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JPMorgan SmartRetirement ® Blend 2020 Fund - R5 (JBSRX)

JPMorgan SmartRetirement ® Blend 2020 Fund - R5 (JBSRX)
Overview Performance and Ratings Holdings and Details Management Dividends and Capital Gains Fees and Expenses Sales Resources
Portfolio holdings (as of 10/31/2015)
Vanguard S&P 500 ETF 27.1
iShares Core U.S. Aggregate Bond ETF 16.4
Core Bond Fund, Class R6 14.8
iShares MSCI EAFE ETF 11.9
High Yield Fund, Class R6 6.0
Realty Income Fund, Class R5 4.0
iShares Russell Mid-Cap ETF 3.7
Corporate Bond Fund, Class R6 3.2
iShares Russell 2000 ETF 2.5
Emerging Markets Debt Fund, Class R6 2.0
Inflation Managed Bond Fund, Class R6 1.6
iShares MSCI Emerging Markets ETF 1.5
Prime Money Market Fund, Class Institutional 1.5
Emerging Markets Equity Fund, Class R6 1.1
Emerging Economies Fund 0.9
Floating Rate Income Fund, Class R6 0.7
iShares Barclays TIPS Bond ETF 0.6
Emerging Markets Local Currency Debt Fund, Class R6 0.4
Commodities Strategy Fund, Class R6 0.1
U.S. Treasury Notes 0.1

*Due to rounding, values may not total 100%. The Fund's actual allocation may differ from the strategic allocation due to periodic tactical changes in the Fund.

Strategic allocation (%)*
U.S. Fixed Income 35.6
U.S. Large Cap Equity 27.3
International Equity 11.4
U.S. Small/Mid Cap Equity 6.3
High Yield 5.2
Emerging Markets Equity 4.6
REITs 4.1
Emerging Markets Debt 2.5
Inflation Managed Fixed Income 2.4
Global Natural Resources 0.4
Commodities 0.4

* Due to rounding, values may not total 100%.

Portfolio stats (as of 10/31/2015)
Fund Assets $157.75
(in millions)
Turnover Ratio 16.53%
(Trailing 12 month) (6/30/2015)
Portfolio allocation* (as of 10/31/2015)
Exchange Tradeds 63.8%
Fixed Income 28.7%
Specialty 4.1%
Equity 2.0%
Money Market 1.5%

* Due to rounding, values may not total 100%.

What's this? Mouse over an  underlined  word to see its definition. Check out our glossary >

The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor.

The JPMorgan SmartRetirement Funds are target date funds with the target date being the approximate date when investors plan to start withdrawing their money. Generally, the asset allocation of each Fund will change on an annual basis with the asset allocation becoming more conservative as the Fund nears the target retirement date. The principal value of the Fund(s) is not guaranteed at any time, including at the target date.

To achieve its strategy, the Fund may invest in other underlying collective trust funds and exchange-traded funds, so the Fund's investment performance is directly related to the performance of the underlying funds. The investment objective of an underlying funds may differ from, and an underlying funds may have different risks than, the Fund. There is no assurance that the underlying funds will achieve their investment objectives. International investing involves increased risk and volatility due to possibilities of currency exchange rate volatility, political, social or economic instability, foreign taxation and differences in auditing and other financial standards. The Fund may invest a portion of its securities in small-cap stocks. Small-capitalization funds typically carry more risk than stock funds investing in well-established "blue-chip" companies since smaller companies generally have a higher risk of failure. Historically, smaller companies' stock has experienced a greater degree of market volatility than the average stock. The Fund may invest in securities that are below investment grade (i.e., "high yield" or "junk bonds") that are generally rated in the fifth or lower rating categories of Standard & Poor's and Moody's Investors Service. Although these securities tend to provide higher yields than higher-rated securities, there is a greater risk that the Fund's share price will decline.

There may be additional fees or expenses associated with investing in a Fund of Funds strategy.

Real estate investing may be subject to a higher degree of market risk because of concentration in a specific industry, sector or geographical sector. Real estate investing may be subject to risks including, but not limited to, declines in the value of real estate, risks related to general and economic conditions, changes in the value of the underlying property owned by the trust and defaults by borrower.

The underlying funds may use derivatives, which are instruments that have a value based on another instrument, exchange rate or index. In addition, the Fund may invest directly in derivatives. Derivatives may be riskier than other types of investments because they may be more sensitive to changes in economic and market conditions and could result in losses that significantly exceed the Fund's or the underlying Funds' original investments. Many derivatives will give rise to a form of leverage. As a result, the Fund or an underlying fund may be more volatile than if the Fund or the underlying Fund had not been leveraged because the leverage tends to exaggerate the effect of any increase or decrease in the value of the Fund's or the underlying Fund's portfolio securities. Derivatives are also subject to the risk that changes in the value of a derivative may not correlate perfectly with the underlying asset, rate or index. The use of derivatives for hedging or risk management purposes or to increase income or gain may not be successful, resulting in losses, and the cost of such strategies may reduce the Fund's or the underlying funds' returns. Derivatives also expose the Fund or the underlying funds to the credit risk of the derivative counterparty.

Asset allocation/diversification does not guarantee investment returns and does not eliminate the risk of loss.

Total return assumes reinvestment of income.

The strategic asset allocation depicts the Fund's targeted weights based on JPMorgan's internal analysis. Strategic allocations are reviewed on at least an annual basis. The strategic asset allocation of most Target Date Funds changes annually to become more conservative.