SMTIX Fees and Costs — JPMorgan SmartRetirement 2040 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 $134K in broker commissions, 0.0034% of average net assets, and portfolio turnover was 16%.
SMTIX Fees and Expenses
Annual operating expenses and sales charges of SMTIX. 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 |
SMTIX Costs Over Time
On $10,000 invested in SMTIX, 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% |
SMTIX 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): 0.0034%
- Total broker commissions: $134K
- Bought from dealers (principal trades, not a cost): $7.6M
- Portfolio turnover (prospectus): 16%
- Securities on loan, average value: $139K
- Net income from securities lending: $9K (0.000% of average net assets)
SMTIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jane Street Capital, LLC | $45K | 34.20% |
| Susquehanna Financial Group, LLLP | $29K | 22.02% |
| Morgan Stanley & Co. LLC | $20K | 15.52% |
| Citadel Securities LLC | $12K | 8.98% |
| Goldman Sachs & Co. LLC | $10K | 7.62% |
| UBS Securities LLC | $5K | 3.62% |
| Virtu Americas LLC | $4K | 2.76% |
| BofA Securities, Inc. | $3K | 2.65% |
| Citigroup Global Markets Inc. | $2K | 1.33% |
| Flow Traders B.V. | $2K | 1.30% |
SMTIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| TD SECURITIES (USA) LLC | $3.5M | 45.93% |
| Bank of Montreal | $3.2M | 42.29% |
| Natwest Markets Securities Inc. | $496K | 6.52% |
| Morgan Stanley & Co. LLC | $274K | 3.60% |
| Nomura Securities International, Inc. | $59K | 0.78% |
| Wells Fargo Securities, LLC | $42K | 0.55% |
| BMO Capital Markets Corp. | $25K | 0.33% |
JPMorgan SmartRetirement 2040 Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SMTYX | Class R6 | 0.39% | — |
| SMTIX | Class R5 | 0.49% | — |
| SMTQX | Class R4 | 0.64% | — |
| SMTSX | Class I | 0.64% | none |
| SMTAX | Class A | 0.83% | 4.50% |
| SMTPX | Class R3 | 0.89% | — |
| SMTZX | Class R2 | 1.14% | — |
| SMTCX | 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.