1. Where do you think rates are headed?
Falling rates
Range bound
Rising rates
2. What’s your goal?
Income
Capital preservation
Seek income and total return
Extended sectors
Global Bond Opportunities Fund
High Yield Fund
Income Fund
Seek reduced correlations to core holdings
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Core complements
Seek lower volatility and
diversification to equities
Core Bond Fund
Core Plus Bond Fund
Short Duration Core Plus Bond
Core holdings
Answer the 2 questions to see a
potential fixed income strategy.
Download our strategic diversification framework
generates income and may benefit from falling rates.
can provide additional income.
Increased core bond exposure
Moderate exposure to
higher-quality extended sectors
Can provide income and the potential
for returns but may be more volatile.
High yield bonds and bank loans can outperform when rates rise but require frequent evaluation.
Global bonds (both developed and emerging markets debt) could provide gain potential and diversification.
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Can hedge downside risk and reduce volatility.
Absolute return and inflation strategies seek returns with little or no correlation to rates.
Ultra-short strategies seek to reduce portfolio duration and therefore volatility.
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25-35%
10-20%
50-60%
across all three sectors.
increases
income potential.
Broadly diversified
Moderately high exposure
to extended sectors
40-50%
15-25%
30-40%
and provides income while reducing rate sensitivity.
(emphasizing shorter duration) diversifies equity volatility.
Increased exposure to extended
core complements
Some exposure to core bonds
45-55%
30-40%
10-20%
provides stability, diversifies equity volatility and may benefit from falling rates.
decreases credit risk.
Highest exposure to core bonds
Low exposure to extended sectors
10-20%
10-20%
65-75%
across all three sectors.
provides stability and diversification
to equities.
Broadly diversified
Additional exposure to core bonds
25-35%
20-30%
40-50%
can lower overall rate sensitivity and improve stability.
(emphasizing shorter duration) diversifies equity volatility.
Core complements
Moderate exposure to core bonds
30-40%
40-50%
15-25%
Could provide income and diversification to stocks, but rising rates and low yields present challenges.
Active management and broader divers-ification within core portfolios can improve risk-adjusted returns.
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Answer the 2 questions to see a potential fixed income strategy.
ETFs only
Taxable
Municipal
Ultra-Short Income ETF (JPST)
Ultra-Short Municipal Income ETF (JMST)
Inflation Managed Bond ETF (JCPI)
Ultra-Short Municipal Income ETF (JMST)
Tax Aware Real Return Fund
Municipal ETF (JMUB)
Intermediate Tax Free Bond Fund
Core Plus Bond ETF (JCPB)
Municipal ETF (JMUB)
Short Duration Core Plus ETF (JSCP)
International Bond Opportunities ETF (JPIB)**
High Yield Research Enhanced ETF (JPHY)
Income ETF (JPIE)
High Yield Municipal Fund
Tax Free Bond Fund
Download our ETF strategic diversification framework
Read about our municipal bond capabilities
ETF also available:
JPGB
ETF also available:
JCPB
Strategic Income Opportunities Fund
Ultra-Short Income ETF (JPST)
Unconstrained Debt Fund
ETF also available:
JPIE
ETF also available:
JSCP