0001193125-18-320576.txt : 20181107 0001193125-18-320576.hdr.sgml : 20181107 20181107123610 ACCESSION NUMBER: 0001193125-18-320576 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 118 FILED AS OF DATE: 20181107 DATE AS OF CHANGE: 20181107 EFFECTIVENESS DATE: 20181123 FILER: COMPANY DATA: COMPANY CONFORMED NAME: JPMorgan Trust I CENTRAL INDEX KEY: 0001217286 IRS NUMBER: 331043149 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-103022 FILM NUMBER: 181165387 BUSINESS ADDRESS: STREET 1: C/O JPMORGAN DISTRIBUTION SERVICES, INC. STREET 2: 270 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 800-480-4111 MAIL ADDRESS: STREET 1: C/O JPMORGAN DISTRIBUTION SERVICES, INC. STREET 2: 270 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 FORMER COMPANY: FORMER CONFORMED NAME: JP MORGAN MUTUAL FUND SERIES DATE OF NAME CHANGE: 20030204 FILER: COMPANY DATA: COMPANY CONFORMED NAME: JPMorgan Trust I CENTRAL INDEX KEY: 0001217286 IRS NUMBER: 331043149 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-21295 FILM NUMBER: 181165386 BUSINESS ADDRESS: STREET 1: C/O JPMORGAN DISTRIBUTION SERVICES, INC. STREET 2: 270 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 800-480-4111 MAIL ADDRESS: STREET 1: C/O JPMORGAN DISTRIBUTION SERVICES, INC. STREET 2: 270 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 FORMER COMPANY: FORMER CONFORMED NAME: JP MORGAN MUTUAL FUND SERIES DATE OF NAME CHANGE: 20030204 0001217286 S000011871 JPMorgan SmartRetirement Income Fund C000032433 Class A JSRAX C000032434 Class C JSRCX C000032435 Class I JSRSX C000032436 Class R5 JSIIX C000070627 Class R2 JSIZX C000148425 Class R6 JSIYX C000169479 Class R3 JSIPX C000169480 Class R4 JSIQX C000185984 Class T 0001217286 S000011874 JPMorgan SmartRetirement 2020 Fund C000032445 Class A JTTAX C000032446 Class C JTTCX C000032447 Class I JTTSX C000032448 Class R5 JTTIX C000070630 Class R2 JTTZX C000148427 Class R6 JTTYX C000169483 Class R3 JTTPX C000169484 Class R4 JTTQX C000185985 Class T 0001217286 S000011875 JPMorgan SmartRetirement 2030 Fund C000032449 Class A JSMAX C000032450 Class C JSMCX C000032451 Class I JSMSX C000032452 Class R5 JSMIX C000070631 Class R2 JSMZX C000148428 Class R6 JSMYX C000169485 Class R3 JSMNX C000169486 Class R4 JSMQX C000185986 Class T 0001217286 S000011876 JPMorgan SmartRetirement 2040 Fund C000032453 Class A SMTAX C000032454 Class C SMTCX C000032455 Class I SMTSX C000032456 Class R5 SMTIX C000070632 Class R2 SMTZX C000148429 Class R6 SMTYX C000169487 Class R4 SMTQX C000169488 Class R3 SMTPX C000185987 Class T 0001217286 S000018065 JPMorgan SmartRetirement 2025 Fund C000050048 Class A JNSAX C000050049 Class C JNSCX C000050050 Class I JNSSX C000050051 Class R5 JNSIX C000070633 Class R2 JNSZX C000148430 Class R6 JNSYX C000169489 Class R3 JNSPX C000169490 Class R4 JNSQX C000185989 Class T 0001217286 S000018066 JPMorgan SmartRetirement 2035 Fund C000050052 Class A SRJAX C000050053 Class C SRJCX C000050054 Class I SRJSX C000050055 Class R5 SRJIX C000070634 Class R2 SRJZX C000148431 Class R6 SRJYX C000169491 Class R3 SRJPX C000169492 Class R4 SRJQX C000185990 Class T 0001217286 S000018067 JPMorgan SmartRetirement 2045 Fund C000050056 Class C JSACX C000050057 Class I JSASX C000050058 Class R5 JSAIX C000050059 Class A JSAAX C000070635 Class R2 JSAZX C000148432 Class R6 JSAYX C000169493 Class R3 JSAPX C000169494 Class R4 JSAQX C000185991 Class T 0001217286 S000018068 JPMorgan SmartRetirement 2050 Fund C000050060 Class A JTSAX C000050061 Class C JTSCX C000050062 Class I JTSSX C000050063 Class R5 JTSIX C000070636 Class R2 JTSZX C000148433 Class R6 JTSYX C000169495 Class R3 JTSPX C000169496 Class R4 JTSQX C000185992 Class T 0001217286 S000026373 JPMorgan Access Growth Fund C000079200 Class A JXGAX C000079201 Class I JXGSX C000079202 Class L JXGIX C000082417 Class C JXGCX 0001217286 S000026374 JPMorgan Access Balanced Fund C000079203 Class A JXBAX C000079204 Class I JXBSX C000079205 Class L JXBIX C000082418 Class C JXBCX 0001217286 S000035832 JPMorgan SmartRetirement 2055 Fund C000109814 Class A JFFAX C000109815 Class C JFFCX C000109816 Class I JFFSX C000109817 Class R2 JFFRX C000109818 Class R5 JFFIX C000148434 Class R6 JFFYX C000169497 Class R3 JFFPX C000169498 Class R4 JFFQX C000186000 Class T 0001217286 S000054775 JPMorgan SmartRetirement 2060 Fund C000172118 Class A JAKAX C000172119 Class C JAKCX C000172120 Class I JAKSX C000172121 Class R5 JAKIX C000172122 Class R2 JAKZX C000172123 Class R3 JAKPX C000172124 Class R4 JAKQX C000172125 Class R6 JAKYX C000186003 Class T 485BPOS 1 d624901d485bpos.htm JPMORGAN TRUST I JPMorgan Trust I

As filed with the Securities and Exchange Commission on November 7, 2018

Securities Act File No. 333-103022

Investment Company Act File No. 811-21295

 

 

 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM N-1A

    

 

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

  
  Pre-Effective Amendment No.   
  Post-Effective Amendment No. 572   

and/or

 

 

REGISTRATION STATEMENT

UNDER

THE INVESTMENT COMPANY ACT OF 1940

  
  Amendment No. 573   
  (Check appropriate box or boxes)   

 

 

JPMORGAN TRUST I

(Exact Name of Registrant Specified in Charter)

 

 

270 Park Avenue

New York, New York, 10017

(Address of Principal Executive Offices)

Registrant’s Telephone Number, Including Area Code: (800) 480-4111

Gregory S. Samuels, Esq.

J.P. Morgan Investment Management Inc.

270 Park Avenue

New York, NY 10017

(Name and Address of Agent for Service)

 

 

With copies to:

 

Carmine Lekstutis, Esq.   Jon S. Rand, Esq.
JPMorgan Chase & Co.   Dechert LLP
270 Park Avenue   1095 Avenue of the Americas
New York, NY 10017   New York, NY 10036

 

 

It is proposed that this filing will become effective (check appropriate box):

 

 

immediately upon filing pursuant to paragraph (b)

 

60 days after filing pursuant to paragraph (a)(1)

 

75 days after filing pursuant to paragraph (a)(2)

 

on (date) pursuant to paragraph (b).

 

on pursuant to paragraph (a)(1).

 

on (date) pursuant to paragraph (a)(2).

If appropriate, check the following box:

 

 

The post-effective amendment designates a new effective date for a previously filed post-effective amendment.

 

 

 


EXPLANATORY NOTE

This Post-Effective Amendment No. 572 relates to the following funds:

JPMorgan SmartRetirement Funds

JPMorgan SmartRetirement® Income Fund

JPMorgan SmartRetirement® 2020 Fund

JPMorgan SmartRetirement® 2025 Fund

JPMorgan SmartRetirement® 2030 Fund

JPMorgan SmartRetirement® 2035 Fund

JPMorgan SmartRetirement® 2040 Fund

JPMorgan SmartRetirement® 2045 Fund

JPMorgan SmartRetirement® 2050 Fund

JPMorgan SmartRetirement® 2055 Fund

JPMorgan SmartRetirement® 2060 Fund

JPMorgan Access Funds

JPMorgan Access Balanced Fund

JPMorgan Access Growth Fund


SIGNATURE

Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant, JPMorgan Trust I, certifies that it meets all the requirements for effectiveness of the Registration Statement under Rule 485(b) under the Securities Act of 1933 and has duly caused this Post-Effective Amendment to the Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of New York and State of New York on the 7th day of November, 2018.

 

JPMORGAN TRUST I

By:  

    BRIAN S. SHLISSEL*        

  Brian S. Shlissel
  President and Principal Executive Officer

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed below by the following persons in the capacities indicated on November 7, 2018.

 

   
   

JOHN F. FINN*

   

PETER C. MARSHALL*

John F. Finn

Trustee

   

Peter C. Marshall

Trustee

STEPHEN FISHER*

   

MARY E. MARTINEZ*

Stephen Fisher

Trustee

   

Mary E. Martinez

Trustee

 

   

MARILYN MCCOY*

Kathleen M. Gallagher

Trustee

   

Marilyn McCoy

Trustee

DR. MATTHEW GOLDSTEIN*

   

MITCHELL M. MERIN*

Dr. Matthew Goldstein

Trustee

   

Mitchell M. Merin

Trustee

DENNIS P. HARRINGTON*

   

ROBERT A. ODEN, JR.*

Dennis P. Harrington

Trustee

   

Robert A. Oden, Jr.

Trustee

FRANKIE D. HUGHES*

   

MARIAN U. PARDO*

Frankie D. Hughes

Trustee

   

Marian U. Pardo

Trustee

RAYMOND KANNER*

   

JAMES J. SCHONBACHLER*

Raymond Kanner

Trustee

 

        

 

James J. Schonbachler

Trustee

By  

TIMOTHY J. CLEMENS*

    By   BRIAN S. SHLISSEL*
 

Timothy J. Clemens

Treasurer and Principal Financial Officer

     

Brian S. Shlissel

President and Principal Executive Officer

   
*By  

/S/  CARMINE LEKSTUTIS

     
  Carmine Lekstutis      
  Attorney-in-Fact      


Exhibit Index

 

Exhibit Number            Description
EX-101.INS    XBRL Instance Document
EX-101.SCH    XBRL Taxonomy Extension Schema Document
EX-101.CAL    XBRL Taxonomy Extension Calculation Linkbase
EX-101.DEF    XBRL Taxonomy Extension Definition Linkbase
EX-101.LAB    XBRL Taxonomy Extension Labels Linkbase
EX-101.PRE    XBRL Taxonomy Extension Presentation Linkbase


