2 Silver-Rated Intermediate-Term Bond Funds
Voya Intermediate Bond and JPMorgan Core Bond each have experienced managers, thoughtful processes, and attractive price tags but are not perfect substitutes for one another.
Emory Zink: The parameters of the Intermediate-Term Bond Morningstar Category--which includes funds with durations between three and a half and six years along with a primary focus on U.S. corporates and investment-grade fare--leave plenty of implementation flexibility for its various constituents. For example, Voya Intermediate Bond and JPMorgan Core Bond each receive Morningstar Analyst Ratings of Silver, underpinned in either case by experienced portfolio managers, a robust bench of analyst resources, thoughtful processes rooted in bottom-up cash flow analysis, and attractive price tags.
But regardless of their shared intermediate-term bond categorization and generally positive pillar ratings, these funds are not perfect substitutes for one another. JPMorgan Core Bond is invested almost exclusively in investment-grade-rated securities while Voya Intermediate-Term Bond will hold 10% to 15% in below investment-grade fare. This is partly owing to sector preferences. Both funds are underweight U.S. Treasuries, but in the case of Voya Intermediate-Term Bond, its team will venture into the plus corners of the market if relative valuations are attractive--including emerging markets, high yield, and modest allocations to esoteric mortgage derivatives--while JPMorgan Core Bond sticks primarily with investment-grade corporates, mortgages, and structured credit.
Emory Zink does not own (actual or beneficial) 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:
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.