JIORX — JPMorgan SmartRetirement Blend 2020 Fund
Data updated: 2025-05-28
JIORX — JPMorgan SmartRetirement Blend 2020 Fund. Target Date / Glide Path Allocation · $858.48M AUM. Holdings, fees, performance and SEC filings.
JIORX Fund Overview
JIORX — JPMorgan SmartRetirement Blend 2020 Fund is a US mutual fund managed by JPMorgan Trust I, categorised as Target Date / Glide Path Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: JPMorgan Trust I
- Category: Target Date / Glide Path Allocation
- Assets under management: $858.48M
- 1-year return: 5.6%
- Ticker: JIORX
- SEC CIK: 0001217286
- SEC series ID: S000037364
- Share class ID: C000115329
JIORX Investment Objective and Strategy
JPMorgan SmartRetirement Blend 2020 Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by JPMorgan Trust I.
Investment objective
The Fund seeks high total return with a shift to current income and some capital appreciation over time as the Fund approaches and passes the target retirement date.
Principal investment strategy
The JPMorgan SmartRetirement Blend 2020 Fund is a fund of funds that invests in other mutual funds and exchange traded funds (ETFs) within the same group of investment companies (i.e. J.P. Morgan Funds) and will, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund is generally intended for investors expecting to retire around the year 2020 (the target retirement year). Blend in the Funds name means that the Funds adviser, J.P. Morgan Investment Management Inc. (JPMIM or the Adviser), uses underlying funds and strategies that attempt to replicate performance of various indexes as well as actively-managed underlying funds and strategies.
The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Funds asset allocation strategy will change. The glide path depicted in the chart below shows how the Funds strategic target allocations among asset and sub-asset classes and types of underlying funds generally become more conservative as it nears the target retirement year (i.e., more emphasis on fixed income funds and less on equity funds). The table accompanying the chart is simply the glide path in tabular form. Strategic Target Allocations 1 Years to Target Retirement Date 40+ 35 30 25 20 15 10 5 0 -5 -10 Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0% U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8% U.S.
Small Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7% REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2% International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8% Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6% Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0% U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5% Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0% High Yield Fixed Income Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1% Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4% Money Market Funds/Cash and Cash Equivalents 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0% Money Market Funds/Cash and Cash Equivalents 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0% Note: Above allocations may not sum up to 100% due to rounding.
1 As of the date of this prospectus, the Fund utilizes underlying funds to implement its strategic target allocations although the Fund also has flexibility to utilize direct investments in securities and derivatives to implement its strategic target allocations in the future. The glide path shows the Funds long term strategic target allocations as of the date of this prospectus. The Funds actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Funds strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2020 Index (the Funds benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.
The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available even through there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. In allocating the Funds assets between actively-managed underlying funds and underlying funds which are designed to replicate an index (index funds), the Adviser generally uses passive ETFs for asset classes that are widely regarded as operating in markets where the price of the asset reflects all relevant information that is available about the intrinsic value of the asset (efficient markets).
Examples of efficient markets include US Large Cap Equities, US Small/Mid Cap Equities, and Developed International Equities. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For efficient markets exposure, the Adviser expects to use J.P. Morgan passive ETFs unless the investment is not available. The Adviser will review the Funds strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Funds investment strategy. These changes might include modifying the existing strategic target allocations among the asset and sub-asset classes or, among other things, adding or removing asset and sub-asset classes or maintaining long-term strategic target allocations for longer or shorter periods of time.
Consistent with this strategy, the Funds strategic target allocations shown in the glide path and table above may be different from the Funds actual strategic target allocations by +/-5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/-15% for fixed income, +/-10% for equity, +/-20% for money market/cash and cash equivalents and +/-5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. As a result of the Advisers ability to make these modifications, the Funds actual allocations may differ from what is shown in the glide path and table above.
Updated information concerning the Funds strategic target allocations and actual allocations to underlying funds and investments is available in the Funds shareholder reports and on the Funds website from time to time. The Fund is a to target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Blend Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Blend Income Fund at the discretion of the Funds Board of Trustees. In addition to investing in underlying funds, the Fund may invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures.
The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds. The Adviser may hire sub-advisers to manage any of the asset classes described above and to make direct investments in securities and other financial instruments. When using sub-advisers to manage the Funds assets, the Adviser, subject to certain conditions and oversight by the Funds Board of Trustees, will have the right to hire, terminate, or replace sub-advisers without shareholder approval.
JIORX Holdings
Top 10 holdings of JPMorgan SmartRetirement Blend 2020 Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| JPMorgan Equity Index Fund | 20.45% |
| JPMorgan Core Plus Bond Fund | 10.66% |
| JPMorgan BetaBuilders International Equity ETF | 10.09% |
| JPMorgan High Yield Fund | 5.34% |
| JPMorgan Inflation Managed Bond ETF | 5.16% |
| JPMorgan U.S. Government Money Market Fund | 4.50% |
| JPMorgan BetaBuilders U.S. Aggregate Bond ETF | 4.25% |
| JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | 2.70% |
| JPMorgan Emerging Markets Research Enhanced Equity Fund | 1.88% |
| JPMorgan BetaBuilders Emerging Markets Equity ETF | 1.88% |
JIORX Portfolio Allocation
Asset-class allocation of JPMorgan SmartRetirement Blend 2020 Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Other | 67.8% |
| Securitized | 14.3% |
| Fixed Income | 13.2% |
| Cash & Equivalents | 4.5% |
JIORX Performance
Total returns for JIORX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 5.6% |
| 3 years (annualised) | 3.1% |
| 5 years (annualised) | 5.9% |
JIORX Risk Information
Risk metrics for JIORX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 6.9%
JIORX Costs and Fees
JIORX costs about $92 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.92%
- Gross expense ratio: 3.08%
- Portfolio turnover: 25%
- Brokerage commissions: 0.67 bps of average net assets (SEC N-CEN)
JIORX Cashflows
Over the 12 months to 2025-03, JPMorgan SmartRetirement Blend 2020 Fund had net outflows of $6.72M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2025-03 | −$10.30M |
| 2025-02 | −$14.87M |
| 2025-01 | $19.68M |
| 2024-12 | −$28.32M |
| 2024-11 | −$15.20M |
| 2024-10 | −$14.02M |
JIORX Debt Constituents
Largest debt holdings of JPMorgan SmartRetirement Blend 2020 Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| United States of America | 0.96% |
| United States of America | 0.53% |
| United States of America | 0.51% |
| United States of America | 0.50% |
| United States of America | 0.50% |
| United States of America | 0.35% |
| United States of America | 0.34% |
| United States of America | 0.33% |
| United States of America | 0.27% |
| United States of America | 0.24% |
JIORX Prospectus and SEC Filings
Official JPMorgan SmartRetirement Blend 2020 Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-10-25
- Prospectus (485BPOS) — filed 2023-10-24
- Prospectus (485BPOS) — filed 2022-10-26
- Portfolio holdings (N-PORT) — filed 2025-05-28
- Portfolio holdings (N-PORT) — filed 2025-02-26
- Portfolio holdings (N-PORT) — filed 2024-11-27
- Annual census (N-CEN) — filed 2024-09-13
- Annual census (N-CEN) — filed 2023-09-13
Related Funds
Other Target Date / Glide Path Allocation funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.