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jpmt:LSharesMember jpmt:S000026373Member jpmt:AccessGrowthCompositeBenchmarkMember 2018-11-01 2018-11-01 0001217286 jpmt:LSharesMember jpmt:S000026373Member jpmt:WorldIndexMember 2018-11-01 2018-11-01 0001217286 jpmt:LSharesMember jpmt:S000026373Member jpmt:BloombergBarclaysGlobalAggregateMember 2018-11-01 2018-11-01 0001217286 jpmt:LSharesMember jpmt:S000026373Member jpmt:SpFiveIndexMember 2018-11-01 2018-11-01 pure iso4217:USD 2018-11-01 485BPOS 2018-06-30 JPMorgan Trust I 0001217286 false 2018-10-25 2018-11-01 <b>JPMorgan SmartRetirement<sup>&#174;</sup> Income Fund<br/>Class/Ticker: A/JSRAX; C/JSRCX; I/JSRSX</b> <b>What is the goal of the Fund? </b> The Fund seeks current income and some capital appreciation. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in &#8220;Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION&#8221; on page 96 and in &#8220;Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in &#8220;PURCHASES, REDEMPTIONS AND EXCHANGES&#8221; in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES<br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b> <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE: </b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 23% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> Income Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors who are retired or about to retire soon. The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, with an emphasis on fixed income funds over equity funds and other funds. The Fund&#8217;s strategic target allocations among various asset and sub-asset classes as of November 1, 2018 are set forth below:<div> <table cellpadding="0" cellspacing="0" style="width: 100%; margin-top: 5pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: 0.5pt; border-bottom-width: 0.5pt; border-left-width: 0.5pt; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; border-collapse: collapse; empty-cells: show;"> <tr style="page-break-inside: avoid;"> <td colspan="2" style="padding: 12pt 9pt 3.5pt 3pt; width: 100%; line-height: 13pt; font-weight: bold; vertical-align: bottom;">Strategic Target Allocations<sup>1</sup></td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 3.5pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; font-weight: bold; vertical-align: bottom;">Fixed Income</td> <td style="padding: 3.5pt 9pt 1pt 2.62pt; width: 27.87%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">59.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">U.S. Fixed Income Funds</td> <td style="padding: 1pt 9pt 1pt 5.02pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.5%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">Inflation Managed Funds</td> <td style="padding: 1pt 9pt 1pt 7.83pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">High Yield Funds</td> <td style="padding: 1pt 9pt 1pt 9.17pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.1%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">Emerging Markets Debt Funds</td> <td style="padding: 1pt 9pt 1pt 7.93pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.4%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">Equity</td> <td style="padding: 1pt 9pt 1pt 2pt; width: 27.87%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">36.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">U.S. Large Cap Equity Funds</td> <td style="padding: 1pt 9pt 1pt 4.7pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.8%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">U.S. Small/Mid Cap Equity Funds</td> <td style="padding: 1pt 9pt 1pt 8.71pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">REIT Funds</td> <td style="padding: 1pt 9pt 1pt 8.38pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">2.2%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">International Equity Funds</td> <td style="padding: 1pt 9pt 1pt 4.06pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">10.8%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">Emerging Markets Equity Funds</td> <td style="padding: 1pt 9pt 1pt 7.92pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.6%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; font-weight: bold; vertical-align: bottom;">Money Market/Cash and Cash Equivalents</td> <td style="padding: 1pt 9pt 1pt 7pt; width: 27.87%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">5.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">Money Market Funds/Cash and Cash Equivalents</td> <td style="padding: 1pt 9pt 1pt 7.87pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">Commodities</td> <td style="padding: 1pt 9pt 1pt 6.2pt; width: 27.87%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 3pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">Commodities Funds</td> <td style="padding: 1pt 9pt 3pt 7.23pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">0.0%</td> </tr> </table> </div> <br/>Note: Above allocations may not sum up to 100% due to rounding. <br/><br/> 1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/><br/> The table above shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date Retirement Income Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/> The Adviser will review the Fund&#8217;s strategic target allocations at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for fixed income, +/- 10% for equity, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/> As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/> In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds. <br/><br/> The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.</p></div><br />The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/> Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/> Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/> Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments listed above. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed above from time to time.<br/><br/> Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/> Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/> Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/> The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/> Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs. <br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.<br/><br/> These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/> High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.<br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/> Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/> Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/> Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/> Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/> Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.<br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date Retirement Income Index, a broad-based securities market index, and the Lipper Mixed-Asset Target Today Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.<br/><br/> The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#151; CLASS A SHARES</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>9.99%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-7.94%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 0.35%. <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b> After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 You could lose money investing in the Fund. 1-800-480-4111 www.jpmorganfunds.com Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. It compares that performance to the S&amp;P Target Date Retirement Income Index, a broad-based securities market index, and the Lipper Mixed-Asset Target Today Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. The Fund's year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000013 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000015 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000014 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000017 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000012 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2020 Fund<br/>Class/Ticker: A/JTTAX; C/JTTCX; I*/JTTSX</b> <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in "Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION" on page 96 and in "Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in "PURCHASES, REDEMPTIONS AND EXCHANGES" in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> "Acquired Fund (Underlying Fund) Fees and Expenses" are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund's net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund's prospectus. <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value <br/>of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b> <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE: </b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 23% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2020 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2020 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.<br /><br /><img alt="chart" src="g624901g544435img4bac2ac31.jpg"></img><br/><br/><table cellpadding="0" cellspacing="0" style="width: 100%; margin-top: 5pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(64, 64, 64); border-right-width: 0.5pt; border-bottom-width: 0.5pt; border-left-width: 0.5pt; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; border-collapse: collapse; empty-cells: show;"> <tr style="page-break-inside: avoid;"> <td colspan="12" style="padding: 12pt 9pt 3.5pt 3pt; width: 100%; color: rgb(0, 0, 0); line-height: 13pt; font-weight: bold; vertical-align: bottom;">Strategic Target Allocations<sup>1</sup></td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 3.5pt 2pt 2pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Years to Target Date</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">40+</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">35</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">30</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">25</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">20</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">15</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">10</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">5</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">-5</td> <td style="padding: 3.5pt 9pt 2pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">-10</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">Equity</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">79.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.47pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">72.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">62.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.32pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">52.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">36.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">36.0%</td> <td style="padding: 1.75pt 9pt 1pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">36.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">U.S. Large Cap Equity Funds</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 3.43pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom;">34.7%</td> <td style="padding: 1pt 2pt 1pt 5.19pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">31.7%</td> <td style="padding: 1pt 2pt 1pt 5.05pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">27.3%</td> <td style="padding: 1pt 2pt 1pt 5.04pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">22.9%</td> <td style="padding: 1pt 2pt 1pt 4.7pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.8%</td> <td style="padding: 1pt 2pt 1pt 4.7pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.8%</td> <td style="padding: 1pt 9pt 1pt 4.7pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.8%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">U.S. Small/Mid Cap Equity Funds</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 6.93pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.0%</td> <td style="padding: 1pt 2pt 1pt 9.07pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">7.3%</td> <td style="padding: 1pt 2pt 1pt 7.79pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">6.3%</td> <td style="padding: 1pt 2pt 1pt 8.98pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.3%</td> <td style="padding: 1pt 2pt 1pt 8.71pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> <td style="padding: 1pt 2pt 1pt 8.71pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> <td style="padding: 1pt 9pt 1pt 8.71pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">REIT Funds</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 6.91pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">4.8%</td> <td style="padding: 1pt 2pt 1pt 7.49pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">4.3%</td> <td style="padding: 1pt 2pt 1pt 8.76pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> <td style="padding: 1pt 2pt 1pt 9.77pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.1%</td> <td style="padding: 1pt 2pt 1pt 8.38pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">2.2%</td> <td style="padding: 1pt 2pt 1pt 8.38pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">2.2%</td> <td style="padding: 1pt 9pt 1pt 8.38pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">2.2%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">International Equity Funds</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.16pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom;">23.7%</td> <td style="padding: 1pt 2pt 1pt 4.57pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">21.6%</td> <td style="padding: 1pt 2pt 1pt 4.34pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">18.6%</td> <td style="padding: 1pt 2pt 1pt 5.51pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.6%</td> <td style="padding: 1pt 2pt 1pt 4.06pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">10.8%</td> <td style="padding: 1pt 2pt 1pt 4.06pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">10.8%</td> <td style="padding: 1pt 9pt 1pt 4.06pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">10.8%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 2pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Emerging Markets Equity Funds</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.91pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">7.9%</td> <td style="padding: 1pt 2pt 2pt 9.24pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">7.2%</td> <td style="padding: 1pt 2pt 2pt 7.96pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">6.2%</td> <td style="padding: 1pt 2pt 2pt 9.15pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">5.2%</td> <td style="padding: 1pt 2pt 2pt 7.92pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.6%</td> <td style="padding: 1pt 2pt 2pt 7.92pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.6%</td> <td style="padding: 1pt 9pt 2pt 7.92pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.6%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">Commodities</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 5.72pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.11pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.24pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.94pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> <td style="padding: 1.75pt 9pt 1pt 6.2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 2pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Commodities Funds</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 6.76pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.15pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.28pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.98pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.23pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.23pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> <td style="padding: 1pt 9pt 2pt 7.23pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom;">Fixed Income</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.76pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">21.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">28.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.09pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">38.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">48.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.62pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">59.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.62pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">59.0%</td> <td style="padding: 1.75pt 9pt 1pt 2.62pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">59.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">U.S. Fixed Income Funds</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 3.55pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">16.0%</td> <td style="padding: 1pt 2pt 1pt 3.86pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">22.4%</td> <td style="padding: 1pt 2pt 1pt 3.2pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">30.4%</td> <td style="padding: 1pt 2pt 1pt 4.29pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">35.0%</td> <td style="padding: 1pt 2pt 1pt 5.02pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.5%</td> <td style="padding: 1pt 2pt 1pt 5.02pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.5%</td> <td style="padding: 1pt 9pt 1pt 5.02pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.5%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">Inflation Managed Funds</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 6.76pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.15pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.28pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 8.89pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.5%</td> <td style="padding: 1pt 2pt 1pt 7.83pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.0%</td> <td style="padding: 1pt 2pt 1pt 7.83pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.0%</td> <td style="padding: 1pt 9pt 1pt 7.83pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">High Yield Funds</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 7.57pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.3%</td> <td style="padding: 1pt 2pt 1pt 7.83pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.6%</td> <td style="padding: 1pt 2pt 1pt 7.86pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">4.9%</td> <td style="padding: 1pt 2pt 1pt 8.36pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">6.6%</td> <td style="padding: 1pt 2pt 1pt 9.17pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.1%</td> <td style="padding: 1pt 2pt 1pt 9.17pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.1%</td> <td style="padding: 1pt 9pt 1pt 9.17pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.1%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 2pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Emerging Markets Debt Funds</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 8.27pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.8%</td> <td style="padding: 1pt 2pt 2pt 9.11pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">2.1%</td> <td style="padding: 1pt 2pt 2pt 8.07pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">2.8%</td> <td style="padding: 1pt 2pt 2pt 8.43pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.0%</td> <td style="padding: 1pt 2pt 2pt 7.93pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.4%</td> <td style="padding: 1pt 2pt 2pt 7.93pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.4%</td> <td style="padding: 1pt 9pt 2pt 7.93pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.4%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom;">Money Market Funds/Cash and<br /> Cash Equivalents</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 5.72pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.11pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.24pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.94pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 7pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">5.0%</td> <td style="padding: 1.75pt 2pt 1pt 7pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">5.0%</td> <td style="padding: 1.75pt 9pt 1pt 7pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">5.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 3pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">Money Market Funds/Cash and<br /> Cash Equivalents</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 6.76pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.15pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.28pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.98pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.87pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.0%</td> <td style="padding: 1pt 2pt 3pt 7.87pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.0%</td> <td style="padding: 1pt 9pt 3pt 7.87pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.0%</td> </tr> </table> <br/>Note: Above allocations may not sum up to 100% due to rounding. <br/><br/> 1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/> <br/> The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2020 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/> The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for fixed income, +/- 10% for equity, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/> As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/> The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees. <br/><br/>In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds. <br/><br/> The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.</p></div><br />The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/> Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/> Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/> Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.<br/><br/> Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/> Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/> Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/> Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/> The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/> High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid. <br/><br/>No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. <br/><br/> These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/> Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.<br/><br/> Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/> Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/> Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/> Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2020 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2020 Funds Index, an index based on the total returns of certain mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. <br/><br/>The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#151; CLASS A SHARES</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>15.58%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-15.68%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 0.71%. <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b> After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund's net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund's prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2020 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2020 Funds Index, an index based on the total returns of certain mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. 1-800-480-4111 www.jpmorganfunds.com Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund's year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000023 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000025 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000024 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000027 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000022 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2025 Fund<br/>Class/Ticker: A/JNSAX; C/JNSCX; I/JNSSX</b> <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in "Investing with J.P. Morgan Funds &#151; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION" on page 96 and in "Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in "PURCHASES, REDEMPTIONS AND EXCHANGES" in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> "Acquired Fund (Underlying Fund) Fees and Expenses" are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund's net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund's prospectus. <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b> <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE: </b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 26% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2025 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2025 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.<br /><br /><img alt="chart" src="g624901g544435img4bac2ac31.jpg"></img><br/><br/><table cellpadding="0" cellspacing="0" style="width: 100%; margin-top: 5pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: 0.5pt; border-bottom-width: 0.5pt; border-left-width: 0.5pt; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; border-collapse: collapse; empty-cells: show;"> <tr style="page-break-inside: avoid;"> <td colspan="12" style="padding: 12pt 9pt 3.5pt 3pt; width: 100%; color: rgb(0, 0, 0); line-height: 13pt; font-weight: bold; vertical-align: bottom;">Strategic Target Allocations<sup>1</sup></td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 3.5pt 2pt 2pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Years to Target Date</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">40+</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">35</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">30</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">25</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">20</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">15</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">10</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">5</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">-5</td> <td style="padding: 3.5pt 9pt 2pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">-10</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">Equity</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">79.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.47pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">72.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">62.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.32pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">52.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">36.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">36.0%</td> <td style="padding: 1.75pt 9pt 1pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">36.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">U.S. Large Cap Equity Funds</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 3.43pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom;">34.7%</td> <td style="padding: 1pt 2pt 1pt 5.19pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">31.7%</td> <td style="padding: 1pt 2pt 1pt 5.05pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">27.3%</td> <td style="padding: 1pt 2pt 1pt 5.04pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">22.9%</td> <td style="padding: 1pt 2pt 1pt 4.7pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.8%</td> <td style="padding: 1pt 2pt 1pt 4.7pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.8%</td> <td style="padding: 1pt 9pt 1pt 4.7pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.8%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">U.S. Small/Mid Cap Equity Funds</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 6.93pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.0%</td> <td style="padding: 1pt 2pt 1pt 9.07pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">7.3%</td> <td style="padding: 1pt 2pt 1pt 7.79pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">6.3%</td> <td style="padding: 1pt 2pt 1pt 8.98pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.3%</td> <td style="padding: 1pt 2pt 1pt 8.71pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> <td style="padding: 1pt 2pt 1pt 8.71pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> <td style="padding: 1pt 9pt 1pt 8.71pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">REIT Funds</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 6.91pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">4.8%</td> <td style="padding: 1pt 2pt 1pt 7.49pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">4.3%</td> <td style="padding: 1pt 2pt 1pt 8.76pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> <td style="padding: 1pt 2pt 1pt 9.77pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.1%</td> <td style="padding: 1pt 2pt 1pt 8.38pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">2.2%</td> <td style="padding: 1pt 2pt 1pt 8.38pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">2.2%</td> <td style="padding: 1pt 9pt 1pt 8.38pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">2.2%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">International Equity Funds</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.16pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom;">23.7%</td> <td style="padding: 1pt 2pt 1pt 4.57pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">21.6%</td> <td style="padding: 1pt 2pt 1pt 4.34pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">18.6%</td> <td style="padding: 1pt 2pt 1pt 5.51pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.6%</td> <td style="padding: 1pt 2pt 1pt 4.06pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">10.8%</td> <td style="padding: 1pt 2pt 1pt 4.06pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">10.8%</td> <td style="padding: 1pt 9pt 1pt 4.06pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">10.8%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 2pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Emerging Markets Equity Funds</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.91pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">7.9%</td> <td style="padding: 1pt 2pt 2pt 9.24pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">7.2%</td> <td style="padding: 1pt 2pt 2pt 7.96pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">6.2%</td> <td style="padding: 1pt 2pt 2pt 9.15pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">5.2%</td> <td style="padding: 1pt 2pt 2pt 7.92pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.6%</td> <td style="padding: 1pt 2pt 2pt 7.92pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.6%</td> <td style="padding: 1pt 9pt 2pt 7.92pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.6%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">Commodities</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 5.72pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.11pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.24pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.94pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> <td style="padding: 1.75pt 9pt 1pt 6.2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 2pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Commodities Funds</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 6.76pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.15pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.28pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.98pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.23pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.23pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> <td style="padding: 1pt 9pt 2pt 7.23pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom;">Fixed Income</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.76pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">21.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">28.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.09pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">38.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">48.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.62pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">59.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.62pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">59.0%</td> <td style="padding: 1.75pt 9pt 1pt 2.62pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">59.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">U.S. Fixed Income Funds</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 3.55pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">16.0%</td> <td style="padding: 1pt 2pt 1pt 3.86pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">22.4%</td> <td style="padding: 1pt 2pt 1pt 3.2pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">30.4%</td> <td style="padding: 1pt 2pt 1pt 4.29pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">35.0%</td> <td style="padding: 1pt 2pt 1pt 5.02pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.5%</td> <td style="padding: 1pt 2pt 1pt 5.02pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.5%</td> <td style="padding: 1pt 9pt 1pt 5.02pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.5%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">Inflation Managed Funds</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 6.76pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.15pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.28pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 8.89pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.5%</td> <td style="padding: 1pt 2pt 1pt 7.83pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.0%</td> <td style="padding: 1pt 2pt 1pt 7.83pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.0%</td> <td style="padding: 1pt 9pt 1pt 7.83pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">High Yield Funds</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 7.57pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.3%</td> <td style="padding: 1pt 2pt 1pt 7.83pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.6%</td> <td style="padding: 1pt 2pt 1pt 7.86pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">4.9%</td> <td style="padding: 1pt 2pt 1pt 8.36pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">6.6%</td> <td style="padding: 1pt 2pt 1pt 9.17pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.1%</td> <td style="padding: 1pt 2pt 1pt 9.17pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.1%</td> <td style="padding: 1pt 9pt 1pt 9.17pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.1%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 2pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Emerging Markets Debt Funds</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 8.27pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.8%</td> <td style="padding: 1pt 2pt 2pt 9.11pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">2.1%</td> <td style="padding: 1pt 2pt 2pt 8.07pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">2.8%</td> <td style="padding: 1pt 2pt 2pt 8.43pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.0%</td> <td style="padding: 1pt 2pt 2pt 7.93pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.4%</td> <td style="padding: 1pt 2pt 2pt 7.93pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.4%</td> <td style="padding: 1pt 9pt 2pt 7.93pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.4%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom;">Money Market Funds/Cash and<br /> Cash Equivalents</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 5.72pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.11pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.24pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.94pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 7pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">5.0%</td> <td style="padding: 1.75pt 2pt 1pt 7pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">5.0%</td> <td style="padding: 1.75pt 9pt 1pt 7pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">5.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 3pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">Money Market Funds/Cash and<br /> Cash Equivalents</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 6.76pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.15pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.28pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.98pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.87pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.0%</td> <td style="padding: 1pt 2pt 3pt 7.87pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.0%</td> <td style="padding: 1pt 9pt 3pt 7.87pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.0%</td> </tr> </table> <br />Note: Above allocations may not sum up to 100% due to rounding. <br/><br/> 1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/><br/> The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2025 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/> The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 10% for equity, +/- 15% for fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/> As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/> The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees. <br/><br/> In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds. <br/><br/>The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.</p></div><br />The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/> Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/> Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/> Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.<br/><br/> Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/> Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/>Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/> The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/> High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.<br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.<br/><br/> These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/> Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.<br/><br/> Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/> Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/> Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/> Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/> Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2025 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2025 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. <br/><br/>The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#8212; CLASS A SHARES </b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>17.09%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-17.45%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 1.13%. <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b> After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund's net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund's prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2025 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2025 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 The Fund's year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000033 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000035 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000034 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000037 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000032 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2030 Fund<br/>Class/Ticker: A/JSMAX; C/JSMCX; I/JSMSX</b> <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in "Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION" on page 96 and in "Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in "PURCHASES, REDEMPTIONS AND EXCHANGES" in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> "Acquired Fund (Underlying Fund) Fees and Expenses" are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund's net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund's prospectus. <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/>of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b> <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/>WOULD BE:</b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 30% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2030 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2030 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form. <br /><br /><img alt="chart" src="g624901g544435img4bac2ac31.jpg"></img><br/><br/><table cellpadding="0" cellspacing="0" style="width: 100%; margin-top: 5pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: 0.5pt; border-bottom-width: 0.5pt; border-left-width: 0.5pt; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; border-collapse: collapse; empty-cells: show;"> <tr style="page-break-inside: avoid;"> <td colspan="12" style="padding: 12pt 9pt 3.5pt 3pt; width: 100%; color: rgb(0, 0, 0); line-height: 13pt; font-weight: bold; vertical-align: bottom;">Strategic Target Allocations<sup>1</sup></td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 3.5pt 2pt 2pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Years to Target Date</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">40+</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">35</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">30</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">25</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">20</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">15</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">10</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">5</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">-5</td> <td style="padding: 3.5pt 9pt 2pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">-10</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">Equity</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">79.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.47pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">72.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">62.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.32pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">52.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">36.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">36.0%</td> <td style="padding: 1.75pt 9pt 1pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">36.