# Product Snapshot - JPMorgan Emerging Markets Equity Fund

> Audience: country=us, language=en, role=adv.
> Generated: 2026-10-22T23:51:03.614876745Z.

## Identity

- **Fund Name**: JPMorgan Emerging Markets Equity Fund
- **Share Class Name**: JPMorgan Emerging Markets Equity Fund-R5
- **Product Page**: [Product Page](https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-emerging-markets-equity-fund-r5-48127b466)
- **Ticker Symbol**: JEMOX
- **CUSIP**: 48127B466
- **Fund Type**: MUTUAL FUND
- **Asset Class**: International Equity

## Media

### Designed to provide high total return from a portfolio of emerging market equity securities

- Invests in companies from emerging markets around the world
- Leverages a global network of country specialists to uncover the most promising investment opportunities
- Seeks to add value primarily through security selection - decisions about country weightings are secondary



## Fund Facts

- **Ticker**: JEMOX
- **CUSIP**: 48127B466
- **Share Class Number**: 2364
- **Asset Class**: International Equity
- **Fund Inception Date**: 11/15/1993
- **Share Class Inception Date**: 09/09/2016
- **ESG Approach**: Integrated [Disclosure 1]

## Fund Stats

- **NAV  As of 10/22/2026**: $48.47
- **NAV Change ($) As of 10/22/2026**: $-1.68
- **NAV Change (%) As of 10/22/2026**: -3.35%
- **Fund Assets As of 10/22/2026**: $9.62bn
- **Number of Holdings As of 09/30/2026**: 80
- **YTD  As of 10/22/2026**: 15.57%

## Fees & Charges

### Fees

- **Gross Expenses**: 0.92%
- **Net Expenses**: 0.84%
 [Disclosure 2]

## Portfolio Managers

### Leon Eidelman

- **Biography**: [Biography](https://am.jpmorgan.com/us/en/asset-management/adv/bios/leon-eidelman/)
- **In the industry**: 24 years
- **With J.P. Morgan**: 24 years
- **Managing this fund**: 13 years

### Austin  Forey

- **Biography**: [Biography](https://am.jpmorgan.com/us/en/asset-management/adv/bios/austin-forey/)
- **In the industry**: 38 years
- **With J.P. Morgan**: 38 years
- **Managing this fund**: 21 years

### John Citron

- **Biography**: [Biography](https://am.jpmorgan.com/us/en/asset-management/adv/bios/john-citron/)
- **In the industry**: 17 years
- **With J.P. Morgan**: 17 years
- **Managing this fund**: 1 year

### Amit Mehta

- **Biography**: [Biography](https://am.jpmorgan.com/us/en/asset-management/adv/bios/amit-mehta/)
- **In the industry**: 26 years
- **With J.P. Morgan**: 15 years
- **Managing this fund**: 13 years

## Ratings

### Morningstar Overview Ratings

- **Category: **: Diversified Emerging Mkts
- **As of **: 09/30/2026
- **Overall**: 3 of 5 stars
- **Funds in Category**: 689 Funds in Category
- **3 Year**: 4 of 5 stars
- **Funds in Category**: 689 Funds in Category
- **5 Year**: 2 of 5 stars
- **Funds in Category**: 629 Funds in Category
- **10 Year**: 4 of 5 stars
- **Funds in Category**: 467 Funds in Category
 [Disclosure 3]

### Morningstar Overview Ranking

- **Category: **: Diversified Emerging Mkts
- **As of **: 09/30/2026
- **1 Year**: Rank 212
- **Funds in Category**: 724 Funds in Category
- **Group Percentile**: 32%
- **3 Year**: Rank 181
- **Funds in Category**: 689 Funds in Category
- **Group Percentile**: 24%
- **5 Year**: Rank 399
- **Funds in Category**: 629 Funds in Category
- **Group Percentile**: 71%
- **10 Year**: Rank 81
- **Funds in Category**: 467 Funds in Category
- **Group Percentile**: 16%
 [Disclosure 4]

