- ISIN
- US4812A08707
- CUSIP
- 4812A0870
- Issuer
- JPMorgan
- Inception Date
- Dec 22, 1996
- Category
- Municipal Bonds
- Min. Investment
- $1,000,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
JPICX Performance Chart
JPMorgan California Tax Free Bond Fund (JPICX) is up 0.8% since the beginning of the year. JPICX is currently trading at $10 per share. Investors who bought $1,000 worth of JPICX shares 5 years ago would now be looking at an investment worth $1,035.
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Returns By Period
JPMorgan California Tax Free Bond Fund (JPICX) has returned 0.79% so far this year and 4.97% over the past 12 months. Over the last ten years, JPICX has returned 1.43% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
JPMorgan California Tax Free Bond Fund
- 1D
- 0.00%
- 1M
- 0.99%
- YTD
- 0.79%
- 6M
- 0.95%
- 1Y
- 4.97%
- 3Y*
- 2.99%
- 5Y*
- 0.70%
- 10Y*
- 1.43%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
JPICX Monthly Returns History
Based on dividend-adjusted daily data since Dec 23, 1996, JPICX's average daily return is +0.01%, while the average monthly return is +0.28%. At this rate, an investment would double in approximately 20.7 years.
Historically, 63% of months were positive and 37% were negative. The best month was Nov 2023 with a return of +4.5%, while the worst month was Feb 2008 at -3.7%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.
On a daily basis, JPICX closed higher 36% of trading days. The best single day was Mar 25, 2020 with a return of +3.7%, while the worst single day was Mar 12, 2020 at -2.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.75% | 1.05% | -2.27% | 0.80% | 0.38% | 0.10% | 0.79% | ||||||
| 2025 | 0.06% | 0.97% | -1.60% | -0.63% | 0.18% | 0.59% | -0.23% | 0.80% | 1.92% | 0.98% | 0.37% | -0.04% | 3.38% |
| 2024 | -0.07% | 0.14% | -0.06% | -0.93% | -0.25% | 1.17% | 0.86% | 0.76% | 0.85% | -1.33% | 1.25% | -0.85% | 1.51% |
| 2023 | 2.22% | -1.87% | 1.83% | -0.27% | -0.78% | 0.63% | 0.20% | -0.80% | -1.92% | -0.80% | 4.54% | 2.04% | 4.92% |
| 2022 | -2.83% | -0.52% | -2.64% | -2.40% | 1.57% | -1.03% | 2.29% | -1.61% | -2.74% | -0.23% | 3.23% | 0.41% | -6.54% |
| 2021 | 0.30% | -1.87% | 0.40% | 0.72% | 0.13% | 0.04% | 0.77% | -0.25% | -0.80% | -0.16% | 0.50% | 0.13% | -0.12% |
Benchmark Metrics
JPMorgan California Tax Free Bond Fund has an annualized alpha of 3.46%, beta of -0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since December 23, 1996.
- This fund captured 9.38% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -3.55%) - a profile typical of hedging or uncorrelated assets.
- Beta of -0.00 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 3.46%
- Beta
- -0.00
- R²
- 0.00
- Upside Capture
- 9.38%
- Downside Capture
- -3.55%
Expense Ratio
JPICX has an expense ratio of 0.70%, placing it in the medium range.
Return for Risk
Risk / Return Rank
JPICX ranks 60 for risk / return — better than 60% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for JPMorgan California Tax Free Bond Fund (JPICX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| JPICX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.37 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | 2.78 | -0.94 |
| Martin ratioReturn relative to average drawdown | 5.97 | 12.44 | -6.46 |
Dividends
Dividend History
JPMorgan California Tax Free Bond Fund provided a 3.02% dividend yield over the last twelve months, with an annual payout of $0.30 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.30 | $0.30 | $0.30 | $0.26 | $0.20 | $0.17 | $0.19 | $0.25 | $0.29 | $0.29 | $0.28 | $0.34 |
Dividend yield | 3.02% | 3.00% | 3.01% | 2.55% | 2.03% | 1.54% | 1.70% | 2.35% | 2.80% | 2.73% | 2.66% | 3.16% |
Monthly Dividends
The table displays the monthly dividend distributions for JPMorgan California Tax Free Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.03 | $0.03 | $0.00 | $0.03 | $0.03 | $0.00 | $0.11 | ||||||
| 2025 | $0.03 | $0.03 | $0.00 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.30 |
| 2024 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.30 |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.26 |
| 2022 | $0.01 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.20 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.17 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the JPMorgan California Tax Free Bond Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the JPMorgan California Tax Free Bond Fund was 10.59%, occurring on Mar 20, 2020. Recovery took 84 trading sessions.
The current JPMorgan California Tax Free Bond Fund drawdown is 1.01%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -10.59%Mar 2020 | 10d | 4mo 3d | 4mo 13dMar 2020 - Jul 2020 |
Bear market2022 | -10.55%Oct 2022 | 1y 8mo | 1y 11mo | 3y 7moFeb 2021 - Oct 2024 |
Financial crisis2007–2009 | -8.07%Oct 2008 | 8mo 26d | 2mo 24d | 11mo 20dJan 2008 - Jan 2009 |
2016 pullback2016 | -5.53%Dec 2016 | 4mo 27d | 9mo 10d | 1y 2moJul 2016 - Sep 2017 |
2011 pullback2011 | -5.30%Jan 2011 | 4mo 24d | 4mo 15d | 9mo 9dAug 2010 - Jun 2011 |
Drawdown Indicators
| JPICX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.59% | -56.78% | +46.19% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -9.10% | +6.34% |
Max Drawdown (3Y)Largest decline over 3 years | -4.51% | -18.90% | +14.39% |
Max Drawdown (5Y)Largest decline over 5 years | -10.53% | -25.43% | +14.90% |
Max Drawdown (10Y)Largest decline over 10 years | -10.59% | -33.92% | +23.33% |
Current DrawdownCurrent decline from peak | -1.01% | -1.80% | +0.79% |
Average DrawdownAverage peak-to-trough decline | -1.43% | -10.71% | +9.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 2.03% | -1.18% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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