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">U.S. Large Cap Equity Funds</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 3.43pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom;">34.7%</td> <td style="padding: 1pt 2pt 1pt 5.19pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">31.7%</td> <td style="padding: 1pt 2pt 1pt 5.05pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">27.3%</td> <td style="padding: 1pt 2pt 1pt 5.04pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">22.9%</td> <td style="padding: 1pt 2pt 1pt 4.7pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.8%</td> <td style="padding: 1pt 2pt 1pt 4.7pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.8%</td> <td style="padding: 1pt 9pt 1pt 4.7pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.8%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">U.S. Small/Mid Cap Equity Funds</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 6.93pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.0%</td> <td style="padding: 1pt 2pt 1pt 9.07pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">7.3%</td> <td style="padding: 1pt 2pt 1pt 7.79pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">6.3%</td> <td style="padding: 1pt 2pt 1pt 8.98pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.3%</td> <td style="padding: 1pt 2pt 1pt 8.71pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> <td style="padding: 1pt 2pt 1pt 8.71pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> <td style="padding: 1pt 9pt 1pt 8.71pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">REIT Funds</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 6.91pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">4.8%</td> <td style="padding: 1pt 2pt 1pt 7.49pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">4.3%</td> <td style="padding: 1pt 2pt 1pt 8.76pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> <td style="padding: 1pt 2pt 1pt 9.77pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.1%</td> <td style="padding: 1pt 2pt 1pt 8.38pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">2.2%</td> <td style="padding: 1pt 2pt 1pt 8.38pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">2.2%</td> <td style="padding: 1pt 9pt 1pt 8.38pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">2.2%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">International Equity Funds</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.16pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom;">23.7%</td> <td style="padding: 1pt 2pt 1pt 4.57pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">21.6%</td> <td style="padding: 1pt 2pt 1pt 4.34pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">18.6%</td> <td style="padding: 1pt 2pt 1pt 5.51pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.6%</td> <td style="padding: 1pt 2pt 1pt 4.06pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">10.8%</td> <td style="padding: 1pt 2pt 1pt 4.06pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">10.8%</td> <td style="padding: 1pt 9pt 1pt 4.06pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">10.8%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 2pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Emerging Markets Equity Funds</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.91pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">7.9%</td> <td style="padding: 1pt 2pt 2pt 9.24pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">7.2%</td> <td style="padding: 1pt 2pt 2pt 7.96pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">6.2%</td> <td style="padding: 1pt 2pt 2pt 9.15pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">5.2%</td> <td style="padding: 1pt 2pt 2pt 7.92pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.6%</td> <td style="padding: 1pt 2pt 2pt 7.92pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.6%</td> <td style="padding: 1pt 9pt 2pt 7.92pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.6%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">Commodities</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 5.72pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.11pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.24pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.94pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> <td style="padding: 1.75pt 9pt 1pt 6.2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 2pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Commodities Funds</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 6.76pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.15pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.28pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.98pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.23pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.23pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> <td style="padding: 1pt 9pt 2pt 7.23pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom;">Fixed Income</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.76pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">21.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">28.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.09pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">38.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">48.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.62pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">59.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.62pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">59.0%</td> <td style="padding: 1.75pt 9pt 1pt 2.62pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">59.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">U.S. Fixed Income Funds</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 3.55pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">16.0%</td> <td style="padding: 1pt 2pt 1pt 3.86pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">22.4%</td> <td style="padding: 1pt 2pt 1pt 3.2pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">30.4%</td> <td style="padding: 1pt 2pt 1pt 4.29pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">35.0%</td> <td style="padding: 1pt 2pt 1pt 5.02pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.5%</td> <td style="padding: 1pt 2pt 1pt 5.02pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.5%</td> <td style="padding: 1pt 9pt 1pt 5.02pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.5%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">Inflation Managed Funds</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 6.76pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.15pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.28pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 8.89pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.5%</td> <td style="padding: 1pt 2pt 1pt 7.83pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.0%</td> <td style="padding: 1pt 2pt 1pt 7.83pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.0%</td> <td style="padding: 1pt 9pt 1pt 7.83pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">High Yield Funds</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 7.57pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.3%</td> <td style="padding: 1pt 2pt 1pt 7.83pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.6%</td> <td style="padding: 1pt 2pt 1pt 7.86pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">4.9%</td> <td style="padding: 1pt 2pt 1pt 8.36pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">6.6%</td> <td style="padding: 1pt 2pt 1pt 9.17pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.1%</td> <td style="padding: 1pt 2pt 1pt 9.17pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.1%</td> <td style="padding: 1pt 9pt 1pt 9.17pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.1%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 2pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Emerging Markets Debt Funds</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 8.27pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.8%</td> <td style="padding: 1pt 2pt 2pt 9.11pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">2.1%</td> <td style="padding: 1pt 2pt 2pt 8.07pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">2.8%</td> <td style="padding: 1pt 2pt 2pt 8.43pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.0%</td> <td style="padding: 1pt 2pt 2pt 7.93pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.4%</td> <td style="padding: 1pt 2pt 2pt 7.93pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.4%</td> <td style="padding: 1pt 9pt 2pt 7.93pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.4%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom;">Money Market Funds/Cash and<br /> Cash Equivalents</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 5.72pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.11pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.24pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.94pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 7pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">5.0%</td> <td style="padding: 1.75pt 2pt 1pt 7pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">5.0%</td> <td style="padding: 1.75pt 9pt 1pt 7pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">5.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 3pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">Money Market Funds/Cash and<br /> Cash Equivalents</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 6.76pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.15pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.28pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.98pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.87pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.0%</td> <td style="padding: 1pt 2pt 3pt 7.87pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.0%</td> <td style="padding: 1pt 9pt 3pt 7.87pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.0%</td> </tr> </table> <br/> Note: Above allocations may not sum up to 100% due to rounding. <br/><br/> 1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/> <br/> The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2030 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/> The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/> As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/> The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees. <br/><br/> In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds. <br/><br/> The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.</p></div><br />The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/> Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/> Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/> Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.<br/><br/> Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.<br/><br/> These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/> Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/> Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/> Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/> The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/> High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.<br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/> Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.<br/><br/> Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/> Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/> Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/> Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/> Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund's Past Performance </b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2030 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2030 Funds Index, an index based on the total returns of certain mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.<br/><br/>The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#8212; CLASS A SHARES </b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>18.46%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-19.08%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 1.56%. <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b> After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund's net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund's prospectus. 10/31/19 The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. www.jpmorganfunds.com 1-800-480-4111 The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. It compares that performance to the S&amp;P Target Date 2030 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2030 Funds Index, an index based on the total returns of certain mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. You could lose money investing in the Fund. Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund's year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000043 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000045 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000044 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000047 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000042 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2035 Fund<br/>Class/Ticker: A/SRJAX; C/SRJCX; I/SRJSX</b> <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in &#8220;Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION&#8221; on page 96 and in &#8220;Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in &#8220;PURCHASES, REDEMPTIONS AND EXCHANGES&#8221; in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value <br/>of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b> <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE: </b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 28% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2035 Fund is a "fund of funds" that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2035 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund's asset allocation strategy will change. The "glide path" depicted in the chart below shows how the Fund's strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.<br/><br/><img alt="chart" src="g624901g544435img4bac2ac31.jpg"></img><br/><br/> <table style="border-bottom:0.5pt solid #000000;border-collapse:collapse;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:99.82%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">40+ </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">35 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">30 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">25 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">20 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">15 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">10 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">5 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">0 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">-5 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:36.12%;">Equity </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">79.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">72.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">62.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">52.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">36.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">36.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">U.S. Large Cap Equity Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.66%;">34.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">31.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">27.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">22.9% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">15.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">15.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">U.S. Small/Mid Cap Equity Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.66%;">8.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">7.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">6.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">5.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">3.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">3.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">REIT Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">4.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">4.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">3.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">3.1% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">2.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">2.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">International Equity Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.66%;">23.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">21.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">18.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">15.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">10.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">10.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.73%;">7.2% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.76%;">6.2% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">5.2% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:36.12%;">Commodities </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Fixed Income </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">21.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">28.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">38.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">48.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">59.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">59.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">U.S. Fixed Income Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">16.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">22.4% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">30.4% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">35.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">37.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">37.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Inflation Managed Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">3.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">High Yield Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">3.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">3.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">4.9% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">6.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.1% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.1% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.73%;">2.1% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.76%;">2.8% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">3.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.4% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.4% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td></tr></table> <br/>Note: Above allocations may not sum up to 100% due to rounding.<br/><br/>1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.<br/><br/>The glide path shows the Fund's long term strategic target allocations as of November 1, 2018. The Fund's actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund's strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2035 Index (the Fund's benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.<br/><br/>The Adviser will review the Fund's strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund's strategic target allocations shown in the glide path and table above may be different from the Fund's actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.<br/><br/>As a result of the Adviser's ability to make these modifications, the Fund's actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund's strategic target allocations and actual allocations to underlying funds and investments is available in the Fund's shareholder reports and on the Fund's website from time to time.<br/><br/> The Fund is a "to" target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund's Board of Trustees. <br/><br/>In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds. <br/><br/>The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.</p></div><br />The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/> Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/> Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/> Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.<br/><br/> Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.<br/><br/> These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/>Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/> Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/> Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/> The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/> High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.<br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/> Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.<br/><br/> Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/> Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/> Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/> Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/> Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/> You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2035 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2035 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. <br/><br/>The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#151; CLASS A SHARES</b> <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>19.32%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-19.28%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 1.65%. After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2035 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2035 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. <b>Best Quarter </b> 2009-06-30 <b>Worst Quarter </b> 2008-12-31 <b>Best Quarter </b> 2009-06-30 <b>Worst Quarter </b> 2008-12-31 <b>Best Quarter </b> 2009-06-30 <b>Worst Quarter </b> 2008-12-31 <b>Best Quarter </b> 2009-06-30 <b>Worst Quarter </b> 2008-12-31 The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000053 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000055 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000054 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000057 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000052 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2040 Fund</b> <br/><b>Class/Ticker: A/SMTAX; C/SMTCX; I/SMTSX</b> <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in &#8220;Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION&#8221; on page 96 and in &#8220;Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in &#8220;PURCHASES, REDEMPTIONS AND EXCHANGES&#8221; in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b> <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST <br/>WOULD BE: </b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 29% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2040 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2040 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form. <br/><br/> <img alt="chart" src="g624901g544435img4bac2ac31.jpg"></img><br/><br/><table style="border-bottom:0.5pt solid #000000;border-collapse:collapse;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:99.82%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">40+ </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">35 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">30 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">25 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">20 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">15 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">10 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">5 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">0 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">-5 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:36.12%;">Equity </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">79.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">72.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">62.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">52.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">36.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">36.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">U.S. Large Cap Equity Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.66%;">34.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">31.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">27.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">22.9% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">15.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">15.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">U.S. Small/Mid Cap Equity Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.66%;">8.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">7.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">6.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">5.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">3.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">3.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">REIT Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">4.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">4.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">3.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">3.1% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">2.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">2.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">International Equity Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.66%;">23.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">21.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">18.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">15.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">10.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">10.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.73%;">7.2% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.76%;">6.2% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">5.2% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:36.12%;">Commodities </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Fixed Income </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">21.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">28.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">38.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">48.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">59.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">59.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">U.S. Fixed Income Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">16.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">22.4% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">30.4% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">35.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">37.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">37.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Inflation Managed Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">3.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">High Yield Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">3.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">3.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">4.9% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">6.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.1% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.1% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.73%;">2.1% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.76%;">2.8% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">3.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.4% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.4% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td></tr></table> <br/> Note: Above allocations may not sum up to 100% due to rounding. <br/><br/>1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/> <br/> The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2040 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/>The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/> As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time.<br/><br/> The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees.<br/><br/> In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds. <br/><br/> The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%"> An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.</p></div><br />The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/> Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/> Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/> Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.<br/><br/> Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.<br/><br/> These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/> Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/> Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/> Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/> The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/> High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.<br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/> Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.<br/><br/> Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/> Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/> Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/> Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/> Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%"> Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/> You could lose money investing in the Fund. </p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2040 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2040 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.<br/><br/> The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#8212; CLASS A SHARES</b> <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017) </b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>19.23%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-19.51%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 1.96%. After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2040 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2040 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000063 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000065 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000064 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000067 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000062 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2045 Fund</b><br/><b>Class/Ticker: A/JSAAX; C/JSACX; I/JSASX</b> <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in &#8220;Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION&#8221; on page 96 and in &#8220;Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in &#8220;PURCHASES, REDEMPTIONS AND EXCHANGES&#8221; in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value <br/>of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b> <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE: </b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 26% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2045 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2045 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.<br/><br/> <img alt="chart" src="g624901g544435img4bac2ac31.jpg"></img><br/><br/><table style="border-bottom:0.5pt solid #000000;border-collapse:collapse;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:99.82%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">40+ </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">35 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">30 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">25 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">20 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">15 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">10 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">5 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">0 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">-5 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:36.12%;">Equity </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">79.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">72.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">62.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">52.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">36.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">36.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">U.S. Large Cap Equity Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.66%;">34.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">31.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">27.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">22.9% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">15.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">15.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">U.S. Small/Mid Cap Equity Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.66%;">8.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">7.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">6.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">5.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">3.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">3.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">REIT Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">4.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">4.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">3.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">3.1% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">2.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">2.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">International Equity Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.66%;">23.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">21.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">18.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">15.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">10.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">10.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.73%;">7.2% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.76%;">6.2% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">5.2% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:36.12%;">Commodities </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Fixed Income </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">21.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">28.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">38.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">48.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">59.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">59.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">U.S. Fixed Income Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">16.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">22.4% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">30.4% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">35.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">37.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">37.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Inflation Managed Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">3.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">High Yield Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">3.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">3.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">4.9% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">6.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.1% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.1% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.73%;">2.1% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.76%;">2.8% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">3.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.4% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.4% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td></tr></table> <br/> Note: Above allocations may not sum up to 100% due to rounding. <br/><br/>1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/> <br/> The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2045 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/> The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.<br/><br/> As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/> The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees. <br/><br/> In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds. <br/><br/> The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.<br/><br/><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%"> An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.</p></div><br/>The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/>Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/> Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/>Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.<br/><br/> Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.<br/><br/> These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/>Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/>Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/>Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/>The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/>High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.<br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/>Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.<br/><br/> Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/> Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/>Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/> Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/> Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br/><br/><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund. </p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2045 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2045 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.<br/><br/> The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#8212; CLASS A SHARES </b> <b>AVERAGE ANNUAL TOTAL RETURNS <br/> (For periods ended December 31, 2017) </b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>19.13%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-19.29%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 2.07%. After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2045 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2045 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000073 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000075 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000074 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000077 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000072 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2050 Fund<br/>Class/Ticker: A/JTSAX; C/JTSCX; I/JTSSX</b> <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in &#8220;Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION&#8221; on page 96 and in &#8220;Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in &#8220;PURCHASES, REDEMPTIONS AND EXCHANGES&#8221; in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b> <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST <br/>WOULD BE: </b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 25% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2050 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2050 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form. <br/><br/> <img alt="chart" src="g624901g544435img4bac2ac31.jpg"></img><br/><br/><table style="border-bottom:0.5pt solid #000000;border-collapse:collapse;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:99.82%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">40+ </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">35 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">30 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">25 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">20 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">15 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">10 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">5 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">0 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">-5 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:36.12%;">Equity </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">79.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">72.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">62.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">52.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">36.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">36.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">U.S. Large Cap Equity Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.66%;">34.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">31.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">27.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">22.9% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">15.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">15.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">U.S. Small/Mid Cap Equity Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.66%;">8.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">7.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">6.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">5.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">3.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">3.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">REIT Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">4.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">4.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">3.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">3.1% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">2.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">2.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">International Equity Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.66%;">23.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">21.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">18.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">15.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">10.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">10.