JSAIX Fees and Costs — JPMorgan SmartRetirement 2045 Fund, Class R5
Data updated: 2026-09-11
The net expense ratio is 0.49% (0.50% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $117K in broker commissions, 0.0037% of average net assets, and portfolio turnover was 17%.
JSAIX Fees and Expenses
Annual operating expenses and sales charges of JSAIX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.11% |
| Gross expense ratio | 0.50% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.49% |
| 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 |
JSAIX Costs Over Time
On $10,000 invested in JSAIX, assuming 5% a year before costs, total costs come to $312 over 5 years, cutting the return by 0.52% 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 0.49%) | $51 | $161 | $281 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $52 | $171 | $312 |
| Value after costs | $10,448 | $11,406 | $12,451 |
| Impact on return, per year | 0.52% | 0.52% | 0.52% |
JSAIX 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): 0.0037%
- Total broker commissions: $117K
- Bought from dealers (principal trades, not a cost): $6.0M
- Portfolio turnover (prospectus): 17%
- Securities on loan, average value: $10K
- Net income from securities lending: $294 (0.000% of average net assets)
JSAIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jane Street Capital, LLC | $41K | 36.08% |
| Susquehanna Financial Group, LLLP | $25K | 22.03% |
| Morgan Stanley & Co. LLC | $17K | 14.91% |
| Citadel Securities LLC | $9K | 8.07% |
| Goldman Sachs & Co. LLC | $9K | 7.79% |
| UBS Securities LLC | $4K | 3.37% |
| BofA Securities, Inc. | $3K | 2.78% |
| Flow Traders B.V. | $3K | 2.26% |
| Virtu Americas LLC | $2K | 1.51% |
| Citigroup Global Markets Inc. | $1K | 1.20% |
JSAIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| TD SECURITIES (USA) LLC | $2.8M | 46.46% |
| Bank of Montreal | $2.5M | 42.21% |
| Natwest Markets Securities Inc. | $324K | 5.39% |
| Morgan Stanley & Co. LLC | $208K | 3.47% |
| Nomura Securities International, Inc. | $103K | 1.72% |
| Wells Fargo Securities, LLC | $45K | 0.75% |
JPMorgan SmartRetirement 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 |
|---|---|---|---|
| JSAYX | Class R6 | 0.39% | — |
| JSAIX | Class R5 | 0.49% | — |
| JSAQX | Class R4 | 0.64% | — |
| JSASX | Class I | 0.64% | none |
| JSAAX | Class A | 0.83% | 4.50% |
| JSAPX | Class R3 | 0.89% | — |
| JSAZX | Class R2 | 1.14% | — |
| JSACX | Class C | 1.39% | none |
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.