MDRYX — MassMutual RetireSMART by JPMorgan In Retirement Fund

MDRYX Fund Overview

MDRYX — MassMutual RetireSMART by JPMorgan In Retirement Fund is a US mutual fund managed by Massmutual Select Funds, categorised as United States Multi-Cap / All-Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Massmutual Select Funds
• Category: United States Multi-Cap / All-Cap Blend / Core Equity
• Assets under management: $63.29M
• 1-year return: 6.9%
• Ticker: MDRYX
• SEC CIK: 0000916053
• SEC series ID: S000003678
• Share class ID: C000010281

MDRYX Investment Objective and Strategy

MassMutual RetireSMART by JPMorgan In Retirement Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Massmutual Select Funds.

Investment objective

The Fund seeks current income and some capital appreciation.

Principal investment strategy

"The Fund is a ""fund of funds"" and seeks to achieve its investment objective by investing in a combination of U.S. domestic and international mutual funds (""Underlying Funds"") using an asset allocation strategy designed for investors who are retired or expect to retire soon. Underlying Funds will include a combination of MassMutual Select Funds and MassMutual Premier Funds (advised by MML Investment Advisers, LLC (""MML Advisers""), a wholly-owned subsidiary of Massachusetts Mutual Life Insurance Company (""MassMutual"")), Barings Funds (advised by Barings LLC (""Barings""), a wholly-owned, indirect subsidiary of MassMutual), and J.P. Morgan Funds (advised by J.P. Morgan Investment Management Inc. (""J.P. Morgan"") or its affiliates), and may include other, non-affiliated mutual funds.

The Underlying Funds may invest in various asset classes, including equity securities, fixed income securities, and money market instruments. Underlying Funds may also invest some or all of their assets in commodities or commodities-related investments. Non-affiliated Underlying Funds in which the Fund may invest are typically passively managed funds that seek to track the performance of a particular market index, which may be broad-based or relate to a particular sector, market, region, or industry. The Fund is advised by MML Advisers and subadvised by J.P. Morgan . J.P. Morgan has responsibility for determining the Fund's strategic asset allocation and tactical asset allocation. MML Advisers has overall responsibility for the Fund and for implementing those allocations through the selection of, and allocations to, Underlying Funds.

Most of the Fund's assets will typically be invested in mutual funds advised by MML Advisers, J.P. Morgan, or their affiliates, including typically a 15% to 30% allocation to mutual funds advised or subadvised by J.P. Morgan or its affiliates. The Fund's assets are allocated among Underlying Funds according to an asset allocation strategy that emphasizes fixed income and money market funds, but also includes smaller allocations to equity and certain other funds. The Fund is designed for use as part of an overall investment strategy by an investor who is already in retirement or expects to retire soon. The table below shows the Fund's strategic target allocations among asset and sub-asset classes. The table below shows the Fund's strategic target allocations initially established in 2018. Strategic Target Allocations (1) ?

? Fixed Income ? ? ? ? 57.5 % ? ? U.S. Fixed Income Funds ? ? ? ? 37.5 % ? ? Inflation Managed Funds ? ? ? ? 7.5 % ? ? High Yield Funds ? ? ? ? 9.1 % ? ? Emerging Markets Debt Funds ? ? ? ? 3.4 % ? ? Equity ? ? ? ? 36.0 % ? ? U.S. Large Cap Equity Funds ? ? ? ? 15.8 % ? ? U.S. Small/Mid Cap Equity Funds ? ? ? ? 3.7 % ? ? REIT Funds ? ? ? ? 2.2 % ? ? International Equity Funds ? ? ? ? 10.8 % ? ? Emerging Markets Equity Funds ? ? ? ? 3.6 % ? ? Money Market/Cash and Cash Equivalents ? ? ? ? 5.0 % ? ? Money Market Funds/Cash and Cash Equivalents ? ? ? ? 5.0 % ? ? Commodities ? ? ? ? 1.5 % ? ? Commodities Funds ? ? ? ? 1.5 % ? ? ? Note: Above allocations may not sum up to 100% due to rounding. (1) As of September 24, 2018, the Fund utilizes Underlying Funds to implement its strategic target allocations.

