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JPMorgan SmartRetirement ® Income Fund - R2 (JSIZX)

JPMorgan SmartRetirement ® Income Fund - R2 (JSIZX)
Overview Performance and Ratings Holdings and Details Management Dividends and Capital Gains Fees and Expenses Sales Resources
Portfolio holdings (as of 2/28/2015)
Core Bond Fund, Class R6 29.1
Disciplined Equity Fund, Class R6 11.7
Prime Money Market Fund, Class Institutional 10.3
Corporate Bond Fund, Class R6 6.4
High Yield Fund, Class R6 5.3
Inflation Managed Bond Fund, Class R6 5.0
Growth Advantage Fund, Class R6 2.9
Value Advantage Fund, Class Institutional 2.8
Realty Income Fund, Class R5 2.5
Intrepid International Fund, Class Institutional 2.5
Real Return Fund, Class Institutional 2.5
International Equity Fund, Class R6 2.4
Intrepid America Fund, Class R5 2.4
International Opportunities Fund, Class R6 2.3
Floating Rate Income Fund, Class R6 2.3
Emerging Markets Debt Fund, Class R6 2.1
Mid Cap Equity Fund, Class R6 1.6
U.S. Equity Fund, Class R6 1.4
SPDR S&P Global Natural Resources ETF 1.0
Emerging Markets Equity Fund, Class R6 0.6
Emerging Markets Local Currency Debt Fund, Class R6 0.6
Emerging Economies Fund, Class R5 0.4
Small Cap Value Fund, Class R6 0.4
Small Cap Equity Fund, Class R5 0.4
U.S. Treasury Notes 0.4
Small Cap Growth Fund, Class R6 0.3
Commodities Strategy Fund, Class R6 0.3

*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 34.5
U.S. Large Cap Equity 19.0
Cash & Equivalents 10.0
High Yield 7.8
Inflation Managed Fixed Income 7.5
International Equity 7.0
U.S. Small/Mid Cap Equity 4.0
Emerging Markets Debt 2.8
REITs 2.5
Emerging Markets Equity 2.0
Global Natural Resources 1.5
Commodities 1.5
Portfolio stats (as of 2/28/2015)
Fund Assets $1.92
(in billions)
Turnover Ratio 11.00%
(Trailing 12 month) (6/30/2014)
Portfolio allocation* (as of 2/28/2015)
Fixed Income 53.8%
Equity 32.2%
Money Market 10.3%
Specialty 2.7%
Exchange Tradeds 1.0%

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

Risk measures* (as of 2/28/2015)
Sharpe Ratio 1.47

*All risk measures are based on a 3 year time period.

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.

Certain underlying funds may invest in foreign/emerging market securities, small capitalization securities and/or high-yield fixed income instruments. There may be unique risks associated with investing in these types of securities. 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.

On 6-20-14, the JPMorgan SmartRetirement 2010 Fund merged with and into the JPMorgan SmartRetirement Income Fund.

Sharpe ratio: A risk-adjusted measure that determines the reward per unit of risk. The numerator is the difference between the Fund's annualized return and the annualized return of the risk-free instrument and the denominator is the Fund's standard deviation. The Sharpe ratio is calculated over a 36-month period based on the Fund's returns. The greater the Fund's Sharpe ratio, the better its risk-adjusted performance has been. A negative Sharpe ratio indicates that a risk-free instrument would perform better than the Fund. The Sharpe ratio shown is based on the Fund's Class A Shares or the oldest share class, where Class A Shares are not available.

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.

Standard deviation: A statistical measure of the degree to which the Fund's returns have varied from its historical average. The higher the standard deviation, the wider the range of returns from its average and the greater the historical volatility. The standard deviation is calculated over a 36-month period based on Fund's monthly returns. The standard deviation shown is based on the Fund's Class A Shares or the oldest share class, where Class A Shares are not available.

Risk measures are calculated based upon the Funds' broad-based index as stated in the prospectus.