JPMorgan New York Tax Free Bond A boasts strong People and Process Pillar ratings, but other weaknesses hold this strategy's Morningstar Quantitative Rating at Neutral. The portfolio maintains a sizable cost advantage over competitors, priced within the second-cheapest fee quintile among peers.
The strategy has been able to retain portfolio managers, which builds stability and continuity and results in an Above Average People Pillar rating. The strategy's investment approach stands out and earns an Above Average Process Pillar rating. The portfolio has overweighted AA rated bonds and debt with 10- to 15-year maturities compared with category peers. The strategy is part of a first-rate parent, as shown by a favorable lineup success ratio and overall attractive fees. These attributes support its Above Average Parent Pillar rating.