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.73%;">7.2% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.76%;">6.2% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">5.2% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:36.12%;">Commodities </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Fixed Income </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">21.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">28.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">38.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">48.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">59.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">59.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">U.S. Fixed Income Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">16.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">22.4% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">30.4% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">35.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">37.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">37.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Inflation Managed Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">3.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">High Yield Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">3.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">3.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">4.9% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">6.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.1% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.1% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.73%;">2.1% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.76%;">2.8% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">3.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.4% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.4% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td></tr></table><br/> Note: Above allocations may not sum up to 100% due to rounding. <br/><br/>1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/> <br/> The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2050 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/> The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/> As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time.<br/><br/> The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees. <br/><br/> In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds. <br/><br/> The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.<br/><br/><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you. </p></div><br/>The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/> Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/> Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/> Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.<br/><br/> Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.<br/><br/> These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/> Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/> Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/> Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/> The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/> High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.<br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/> Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.<br/><br/> Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/> Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/> Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/> Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/> Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br/><br/><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/> You could lose money investing in the Fund. </p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2050 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2050 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. <br/><br/>The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#8212; CLASS A SHARES</b> <b>AVERAGE ANNUAL TOTAL RETURNS <br/> (For periods ended December 31, 2017) </b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>19.00%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-19.17%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 2.03%. After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2050 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2050 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. <b>Best Quarter</b> 2009-06-30 <b>Worst Quarter</b> 2008-12-31 <b>Best Quarter</b> 2009-06-30 <b>Worst Quarter </b> 2008-12-31 <b>Best Quarter </b> 2009-06-30 <b>Worst Quarter </b> 2008-12-31 <b>Best Quarter </b> 2009-06-30 <b>Worst Quarter </b> 2008-12-31 The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000083 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000085 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000084 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000087 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000082 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2055 Fund</b><br/><b>Class/Ticker: A/JFFAX; C/JFFCX; I/JFFSX </b> <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in "Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION" on page 96 and in "Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in "PURCHASES, REDEMPTIONS AND EXCHANGES" in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE:</b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 21% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2055 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2055 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form. <br/><br/> <img alt="chart" src="g624901g544435img4bac2ac31.jpg"></img><br/><br/><table style="border-bottom:0.5pt solid #000000;border-collapse:collapse;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:99.82%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">40+ </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">35 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">30 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">25 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">20 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">15 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">10 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">5 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">0 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">-5 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:36.12%;">Equity </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">79.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">72.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">62.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">52.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">36.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">36.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">U.S. Large Cap Equity Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.66%;">34.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">31.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">27.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">22.9% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">15.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">15.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">U.S. Small/Mid Cap Equity Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.66%;">8.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">7.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">6.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">5.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">3.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">3.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">REIT Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">4.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">4.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">3.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">3.1% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">2.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">2.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">International Equity Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.66%;">23.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">21.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">18.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">15.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">10.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">10.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.73%;">7.2% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.76%;">6.2% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">5.2% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:36.12%;">Commodities </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Fixed Income </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">21.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">28.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">38.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">48.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">59.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">59.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">U.S. Fixed Income Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">16.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">22.4% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">30.4% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">35.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">37.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">37.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Inflation Managed Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">3.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">High Yield Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">3.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">3.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">4.9% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">6.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.1% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.1% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.73%;">2.1% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.76%;">2.8% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">3.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.4% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.4% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td></tr></table><br/> Note: Above allocations may not sum up to 100% due to rounding. <br/><br/>1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/><br/> The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2055 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/> The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/> As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/> The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees. <br/><br/> In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.<br/><br/> The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.<br/><br/> <div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.</p></div><br /> The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective.<br/><br/>Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/> Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.<br/><br/> Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.<br/><br/> Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.<br/><br/> These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.<br/> <br/>Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities.<br/><br/> Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.<br/><br/> Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.<br/><br/> The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.<br/><br/> High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.<br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.<br/><br/> Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITs are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.<br/><br/> Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/> Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.<br/><br/> Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/> Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/> Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.<br /><br />You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year over the past five calendar years. The table shows the average annual total returns for the past one year, five years and life of the Fund. It compares that performance to the S&amp;P Target Date 2055 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.<br/><br/>The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#151; CLASS A SHARES</b> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td valign="top"><b>Best&nbsp;Quarter</b></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">4th quarter, 2013</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>7.52%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr> <td valign="top"><b>Worst&nbsp;Quarter</b></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="3"> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px"> 3rd quarter, 2015 </p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-7.69%</b> </td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> </table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 2.08%. <b>AVERAGE ANNUAL TOTAL RETURNS<br/> (For periods ended December 31, 2017)</b> After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year over the past five calendar years. The table shows the average annual total returns for the past one year, five years and life of the Fund. It compares that performance to the S&P Target Date 2055 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000093 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000095 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000094 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000097 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000092 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2060 Fund<br/> Class/Ticker: A/JAKAX; C/JAKCX; I/JAKSX </b> <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in &#8220;Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION&#8221; on page 96 and in &#8220;Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in &#8220;PURCHASES, REDEMPTIONS AND EXCHANGES&#8221; in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE:</b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 39% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2060 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2060 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form. <br/><br/> <img alt="chart" src="g624901g544435img4bac2ac31.jpg"></img><br/><br/><table style="border-bottom:0.5pt solid #000000;border-collapse:collapse;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:99.82%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">40+ </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">35 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">30 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">25 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">20 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">15 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">10 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">5 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">0 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">-5 </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:36.12%;">Equity </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">86.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">79.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">72.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">62.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">52.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">36.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">36.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.75%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">U.S. Large Cap Equity Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">37.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.66%;">34.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">31.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">27.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">22.9% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">15.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">15.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">U.S. Small/Mid Cap Equity Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">8.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.66%;">8.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">7.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">6.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">5.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">3.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">3.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">REIT Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">5.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">4.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">4.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">3.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">3.1% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">2.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">2.2% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">International Equity Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.85%;">25.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.66%;">23.7% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">21.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">18.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">15.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">10.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">10.8% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.85%;">8.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.73%;">7.2% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.76%;">6.2% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">5.2% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.6% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:36.12%;">Commodities </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Fixed Income </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">14.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">21.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">28.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">38.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">48.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">59.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">59.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">U.S. Fixed Income Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">9.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">16.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">22.4% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">30.4% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">35.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">37.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">37.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Inflation Managed Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">3.5% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">High Yield Funds </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">3.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">3.3% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.73%;">3.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.76%;">4.9% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.89%;">6.6% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.1% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.1% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:36.12%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">1.5% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.73%;">2.1% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.76%;">2.8% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.89%;">3.0% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.4% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.4% </td> <td style="border-bottom:1pt solid #000000;color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:36.12%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.85%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.66%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.73%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.76%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:5.89%;">0.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td> <td style="color:#000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:5.75%;">5.0% </td></tr></table> <br/> Note: Above allocations may not sum up to 100% due to rounding. <br/><br/> 1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/><br/> The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2060+ Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/> The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/> As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/> The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees. <br/><br/> In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds. <br/><br/> The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments. <br/><br/><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you. </p></div><br />The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/>Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/> Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/>Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.<br/><br/> Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.<br/><br/> These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/> Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/>Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/>Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/>The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/>High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.<br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/> Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITs are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.<br/><br/> Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/> Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/>Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/> Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/> Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. The bar chart shows the performance of the Fund&#8217;s Class A Shares for the past calendar year. The table shows the average annual total returns for the past one year and life of the Fund. The table compares that performance to the S&amp;P Target Date 2060+ Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Index, an index based on the total returns of all mutual funds within the Funds designated category as determined by Lipper. Unlike the S&amp;P Index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information will be available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.<br/><br/>The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#151; CLASS A SHARES</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">1st quarter, 2017</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>6.15%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2017</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>3.74%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 2.18%. <b>AVERAGE ANNUAL TOTAL RETURNS<br/> (For periods ended December 31, 2017)</b> After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows the performance of the Fund&#8217;s Class A Shares for the past calendar year. The table shows the average annual total returns for the past one year and life of the Fund. The table compares that performance to the S&amp;P Target Date 2060+ Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Index, an index based on the total returns of all mutual funds within the Funds designated category as determined by Lipper. Unlike the S&amp;P Index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000103 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000106 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000105 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000104 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000107 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000102 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> Income Fund</b><br/><b>Class/Ticker: R2/JSIZX; R3/JSIPX; R4/JSIQX; R5/JSIIX; R6/JSIYX</b> <b>What is the goal of the Fund?</b> The Fund seeks current income and some capital appreciation. <b>Fees and Expenses of the Fund</b> The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES<br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b> <b>Example</b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>Portfolio Turnover</b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 23% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies?</b> The JPMorgan SmartRetirement<sup>&#174;</sup> Income Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors who are retired or about to retire soon. The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, with an emphasis on fixed income funds over equity funds and other funds. The Fund&#8217;s strategic target allocations among various asset and sub-asset classes as of November 1, 2018 are set forth below:<div> <table cellpadding="0" cellspacing="0" style="width: 100%; margin-top: 5pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: 0.5pt; border-bottom-width: 0.5pt; border-left-width: 0.5pt; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; border-collapse: collapse; empty-cells: show;"> <tr style="page-break-inside: avoid;"> <td colspan="2" style="padding: 12pt 9pt 1.5pt 3pt; width: 100%; line-height: 13pt; font-weight: bold; vertical-align: bottom;">Strategic Target Allocations<sup>1</sup></td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 3.5pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; font-weight: bold; vertical-align: bottom;">Fixed Income</td> <td style="padding: 3.5pt 9pt 1pt 2.62pt; width: 27.87%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">59.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">U.S. Fixed Income Funds</td> <td style="padding: 1pt 9pt 1pt 5.02pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.5%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">Inflation Managed Funds</td> <td style="padding: 1pt 9pt 1pt 7.83pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">High Yield Funds</td> <td style="padding: 1pt 9pt 1pt 9.17pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.1%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">Emerging Markets Debt Funds</td> <td style="padding: 1pt 9pt 1pt 7.93pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.4%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">Equity</td> <td style="padding: 1pt 9pt 1pt 2pt; width: 27.87%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">36.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">U.S. Large Cap Equity Funds</td> <td style="padding: 1pt 9pt 1pt 4.7pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.8%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">U.S. Small/Mid Cap Equity Funds</td> <td style="padding: 1pt 9pt 1pt 8.71pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">REIT Funds</td> <td style="padding: 1pt 9pt 1pt 8.38pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">2.2%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">International Equity Funds</td> <td style="padding: 1pt 9pt 1pt 4.06pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">10.8%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">Emerging Markets Equity Funds</td> <td style="padding: 1pt 9pt 1pt 7.92pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.6%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; font-weight: bold; vertical-align: bottom;">Money Market/Cash and Cash Equivalents</td> <td style="padding: 1pt 9pt 1pt 7pt; width: 27.87%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">5.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">Money Market Funds/Cash and Cash Equivalents</td> <td style="padding: 1pt 9pt 1pt 7.87pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">Commodities</td> <td style="padding: 1pt 9pt 1pt 6.2pt; width: 27.87%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 3pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">Commodities Funds</td> <td style="padding: 1pt 9pt 3pt 7.23pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">0.0%</td> </tr> </table> </div> <br/>Note: Above allocations may not sum up to 100% due to rounding. <br/><br/> 1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/><br/> The table above shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date Retirement Income Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/> The Adviser will review the Fund&#8217;s strategic target allocations at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for fixed income, +/- 10% for equity, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/> As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/> In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds. <br/><br/> The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.</p></div><br /> The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/>Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/> Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.<br/><br/> Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments listed above. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed above from time to time.<br/><br/> Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk. <br/><br/>Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/> Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/>Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/> The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.<br/><br/> Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.<br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls. <br/><br/> Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.<br/><br/> These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/> High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.<br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/> Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/> Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.<br/><br/> Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk. <br/><br/> Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/> Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/> Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date Retirement Income Index, a broad-based securities market index, and the Lipper Mixed-Asset Target Today Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES</b> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td valign="top"><b>Best&nbsp;Quarter</b></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>9.91%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr> <td valign="top"><b>Worst&nbsp;Quarter</b></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="3"> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px">4th quarter, 2008</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-7.94%</b> </td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> </table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 0.06%. <b>AVERAGE ANNUAL TOTAL RETURNS <br/> (For periods ended December 31, 2017)</b> After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date Retirement Income Index, a broad-based securities market index, and the Lipper Mixed-Asset Target Today Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000113 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000115 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000114 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000117 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2020 Fund<br/> Class/Ticker: R2/JTTZX; R3/JTTPX; R4/JTTQX; R5/JTTIX; R6/JTTYX</b> <b>What is the goal of the Fund?</b> 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. <b>Fees and Expenses of the Fund</b> The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b> <b>Example</b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>Portfolio Turnover</b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 23% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies?</b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2020 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2020 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form. <br /><br /><img alt="chart" src="g624901g577462imge42414d91.jpg"></img><br/><table style="border-bottom:0.5pt solid #404040;border-collapse:collapse;border-left:0.5pt solid #404040;border-right:0.5pt solid #404040;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:100%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">40+ </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">35 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">30 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">25 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">20 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">15 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">10 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">0 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Equity </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">79.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">72.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">62.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">52.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Large Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">34.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">31.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">27.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">22.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Small/Mid Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">8.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">7.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">6.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">5.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">REIT Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">4.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">4.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">International Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">23.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">21.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">18.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">15.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">7.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">6.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">5.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Commodities </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Fixed Income </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">21.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">28.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">38.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">48.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Fixed Income Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">16.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">22.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">30.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">35.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Inflation Managed Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">High Yield Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">3.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">3.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">4.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">6.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">2.1% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">2.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">3.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr></table> <div style="clear:both;font-style:normal;font-weight:normal;line-height:9pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Note: Above allocations may not sum up to 100% due to rounding.</div><br/> 1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/><br/> The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2020 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/>The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for fixed income, +/- 10% for equity, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/> As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/> The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees. <br/><br/> In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds. <br/><br/>The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.</p></div><br />The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/> Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/> Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/> Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.<br/><br/> Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/> Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/> Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/> Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/> The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/> High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid. <br/><br/>No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. <br/><br/> These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/> Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.<br/><br/> Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/> Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/> Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/> Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2020 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2020 Funds Index, an index based on the total returns of certain mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>15.52%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-15.68%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 0.46%. <b>AVERAGE ANNUAL TOTAL RETURNS <br/> (For periods ended December 31, 2017)</b> After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2020 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2020 Funds Index, an index based on the total returns of certain mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000123 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000127 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2025 Fund<br/>Class/Ticker: R2/JNSZX; R3/JNSPX; R4/JNSQX; R5/JNSIX; R6/JNSYX</b> <b>What is the goal of the Fund?</b> 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. <b>Fees and Expenses of the Fund </b> The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 26% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2025 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2025 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.<br/><br/><img alt="chart" src="g624901g577462imge42414d91.jpg"></img><br/><br/> <table style="border-bottom:0.5pt solid #404040;border-collapse:collapse;border-left:0.5pt solid #404040;border-right:0.5pt solid #404040;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:100%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">40+ </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">35 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">30 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">25 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">20 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">15 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">10 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">0 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Equity </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">79.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">72.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">62.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">52.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Large Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">34.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">31.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">27.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">22.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Small/Mid Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">8.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">7.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">6.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">5.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">REIT Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">4.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">4.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">International Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">23.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">21.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">18.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">15.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">7.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">6.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">5.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Commodities </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Fixed Income </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">21.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">28.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">38.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">48.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Fixed Income Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">16.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">22.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">30.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">35.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Inflation Managed Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">High Yield Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">3.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">3.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">4.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">6.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">2.1% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">2.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">3.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr></table> <div style="clear:both;font-style:normal;font-weight:normal;line-height:9pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Note: Above allocations may not sum up to 100% due to rounding.