Morningstar

JPMorgan Ultra-Short Municipal Fund Class I USMTX

Medalist Rating as of Sep 30, 2026 See JPMorgan Investment Hub

Strategy

The investment seeks as high a level of current income exempt from federal income tax as is consistent with relative stability of principal. Under normal circumstances, the fund invests at least 80% of its net assets in municipal bonds, the income from which is exempt from federal income tax. This is a fundamental policy. For purposes of this policy, “Assets” means net assets, plus the amount of borrowings for investment purposes. The fund invests in a portfolio of municipal bonds with an average weighted maturity of one to five years.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
USMSX	JPMorgan Ultra-Short Municipal Fund Class A	No Load	Limited			May 31, 2016	$114.84M	0.380%	Below Average	$1,000	−$55.72M
USMTX	JPMorgan Ultra-Short Municipal Fund Class I	Institutional	Open			May 31, 2016	$2.69B	0.180%	Low	$1M	$371.58M

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