### Morningstar Medalist Rating

- **Morningstar Medalist Rating™**: Gold
- **As of **: 04/25/2026
- **Category: **: Diversified Emerging Mkts
- **Analyst-Driven %: **: 100
- **Data Coverage %: **: 100
 [Disclosure 5]

### Lipper Rankings: Emerging Markets Funds

- **As of**: 09/30/2026
- **1 Year**: Rank 213
- **Funds in Category**: 702 Funds in Category
- **Group Percentile**: 31%
- **3 Year**: Rank 188
- **Funds in Category**: 669 Funds in Category
- **Group Percentile**: 29%
- **5 Year**: Rank 394
- **Funds in Category**: 612 Funds in Category
- **Group Percentile**: 65%
- **10 Year**: Rank 81
- **Funds in Category**: 449 Funds in Category
- **Group Percentile**: 18%
 [Disclosure 6]

## Portfolio

### Portfolio Stats

- **Number of Holdings** (As of 09/30/2026): 80
- **Fund Assets** (As of 09/30/2026): $10.45bn
- **Turnover Ratio (Trailing 12 month) (10/31/2025)**: 55.00%
- **Wtd. Avg. Market Cap**: $541.73bn
- **Median Market Cap**: $31.16bn
- **P/B Ratio**: 3.82 [Disclosure 7]
- **P/E Ratio (1 yr. forecast)**: 11.86 [Disclosure 8]
- **P/E Ratio (1 yr. trailing)**: 16.81 [Disclosure 9]


### Top 10 Holdings

_As of 09/30/2026_

| Holding | Weight |
| --- | ---: |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 14.0% |
| Samsung Electronics Co. Ltd. | 8.1% |
| SK Hynix, Inc. | 4.5% |
| Tencent Holdings Ltd. | 3.2% |
| SK Square Co. Ltd. | 3.0% |
| MediaTek, Inc. | 2.4% |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 2.3% |
| Hanwha Aerospace Co. Ltd. | 2.2% |
| Banco BTG Pactual SA | 2.0% |
| Banco Bilbao Vizcaya Argentaria SA | 1.7% |
| Total of top 10 | 43.4% |
 [Disclosure 10]

### Sector Breakdown

_As of 09/30/2026_

| Sector | Fund | Index |
| --- | ---: | ---: |
| Communication Services | 5.4% | 5.9% |
| Consumer Discretionary | 7.0% | 7.4% |
| Consumer Staples | 1.1% | 2.6% |
| Energy | 3.1% | 3.4% |
| Financials | 19.6% | 19.3% |
| Health Care | 1.4% | 2.7% |
| Industrials | 14.3% | 6.3% |
| Information Technology | 41.3% | 43.7% |
| Materials | 2.6% | 5.8% |
| Other | 0.0% | 0.1% |
| Real Estate | 1.8% | 1.0% |
| Utilities | 2.3% | 1.9% |
 [Disclosure 11]

### Risk Measures

_As of 09/30/2026_

| Risk Measures | Risk Measures |
| --- | ---: |
| Alpha | 0.34 |
| Beta | 0.90 |
| Sharpe Ratio | 1.25 |
| Standard Deviation | 16.39 |
| Tracking Error | 5.51 |
| R-squared | 90.00 |
 [Disclosure 12]

### Country Breakdown

_As of 09/30/2026_

| Country | Country Breakdown |
| --- | ---: |
| Taiwan | 26.0% |
| South Korea | 20.6% |
| China | 14.8% |
| Brazil | 10.9% |
| India | 9.3% |
| Hong Kong | 2.5% |
| Argentina | 2.2% |
| Mexico | 1.8% |
| United Arab Emirates | 1.8% |
| Other | 10.1% |
 [Disclosure 11]

## Commentary

**As of **: 09/30/2026

### Topline

Benchmark MSCI Emerging Markets Index

Markets The third quarter was challenging for emerging markets, as higher bond yields, a stronger U.S. dollar and energy-price volatility weighed on sentiment. South Korea and Taiwan outperformed, supported by resilient semiconductor earnings and AI-related demand. China was mixed, with technology strength offsetting weakness in domestic demand and property, while higher real yields pressured growth-oriented segments late in the quarter.