</div><br/>1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.<br/><br/>The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2025 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.<br/><br/>The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 10% for equity, +/- 15% for fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.<br/><br/>As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/>The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees. <br/><br/>In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.<br/><br/>The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.</p></div><br />The Fund is subject to the main risks noted below, any of which may adversely affect the Fund's performance and ability to meet its investment objective. <br/><br/>Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund's strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically. <br/><br/>Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund's investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund's Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund's investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund's investments in an underlying fund may create a conflict of interest. In addition, the Adviser's authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/>Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund's tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time. <br/><br/>Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company's financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund's or the underlying fund's portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund's investment decreases in value. <br/><br/>Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund's exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk. <br/><br/>Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund's investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund's securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer's securities. <br/><br/>Certain underlying funds invest in mortgage-related and asset-backed securities including so-called "sub-prime" mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for "sub-prime" mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/>Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/>The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/>High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid. <br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund's securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/>General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls. <br/><br/>Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded "delivery versus payment," an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. <br/><br/>These risks are magnified in countries in "emerging markets." Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/>Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs. <br/><br/>Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term. <br/><br/>Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund's or an underlying fund's original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/>Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk. <br/><br/>Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase. <br/><br/>Securities and Financial Instruments Risk. The Fund's direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk). <br/><br/>Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares' values may fluctuate in response to events affecting that industry or sector. <br/><br/>Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund's shares may adversely affect the fund's performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.<br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2025 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2025 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES</b> <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>17.12%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-17.45%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 0.85%. After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2025 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2025 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000133 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000136 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000137 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2030 Fund<br/>Class/Ticker: R2/JSMZX; R3/JSMNX; R4/JSMQX; R5/JSMIX; R6/JSMYX</b> <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund</b> The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 30% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2030 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2030 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.<br/><br/><img alt="chart" src="g624901g577462imge42414d91.jpg"></img><br/><br/><table style="border-bottom:0.5pt solid #404040;border-collapse:collapse;border-left:0.5pt solid #404040;border-right:0.5pt solid #404040;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:100%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">40+ </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">35 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">30 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">25 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">20 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">15 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">10 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">0 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Equity </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">79.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">72.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">62.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">52.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Large Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">34.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">31.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">27.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">22.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Small/Mid Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">8.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">7.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">6.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">5.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">REIT Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">4.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">4.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">International Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">23.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">21.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">18.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">15.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">7.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">6.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">5.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Commodities </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Fixed Income </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">21.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">28.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">38.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">48.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Fixed Income Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">16.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">22.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">30.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">35.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Inflation Managed Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">High Yield Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">3.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">3.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">4.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">6.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">2.1% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">2.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">3.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr></table> <div style="clear:both;font-style:normal;font-weight:normal;line-height:9pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Note: Above allocations may not sum up to 100% due to rounding.</div><br/>1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.<br/><br/>The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2030 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.<br/><br/>The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/>As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/>The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees. <br/><br/>In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.<br/><br/>The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.</p></div><br />The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/>Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically. <br/><br/>Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.<br/><br/>Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time. <br/><br/>Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value. <br/><br/>General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls. <br/><br/>Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. <br/><br/>These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/>Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/>Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/>Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/>Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/>The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/>High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid. <br/><br/>No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.<br/><br/>Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs. <br/><br/>Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term. <br/><br/>Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.<br/><br/>Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk. <br/><br/>Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase. <br/><br/>Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk). <br/><br/>Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/>Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2030 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2030 Funds Index, an index based on the total returns of certain mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES </b> <b>AVERAGE ANNUAL TOTAL RETURNS<br/> (For periods ended December 31, 2017)</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>18.38%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-19.09%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 1.28%. After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2030 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2030 Funds Index, an index based on the total returns of certain mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. <b>Worst Quarter</b> 2015-09-30 <b>Best Quarter</b> 2013-12-31 <b>Worst Quarter</b> 2017-06-30 <b>Best Quarter</b> 2017-03-31 <b>Best Quarter</b> 2009-06-30 <b>Worst Quarter</b> 2008-12-31 <b>Worst Quarter</b> 2008-12-31 <b>Best Quarter</b> 2009-06-30 <b>Worst Quarter</b> 2008-12-31 <b>Best Quarter</b> 2009-06-30 <b>Best Quarter</b> 2009-06-30 The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000143 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000147 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2035 Fund<br/>Class/Ticker: R2/SRJZX; R3/SRJPX; R4/SRJQX; R5/SRJIX; R6/SRJYX</b> <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund </b> The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b> <b>Example</b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 54% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2035 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2035 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.<br /><br /><img alt="chart" src="g624901g577462imge42414d91.jpg"></img><br/><br/><table style="border-bottom:0.5pt solid #404040;border-collapse:collapse;border-left:0.5pt solid #404040;border-right:0.5pt solid #404040;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:100%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">40+ </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">35 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">30 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">25 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">20 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">15 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">10 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">0 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Equity </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">79.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">72.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">62.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">52.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Large Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">34.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">31.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">27.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">22.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Small/Mid Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">8.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">7.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">6.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">5.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">REIT Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">4.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">4.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">International Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">23.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">21.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">18.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">15.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">7.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">6.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">5.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Commodities </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Fixed Income </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">21.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">28.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">38.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">48.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Fixed Income Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">16.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">22.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">30.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">35.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Inflation Managed Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">High Yield Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">3.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">3.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">4.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">6.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">2.1% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">2.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">3.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr></table> <div style="clear:both;font-style:normal;font-weight:normal;line-height:9pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Note: Above allocations may not sum up to 100% due to rounding.</div><br/>1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.<br/><br/>The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2035 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/>The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/>As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/>The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees. <br/><br/>In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.<br/><br/>The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.<br/><br/> <div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%"> An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you. </p></div><br />The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/>Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically. <br/><br/>Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.<br/><br/>Tactical Allocation Risk.<b> </b>The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time. <br/><br/>Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value. <br/><br/>General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls. <br/><br/>Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. <br/><br/>These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/>Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/>Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/>Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/>Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/>The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/>High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid. <br/><br/>No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.<br/><br/>Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs. <br/><br/>Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term. <br/><br/>Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.<br/><br/>Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk. <br/><br/>Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase. <br/><br/>Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk). <br/><br/>Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase<b> </b>the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector. <br/><br/>Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2035 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2035 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES</b> <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017) </b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>19.23%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-19.28%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 1.33%. After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2035 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2035 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000153 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000157 column period compact * ~</div> <b>JPMorgan SmartRetirement 2040 Fund</b> <br/><b>Class/Ticker: R2/SMTZX; R3/SMTPX; R4/SMTQX; R5/SMTIX; R6/SMTYX </b> <b>What is the goal of the Fund?</b> 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. <b>Fees and Expenses of the Fund </b> The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>Portfolio Turnover</b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 29% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2040 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2040 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.<br /><br /><img alt="chart" src="g624901g577462imge42414d91.jpg"></img><br/><br/> <table style="border-bottom:0.5pt solid #404040;border-collapse:collapse;border-left:0.5pt solid #404040;border-right:0.5pt solid #404040;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:100%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">40+ </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">35 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">30 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">25 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">20 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">15 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">10 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">0 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Equity </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">79.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">72.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">62.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">52.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Large Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">34.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">31.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">27.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">22.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Small/Mid Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">8.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">7.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">6.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">5.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">REIT Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">4.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">4.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">International Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">23.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">21.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">18.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">15.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">7.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">6.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">5.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Commodities </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Fixed Income </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">21.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">28.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">38.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">48.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Fixed Income Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">16.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">22.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">30.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">35.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Inflation Managed Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">High Yield Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">3.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">3.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">4.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">6.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">2.1% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">2.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">3.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr></table> <div style="clear:both;font-style:normal;font-weight:normal;line-height:9pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Note: Above allocations may not sum up to 100% due to rounding.</div><br/>1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.<br/><br/>The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2040 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/>The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/>As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/>The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees. <br/><br/>In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.<br/><br/>The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you. </p></div><br />The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/>Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically. <br/><br/>Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.<br/><br/>Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time. <br/><br/>Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value. <br/><br/>General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls. <br/><br/>Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. <br/><br/>These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/>Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/>Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/>Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/>Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/>The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/>High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid. <br/><br/>No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.<br/><br/>Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs. <br/><br/>Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term. <br/><br/>Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.<br/><br/>Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/>Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase. <br/><br/>Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk). <br/><br/>Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/>Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund. </p></div> <b>The Fund&#8217;s Past Performance</b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2040 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2040 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES</b> <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>19.18%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-19.51%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 1.64%. After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2040 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2040 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000163 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000166 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000164 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000167 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2045 Fund <br/>Class/Ticker: R2/JSAZX; R3/JSAPX; R4/JSAQX; R5/JSAIX; R6/JSAYX</b> <b>What is the goal of the Fund?</b> 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. <b>Fees and Expenses of the Fund</b> The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b> <b>Example</b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>Portfolio Turnover</b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 26% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies?</b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2045 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2045 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form. <br/><br/><img src="g624901g577462imge42414d91.jpg"></img><br/><br/> <table style="border-bottom:0.5pt solid #404040;border-collapse:collapse;border-left:0.5pt solid #404040;border-right:0.5pt solid #404040;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:100%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">40+ </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">35 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">30 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">25 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">20 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">15 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">10 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">0 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Equity </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">79.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">72.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">62.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">52.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Large Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">34.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">31.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">27.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">22.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Small/Mid Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">8.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">7.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">6.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">5.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">REIT Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">4.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">4.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">International Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">23.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">21.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">18.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">15.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">7.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">6.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">5.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Commodities </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Fixed Income </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">21.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">28.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">38.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">48.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Fixed Income Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">16.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">22.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">30.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">35.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Inflation Managed Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">High Yield Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">3.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">3.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">4.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">6.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">2.1% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">2.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">3.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr></table> <div style="clear:both;font-style:normal;font-weight:normal;line-height:9pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Note: Above allocations may not sum up to 100% due to rounding.</div> <br/> 1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.<br/><br/> The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2045 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/> The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/> As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/> The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees.<br/><br/> In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.<br/><br/> The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments. <br/><br/><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.</p></div><br/> The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective.<br/><br/> Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/> Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/> Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.<br/><br/> Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. <br/><br/> These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.<br/><br/> Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/> Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/> Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/> The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/> High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.<br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/> Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.<br/><br/> Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/> Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/> Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/> Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/> Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br/><br/><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/> You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2045 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2045 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES </b> <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>19.15%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-19.29%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 1.80%. After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who holds their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2045 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2045 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who holds their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund's year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000173 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000177 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2050 Fund <br/>Class/Ticker: R2/JTSZX; R3/JTSPX; R4/JTSQX; R5/JTSIX; R6/JTSYX</b> <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund</b> The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value <br/>of your investment)</b> <b>Example</b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>Portfolio Turnover</b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 25% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies?</b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2050 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2050 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form. <br/> <br/> <img src="g624901g577462imge42414d91.jpg"></img><br/><br/> <table style="border-bottom:0.5pt solid #404040;border-collapse:collapse;border-left:0.5pt solid #404040;border-right:0.5pt solid #404040;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:100%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">40+ </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">35 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">30 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">25 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">20 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">15 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">10 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">0 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Equity </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">79.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">72.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">62.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">52.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Large Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">34.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">31.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">27.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">22.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Small/Mid Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">8.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">7.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">6.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">5.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">REIT Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">4.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">4.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">International Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">23.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">21.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">18.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">15.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">7.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">6.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">5.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Commodities </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Fixed Income </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">21.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">28.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">38.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">48.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Fixed Income Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">16.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">22.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">30.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">35.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Inflation Managed Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">High Yield Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">3.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">3.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">4.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">6.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">2.1% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">2.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">3.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr></table> <div style="clear:both;font-style:normal;font-weight:normal;line-height:9pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Note: Above allocations may not sum up to 100% due to rounding.</div> <br/> 1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.<br/><br/> The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2050 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/> The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/> As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/> The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees. <br/><br/> In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds. <br/> <br/>The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments. <br/><br/><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.</p></div><br/> The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective.<br/><br/> Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/> Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/> Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.<br/><br/> Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. <br/><br/> These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.<br/><br/> Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/> Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/> Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/> The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/> High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.<br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/> Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.<br/><br/> Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/> Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/> Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/> Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/> Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br/><br/><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.<br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2050 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2050 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES </b> <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>18.98%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-19.17%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 1.81%. After-tax returns are shown only for the Class R6 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor&#8217;s tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2050 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2050 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 After-tax returns are shown only for the Class R6 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor&#8217;s tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000183 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000187 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2055 Fund</b> <br/><b>Class/Ticker: R2/JFFRX; R3/JFFPX; R4/JFFQX; R5/JFFIX; R6/JFFYX</b> <b>What is the goal of the Fund?</b> 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. <b>ANNUAL FUND OPERATING EXPENSES<br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b> <b>Fees and Expenses of the Fund</b> The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>Example</b> <b>What are the Fund&#8217;s main investment strategies? </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>Portfolio Turnover</b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 21% of the average value of its portfolio. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2055 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2055 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.<br/><br/><img alt="chart" src="g624901g577462imge42414d91.jpg"></img><br/><br/><table style="border-bottom:0.5pt solid #404040;border-collapse:collapse;border-left:0.5pt solid #404040;border-right:0.5pt solid #404040;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:100%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">40+ </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">35 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">30 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">25 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">20 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">15 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">10 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">0 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Equity </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">79.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">72.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">62.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">52.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Large Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">34.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">31.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">27.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">22.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Small/Mid Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">8.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">7.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">6.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">5.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">REIT Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">4.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">4.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">International Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">23.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">21.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">18.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">15.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">7.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">6.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">5.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Commodities </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Fixed Income </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">21.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">28.