? The Fund's actual allocations at any time will likely differ from those shown in the table above due to a number of factors, including, among others, changes made by J.P. Morgan to those strategic target allocations or changes arising from tactical allocations of the Fund's investments, cash flows into and out of the Fund, and appreciation/depreciation of the Fund's investments in different asset classes. In establishing the Fund's strategic target allocations, J.P. Morgan attempts to develop a strategic allocation of the Fund's assets that it believes will outperform the S&P Target Date Retirement Income Index (the Fund's broad benchmark) and peer group over the long term. J.P. Morgan bases the Fund's strategic target allocation on its forward looking, long term capital markets assumptions and other factors it considers appropriate in light of the Fund's investment strategy.

J.P. Morgan may review the Fund's strategic target allocations at any time in its discretion, in light of changes in its forward looking, long term capital markets assumptions and other factors it considers appropriate in light of the Fund's investment strategy, and will in any event review the strategic target allocations at least annually (generally, in the first quarter of each calendar year). J.P. Morgan may adjust the strategic target allocations in its discretion at any time, in response to longer-term considerations, consistent with the Fund's 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.

The changes in the Fund's strategic target allocations in any year will not typically cause the Fund's actual strategic target allocations to vary from the allocations shown in the Fund's Prospectus at the time by more than 5% for the equity, fixed income, money market/cash and cash equivalents, or commodity asset class or any specific sub-asset class. In addition, J.P. Morgan may vary the Fund's allocations from its strategic allocations by making tactical allocations from time to time to take advantage of short- to intermediate-term opportunities or to avoid short- to intermediate-term challenges. These tactical allocations may cause the Fund's asset allocations at any given time to vary from the strategic target allocations shown in the Fund's Prospectus at the time by up to an additional 15% for the fixed income asset class (which may in turn cause the allocation to any fixed income sub-asset class to vary from its target allocation by the same additional amount), 10% for the equity asset class (which may in turn cause the allocation to any equity sub-asset class to vary from its target allocation by the same additional amount), 20% for the money market/cash and cash equivalents asset class (which may in turn cause the allocation to any money market/cash and cash equivalents sub-asset class to vary from its target allocation by the same additional amount), and 5% for the commodity asset class (which may in turn cause the allocation to any commodity sub-asset class to vary from its target allocation by the same additional amount).

The Fund will normally invest most of its assets in Underlying Funds advised by MML Advisers, J.P. Morgan, or their affiliates; the Fund will not normally invest more than 20% of its assets in mutual funds not advised by MML Advisers, J.P. Morgan, or their affiliates (referred to here as ""non-affiliated"" funds). In general, MML Advisers will seek to identify funds advised by MML Advisers, J.P. Morgan, or their affiliates to serve as Underlying Funds (which may include a fund or funds subadvised by J.P. Morgan). MML Advisers will typically invest in non-affiliated funds only to obtain broad passive exposure to one or more asset classes. MML Advisers will select Underlying Funds from among mutual funds advised by it or its affiliates or J.P. Morgan or its affiliates even though they may have higher expense ratios or less favorable historical performance than non-affiliated funds, and MML Advisers will have no obligation to select the least expensive or best performing funds available to serve as Underlying Funds.

In addition, MML Advisers will likely seek to invest assets in funds advised or subadvised by J.P. Morgan or its affiliates in an amount sufficient to ensure an appropriate level of revenue to J.P. Morgan. J.P. Morgan will be subject to a conflict of interest in determining the Fund's assets allocations, because it might expect to benefit financially by allocating the Fund's assets to asset classes where MML Advisers would be likely to invest in mutual funds advised or subadvised by J.P. Morgan or its affiliates. These conflicts of interest may result in a portfolio of Underlying Funds that achieves a level of performance, or incurs higher fees, less favorable to the Fund than if MML Advisers or J.P. Morgan did not consider such factors or was not subject to such conflicts of interest. The table below shows the Fund's expected approximate allocation, as of September 24, 2018, to Underlying Funds in which the Fund invests 5% or more of its assets.

Other Underlying Funds in which the Fund invests are listed under ""Additional Information Regarding Investment Objectives and Principal Investment Strategies"" in the Fund's Prospectus. MML Advisers may modify the selection of Underlying Funds at any time and from time to time, and may invest the Fund's assets in additional or different Underlying Funds, including Funds that may be created in the future. At any given time, the Fund's allocations to Underlying Funds may be affected by a variety of factors (such as, for example, whether an Underlying Fund is accepting additional investments). Actual allocations to Underlying Funds are available in the Fund's shareholder reports and at http://www.massmutual.com/funds from time to time. A brief description of the Underlying Funds is included in Appendix D of the Statement of Additional Information (""SAI"").

