Fund Evaluator:
JPMorgan Core Plus Bond C (OBDCX)
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Fund Details
JPMorgan Core Plus Bond C Overview
JPMorgan Core Plus Bond C (OBDCX) is an actively managed Taxable Bond Intermediate Core-Plus Bond fund. JPMorgan launched the fund in 2000.
The investment seeks a high level of current income by investing primarily in a diversified portfolio of high-, medium- and low-grade debt securities. The fund will invest at least 80% of its assets in bonds. Under normal conditions, at least 70% of its total assets must be invested in securities that, at the time of purchase, are rated investment grade. The fund’s investments in below investment grade securities or the unrated equivalent including below investment grade foreign securities will not, under normal circumstances, exceed more than 30% of the fund’s total assets. Its average weighted maturity will ordinarily range between five and twenty years.
About JPMorgan Core Plus Bond C (OBDCX)
There are 6 members of the management team with an average tenure of 7.60 years: Kay Herr (2023), Richard Figuly (2006), J. Andrew Norelli (2014), Vikas Pathani (2025), Thomas Hauser (2020), Priya Misra (2024). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. JPMorgan Core Plus Bond C has 2852 securities in its portfolio. The top 10 holdings constitute 13.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
JPMorgan Core Plus Bond C is part of the Fixed Income global asset class and is within the Taxable Bond fund group. JPMorgan Core Plus Bond C has 10.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 93.4% (83.4% domestic bond, 10.0% foreign bond and 0.1% convertible bond). JPMorgan Core Plus Bond C has 6.0% of the portfolio in cash.
Assets Under Management
The fund has $44 million in total assets, which is below the $1 billion average for the Intermediate Core-Plus Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
OBDCX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The JPMorgan Core Plus Bond C expense ratio is high compared to funds in the Intermediate Core-Plus Bond category. JPMorgan Core Plus Bond C has an expense ratio of 1.38%, which is 77% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. JPMorgan Core Plus Bond C has a portfolio turnover rate of 62%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 181% for the Intermediate Core-Plus Bond category.
Recently, in the month of July 2026, JPMorgan Core Plus Bond C returned -1.3%, which earned it a grade of B, as the Intermediate Core-Plus Bond category had an average return of -1.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
JPMorgan Core Plus Bond C has a trailing yield of 4.10%, which is below the 4.36% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
JPMorgan Core Plus Bond C Grades
Year to date, the fund has returned -0.5%, 0.1 percentage points better than the category, which translates into a grade of C. The fund has returned 2.8% over the past year (grade of C), 3.8% over the past three years (grade of D) and -0.5% per year over the past five years (grade of D) and 1.1% per year over the past 10 years (grade of F).
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OBDCX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| OBDCX Return (NAV) | -1.3% | -0.8% | 2.8% | 3.8% | -0.5% | 1.1% |
| OBDCX Grade | B | C | C | D | D | F |
| +/- Category | 0.0% | -0.0% | 0.1% | -0.3% | -0.3% | -0.7% |
| Intermediate Core-Plus Bond Avg | -1.3% | -0.7% | 2.7% | 4.2% | -0.2% | 1.8% |
| OBDCX Tax Cost Ratio | na | na | 1.6% | 1.6% | 1.4% | 1.1% |
OBDCX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| OBDCX Return (NAV) | -0.5% | 7.1% | 1.8% | 5.3% | -13.6% | -1.1% | 7.0% | 7.7% | -1.1% | 3.4% | 3.2% |
| OBDCX Grade | C | D | D | F | C | D | F | F | C | F | D |
| +/- Category | 0.1% | -0.3% | -0.5% | -0.8% | -0.2% | -0.5% | -1.6% | -1.5% | -0.1% | -1.1% | -1.1% |
| Intermediate Core-Plus Bond Avg | -0.6% | 7.3% | 2.3% | 6.1% | -13.4% | -0.6% | 8.6% | 9.1% | -0.9% | 4.4% | 4.3% |
| Risk Measures | |
| Standard Deviation: | 5.7% |
| Total Risk Index: | 0.46 - Low |
| Category Risk Index: | 1.01 - Average |
| Category Risk Grade: | C (52% Rank) |
| Beta: | 1.00 |
| R-Squared: | 99% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Value |
| Bond Investment Style: | na |
| Yield: | 4.1% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $25186 Mil |
| Fund Total Assets: | $ 44 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 62% |
Management Team
| Number of Managers: 6 | |||
| Longest Tenure: 20.2 years | |||
| Average Tenure: 7.6 years | |||
| Managers (Year): Figuly Richard (2006), Norelli J. Andrew (2014), Hauser Thomas (2020), Herr Kay (2023), Misra Priya (2024), Pathani Vikas (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 2852 |
| % in Top 10 Holdings: | 13.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 10.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.4% |
| Domestic Bond: | 83.4% |
| Foreign Bond: | 10.0% |
| Convertible Bond: | 0.1% |
| Other: | 0.0% |
| Cash: | 6.0% |
Purchase Information
| Fund Family: | JPMorgan |
| Phone Number: | 800-480-4111 |
| Website: | www.jpmorganfunds.com |
| Status: | Open |
| Inception Date: | May 30, 2000 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.75% |
Expenses and Fees | |
| Expense Ratio (%): | 1.38% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.78% |
| Share Class: | JPMorgan Core Plus Bond I |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 0 |