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">38.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">48.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Fixed Income Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">16.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">22.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">30.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">35.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Inflation Managed Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">High Yield Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">3.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">3.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">4.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">6.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">2.1% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">2.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">3.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr></table> <div style="clear:both;font-style:normal;font-weight:normal;line-height:9pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Note: Above allocations may not sum up to 100% due to rounding.</div><br/>1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/><br/> The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2055 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/> The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.<br/><br/> As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time.<br/><br/> The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees.<br/><br/> In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.<br/><br/> The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.<br/><br/> <div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%"> An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you. </p></div><br />The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/>Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically. <br/><br/>Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/>Tactical Allocation Risk.<b> </b>The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time. <br/><br/>Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value. <br/><br/>General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls. <br/><br/>Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. <br/><br/>These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/>Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk. <br/><br/>Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/>Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/>Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/>The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/>High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid. <br/><br/>No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/>Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITs are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs. <br/><br/>Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term. <br/><br/>Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/>Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk. <br/><br/>Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase. <br/><br/>Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk). <br/><br/>Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase<b> </b>the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector. <br/><br/>Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class R2 Shares has varied from year to year over the past five calendar years. The table shows the average annual total returns for the past one year, five years and life of the Fund. It compares that performance to the S&amp;P Target Date 2055 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R3 Shares. The actual returns of Class R3 Shares would have been different than those shown because Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES </b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2013</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>7.47%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">3rd quarter, 2015</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-7.76%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 1.76%. <b>AVERAGE ANNUAL TOTAL RETURNS<br/> (For periods ended December 31, 2017)</b> After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class R2 Shares has varied from year to year over the past five calendar years. The table shows the average annual total returns for the past one year, five years and life of the Fund. It compares that performance to the S&P Target Date 2055 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. <b>Worst Quarter</b> 2008-12-31 <b>Worst Quarter</b> 2008-12-31 <b>Best Quarter</b> 2009-06-30 <b>Worst Quarter</b> 2008-12-31 <b>Best Quarter</b> 2009-06-30 <b>Best Quarter </b> 2009-06-30 <b>Worst Quarter</b> 2008-12-31 <b>Worst Quarter</b> 2008-12-31 <b>Best Quarter</b> 2009-06-30 <b>Best Quarter</b> 2013-12-31 <b>Worst Quarter</b> 2015-09-30 The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000193 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000194 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2060 Fund <br/> Class/Ticker: R2/JAKZX; R3/JAKPX; R4/JAKQX; R5/JAKIX; R6/JAKYX</b> <b>What is the goal of the Fund?</b> 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. <b>Fees and Expenses of the Fund</b> The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/>of your investment)</b> <b>Example</b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>Portfolio Turnover</b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 39% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies?</b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2060 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2060 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.<br /><br /><img alt="chart" src="g624901g577462imge42414d91.jpg"></img><br/><br/><table style="border-bottom:0.5pt solid #404040;border-collapse:collapse;border-left:0.5pt solid #404040;border-right:0.5pt solid #404040;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:100%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">40+ </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">35 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">30 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">25 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">20 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">15 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">10 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">0 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Equity </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">79.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">72.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">62.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">52.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Large Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">34.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">31.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">27.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">22.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Small/Mid Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">8.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">7.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">6.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">5.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">REIT Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">4.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">4.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">International Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">23.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">21.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">18.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">15.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">7.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">6.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">5.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Commodities </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Fixed Income </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">21.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">28.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">38.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">48.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Fixed Income Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">16.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">22.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">30.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">35.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Inflation Managed Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">High Yield Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">3.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">3.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">4.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">6.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">2.1% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">2.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">3.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr></table> <div style="clear:both;font-style:normal;font-weight:normal;line-height:9pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Note: Above allocations may not sum up to 100% due to rounding.</div><br/>1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/><br/> The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2060+ Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/> The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/> As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/> The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees. <br/><br/> In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds. <br/><br/>The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments. <br/><br/> <div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%"> An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you. </p></div><br /> The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/> Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/> Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/> Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.<br/><br/> Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. <br/><br/> These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/> Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/> Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/> Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/> The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/> High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.<br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/> Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITs are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.<br/><br/> Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/> Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/> Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/> Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/> Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector. <br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%"> Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/> You could lose money investing in the Fund. </p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. The bar chart shows the performance of the Fund&#8217;s Class R2 Shares for the past calendar year. The table shows the average annual total returns for the past one year and life of the Fund. The table compares that performance to the S&amp;P Target Date 2060+ Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Index, an index based on the total returns of all mutual funds within the Funds designated category as determined by Lipper. Unlike the S&amp;P Index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Returns for Class R3 Shares prior to their inception date are based on the performance of Class A Shares (which are not offered in this prospectus). The actual returns for Class R3 Shares would have been different than those shown because Class R3 Shares have different expenses than Class A Shares. Returns for Class R4 Shares prior to their inception date are based on the performance of Class I Shares (which are not offered in this prospectus). The actual return for Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future, historical performance may give you some indication of the risks of investing in the Fund. Updated performance information will be available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">1st quarter, 2017 </td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>6.13%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2017 </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>3.67%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 1.90%. <b>AVERAGE ANNUAL TOTAL RETURNS<br/> (For periods ended December 31, 2017)</b> After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows the performance of the Fund&#8217;s Class R2 Shares for the past calendar year. The table shows the average annual total returns for the past one year and life of the Fund. The table compares that performance to the S&amp;P Target Date 2060+ Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Index, an index based on the total returns of all mutual funds within the Funds designated category as determined by Lipper. Unlike the S&amp;P Index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future, historical performance may give you some indication of the risks of investing in the Fund. www.jpmorganfunds.com 1-800-480-4111 After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000203 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000204 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000207 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> Income Fund <br/>Class/Ticker: T/* </b><br/><br/><sup>*</sup> The share class is currently not offered to the public. <b>What is the goal of the Fund? </b> The Fund seeks current income and some capital appreciation. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in &#8220;Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION&#8221; on page 92 of the prospectus and in &#8220;PURCHASES, REDEMPTIONS AND EXCHANGES&#8221; in Appendix A to Part II of the Statement of Additional Information. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 23% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> Income Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors who are retired or about to retire soon. The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, with an emphasis on fixed income funds over equity funds and other funds. The Fund&#8217;s strategic target allocations among various asset and sub-asset classes as of November 1, 2018 are set forth below:<div> <table cellpadding="0" cellspacing="0" style="width: 100%; margin-top: 5pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: 0.5pt; border-bottom-width: 0.5pt; border-left-width: 0.5pt; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; border-collapse: collapse; empty-cells: show;"> <tr style="page-break-inside: avoid;"> <td colspan="2" style="padding: 12pt 9pt 1.5pt 3pt; width: 100%; line-height: 13pt; font-weight: bold; vertical-align: bottom;">Strategic Target Allocations<sup>1</sup></td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 3.5pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; font-weight: bold; vertical-align: bottom;">Fixed Income</td> <td style="padding: 3.5pt 9pt 1pt 2.62pt; width: 27.87%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">59.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">U.S. Fixed Income Funds</td> <td style="padding: 1pt 9pt 1pt 5.02pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.5%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">Inflation Managed Funds</td> <td style="padding: 1pt 9pt 1pt 7.83pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">High Yield Funds</td> <td style="padding: 1pt 9pt 1pt 9.17pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.1%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">Emerging Markets Debt Funds</td> <td style="padding: 1pt 9pt 1pt 7.93pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.4%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">Equity</td> <td style="padding: 1pt 9pt 1pt 2pt; width: 27.87%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">36.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">U.S. Large Cap Equity Funds</td> <td style="padding: 1pt 9pt 1pt 4.7pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.8%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">U.S. Small/Mid Cap Equity Funds</td> <td style="padding: 1pt 9pt 1pt 8.71pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">REIT Funds</td> <td style="padding: 1pt 9pt 1pt 8.38pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">2.2%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">International Equity Funds</td> <td style="padding: 1pt 9pt 1pt 4.06pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">10.8%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">Emerging Markets Equity Funds</td> <td style="padding: 1pt 9pt 1pt 7.92pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.6%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; font-weight: bold; vertical-align: bottom;">Money Market/Cash and Cash Equivalents</td> <td style="padding: 1pt 9pt 1pt 7pt; width: 27.87%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">5.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">Money Market Funds/Cash and Cash Equivalents</td> <td style="padding: 1pt 9pt 1pt 7.87pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 3pt; width: 79.64%; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">Commodities</td> <td style="padding: 1pt 9pt 1pt 6.2pt; width: 27.87%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 3pt 3pt; width: 79.64%; line-height: 10pt; vertical-align: bottom;">Commodities Funds</td> <td style="padding: 1pt 9pt 3pt 7.23pt; width: 27.87%; text-align: center; line-height: 10pt; vertical-align: bottom;">0.0%</td> </tr> </table> </div> <br/>Note: Above allocations may not sum up to 100% due to rounding. <br/><br/> 1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/><br/> The table above shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date Retirement Income Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/> The Adviser will review the Fund&#8217;s strategic target allocations at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for fixed income, +/- 10% for equity, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/> As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/> In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds. <br/><br/> The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%"> An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you. </p></div><br />The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/> Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/> Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/> Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments listed above. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed above from time to time.<br/><br/> Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/> Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/> Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/> The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/> Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs. <br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.<br/><br/> These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/> High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid. <br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/> Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/> Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/> Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/> Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/> Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/> You could lose money investing in the Fund. </p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date Retirement Income Index, a broad-based securities market index, and the Lipper Mixed-Asset Target Today Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#8212; CLASS A SHARES</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>9.99%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-7.94%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 0.35%. <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b> <b>Worst Quarter </b> 2017-06-30 <b>Best Quarter </b> 2017-03-31 After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date Retirement Income Index, a broad-based securities market index, and the Lipper Mixed-Asset Target Today Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years.<br/><br/>The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses. www.jpmorganfunds.com 1-800-480-4111 The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000213 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000215 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000214 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000217 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000212 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2020 Fund<br/>Class/Ticker: T/*</b><br/><br/><sup>*</sup> The share class is currently not offered to the public. <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in "Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION" on page 92 of the prospectus and in "PURCHASES, REDEMPTIONS AND EXCHANGES" in Appendix A to Part II of the Statement of Additional Information. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> "Acquired Fund (Underlying Fund) Fees and Expenses" are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES<br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 23% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2020 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2020 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form. <br /><br /><img alt="chart" src="g624901g582769imgebf92ea11.jpg"></img><br/><table style="border-bottom:0.5pt solid #404040;border-collapse:collapse;border-left:0.5pt solid #404040;border-right:0.5pt solid #404040;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:100%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">40+ </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">35 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">30 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">25 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">20 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">15 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">10 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">0 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Equity </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">79.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">72.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">62.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">52.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Large Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">34.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">31.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">27.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">22.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Small/Mid Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">8.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">7.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">6.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">5.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">REIT Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">4.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">4.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">International Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">23.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">21.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">18.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">15.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">7.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">6.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">5.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Commodities </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Fixed Income </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">21.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">28.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">38.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">48.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Fixed Income Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">16.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">22.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">30.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">35.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Inflation Managed Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">High Yield Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">3.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">3.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">4.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">6.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">2.1% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">2.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">3.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr></table> <div style="clear:both;font-style:normal;font-weight:normal;line-height:9pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Note: Above allocations may not sum up to 100% due to rounding.</div><br/> 1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/><br/> The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2020 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/>The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for fixed income, +/- 10% for equity, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/> As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/> The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees. <br/><br/> In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds. <br/><br/>The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.<br/><br/> <div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.</p></div><br /> The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/> Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/> Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/> Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.<br/><br/> Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/> Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/> Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/> Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/> The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/> High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid. <br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. <br/><br/> These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/> Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.<br/><br/> Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/> Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/> Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/> Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/> You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2020 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2020 Funds Index, an index based on the total returns of certain mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#8212; CLASS A SHARES</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009 </td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>15.58%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008 </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-15.68%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 0.71%. <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. 10/31/19 You could lose money investing in the Fund. the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. Because Class T Shares have not yet commenced operations as of the date of this prospectus the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years.<br/><br/>The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses. It compares that performance to the S&amp;P Target Date 2020 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2020 Funds Index, an index based on the total returns of certain mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000223 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000225 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000224 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000227 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000222 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2025 Fund<br/>Class/Ticker: T/*</b><br/><br/><sup>*</sup> The share class is currently not offered to the public. <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in &#8220;Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION&#8221; on page 92 of the prospectus and in &#8220;PURCHASES, REDEMPTIONS AND EXCHANGES&#8221; in Appendix A to Part II of the Statement of Additional Information. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value <br/> of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 26% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2025 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2025 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.<br/><br/><img alt="chart" src="g624901g582769imgebf92ea11.jpg"></img><br/><br/> <table style="border-bottom:0.5pt solid #404040;border-collapse:collapse;border-left:0.5pt solid #404040;border-right:0.5pt solid #404040;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"><tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:100%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">40+ </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">35 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">30 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">25 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">20 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">15 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">10 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">0 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Equity </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">79.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">72.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">62.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">52.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Large Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">34.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">31.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">27.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">22.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Small/Mid Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">8.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">7.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">6.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">5.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">REIT Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">4.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">4.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">International Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">23.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">21.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">18.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">15.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">7.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">6.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">5.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Commodities </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Fixed Income </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">21.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">28.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">38.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">48.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Fixed Income Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">16.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">22.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">30.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">35.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Inflation Managed Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">High Yield Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">3.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">3.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">4.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">6.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">2.1% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">2.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">3.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr></table> <div style="clear:both;font-style:normal;font-weight:normal;line-height:9pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Note: Above allocations may not sum up to 100% due to rounding.</div><br/> 1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.<br/><br/>The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2025 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.<br/><br/>The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 10% for equity, +/- 15% for fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.<br/><br/>As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time.<br/><br/>The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees.<br/><br/>In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.<br/><br/>The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.<br/><br/><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.</p></div><br/>The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective.<br/><br/>Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/>Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.<br/><br/>Tactical Allocation Risk.<b> </b>The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.<br/><br/>Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/>Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/>Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities.<br/><br/>Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.<br/><br/>Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.<br/><br/>The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.<br/><br/>High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.<br/><br/>No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.<br/><br/>General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/>Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.<br/><br/>These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.<br/><br/>Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.<br/><br/>Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/>Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.<br/><br/>Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/>Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/>Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/>Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/>Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br/><br/><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.<br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2025 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2025 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#8212; CLASS A SHARES</b> <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>17.09%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-17.45%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 1.13%. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2025 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2025 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years.<br/><br/>The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000233 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000235 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000234 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000237 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000232 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2030 Fund <br/>Class/Ticker: T/* </b><br/><br/><sup>*</sup> The share class is currently not offered to the public. <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in &#8220;Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION&#8221; on page 92 of the prospectus and in &#8220;PURCHASES, REDEMPTIONS AND EXCHANGES&#8221; in Appendix A to Part II of the Statement of Additional Information. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/>of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 30% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2030 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2030 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.<br/><br/><img alt="chart" src="g624901g582769imgebf92ea11.jpg"></img><br/><br/> <table style="border-bottom:0.5pt solid #404040;border-collapse:collapse;border-left:0.5pt solid #404040;border-right:0.5pt solid #404040;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:100%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">40+ </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">35 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">30 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">25 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">20 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">15 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">10 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">0 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Equity </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">79.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">72.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">62.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">52.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Large Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">34.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">31.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">27.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">22.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Small/Mid Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">8.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">7.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">6.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">5.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">REIT Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">4.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">4.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">International Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">23.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">21.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">18.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">15.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">7.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">6.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">5.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Commodities </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Fixed Income </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">21.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">28.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">38.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">48.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Fixed Income Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">16.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">22.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">30.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">35.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Inflation Managed Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">High Yield Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">3.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">3.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">4.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">6.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">2.1% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">2.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">3.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr></table> <div style="clear:both;font-style:normal;font-weight:normal;line-height:9pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Note: Above allocations may not sum up to 100% due to rounding.</div><br/> 1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.<br/><br/>The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2030 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.<br/><br/>The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.<br/><br/>As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time.<br/><br/>The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees.<br/><br/>In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.<br/><br/>The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.<br/><br/><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.</p></div><br/>The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective.<br/><br/>Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/>Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.<br/><br/>Tactical Allocation Risk.<b> </b>The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.<br/><br/>Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/>Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.<br/><br/>These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.<br/><br/> Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/>Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities.<br/><br/>Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.<br/><br/>Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.<br/><br/>The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.<br/><br/>High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.<br/><br/>No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.<br/><br/>Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.<br/><br/>Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/>Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.<br/><br/>Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/>Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/>Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/>Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/>Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br/><br/><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.