Helped Stock selection in consumer discretionary and overweight exposure in Brazil.

Hurt Stock selection in China and Information technology.

Outlook A softer USD, persistent fiscal deficits and a multiyear AI and infrastructure CapEx cycle continue to support earnings growth and provide a constructive backdrop for emerging markets (EM) equities. Most EM economies outside China remain in an inflationary boom favoring industrials, defense and commodities, while North Asia remains central to the AI supply chain. Energy prices, interest rates and geopolitics remain key near-term risks.

### Quarter in Review

The JPMorgan Emerging Markets Equity Fund (I Class Shares) underperformed the benchmark, the MSCI Emerging Markets Index (net of foreign withholding taxes), for the quarter ended September 30, 2026.

Stock selection in information technology detracted from performance. A correction across AI-related hardware and semiconductor supply chains weighed on SK Hynix, a memory manufacturer from South Korea, and Accton Technology, a Taiwanese networking equipment supplier. For the latter, uncertainty around the pace of AI networking demand weighed on sentiment despite continued strength in recent deployments.

Stock selection in China detracted from performance, led by overweight exposure to CATL, the world’s largest electric vehicle and energy-storage battery manufacturer. The stock weakened amid concerns around intensifying competition, margin pressure and a less supportive policy backdrop, despite continued growth across its power-battery and energy-storage businesses.

Overweight exposure in Brazil, the result of stock selection, contributed to performance. Embraer outperformed, driven by strong results that included margin expansion and major contract wins for defense projects. Additionally, Banco BTG Pactual reported record results across a diversified business model.

Stock selection in consumer discretionary contributed through an overweight exposure to Loncin Motor in China. The stock benefited from improvement in the core motorcycle business, including positive, year-over-year motorcycle sales, as well as international expansion plans and margin initiatives linked to new products.

### Looking Ahead

A weaker dollar remains a key support for emerging markets, and we continue to believe in a multiyear dollar bear cycle. Persistent fiscal deficits, reshoring of supply chains and still-accommodative financial conditions continue to support nominal growth, while most EM economies outside China remain in an inflationary boom. However, interest rates, energy prices and geopolitical developments remain important near-term risks.

North Asia remains central to the AI supply chain, with the memory upcycle intact and the broader AI and infrastructure CapEx cycle continuing to support earnings growth. While market leadership remains concentrated, and valuations have become more demanding in parts of the ecosystem, we continue to find attractive opportunities across complementary beneficiaries of AI adoption, while maintaining valuation discipline.

China remains a two-speed market, with domestic consumption and property remaining subdued, while export-oriented industries and large parts of the technology ecosystem remain resilient. Policymakers continue to focus on self-sufficiency, innovation and shareholder returns, while opportunities are emerging across technology, industrial upgrading and domestic champions benefiting from localization trends.

The portfolio continues to be positioned to benefit from the secular growth in emerging market consumption, including increasing penetration of financial products in under-banked markets. Technology remains the portfolio’s largest sector exposure, while industrials and financials are significant overweights.

