JPMorgan SmartRetirement Blend 2045 Fund
Target-date 2045 fund
As of its 2026 Q2 report, JPMorgan SmartRetirement Blend 2045 Fund held 16 positions with $3.25B in net assets. Its ten largest holdings made up 97.9% of the fund. The JMSSX share class costs 0.42% a year. Over the 12 months to May 2026, JMSSX returned 26.8%, with dividends reinvested. In 2026 Q2 it added 1 new positions and exited 1.
The Fund seeks high total return with a shift to current income and some capital appreciation over time as the Fund approaches and passes the target retirement date.
The fund invests in a mix of underlying mutual funds and ETFs—primarily J.P. Morgan funds for actively managed strategies and passive ETFs for efficient markets like U.S. large-cap and developed international equities—along with direct securities holdings, to track a target allocation that gradually shifts from equity-heavy toward fixed income as the fund approaches its 2045 target retirement year. The adviser may deviate from stated allocations by up to 15 percent, or beyond that amount if it determines market conditions require larger shifts to reduce risk and preserve capital.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
OGFAXJPMorgan Equity Index Fund | 45.03% | $1.46B | — |
JPMorgan BetaBuilders International Equity ETF | 21.63% | $703.71M | — |
JPMorgan Core Plus Bond Fund | 8.57% | $278.87M | — |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | 5.38% | $175.06M | — |
JPMorgan BetaBuilders Emerging Markets Equity ETF | 4.08% | $132.72M | — |
EMRSXJPMorgan Emerging Markets Research Enhanced Equity Fund | 3.95% | $128.39M | — |
JPMorgan Core Bond Fund | 2.85% | $92.72M | — |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF | 2.65% | $86.29M | — |
JHYUXJPMorgan High Yield Fund | 2.02% | $65.74M | — |
JPMorgan BetaBuilders MSCI US REIT ETF | 1.73% | $56.30M | — |
All 16 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Other | 98.32% |
| Cash & short-term | 1.53% |
| Bonds | 0.14% |
| Derivatives | 0.04% |
Derivatives are shown at market value, not notional exposure.
How it has done
JMSSX share class · total returns with dividends reinvested
Volatility over the last 12 months: 10.98%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 6 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.42% | +26.75% | +69.22% | +56.58% | -9.49% | |
| 0.92% | +26.13% | +66.66% | +52.69% | -9.63% | |
| 0.27% | +26.95% | +69.97% | +57.72% | -9.45% | |
| 0.17% | +27.09% | +70.51% | +58.53% | -9.44% | |
| 0.67% | +26.43% | +67.96% | +54.56% | -9.53% | |
| 0.42% | +26.79% | +69.23% | +56.57% | -9.47% |
These classes hold the same portfolio, so the 5.84pp spread over 5 years is the cost difference between them — roughly 1.17pp a year — not a difference in what they own.
Fees & fund details
JPMorgan SmartRetirement Blend 2045 Fund is a target-date 2045 fund.
- Asset class
- Target-date
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Target year
- 2045
- Features
- Fund of funds
- Expense ratio, by class
- 0.17% – 0.92%· JMSSX 0.42%
- Portfolio turnover
- 18.00% a year · as of 2025 Q4
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
1 new· not itemized for this fund
1 exited· not itemized for this fund
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 100.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Understand how this fund fits with the rest.
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- “Where do my funds overlap — JMSSX, QQQ and the fund in my 401(k)?”
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