<br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2030 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2030 Funds Index, an index based on the total returns of certain mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#8212; CLASS A SHARES</b> <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>18.46%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-19.08%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 1.56%. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2030 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2030 Funds Index, an index based on the total returns of certain mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years.<br/><br/>The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. <b>Best Quarter </b> 2009-06-30 <b>Worst Quarter </b> 2008-12-31 <b>Worst Quarter </b> 2008-12-31 <b>Best Quarter </b> 2009-06-30 The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000243 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000245 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000244 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000247 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000242 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2035 Fund</b> <br/><b>Class/Ticker: T/*</b><br/><br/><sup>*</sup> The share class is currently not offered to the public. <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in &#8220;Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION&#8221; on page 92 of the prospectus and in &#8220;PURCHASES, REDEMPTIONS AND EXCHANGES&#8221; in Appendix A to Part II of the Statement of Additional Information. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b> <b>Example </b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 28% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2035 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2035 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.<br/><br/><img alt="chart" src="g624901g582769imgebf92ea11.jpg"></img><br/><br/><table style="border-bottom:0.5pt solid #404040;border-collapse:collapse;border-left:0.5pt solid #404040;border-right:0.5pt solid #404040;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:100%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">40+ </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">35 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">30 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">25 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">20 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">15 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">10 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">0 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Equity </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">79.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">72.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">62.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">52.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Large Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">34.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">31.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">27.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">22.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Small/Mid Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">8.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">7.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">6.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">5.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">REIT Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">4.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">4.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">International Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">23.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">21.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">18.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">15.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">7.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">6.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">5.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Commodities </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Fixed Income </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">21.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">28.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">38.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">48.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Fixed Income Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">16.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">22.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">30.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">35.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Inflation Managed Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">High Yield Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">3.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">3.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">4.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">6.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">2.1% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">2.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">3.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr></table> <div style="clear:both;font-style:normal;font-weight:normal;line-height:9pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Note: Above allocations may not sum up to 100% due to rounding.</div><br/>1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/><br/> The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2035 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/> The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.<br/><br/> As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time.<br/><br/> The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees.<br/><br/> In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.<br/><br/> The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.<br/><br/> <div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%"> An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you. </p></div><br />The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/>Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically. <br/><br/>Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/>Tactical Allocation Risk.<b> </b>The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time. <br/><br/>Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value. <br/><br/>General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls. <br/><br/>Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. <br/><br/>These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/>Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk. <br/><br/>Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/>Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/>Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/>The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/>High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid. <br/><br/>No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/>Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs. <br/><br/>Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term. <br/><br/>Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/>Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk. <br/><br/>Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase. <br/><br/>Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk). <br/><br/>Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase<b> </b>the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector. <br/><br/>Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2035 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2035 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#8212; CLASS A SHARES </b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>19.32%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-19.28%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 1.65%. <b>AVERAGE ANNUAL TOTAL RETURNS<br/> (For periods ended December 31, 2017)</b> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2035 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2035 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years.<br/><br/>The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. <b>Worst Quarter</b> 2008-12-31 <b>Best Quarter</b> 2009-06-30 <b>Worst Quarter</b> 2008-12-31 <b>Best Quarter </b> 2009-06-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000253 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000255 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000254 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000257 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000252 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2040 Fund</b><br/><b>Class/Ticker: T/*</b><br/><br/><sup>*</sup> The share class is currently not offered to the public. <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in &#8220;Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION&#8221; on page 92 of the prospectus and in &#8220;PURCHASES, REDEMPTIONS AND EXCHANGES&#8221; in Appendix A to Part II of the Statement of Additional Information. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 29% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2040 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2040 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.<br/><br/><img alt="chart" src="g624901g582769imgebf92ea11.jpg"></img><br/><br/><table style="border-bottom:0.5pt solid #404040;border-collapse:collapse;border-left:0.5pt solid #404040;border-right:0.5pt solid #404040;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:100%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">40+ </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">35 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">30 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">25 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">20 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">15 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">10 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">0 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Equity </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">79.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">72.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">62.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">52.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Large Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">34.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">31.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">27.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">22.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Small/Mid Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">8.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">7.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">6.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">5.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">REIT Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">4.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">4.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">International Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">23.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">21.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">18.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">15.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">7.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">6.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">5.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Commodities </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Fixed Income </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">21.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">28.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">38.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">48.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Fixed Income Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">16.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">22.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">30.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">35.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Inflation Managed Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">High Yield Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">3.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">3.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">4.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">6.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">2.1% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">2.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">3.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr></table> <div style="clear:both;font-style:normal;font-weight:normal;line-height:9pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Note: Above allocations may not sum up to 100% due to rounding.</div><br/>1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/><br/> The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2040 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/> The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.<br/><br/> As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time.<br/><br/> The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees.<br/><br/> In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.<br/><br/> The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.<br/><br/> <div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%"> An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you. </p></div><br />The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/>Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically. <br/><br/>Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/>Tactical Allocation Risk.<b> </b>The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time. <br/><br/>Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value. <br/><br/>General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls. <br/><br/>Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. <br/><br/>These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/>Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk. <br/><br/>Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/>Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/>Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/>The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/>High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid. <br/><br/>No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/>Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs. <br/><br/>Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term. <br/><br/>Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/>Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk. <br/><br/>Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase. <br/><br/>Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk). <br/><br/>Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase<b> </b>the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector. <br/><br/>Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2040 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2040 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#8212; CLASS A SHARES </b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>19.23%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-19.51%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 1.96%. <b>AVERAGE ANNUAL TOTAL RETURNS <br/> (For periods ended December 31, 2017)</b> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2040 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2040 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. www.jpmorganfunds.com 1-800-480-4111 The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000263 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000265 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000264 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000267 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000262 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2045 Fund <br/>Class/Ticker: T/* </b><br/><br/><sup>*</sup> The share class is currently not offered to the public. <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in &#8220;Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION&#8221; on page 92 of the prospectus and in &#8220;PURCHASES, REDEMPTIONS AND EXCHANGES&#8221; in Appendix A to Part II of the Statement of Additional Information. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value <br/>of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 26% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2045 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2045 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.<br /><br /><img alt="chart" src="g624901g582769imgebf92ea11.jpg"></img><br/><br/> <table style="border-bottom:0.5pt solid #404040;border-collapse:collapse;border-left:0.5pt solid #404040;border-right:0.5pt solid #404040;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:100%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">40+ </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">35 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">30 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">25 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">20 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">15 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">10 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">0 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Equity </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">79.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">72.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">62.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">52.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Large Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">34.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">31.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">27.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">22.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Small/Mid Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">8.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">7.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">6.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">5.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">REIT Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">4.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">4.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">International Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">23.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">21.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">18.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">15.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">7.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">6.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">5.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Commodities </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Fixed Income </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">21.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">28.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">38.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">48.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Fixed Income Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">16.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">22.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">30.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">35.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Inflation Managed Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">High Yield Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">3.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">3.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">4.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">6.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">2.1% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">2.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">3.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr></table> <div style="clear:both;font-style:normal;font-weight:normal;line-height:9pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Note: Above allocations may not sum up to 100% due to rounding.</div> <br/>1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/><br/>The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2045 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/>The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/>As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/>The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees. <br/><br/>In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.<br/><br/>The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you. </p></div><br />The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/>Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically. <br/><br/>Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/>Tactical Allocation Risk.<b> </b>The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time. <br/><br/>Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value. <br/><br/>General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls. <br/><br/>Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. <br/><br/>These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/> Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/>Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/>Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/>Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/>The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/>High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid. <br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.<br/><br/>Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs. <br/><br/>Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term. <br/><br/>Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/>Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk. <br/><br/>Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase. <br/><br/>Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk). <br/><br/>Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase<b> </b>the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector. <br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2045 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2045 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#8212; CLASS A SHARES </b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>19.13%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-19.29%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 2.07%. <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2045 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2045 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000273 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000275 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000274 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000277 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000272 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2050 Fund <br/>Class/Ticker: T/*</b> <br/><br/><sup>*</sup> The share class is currently not offered to the public. <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in &#8220;Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION&#8221; on page 92 of the prospectus and in &#8220;PURCHASES, REDEMPTIONS AND EXCHANGES&#8221; in Appendix A to Part II of the Statement of Additional Information. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 25% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2050 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2050 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.<br /><br /><img alt="chart" src="g624901g582769imgebf92ea11.jpg"></img><br/><br/> <table style="border-bottom:0.5pt solid #404040;border-collapse:collapse;border-left:0.5pt solid #404040;border-right:0.5pt solid #404040;empty-cells:show;margin-top:5pt;width:98.95%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:13pt;padding-bottom:3.5pt;padding-left:3pt;padding-right:9pt;padding-top:12pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:100%;" colspan="12">Strategic Target Allocations<sup>1</sup> </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:3pt;padding-right:2pt;padding-top:3.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Years to Target Date </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">40+ </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">35 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">30 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">25 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">20 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">15 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">10 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">0 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:2pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-5 </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:2pt;padding-left:2pt;padding-right:9pt;padding-top:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">-10 </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Equity </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">86.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">79.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.47pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">72.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">62.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.32pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">52.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:9pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.76%;">36.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Large Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.27pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">37.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">34.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.19pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">31.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.05pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">27.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.04pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">22.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.70pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">15.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Small/Mid Cap Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.97pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">8.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.93pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">8.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.07pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">7.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.79pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">6.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">5.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.71pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">3.7% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">REIT Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.94pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">5.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.91pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">4.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.49pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">4.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">3.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.38pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">2.2% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">International Equity Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.43pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.86%;">25.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.16pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.66%;">23.7% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">21.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.34pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">18.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.51pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">15.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.06pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">10.8% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Equity Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.18pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.86%;">8.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.91pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.66%;">7.9% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.24pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">7.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.96pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">6.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">5.2% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.92pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.6% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:25.55%;">Commodities </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.20pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Commodities Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.23pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">0.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Fixed Income </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3.25pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">14.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.76pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">21.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">28.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.09pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">38.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2pt;padding-right:2pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">48.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:2.62pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">59.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">U.S. Fixed Income Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">9.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.55pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">16.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">22.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:3.20pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">30.4% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:4.29pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">35.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:5.02pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">37.5% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Inflation Managed Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.89pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">3.5% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">High Yield Funds </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.22pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">3.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.57pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">3.3% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.83pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.74%;">3.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:7.86pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.77%;">4.9% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:8.36pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.90%;">6.6% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:1pt;padding-left:9.17pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">9.1% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:12pt;padding-right:2pt;padding-top:1pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.55%;">Emerging Markets Debt Funds </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.57pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">1.5% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.27pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">1.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:9.11pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.74%;">2.1% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.07pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.77%;">2.8% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:8.43pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.90%;">3.0% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:2pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td> <td style="border-bottom:1pt solid #000000;font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:2pt;padding-left:7.93pt;padding-right:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">3.4% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:3pt;padding-right:2pt;padding-top:1.75pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.74pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:5.72pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.11pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.24pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:6.94pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:2pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:bold;line-height:10pt;padding-bottom:1pt;padding-left:7.00pt;padding-right:9pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:12pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:25.55%;">Money Market Funds/Cash and<br/> Cash Equivalents </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.77pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.86%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:6.76pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.66%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.15pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.74%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.28pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.77%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.98pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:6.90%;">0.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:2pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td> <td style="font-style:normal;font-weight:normal;line-height:10pt;padding-bottom:3pt;padding-left:7.87pt;padding-right:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.76%;">5.0% </td></tr></table> <div style="clear:both;font-style:normal;font-weight:normal;line-height:9pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Note: Above allocations may not sum up to 100% due to rounding.</div> <br/>1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/><br/>The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2050 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/>The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/>As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/>The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees. <br/><br/>In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.<br/><br/>The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you. </p></div><br />The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/>Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically. <br/><br/>Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/>Tactical Allocation Risk.<b> </b>The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time. <br/><br/>Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value. <br/><br/>General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls. <br/><br/>Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. <br/><br/>These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/> Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/>Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/>Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/>Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/>The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/>High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid. <br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.<br/><br/>Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs. <br/><br/>Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term. <br/><br/>Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/>Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk. <br/><br/>Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase. <br/><br/>Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk). <br/><br/>Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase<b> </b>the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector. <br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance</b> This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&amp;P Target Date 2050 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2050 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#8212; CLASS A SHARES </b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">2nd quarter, 2009</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>19.00%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2008</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-19.17%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 2.03%. <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2050 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2050 Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. <b>Best Quarter</b> 2009-06-30 <b>Worst Quarter</b> 2008-12-31 The Fund&#8217;s year-to-date total return 2018-09-30 <b>Best Quarter</b> 2009-06-30 <b>Worst Quarter</b> 2008-12-31 The Fund&#8217;s year-to-date total return 2018-09-30 The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000283 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000285 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000284 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000287 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000282 column period compact * ~</div> <b>JPMorgan SmartRetirement<sup>&#174;</sup> 2055 Fund</b> <br/><b>Class/Ticker: T/* </b><br/><br/><sup>*</sup> The share class is currently not offered to the public. <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in &#8220;Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION&#8221; on page 92 of the prospectus and in &#8220;PURCHASES, REDEMPTIONS AND EXCHANGES&#8221; in Appendix A to Part II of the Statement of Additional Information. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value <br/>of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 21% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2055 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2055 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form. <br /><br /><img alt="chart" src="g624901g582769imgebf92ea11.jpg"></img><br/><br/><table cellpadding="0" cellspacing="0" style="width: 100%; margin-top: 5pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(64, 64, 64); border-right-width: 0.5pt; border-bottom-width: 0.5pt; border-left-width: 0.5pt; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; border-collapse: collapse; empty-cells: show;"> <tr style="page-break-inside: avoid;"> <td colspan="12" style="padding: 12pt 9pt 3.5pt 3pt; width: 100%; color: rgb(0, 0, 0); line-height: 13pt; font-weight: bold; vertical-align: bottom;">Strategic Target Allocations<sup>1</sup></td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 3.5pt 2pt 2pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Years to Target Date</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">40+</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">35</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">30</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">25</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">20</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">15</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">10</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">5</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">-5</td> <td style="padding: 3.5pt 9pt 2pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">-10</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">Equity</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">79.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.47pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">72.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">62.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.32pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">52.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">36.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">36.0%</td> <td style="padding: 1.75pt 9pt 1pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">36.