A strong management team and sound investment process underpin JPMorgan Tax Free Bond I's Morningstar Quantitative Rating of Bronze. The portfolio maintains a cost advantage over competitors, priced within the second-lowest fee quintile among peers.
The longest-tenured portfolio manager's extensive experience drives the strategy's Above Average People Pillar rating. The strategy's investment approach stands out and earns an Above Average Process Pillar rating. The portfolio has underweighted A rated bonds and has an overweight in cash compared with category peers. The strategy belongs to a strong asset-management firm that earns an Above Average Parent Pillar rating. The firm, for example, has had a favorable lineup success ratio and overall low fees.