JSMEX Fees and Costs — JPMorgan SmartRetirement 2065 Fund, Class A
Data updated: 2026-09-11
The net expense ratio is 0.84% (1.39% before fee waivers). This share class carries a maximum front-end sales load of 4.50%. In fiscal 2026 the fund paid $7K in broker commissions, 0.0054% of average net assets, and portfolio turnover was 19%.
JSMEX Fees and Expenses
Annual operating expenses and sales charges of JSMEX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.74% |
| Gross expense ratio | 1.39% |
| Fee waiver | −0.55% |
| Net expense ratio | 0.84% |
| Sales charges | |
|---|---|
| Max front load | 4.50% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
JSMEX Costs Over Time
On $10,000 invested in JSMEX, assuming 5% a year before costs, total costs come to $1,081 over 5 years, cutting the return by 1.84% 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 |
| Sales charges | $450 | $450 | $450 |
| Fund expenses (net expense ratio 0.84%) | $84 | $263 | $457 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $22 | $84 | $171 |
| Total costs | $557 | $799 | $1,081 |
| Value after costs | $9,943 | $10,777 | $11,682 |
| Impact on return, per year | 5.57% | 2.47% | 1.84% |
JSMEX 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): 0.0054%
- Total broker commissions: $7K
- Bought from dealers (principal trades, not a cost): $583K
- Portfolio turnover (prospectus): 19%
- Securities on loan, average value: $1.0M
- Net income from securities lending: $12K (0.009% of average net assets)
JSMEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jane Street Capital, LLC | $1K | 17.17% |
| Virtu Americas LLC | $1K | 15.72% |
| Goldman Sachs & Co. LLC | $1K | 15.72% |
| Citadel Securities LLC | $898 | 14.07% |
| Morgan Stanley & Co. LLC | $668 | 10.47% |
| RBC Capital Markets, LLC | $607 | 9.50% |
| Samuel A. Ramirez & Company, Inc. | $369 | 5.78% |
| Citigroup Global Markets Inc. | $284 | 4.45% |
| BofA Securities, Inc. | $245 | 3.84% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $208 | 3.26% |
JSMEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| TD SECURITIES (USA) LLC | $216K | 37.06% |
| Bank of Montreal | $162K | 27.76% |
| Natwest Markets Securities Inc. | $80K | 13.82% |
| Morgan Stanley & Co. LLC | $45K | 7.75% |
| Deutsche Bank Securities Inc. | $40K | 6.90% |
| Citigroup Global Markets Inc. | $39K | 6.72% |
JPMorgan SmartRetirement 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 |
|---|---|---|---|
| JSMOX | Class R6 | 0.40% | — |
| JSMMX | Class R5 | 0.50% | — |
| JSMJX | Class I | 0.65% | none |
| JSMLX | Class R4 | 0.65% | — |
| JSMEX | Class A | 0.84% | 4.50% |
| JSMPX | Class R3 | 0.90% | — |
| JSMKX | Class R2 | 1.15% | — |
| JSMHX | Class C | 1.40% | 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.