Skip to Content
US Videos

This Recent Upgrade Gets a Lot of Little Things Right

Silver-rated JPMorgan US Equity is a fine core holding for the domestic-equity portion of a portfolio.


Laura Lallos: We recently upgraded JPMorgan US Equity (JUESX) from Bronze to Silver. This fund is a great example of getting a lot of little things right, adding up to strong long-term performance. It's not a fund that deviates much from its benchmark--the S&P 500--in terms of sector exposure. What it does well is stock-picking across the board without making any individual big bets.

The heart of this strategy is J.P. Morgan's dividend-discount model that's used by their large core analyst team to rank stocks within sectors and identify the best prospects for long-term investing. In fact, the analysts themselves pick stocks for 40% of the portfolio. They are directly in charge of the picks for their sectors. The additional 60% is run by long-tenured managers Susan Bao and Tom Luddy, using the same research for their picks. And while Tom Luddy isn't planning to retire yet, a third comanager joined last year--Scott Davis. We like to see that kind of long-term advanced planning. Scott was on the portfolio for a long time as an analyst before becoming a [portfolio manager].

Laura Lallos does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.