JMSSX Fees and Costs — JPMorgan SmartRetirement Blend 2045 Fund, Class I
Data updated: 2026-09-11
The net expense ratio is 0.42% (0.61% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $69K in broker commissions, 0.0024% of average net assets, and portfolio turnover was 18%.
JMSSX Fees and Expenses
Annual operating expenses and sales charges of JMSSX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.15% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.35% |
| Gross expense ratio | 0.61% |
| Fee waiver | −0.19% |
| Net expense ratio | 0.42% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
JMSSX Costs Over Time
On $10,000 invested in JMSSX, assuming 5% a year before costs, total costs come to $267 over 5 years, cutting the return by 0.44% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.42%) | $44 | $138 | $242 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $7 | $24 |
| Total costs | $44 | $146 | $267 |
| Value after costs | $10,456 | $11,430 | $12,496 |
| Impact on return, per year | 0.44% | 0.44% | 0.44% |
JMSSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0024%
- Total broker commissions: $69K
- Bought from dealers (principal trades, not a cost): $8.5M
- Portfolio turnover (prospectus): 18%
- Securities on loan, average value: $748
- Net income from securities lending: $76 (0.000% of average net assets)
JMSSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jane Street Capital, LLC | $26K | 39.42% |
| Morgan Stanley & Co. LLC | $10K | 15.34% |
| Citadel Securities LLC | $10K | 15.07% |
| Susquehanna Financial Group, LLLP | $10K | 14.69% |
| BofA Securities, Inc. | $2K | 3.50% |
| Citigroup Global Markets Inc. | $2K | 2.62% |
| Virtu Americas LLC | $2K | 2.45% |
| Goldman Sachs & Co. LLC | $2K | 2.39% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $2K | 2.29% |
| Old Mission Markets LLC | $1K | 2.22% |
JMSSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Bank of Montreal | $3.8M | 44.13% |
| TD SECURITIES (USA) LLC | $3.7M | 44.05% |
| Natwest Markets Securities Inc. | $525K | 6.17% |
| BofA Securities, Inc. | $292K | 3.43% |
| Wells Fargo Securities, LLC | $188K | 2.21% |
JPMorgan SmartRetirement Blend 2045 Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| JMYAX | Class R6 | 0.17% | — |
| JMBRX | Class R5 | 0.27% | — |
| JMSSX | Class I | 0.42% | — |
| JNTLX | Class R4 | 0.42% | — |
| JNTOX | Class R3 | 0.67% | — |
| JNARX | Class R2 | 0.92% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.