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JITIX - JPMorgan Intermediate Tax Free Bd Instl

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JPMorgan Intermediate Tax Free Bd Instl (JITIX)
Expense Ratio: 0.51%
Expected Lifetime Fees: $15,982.68


The JPMorgan Intermediate Tax Free Bd Instl fund (JITIX) is a Muni National Interm fund started on 09/10/2001 and has $5.10 billion in assets under management. The current manager has been running JPMorgan Intermediate Tax Free Bd Instl since 07/23/2005. The fund is rated by Morningstar. This fund does not charge 12b-1 fees.

MarketRiders Prefers The Following ETF

Market Vectors Intermediate Muni ETF (ITM)
Expense Ratio: 0.24%
Expected Lifetime Fees: $7,737.49


The Market Vectors Intermediate Muni ETF (ITM) is an Exchange Traded Fund. It is a "basket" of securities that index the Muni National Interm investment strategy and is an alternative to a Muni National Interm mutual fund. Fees are very low compared to a comparable mutual fund like JPMorgan Intermediate Tax Free Bd Instl because computers automatically manage the stocks.




The Following Muni National Interm Funds Have Lower Fees Than JPMorgan Intermediate Tax Free Bd Instl (JITIX). Why are these metrics important?
Mutual Fund Name Ticker Symbol Turnover Assets (M) Annual Fees
AllianceBern Municipal Bd Infl Strat Adv AUNYX 26.0% 444 0.50%
American Century IntermTrm Tx-Fr Bd Inst AXBIX 14.0% 3,500 0.28%
American Century IntermTrm Tx-Fr Bd Inv TWTIX 14.0% 3,500 0.48%
American Funds Ltd-Term Tx-Ex Bd F-2 LTEFX 14.0% 2,900 0.38%
American Funds Tax-Exempt Bond F-2 TEAFX 12.0% 9,300 0.41%
Baird Intermediate Muni Bd Inst BMBIX 8.0% 1,200 0.30%
BNY Mellon Natl Interm Muni Bd M MPNIX 39.9% 1,700 0.50%
Dreyfus/Standish Intermediate T/E Bd I SDITX 27.7% 136 0.45%
DWS Intermediate Tax/AMT Free Inst SZMIX 50.0% 1,700 0.49%
Fidelity Advisor Int Muni Inc I FZIIX 14.0% 4,800 0.44%
Fidelity Intermediate Municipal Income FLTMX 14.0% 4,800 0.40%
Invesco Tax-Free Intermediate Y ATFYX 11.0% 1,500 0.35%
Invesco Van Kampen Int-Term Muni Inc Y VKLIX 16.0% 550 0.50%
JPMorgan Tax Aware Real Return Instl TXRIX 14.0% 3,200 0.50%
Lord Abbett Intermediate Tax Free Fund Class I LAIIX 38.8% 3,400 0.47%
Managers AMG GW&K Municipal Bond Institutional Class GWMIX 26.0% 126 0.35%
Neuberger Berman Municipal Intermediate Bond Fund Institutional Class NMNLX 79.0% 139 0.50%
Northern Intermediate Tax-Exempt NOITX 135.5% 2,200 0.45%
Schwab Tax-Free Bond SWNTX 128.0% 630 0.49%
T. Rowe Price Summit Municipal Interm PRSMX 17.0% 2,100 0.50%
TIAA-CREF Tax-Exempt Bond Inst TITIX 59.0% 360 0.35%
Vanguard High-Yield Tax-Exempt VWAHX 19.0% 7,200 0.20%
Vanguard High-Yield Tax-Exempt Adm VWALX 19.0% 7,200 0.12%
Vanguard Interm-Term Tx-Ex Adm VWIUX 15.0% 35,300 0.12%
Vanguard Interm-Term Tx-Ex Inv VWITX 15.0% 35,300 0.20%
Wells Fargo Advantage Interm T/AmtF Inst WITIX 52.0% 1,600 0.42%



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Why Are These Metrics Important?


Turnover
Turnover represents how much of a mutual fund's holdings are changed over the course of a year through buying and selling. Active mutual funds have an average turnover rate of about 85%, meaning that funds are turning over nearly all of their holdings every year. A high turnover means you could make lower returns because: 1) buying and selling stocks costs money through commissions and spreads and 2) the fund will distribute yearly capital gains which increases your taxes. Look for funds with turnover rates below 50%. For comparison, ETF turnover rates average around 10% or lower.

Assets
Generally, smaller funds do better than larger ones. The more assets in a mutual fund, the lower the chance that it will beat its index. Managers outperform an index by choosing stocks that are undervalued. In order to find these undervalued stocks, the manager has to know more than his competitors to develop an "edge." There are only a finite number of stocks a mutual fund manager can reasonably analyze and actively track to gain such a competitive edge. When the fund has more assets, the manager must analyze large companies because he needs to take larger positions. Large companies are more efficiently priced in the market and it becomes increasingly difficult to get an edge.