## Documents

- [Factsheet: JPMorgan Emerging Markets Equity Fund (R5)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fact-sheet/international-equity/FS-EME-R5.PDF)
- [Commentary: Emerging Markets Equity Fund](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/commentary/FC-EME.PDF)
- [Section 19a Notice - December 2025](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/section-19-notices/section-19a-notice-aa-funds-12-2025.pdf)
- [Supplemental Data Sheet - Emerging Markets Equity Fund (Quarterly)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/mfdp/MFDP-EME-1.pdf)
- [Summary Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/48127B466/SP?site=JPMorganv3)
- [Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/48127B466/P?site=JPMorganv3)
- [Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/48127B466/AR?site=JPMorganv3)
- [Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/48127B466/NCSR?site=JPMorganv3)
- [Semi-Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/48127B466/SAR?site=JPMorganv3)
- [Semi-Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/48127B466/NCSRS?site=JPMorganv3)
- [First Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/48127B466/QH1?site=JPMorganv3)
- [Third Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/48127B466/QH3?site=JPMorganv3)
- [Statement of Additional Information](https://am.jpmorgan.com/JPMorgan/TVT/48127B466/S?site=JPMorganv3)
- [Annual Report Of Proxy Voting](https://am.jpmorgan.com/JPMorgan/TVT/48127B466/NPX?site=JPMorganv3)

## Disclosures

1. This Fund considers financially material environmental, social and governance ("ESG") factors as part of the Fund's investment process. In actively managed assets deemed by J.P. Morgan Asset Management to be ESG integrated under our governance process, we systematically assess financially material ESG factors amongst other factors in our investment decisions with the goals of managing risk and improving long-term returns. ESG integration does not change a strategy's investment objective, exclude specific types of companies or constrain a strategy's investable universe.

2. The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation and extraordinary expenses) exceed 0.840% of the average daily net assets. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser has contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the fees and expenses of the affiliated money market funds incurred by the Fund because of the Fund's investment in such money market funds. These waivers are in effect through 2/28/2027, at which time the adviser will determine whether to renew or revise it. The difference between net and gross fees includes all applicable fee waivers and expense reimbursements.

3. Overall Morningstar RatingTM for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics.

4. The ranking information is provided by Morningstar. Past performance is no guarantee of future results. Rankings are calculated based upon the total returns of multiple share classes within their respective Morningstar category. Different share classes may have different rankings.

5. The Morningstar Medalist RatingTM is a summary expression of Morningstar's forward-looking analysis of investment strategies using a rating scale of Gold, Silver, Bronze, Neutral and Negative. Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. Products are evaluated on three key pillars (People, Parent, and Process) which, when coupled with fees, forms the basis for Morningstar's conviction in those products' investment merits and determines the Medalist Rating assigned. Products are sorted by expected performance into rating groups defined by their Morningstar Category and their active or passive status. Analyst-covered products are assigned the three pillar ratings based on the analyst's qualitative assessment, subject to the Analyst Rating Committee's oversight, monitored and reevaluated at least every 14 months. Ratings are assigned monthly for vehicles covered either indirectly by analysts or by algorithm. For more detailed information including methodology, please go to global.morningstar.com/managerdisclosures.Ratings and rankings should not be used as the sole basis in evaluating an investment product and should not be considered an offer or solicitation to buy or sell the investment product.©2026Morningstar Inc. All rights reserved. Morningstar information is proprietary to Morningstar and/or its content providers, may not be copied or distributed and is not warranted to be accurate, complete or timely.

6. The ranking information is provided by Lipper Analytical Services. Past performance is no guarantee of future results. Rankings are calculated based upon the total returns of multiple share classes within their respective Lipper category. Different share classes may have different rankings.

7. P/B ratio is the relationship between a stock's price and the book value of that stock.

8. The number by which earnings per share is multiplied to estimate a stock's value based on the forecasted earnings for the next 12 months.

9. The number by which earnings per share is multiplied to estimate a stock's value based on the actual earnings over the last 12 months.

10. The top 10 holdings listed exclude cash and money markets. Holdings are subject to change. The holdings listed should not be considered recommendations to purchase or sell a particular security. Each individual security is calculated as a percentage of the aggregate market value of the securities held in the Fund and does not include the use of derivative positions, where applicable.

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

12. All risk measures are based on a 3 year time period. Risk measures are calculated based upon the broad-based index as stated in the prospectus.