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JPMorgan Diversified I JDVSX

Medalist Rating as of | See JPMorgan Investment Hub
  • NAV / 1-Day Return 15.31  /  +0.86 %
  • Total Assets 453.2 Mil
  • Adj. Expense Ratio
    0.710%
  • Expense Ratio 0.710%
  • Distribution Fee Level Average
  • Share Class Type Institutional
  • Category Moderate Allocation
  • Investment Style Large Growth
  • Credit Quality / Interest Rate Sensitivity
  • Status Open
  • TTM Yield 1.25%
  • Turnover 94%

USD | NAV as of Mar 02, 2024 | 1-Day Return as of Mar 02, 2024, 12:00 AM GMT+0

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Morningstar’s Analysis JDVSX

Medalist rating as of .

A strong management team and sound investment process underpin JPMorgan Diversified I's Morningstar Medalist Rating of Bronze.

Our research team assigns Bronze ratings to strategies they’re confident will outperform a relevant index, or most peers, over a market cycle on a risk-adjusted basis.

A strong management team and sound investment process underpin JPMorgan Diversified I's Morningstar Medalist Rating of Bronze.

null Morningstar Manager Research

Morningstar Manager Research

Summary

The portfolio maintains a cost advantage over competitors, priced within the second-lowest fee quintile among peers.

The strategy’s management team earns an Above Average People Pillar rating. The strategy's effective investment approach earns an Above Average Process Pillar rating. The strategy's parent organization earns the firm an Above Average Parent Pillar rating. People Pillar and Parent Pillar ratings for this strategy are indirectly assigned by a Morningstar analyst rather than algorithmically derived. Please see the notes following each pillar section for more details. The details of assigning methods can be found in each pillar section.

Rated on Published on

Morningstar's evaluation of this fund's process seeks to understand management's investment philosophy, and whether it has been applied consistently over time and can add value across the market cycle.

null Morningstar Manager Research

Morningstar Manager Research

Process

Above Average

JPMorgan Diversified Fund earns an Above Average Process Pillar rating.

The most important driver of the rating is the parent firm's five-year risk-adjusted success ratio of 57%. The measure indicates the percentage of a firm's funds that survived and outperformed their respective category's median Morningstar Risk-Adjusted Return for the period. Noteworthy risk-adjusted performance also influences the rating. This can be seen in the fund's five-year alpha calculated relative to the category index, which suggests that the managers have shown skill in their allocation of risk. Lastly, the process is limited by being an actively managed strategy. Historical data, such as Morningstar's Active/Passive Barometer, finds that actively managed funds have generally underperformed their passive counterparts, especially over longer time horizons.

This strategy maintains a fixed-income to equity allocation very similar to Moderate Allocation peers, with a 34.6% to 59.7% fixed-income to equity weighting. Its equity sleeve maintains a persistent bias to growth stocks versus the category average. Although in terms of market-cap exposure, it resembles most peers. The strategy has three region or sector biases compared to category peers. The most significant is a tilt to the Developed Europe region, where the strategy is consistently overweight. It also maintains an overweight bias toward the financial services sector. And finally, the portfolio has invested less in developed markets regions than peers.

The portfolio is overweight in financial services by 2.7 percentage points in terms of assets compared with the category average, and its industrials allocation is similar to the category. The sectors with low exposure compared to category peers are communication services and healthcare, with communication services underweighting the average portfolio by 2.6 percentage points of assets and healthcare similar to the average. The portfolio is overweight in Developed Europe and Developed Asia regions relative to the category average by 9.5 percentage points and 3.2 percentage points, respectively. The regions with low exposure compared to their category peers are North America and Middle East and Africa, with North America underweight the average by 18.3 percentage points and Middle East and Africa similar to the average.

Rated on Published on

JPMorgan Diversified Fund earns an Above Average People Pillar rating.

null Morningstar Manager Research

Morningstar Manager Research

People

Above Average

Jeffrey A. Geller, the longest-tenured manager on the strategy, boasts 23 years of listed portfolio management experience. The average Morningstar Rating of the strategies they currently manage is 3.1 stars, demonstrating average risk-adjusted performance. Jeffrey A. Geller has an experienced backdrop of support. The three listed managers boast 16 years of average listed portfolio management experience. As a team, they manage three investment vehicles together, with a Bronze asset-weighted average Morningstar Medalist Rating, demonstrating their potential to deliver positive alpha in aggregate. The management team is invested in the fund, but the maximum investment by any manager is between$ 500,000 and$ 1 million. An investment of more than$ 1 million would be ideal to align managers' interests with those of the fund's investors.

Note: The People Pillar rating is indirectly assigned by an analyst. The longest-tenured manager of the fund also manages a different product rated by an analyst. Their analyst-assigned People Pillar rating is combined here with the People scores (algorithmic or analyst-assigned) for the fund’s other managers on a tenure-weighted basis.

Rated on Published on

A well-resourced, thoughtful, and disciplined steward of client assets, JPMorgan Asset Management maintains an Above Average Parent rating.

Associate Director Emory Zink

Emory Zink

Associate Director

Parent

Above Average

As of 2022, this investment stalwart manages more than USD 2.5 trillion in AUM. Composed of various global cohorts and diverse asset classes, the firm has more tightly integrated its capabilities in recent years, notably through the development of proprietary analytical and risk systems. Investment teams are robustly staffed and helmed by seasoned contributors. The firm’s strategies tend to produce reliable portfolios, and several flagship offerings are Morningstar Medalists. Manager incentives align with fundholders'; compensation reflects longer-term performance factors, and portfolio managers invest in the firm’s strategies as part of their compensation plans.

The firm’s funds tend to be well-priced, but they aren’t as competitive as many highly regarded peers of similar scale. Recent product launches include thematic and single-country strategies, both of which carry the potential for volatile performance and flows, along with misuse by investors. The firm remains intrepid when it comes to developing an environmental, social, and governance-focused framework and continues to move into other areas such as direct indexing through its 55iP acquisition and China through its joint venture, but these complicated initiatives take time to assess any real and lasting effect.

Rated on Published on

This strategy's Institutional share class has outstripped both its peers and the category benchmark.

null Morningstar Manager Research

Morningstar Manager Research

Performance

This share class outpaced its average peer by 84 basis points annualized over a 10-year period. And it also exceeded the return of the category benchmark, the Morningstar Moderate Target-Risk Index, by an annualized 96 basis points over the same period.

The risk-adjusted performance only continues to make a case for this fund. The share class outstripped the index with a higher Sharpe ratio, a measure of risk-adjusted return, over the trailing 10-year period. Often, higher returns are associated with more risk. However, this strategy hewed close to the benchmark's standard deviation. Finally, the share class proved itself effective by generating positive alpha, over the same 10-year period, against the category group index: a benchmark that encapsulates the performance of the broader asset class.

Published on

Fees compound over time and diminish returns, making it critical for investors to minimize expenses.

null Morningstar Manager Research

Morningstar Manager Research

Price

This share class is within the second-cheapest quintile of its Morningstar Category. Its low fee, considered jointly with the fund’s People, Process, and Parent Pillars, indicates that this share class can deliver positive alpha against its category benchmark, leading to its Morningstar Medalist Rating of Bronze.

Published on

Portfolio Holdings JDVSX

  • Current Portfolio Date
  • Equity Holdings
  • Bond Holdings
  • Other Holdings
  • % Assets in Top 10 Holdings 17.7
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

JPMorgan Prime Money Market Inst

4.04 17.7 Mil
Cash and Equivalents

JPMorgan Core Bond R6

3.21 14.1 Mil

Microsoft Corp

2.98 13.1 Mil
Technology

JPMorgan Large Cap Value R6

2.06 9.1 Mil

Amazon.com Inc

1.94 8.5 Mil
Consumer Cyclical

United States Treasury Notes 1.25%

1.41 6.2 Mil
Government

Apple Inc

1.33 5.8 Mil
Technology

NVIDIA Corp

1.25 5.5 Mil
Technology

UnitedHealth Group Inc

1.19 5.2 Mil
Healthcare

United States Treasury Bonds 1.125%

1.16 5.1 Mil
Government