, 2015Oct 28, 2015$0.010000000
Sep 28, 2015Sep 28, 2015$0.012000000
Aug 27, 2015Aug 27, 2015$0.010000000
Jul 29, 2015Jul 29, 2015$0.010000000
Jun 26, 2015Jun 26, 2015$0.010000000
 

Morningstar Information

Morningstar Rating   As of Jun 30, 2016
Period Stars Category Size
Overall 4 Stars493
3-Year 4 Stars493
5-Year 5 Stars405
10-Year 3 Stars284

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, fee waivers, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. For funds with loads, the Morningstar rating on a load-waived basis is provided, when available. Load-waived ratings do not include any front- or back-end sales loads and are intended for investors that have access to such purchase terms. Funds with loads are waived for plans administered by ICMA-RC. Past performance is no guarantee of future results.

Morningstar Stylebox As of Jun 30, 2016
Fixed Income Stylebox
Medium Limited
Allocation of Assets As of May 31, 2016
Type of Asset Percent
Equity0%
Fixed Income90%
Cash/Other10%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of May 31, 2016
Asset ClassPercent
Domestic Stock0.0%
Foreign Stock0.0%
Domestic Bond87.3%
Foreign Bond2.2%
Preferred0.0%
Convertible0.0%
Cash10.5%
Other0.0%

Due to rounding, percentages shown may not add up to 100%.

 
Fixed Income Sector As of May 31, 2016
SectorPercent
Securitized83.1%
Cash & Equivalents10.5%
Corporate6.3%
Government0.1%

Exposure reflects fixed income securities only and will sum to the fixed income exposure of the fund.

 
Credit Quality As of Mar 31, 2016
Quality LevelPercent
AAA75.5%
AA3.0%
A7.4%
BBB5.1%
BB2.4%
B1.1%
Below B1.9%
Not Rated3.8%

Due to rounding, percentages shown may not add up to 100%. Exposure reflects fixed income securities only.

 
Top Ten Holdings As of May 31, 2016
Holding NamePercent
FHLMC CMO3.3%
FNMA CMO 3%2.0%
FNMA CMO 3%1.8%
GNMA CMO1.8%
GNMA CMO1.5%
FNMA CMO1.5%
GNMA CMO1.5%
GNMA CMO1.5%
FHLMC CMO1.5%
FHLMC CMO 2%1.4%
 

Statistics

Duration and Maturity As of Mar 31, 2016
StatisticValue
Average Effective Duration0.91 years
Average Effective Maturity3.39 years
Portfolio Statistics As of Jun 30, 2016
Statistic3-Year5-Year
Beta0.310.30
Alpha1.061.98
Standard Deviation0.590.94
 
 

Footnotes

1.

Please read the fund's prospectus carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus before investing. You may contact us to obtain a prospectus or to answer questions by calling 800-669-7400, emailing investorservices@icmarc.org, or visiting www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2016 Morningstar, Inc.® All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.