TARGET DATE FUNDS CAN’T AFFORD TO BE PASSIVEThe JPMorgan SmartRetirement® Blend target date series combines the best of both worlds — the lower cost of passively-managed strategies and active management in asset classes where we can add the most value. All at a competitive price.
OUR SMARTRETIREMENT® BLEND RESULTS SPEAK FOR THEMSELVES
1 Source: Morningstar; as of 03/31/18. Overall ratings for R6 share class of each fund. Different share classes may have different ratings. Morningstar updates star ratings monthly.
2 Source: Morningstar® Awards 2014. Morningstar, Inc. All rights reserved. The 2014 U.S. Allocation Fund Manager of the Year was awarded to the SmartRetirement team for the management of the JPMorgan SmartRetirement Target Date Series (Institutional shares). Subsequent winners in the Allocation category were not target date funds. In 2015, Michael Reckmeyer and John Keogh won in the Allocation category for Vanguard Wellesley Income Fund. In 2016, the Equity and Fixed Income Investment Policy Committees won the Allocation and Alternatives (combined) category for Dodge & Cox Balanced Fund. Nominations in Morningstar’s Allocation or Allocation/Alternatives categories were announced in 2012, 2014 and 2017.
3 Source: Morningstar. Analyst rating as of 2/1/18 applies to the actively-managed SmartRetirement Funds.
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Target Date Funds
Target date funds are 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.
RISKS ASSOCIATED WITH INVESTING IN THE FUNDS. Certain underlying J.P. Morgan 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. Securities rated below investment grade are called "high yield bonds," "non-investment grade bonds," "below investment-grade bonds," or "junk bonds." They generally are rated in the fifth or lower rating categories of Standard & Poor's and Moody's Investor 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. Real estate funds may be subject to a higher degree of market risk because of concentration in a specific industry, sector or geographical sector. Real estate funds 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.
There may be additional fees or expenses associated with investing in a Fund of Funds strategy.
Index returns are for illustrative purposes only. Mutual funds and ETFs have fees that reduce their performance; indexes do not. You cannot invest directly in an index.
The S&P Target Date Index Series reflects exposure to various asset classes included in target date funds driven by a survey of such funds for each particular target date. These asset class exposures are represented by indices of securities in the index calculation. Prior to May 31, 2017 the asset class exposures were represented by ETFs net of fees. The Index returns are calculated on a daily basis.
The Morningstar Rating,TM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10- year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Rankings do not take sales loads into account.
THE FOLLOWING MORNINGSTAR RATING INFORMATION IS AS OF DECEMBER 31, 2017:
JPMorgan SmartRetirement Blend Income Fund: Overall rating R6 shares; Target-Date Retirement Category; 147 funds. 3-yr. rating, 4 stars; 147 funds. 5-yr. rating, 4 stars; 123 funds. 10-yr. n/a. SmartRetirement Blend 2020 Fund: Overall rating R6 shares; Target Date 2020 Category; 189 funds. 4-yr. rating, 4 stars; 189 funds. 5-yr. rating, 4 stars; 151 funds. 10-yr. n/a. SmartRetirement Blend 2025 Fund: Overall rating R6 shares; Target Date 2025 Category; 166 funds. 3-yr. rating, 4 stars; 166 funds. 5-yr. rating, 4 stars; 132 funds. 10-yr. n/a. SmartRetirement Blend 2030 Fund: Overall rating R6 shares; Target Date 2030 Category; 189 funds. 3-yr. rating, 4 stars; 189 funds. 5-yr. rating, 4 stars; 151 funds. 10-yr. n/a. SmartRetirement Blend 2035 Fund: Overall rating R6 shares; Target Date 2035 Category; 166 funds. 3-yr. rating, 4 stars; 166 funds. 5-yr. rating, 4 stars; 132 funds. 10-yr. n/a. SmartRetirement Blend 2040 Fund: Overall rating R6 shares; Target Date 2040 Category; 189 funds. 3-yr. rating, 4 stars; 189 funds. 5-yr. rating, 4 stars; 151 funds. 10-yr. n/a. SmartRetirement Blend 2045 Fund: Overall rating R6 shares; Target Date 2045 Category; 166 funds. 3-yr. rating, 4 stars; 166 funds. 5-yr. rating, 4 stars; 131 funds. 10-yr. n/a. SmartRetirement Blend 2050 Fund: Overall rating R6 shares; Target Date 2050 Category; 184 funds. 3-yr. rating, 4 stars; 184 funds. 5-yr. rating, 3 stars; 145 funds. 10-yr. n/a. SmartRetirement Blend 2055 Fund: Overall rating R6 shares; Target Date 2055 Category; 159 funds. 3-yr. rating, 4 stars; 159 funds. 5-yr. rating, 3 stars; 101 funds. 10-yr. n/a. SmartRetirement Blend 2060 Fund not yet rated.
J.P. Morgan Funds are distributed by JPMorgan Distribution Services, Inc., which is an affiliate of JPMorgan Chase & Co. Affiliates of JPMorgan Chase & Co. receive fees for providing various services to the funds. JPMorgan Distribution Services Inc. is a member of FINRA/SIPC.
J.P. Morgan Asset Management is the marketing name for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide.