JSMDX Fees and Costs — JPMorgan SmartRetirement Blend 2065 Fund, Class R5
Data updated: 2026-09-11
The net expense ratio is 0.27% (0.87% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $10K in broker commissions, 0.0079% of average net assets, and portfolio turnover was 29%.
JSMDX Fees and Expenses
Annual operating expenses and sales charges of JSMDX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.15% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.60% |
| Gross expense ratio | 0.87% |
| Fee waiver | −0.60% |
| Net expense ratio | 0.27% |
| 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 |
JSMDX Costs Over Time
On $10,000 invested in JSMDX, assuming 5% a year before costs, total costs come to $176 over 5 years, cutting the return by 0.29% 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 0.27%) | $28 | $89 | $156 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $5 | $16 |
| Total costs | $29 | $96 | $176 |
| Value after costs | $10,471 | $11,480 | $12,586 |
| Impact on return, per year | 0.29% | 0.29% | 0.29% |
JSMDX 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): 0.0079%
- Total broker commissions: $10K
- Bought from dealers (principal trades, not a cost): $723K
- Portfolio turnover (prospectus): 29%
- Securities on loan, average value: $2.0M
- Net income from securities lending: $26K (0.021% of average net assets)
JSMDX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jane Street Capital, LLC | $2K | 19.85% |
| Morgan Stanley & Co. LLC | $2K | 17.25% |
| Virtu Americas LLC | $1K | 14.14% |
| Citadel Securities LLC | $1K | 12.81% |
| RBC Capital Markets, LLC | $745 | 8.07% |
| Citigroup Global Markets Inc. | $664 | 7.19% |
| Samuel A. Ramirez & Company, Inc. | $650 | 7.05% |
| Goldman Sachs & Co. LLC | $592 | 6.41% |
| Susquehanna Financial Group, LLLP | $485 | 5.25% |
| Piper Sandler & Co. | $182 | 1.97% |
JSMDX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| TD SECURITIES (USA) LLC | $390K | 53.91% |
| Bank of Montreal | $250K | 34.58% |
| Wells Fargo Securities, LLC | $46K | 6.38% |
| Citigroup Global Markets Inc. | $37K | 5.13% |
JPMorgan SmartRetirement Blend 2065 Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| JSBYX | Class R6 | 0.17% | — |
| JSMDX | Class R5 | 0.27% | — |
| JSBQX | Class R4 | 0.42% | — |
| JSBSX | Class I | 0.42% | — |
| JSBPX | Class R3 | 0.67% | — |
| JSBZX | 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.