? Premier Core Bond (Barings) ? ? ? ? 18.50 % ? ? ? Select Total Return Bond (MetWest) ? ? ? ? 5.94 % ? ? ? Select Strategic Bond (Western Asset) ? ? ? ? 5.94 % ? ? ? Premier Inflation-Protected and Income (Barings) ? ? ? ? 9.00 % ? ? ? Premier High Yield (Barings) ? ? ? ? 7.35 % ? ? ? MM Select Equity Asset (J.P. Morgan) ? ? ? ? 8.53 % ? ? ? JPMorgan U.S. Government Money Market (J.P. Morgan) ? ? ? ? 5.00 % ? ? Through its investments in Underlying Funds, the Fund will be exposed to a wide range of securities and other instruments with differing characteristics (such as credit quality, duration, geography, industry, and market capitalization), which may include without limitation equity securities of small-, mid-, or large-capitalization U.S. or non-U.S. issuers, fixed income securities of U.S.

or non-U.S. private or governmental issuers (including ""junk"" or ""high yield"" bonds, including securities in default), inflation-protected securities, bank loans, and short-term investments of any kind. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, real estate investment trusts (""REITs""), rights, and warrants. An Underlying Fund may engage in foreign currency exchange transactions, including forward contracts, options on currency, futures contracts, and swap contracts, to take long or short positions in foreign currencies in order to enhance its investment return or to attempt to protect against adverse changes in currency exchange rates. An Underlying Fund may be permitted to use a wide variety of additional exchange-traded and over-the-counter derivatives, including options, futures contracts, swap contracts (including interest rate swaps, total return swaps, and credit default swaps), and hybrid instruments.

An Underlying Fund may typically use these derivatives for hedging purposes, as a substitute for direct investments, to earn additional income, to gain exposure to securities or markets in which it might not be able to invest directly, or to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund's portfolio of debt securities. Use of derivatives by an Underlying Fund may create investment leverage. An Underlying Fund may enter into repurchase agreement transactions. An Underlying Fund may invest in mortgage-backed or other asset-backed securities. An Underlying Fund may enter into dollar roll or reverse repurchase agreement transactions.

MDRYX Holdings

Top 10 holdings of MassMutual RetireSMART by JPMorgan In Retirement Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all MDRYX holdings

MDRYX Portfolio Allocation

Asset-class allocation of MassMutual RetireSMART by JPMorgan In Retirement Fund by percentage of net assets, from the latest SEC N-PORT filing.

MDRYX Performance

Total returns for MDRYX (as of 2026-10-01), from SEC filings.

MDRYX Risk Information

Risk metrics for MDRYX, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 6.7%

MDRYX Costs and Fees

MDRYX costs about $79 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.79%
• Gross expense ratio: 1.04%
• Portfolio turnover: 28%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

MDRYX Cashflows

Over the 12 months to 2024-12, MassMutual RetireSMART by JPMorgan In Retirement Fund had net outflows of $13.87M, from monthly SEC N-PORT filings.

MDRYX Debt Constituents

No individual debt constituents are reported in MassMutual RetireSMART by JPMorgan In Retirement Fund's latest SEC N-PORT filing.

MDRYX Prospectus and SEC Filings

Official MassMutual RetireSMART by JPMorgan In Retirement Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2024-02-02
• Prospectus (485BPOS) — filed 2023-01-31
• Prospectus (485BPOS) — filed 2022-01-31
• Portfolio holdings (N-PORT) — filed 2025-02-28
• Portfolio holdings (N-PORT) — filed 2024-11-27
• Portfolio holdings (N-PORT) — filed 2024-08-29
• Annual census (N-CEN) — filed 2024-12-13
• Annual census (N-CEN) — filed 2023-12-13

Related Funds

Other United States Multi-Cap / All-Cap Blend / Core Equity funds tracked on ABC INVEST:

• MFS International Diversification Fund (MDIDX)
• Vanguard Lifestrategy Growth Fund (VASGX)
• Vanguard Lifestrategy Moderate Growth Fund (VSMGX)
• Vanguard Star Fund (VGSTX)
• Eaton Vance Short Duration Strategic Income Fund (ETSIX)

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.