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">U.S. Large Cap Equity Funds</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 3.43pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom;">34.7%</td> <td style="padding: 1pt 2pt 1pt 5.19pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">31.7%</td> <td style="padding: 1pt 2pt 1pt 5.05pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">27.3%</td> <td style="padding: 1pt 2pt 1pt 5.04pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">22.9%</td> <td style="padding: 1pt 2pt 1pt 4.7pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.8%</td> <td style="padding: 1pt 2pt 1pt 4.7pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.8%</td> <td style="padding: 1pt 9pt 1pt 4.7pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.8%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">U.S. Small/Mid Cap Equity Funds</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 6.93pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.0%</td> <td style="padding: 1pt 2pt 1pt 9.07pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">7.3%</td> <td style="padding: 1pt 2pt 1pt 7.79pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">6.3%</td> <td style="padding: 1pt 2pt 1pt 8.98pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.3%</td> <td style="padding: 1pt 2pt 1pt 8.71pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> <td style="padding: 1pt 2pt 1pt 8.71pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> <td style="padding: 1pt 9pt 1pt 8.71pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">REIT Funds</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 6.91pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">4.8%</td> <td style="padding: 1pt 2pt 1pt 7.49pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">4.3%</td> <td style="padding: 1pt 2pt 1pt 8.76pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> <td style="padding: 1pt 2pt 1pt 9.77pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.1%</td> <td style="padding: 1pt 2pt 1pt 8.38pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">2.2%</td> <td style="padding: 1pt 2pt 1pt 8.38pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">2.2%</td> <td style="padding: 1pt 9pt 1pt 8.38pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">2.2%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">International Equity Funds</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.16pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom;">23.7%</td> <td style="padding: 1pt 2pt 1pt 4.57pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">21.6%</td> <td style="padding: 1pt 2pt 1pt 4.34pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">18.6%</td> <td style="padding: 1pt 2pt 1pt 5.51pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.6%</td> <td style="padding: 1pt 2pt 1pt 4.06pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">10.8%</td> <td style="padding: 1pt 2pt 1pt 4.06pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">10.8%</td> <td style="padding: 1pt 9pt 1pt 4.06pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">10.8%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 2pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Emerging Markets Equity Funds</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.91pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">7.9%</td> <td style="padding: 1pt 2pt 2pt 9.24pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">7.2%</td> <td style="padding: 1pt 2pt 2pt 7.96pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">6.2%</td> <td style="padding: 1pt 2pt 2pt 9.15pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">5.2%</td> <td style="padding: 1pt 2pt 2pt 7.92pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.6%</td> <td style="padding: 1pt 2pt 2pt 7.92pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.6%</td> <td style="padding: 1pt 9pt 2pt 7.92pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.6%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">Commodities</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 5.72pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.11pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.24pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.94pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> <td style="padding: 1.75pt 9pt 1pt 6.2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 2pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Commodities Funds</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 6.76pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.15pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.28pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.98pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.23pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.23pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> <td style="padding: 1pt 9pt 2pt 7.23pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom;">Fixed Income</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.76pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">21.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">28.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.09pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">38.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">48.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.62pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">59.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.62pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">59.0%</td> <td style="padding: 1.75pt 9pt 1pt 2.62pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">59.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">U.S. Fixed Income Funds</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 3.55pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">16.0%</td> <td style="padding: 1pt 2pt 1pt 3.86pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">22.4%</td> <td style="padding: 1pt 2pt 1pt 3.2pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">30.4%</td> <td style="padding: 1pt 2pt 1pt 4.29pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">35.0%</td> <td style="padding: 1pt 2pt 1pt 5.02pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.5%</td> <td style="padding: 1pt 2pt 1pt 5.02pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.5%</td> <td style="padding: 1pt 9pt 1pt 5.02pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.5%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">Inflation Managed Funds</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 6.76pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.15pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.28pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 8.89pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.5%</td> <td style="padding: 1pt 2pt 1pt 7.83pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.0%</td> <td style="padding: 1pt 2pt 1pt 7.83pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.0%</td> <td style="padding: 1pt 9pt 1pt 7.83pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">High Yield Funds</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 7.57pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.3%</td> <td style="padding: 1pt 2pt 1pt 7.83pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.6%</td> <td style="padding: 1pt 2pt 1pt 7.86pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">4.9%</td> <td style="padding: 1pt 2pt 1pt 8.36pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">6.6%</td> <td style="padding: 1pt 2pt 1pt 9.17pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.1%</td> <td style="padding: 1pt 2pt 1pt 9.17pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.1%</td> <td style="padding: 1pt 9pt 1pt 9.17pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.1%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 2pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Emerging Markets Debt Funds</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 8.27pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.8%</td> <td style="padding: 1pt 2pt 2pt 9.11pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">2.1%</td> <td style="padding: 1pt 2pt 2pt 8.07pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">2.8%</td> <td style="padding: 1pt 2pt 2pt 8.43pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.0%</td> <td style="padding: 1pt 2pt 2pt 7.93pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.4%</td> <td style="padding: 1pt 2pt 2pt 7.93pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.4%</td> <td style="padding: 1pt 9pt 2pt 7.93pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.4%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom;">Money Market Funds/Cash and<br /> Cash Equivalents</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 5.72pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.11pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.24pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.94pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 7pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">5.0%</td> <td style="padding: 1.75pt 2pt 1pt 7pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">5.0%</td> <td style="padding: 1.75pt 9pt 1pt 7pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">5.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 3pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">Money Market Funds/Cash and<br /> Cash Equivalents</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 6.76pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.15pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.28pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.98pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.87pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.0%</td> <td style="padding: 1pt 2pt 3pt 7.87pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.0%</td> <td style="padding: 1pt 9pt 3pt 7.87pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.0%</td> </tr> </table><br/> Note: Above allocations may not sum up to 100% due to rounding. <br/><br/>1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/><br/> The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2055 Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/>The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/>As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/>The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees. <br/><br/>In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds. <br/><br/>The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%"> An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you. </p></div><br /> The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/>Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/> Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/>Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.<br/><br/> Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.<br/><br/> These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/>Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/>Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/>Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/> The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/>High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.<br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/>Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITs are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.<br/><br/> Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/> Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/>Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/> Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/> Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%"> Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance </b> This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past five calendar years. The table shows the average annual total returns for the past one year, five years and life of the Fund. It compares that performance to the S&amp;P Target Date 2055 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#8212; CLASS A SHARES</b> <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">4th quarter, 2013</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>7.52%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">3rd quarter, 2015</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-7.69%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 2.08%. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past five calendar years. The table shows the average annual total returns for the past one year, five years and life of the Fund. the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past five calendar years.<br/><br/>The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses. It compares that performance to the S&amp;P Target Date 2055 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Average, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. <b>Worst Quarter </b> 2008-12-31 <b>Best Quarter </b> 2009-06-30 <b>Worst Quarter </b> 2008-12-31 2012-01-31 2012-01-31 The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000293 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000296 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000295 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000294 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000297 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000292 column period compact * ~</div> <b>JPMorgan SmartRetirement 2060 Fund<br/>Class/Ticker: T/* </b><br/><br/><sup>*</sup> The share class is currently not offered to the public. <b>What is the goal of the Fund? </b> 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. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in &#8220;Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION&#8221; on page 92 of the prospectus and in &#8220;PURCHASES, REDEMPTIONS AND EXCHANGES&#8221; in Appendix A to Part II of the Statement of Additional Information. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> &#8220;Acquired Fund (Underlying Fund) Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value <br/>of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 39% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The JPMorgan SmartRetirement<sup>&#174;</sup> 2060 Fund is a &#8220;fund of funds&#8221; that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2060 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund&#8217;s asset allocation strategy will change. The &#8220;glide path&#8221; depicted in the chart below shows how the Fund&#8217;s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form. <br /><br /><img alt="chart" src="g624901g582769imgebf92ea11.jpg"></img><br/><br/> <table cellpadding="0" cellspacing="0" style="width: 100%; margin-top: 5pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(64, 64, 64); border-right-width: 0.5pt; border-bottom-width: 0.5pt; border-left-width: 0.5pt; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; border-collapse: collapse; empty-cells: show;"> <tr style="page-break-inside: avoid;"> <td colspan="12" style="padding: 12pt 9pt 3.5pt 3pt; width: 100%; color: rgb(0, 0, 0); line-height: 13pt; font-weight: bold; vertical-align: bottom;">Strategic Target Allocations<sup>1</sup></td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 3.5pt 2pt 2pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Years to Target Date</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">40+</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">35</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">30</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">25</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">20</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">15</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">10</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">5</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0</td> <td style="padding: 3.5pt 2pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">-5</td> <td style="padding: 3.5pt 9pt 2pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">-10</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">Equity</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">86.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">79.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.47pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">72.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">62.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.32pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">52.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">36.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">36.0%</td> <td style="padding: 1.75pt 9pt 1pt 2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">36.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">U.S. Large Cap Equity Funds</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 5.27pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.8%</td> <td style="padding: 1pt 2pt 1pt 3.43pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom;">34.7%</td> <td style="padding: 1pt 2pt 1pt 5.19pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">31.7%</td> <td style="padding: 1pt 2pt 1pt 5.05pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">27.3%</td> <td style="padding: 1pt 2pt 1pt 5.04pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">22.9%</td> <td style="padding: 1pt 2pt 1pt 4.7pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.8%</td> <td style="padding: 1pt 2pt 1pt 4.7pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.8%</td> <td style="padding: 1pt 9pt 1pt 4.7pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.8%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">U.S. Small/Mid Cap Equity Funds</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 8.97pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.7%</td> <td style="padding: 1pt 2pt 1pt 6.93pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom;">8.0%</td> <td style="padding: 1pt 2pt 1pt 9.07pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">7.3%</td> <td style="padding: 1pt 2pt 1pt 7.79pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">6.3%</td> <td style="padding: 1pt 2pt 1pt 8.98pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.3%</td> <td style="padding: 1pt 2pt 1pt 8.71pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> <td style="padding: 1pt 2pt 1pt 8.71pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> <td style="padding: 1pt 9pt 1pt 8.71pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">REIT Funds</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 8.94pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.2%</td> <td style="padding: 1pt 2pt 1pt 6.91pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">4.8%</td> <td style="padding: 1pt 2pt 1pt 7.49pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">4.3%</td> <td style="padding: 1pt 2pt 1pt 8.76pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.7%</td> <td style="padding: 1pt 2pt 1pt 9.77pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.1%</td> <td style="padding: 1pt 2pt 1pt 8.38pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">2.2%</td> <td style="padding: 1pt 2pt 1pt 8.38pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">2.2%</td> <td style="padding: 1pt 9pt 1pt 8.38pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">2.2%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">International Equity Funds</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.43pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom;">25.8%</td> <td style="padding: 1pt 2pt 1pt 4.16pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom;">23.7%</td> <td style="padding: 1pt 2pt 1pt 4.57pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">21.6%</td> <td style="padding: 1pt 2pt 1pt 4.34pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">18.6%</td> <td style="padding: 1pt 2pt 1pt 5.51pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">15.6%</td> <td style="padding: 1pt 2pt 1pt 4.06pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">10.8%</td> <td style="padding: 1pt 2pt 1pt 4.06pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">10.8%</td> <td style="padding: 1pt 9pt 1pt 4.06pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">10.8%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 2pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Emerging Markets Equity Funds</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.18pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">8.6%</td> <td style="padding: 1pt 2pt 2pt 8.91pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">7.9%</td> <td style="padding: 1pt 2pt 2pt 9.24pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">7.2%</td> <td style="padding: 1pt 2pt 2pt 7.96pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">6.2%</td> <td style="padding: 1pt 2pt 2pt 9.15pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">5.2%</td> <td style="padding: 1pt 2pt 2pt 7.92pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.6%</td> <td style="padding: 1pt 2pt 2pt 7.92pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.6%</td> <td style="padding: 1pt 9pt 2pt 7.92pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.6%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">Commodities</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 5.72pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.11pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.24pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.94pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> <td style="padding: 1.75pt 9pt 1pt 6.2pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">0.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 2pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Commodities Funds</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 6.76pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.15pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.28pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.98pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.23pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> <td style="padding: 1pt 2pt 2pt 7.23pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> <td style="padding: 1pt 9pt 2pt 7.23pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">0.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom;">Fixed Income</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 3.25pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">14.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.76pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">21.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">28.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.09pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">38.0%</td> <td style="padding: 1.75pt 2pt 1pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">48.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.62pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">59.0%</td> <td style="padding: 1.75pt 2pt 1pt 2.62pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">59.0%</td> <td style="padding: 1.75pt 9pt 1pt 2.62pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">59.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">U.S. Fixed Income Funds</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 8.83pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">9.5%</td> <td style="padding: 1pt 2pt 1pt 3.55pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">16.0%</td> <td style="padding: 1pt 2pt 1pt 3.86pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">22.4%</td> <td style="padding: 1pt 2pt 1pt 3.2pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">30.4%</td> <td style="padding: 1pt 2pt 1pt 4.29pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">35.0%</td> <td style="padding: 1pt 2pt 1pt 5.02pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.5%</td> <td style="padding: 1pt 2pt 1pt 5.02pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.5%</td> <td style="padding: 1pt 9pt 1pt 5.02pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">37.5%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">Inflation Managed Funds</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 6.76pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.15pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 7.28pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 1pt 8.89pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.5%</td> <td style="padding: 1pt 2pt 1pt 7.83pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.0%</td> <td style="padding: 1pt 2pt 1pt 7.83pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.0%</td> <td style="padding: 1pt 9pt 1pt 7.83pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 1pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">High Yield Funds</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 8.22pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.0%</td> <td style="padding: 1pt 2pt 1pt 7.57pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">3.3%</td> <td style="padding: 1pt 2pt 1pt 7.83pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom;">3.6%</td> <td style="padding: 1pt 2pt 1pt 7.86pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom;">4.9%</td> <td style="padding: 1pt 2pt 1pt 8.36pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom;">6.6%</td> <td style="padding: 1pt 2pt 1pt 9.17pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.1%</td> <td style="padding: 1pt 2pt 1pt 9.17pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.1%</td> <td style="padding: 1pt 9pt 1pt 9.17pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">9.1%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 2pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">Emerging Markets Debt Funds</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 9.57pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.5%</td> <td style="padding: 1pt 2pt 2pt 8.27pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0); white-space: ;">1.8%</td> <td style="padding: 1pt 2pt 2pt 9.11pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">2.1%</td> <td style="padding: 1pt 2pt 2pt 8.07pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">2.8%</td> <td style="padding: 1pt 2pt 2pt 8.43pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.0%</td> <td style="padding: 1pt 2pt 2pt 7.93pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.4%</td> <td style="padding: 1pt 2pt 2pt 7.93pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.4%</td> <td style="padding: 1pt 9pt 2pt 7.93pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);">3.4%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1.75pt 2pt 1pt 3pt; width: 25.55%; line-height: 10pt; font-weight: bold; vertical-align: bottom;">Money Market Funds/Cash and<br /> Cash Equivalents</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.74pt; width: 6.86%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 5.72pt; width: 6.66%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.11pt; width: 6.74%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.24pt; width: 6.77%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 6.94pt; width: 6.9%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1.75pt 2pt 1pt 7pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">5.0%</td> <td style="padding: 1.75pt 2pt 1pt 7pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">5.0%</td> <td style="padding: 1.75pt 9pt 1pt 7pt; width: 6.76%; text-align: center; line-height: 10pt; font-weight: bold; vertical-align: bottom;">5.0%</td> </tr> <tr style="page-break-inside: avoid;"> <td style="padding: 1pt 2pt 3pt 12pt; width: 25.55%; line-height: 10pt; vertical-align: bottom;">Money Market Funds/Cash and<br /> Cash Equivalents</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.77pt; width: 6.86%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 6.76pt; width: 6.66%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.15pt; width: 6.74%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.28pt; width: 6.77%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.98pt; width: 6.9%; text-align: center; line-height: 10pt; vertical-align: bottom; white-space: ;">0.0%</td> <td style="padding: 1pt 2pt 3pt 7.87pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.0%</td> <td style="padding: 1pt 2pt 3pt 7.87pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.0%</td> <td style="padding: 1pt 9pt 3pt 7.87pt; width: 6.76%; text-align: center; line-height: 10pt; vertical-align: bottom;">5.0%</td> </tr> </table> <br/> Note: Above allocations may not sum up to 100% due to rounding. <br/><br/>1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. <br/><br/> The glide path shows the Fund&#8217;s long term strategic target allocations as of November 1, 2018. The Fund&#8217;s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund&#8217;s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&amp;P Target Date 2060+ Index (the Fund&#8217;s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives. <br/><br/>The Adviser will review the Fund&#8217;s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Fund&#8217;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. Consistent with this strategy, the Fund&#8217;s strategic target allocations shown in the glide path and table above may be different from the Fund&#8217;s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. <br/><br/>As a result of the Adviser&#8217;s ability to make these modifications, the Fund&#8217;s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund&#8217;s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund&#8217;s shareholder reports and on the Fund&#8217;s website from time to time. <br/><br/>The Fund is a &#8220;to&#8221; target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund&#8217;s Board of Trustees. <br/><br/>In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds. <br/><br/>The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the Adviser&#8217;s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you. </p></div><br />The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/>Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund&#8217;s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.<br/><br/> Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund&#8217;s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund&#8217;s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund&#8217;s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund&#8217;s investments in an underlying fund may create a conflict of interest. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. <br/><br/>Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund&#8217;s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.<br/><br/> Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund&#8217;s or the underlying fund&#8217;s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund&#8217;s investment decreases in value.<br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.<br/><br/> These risks are magnified in countries in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/>Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund&#8217;s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities. <br/><br/>Certain underlying funds invest in mortgage-related and asset-backed securities including so-called &#8220;sub-prime&#8221; mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for &#8220;sub-prime&#8221; mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities. <br/><br/>Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future. <br/><br/>The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss. <br/><br/>High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.<br/><br/> No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund&#8217;s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access. <br/><br/>Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITs are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.<br/><br/> Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.<br/><br/> Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund&#8217;s or an underlying fund&#8217;s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation. <br/><br/>Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.<br/><br/> Securities and Financial Instruments Risk. The Fund&#8217;s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).<br/><br/> Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund.</p></div> This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) for the past calendar year. The table shows the average annual total returns for the past one year and life of the Fund. It compares that performance to the S&amp;P Target Date 2060+ Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Index, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td valign="top"><b>Best&nbsp;Quarter</b></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">1st quarter, 2017</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>6.15%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr> <td valign="top"><b>Worst&nbsp;Quarter</b></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="3"> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px"> 2nd quarter, 2017 </p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>3.74%</b> </td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> </table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 2.18%. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus the bar chart shows the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) for the past calendar year. The table shows the average annual total returns for the past one year and life of the Fund. It compares that performance to the S&amp;P Target Date 2060+ Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Index, an index based on the total returns of all mutual funds within the Fund&#8217;s designated category as determined by Lipper. Unlike the S&amp;P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganfunds.com 1-800-480-4111 The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#8212; CLASS A SHARES</b> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund&#146;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000303 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000306 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000305 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000304 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000307 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000302 column period compact * ~</div> <b>JPMorgan Access Balanced Fund <br/>Class/Ticker: A/JXBAX; C/JXBCX; I/JXBSX</b> <b>What is the goal of the Fund?</b> The Fund seeks total return. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $100,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in &#8220;Investing with J.P. Morgan Funds &#8212; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION&#8221; on page 46 and in &#8220;Financial Intermediary-Specific Sales Charge Waivers&#8221; in Appendix A of the prospectus and in &#8220;PURCHASES, REDEMPTIONS AND EXCHANGES&#8221; in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> &#8220;Acquired Fund Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund Fees and Expenses is included in the total returns of the Fund. Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#146;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value <br/>of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST <br/>WOULD BE:</b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 26% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The Fund invests in a combination of domestic and international equity, fixed income, and alternative assets, as described below. The Fund invests in mutual funds and exchange-traded funds (ETFs) in the same group of investment companies (i.e., J.P. Morgan Funds). The Fund also invests in open-end and closed-end investment companies (which may or may not be registered under the Investment Company Act of 1940, as amended) and ETFs that are managed by unaffiliated investment advisers (collectively, unaffiliated funds) and directly in individual securities. In addition, to the extent permitted by applicable law or the exemptive relief obtained from the Securities and Exchange Commission (SEC), the Fund invests directly in other financial instruments, including derivatives, such as futures, swaps and structured investments, to gain exposure to, or to overweight or underweight allocations among, various sectors or markets. <br/><br/>The Fund&#8217;s adviser is J.P. Morgan Investment Management Inc. (JPMIM or the Adviser) and it sets the Fund&#8217;s overall investment strategies. The Fund is managed by J.P. Morgan Private Investments Inc. (JPMPI). JPMPI utilizes an allocation process (Strategic Asset Allocations) to invest the Fund&#8217;s assets across the various asset classes and with various sub-advisers. JPMPI and JPMIM use rigorous criteria to select sub-advisers and underlying fund managers to manage certain portions of the Fund&#8217;s assets. In choosing whether to buy or sell an investment and to set their allocations, JPMPI considers the following factors: (1) market trends, (2) JPMPI&#8217;s outlook for a market capitalization or investment style category, and (3) an underlying fund manager&#8217;s performance in various market conditions. JPMPI will also consider the advantages and disadvantages to the Fund of using actively versus passively managed investment vehicles. By combining the strengths of different sub-advisers and underlying fund managers, the Fund seeks to benefit from a variety of investment selection processes and methodologies to achieve its investment objective. <br/><br/>The descriptions below include both the range that the Fund may invest within a particular asset class and the various investments that the Fund may use to gain exposure to such asset class. JPMPI frequently monitors and may make tactical changes to the Strategic Asset Allocations, including shifts among the various asset classes and allocations to the other sub-advisers and underlying fund managers. <br/><br/> U.S. and International Equity: The allocation range will typically be 30%&#8211;75% of the Fund&#8217;s total assets. The Fund&#8217;s equity-related investments consist of J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class are: common stock, preferred stock, structured investments, convertible securities, depositary receipts and warrants to buy common stocks. The Fund invests in foreign and emerging market securities.<br/><br/> U.S. and International Fixed Income: The allocation range will typically be 25%&#8211;60% of the Fund&#8217;s total assets. The Fund&#8217;s fixed income investments include J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class include: U.S. government securities (including agencies and instrumentalities), municipal bonds (including housing authority obligations), domestic and foreign corporate bonds, high yield securities (junk bonds), loan participations and assignments, debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions, mortgage-backed and asset-backed securities, inflation-indexed bonds and Treasury Inflation Protected Securities (TIPS).<br/><br/> Alternative: The allocation range will typically be 0%&#8211;30% of the Fund&#8217;s total assets. The Fund&#8217;s alternative-related investments include J.P. Morgan Funds and unaffiliated funds. Whether investing through a mutual fund or directly in securities, the investments in this asset class give the Fund exposure to: market neutral strategies, absolute return strategies, directional strategies, real estate (including REITs), private equity, mezzanine debt and commodities.<br/><br/> The Fund will gain exposure to commodity markets primarily by investing in the Access Balanced Fund CS Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the Subsidiary). The allocation range will typically be 0%&#8211;10% of the Fund&#8217;s total assets. The Subsidiary is advised by JPMIM and sub-advised by JPMPI. The Subsidiary (unlike the Fund) may invest without limitation in commodity-linked structured notes and other commodity-linked derivative instruments, including derivative instruments linked to the value of a particular commodity or commodity futures contract, or a subset of commodities or commodity futures contracts. However, the Subsidiary is otherwise subject to the same fundamental, non-fundamental and certain other investment restrictions as the Fund. The Subsidiary may use derivatives to obtain long exposure in an attempt to increase the Subsidiary&#8217;s income or gain, to hedge various investments and for risk management. <br/><br/> The Fund and the Subsidiary may invest in ETFs, including both JPMorgan ETFs and unaffiliated funds, in order to gain exposure to particular asset classes. An ETF is a registered investment company, depositary receipt or other pooled investment vehicle that typically seeks to track the performance of a particular market index or security. These indexes include not only broad-based market indexes but more specific indexes as well, including those relating to particular sectors, markets, regions or industries. <br/><br/> Ordinarily, the Fund&#8217;s investment in a single unaffiliated ETF is limited to 5% of its total assets and in all unaffiliated ETFs to 10% of its total assets. The SEC has issued exemptive orders to many ETFs that allow any fund investing in such ETFs to disregard these 5% and 10% limitations. The Fund intends to invest in unaffiliated ETFs that have received such exemptive orders and it may invest any amount of its total assets in a single ETF or in multiple ETFs. <br/><br/> Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund uses structured notes as tools in the management of portfolio assets. In particular, the Fund uses structured notes for risk management and to increase the Fund&#8217;s income or gain. To the extent that the Fund invests in underlying funds, such underlying funds may also use derivatives. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the adviser&#8217;s expectations regarding particular instruments or markets are not met. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%"> An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you. </p></div><br /> The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/>Investments in Mutual Funds and ETFs Risk. The Fund&#8217;s investments are concentrated in J.P. Morgan Funds and unaffiliated funds, so the Fund&#8217;s investment performance is directly related to the performance of the underlying funds. Shareholders will indirectly bear the expenses incurred by the underlying funds. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated funds creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. The price movement of an index-based ETF may not track the underlying index and may result in a loss. ETFs and closed-end investment companies may trade at a price below their net asset value (also known as a discount).<br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund&#8217;s portfolio may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. The Fund and certain of the underlying funds that invest in foreign issuers and foreign securities (including depositary receipts) are subject to additional risks, including political and economic risks, civil conflicts and war, greater volatility, expropriation and nationalization risks, sanctions or other measures by the United States or other governments, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; the Fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. These risks are magnified in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.<br/><br/> Country and Region Risk. Some of the underlying funds concentrate their investments in securities of a single country or region (e.g., China Region or Latin America). Because these underlying funds concentrate their investments in a single country or region, their performance may be more volatile than that of a fund that can invest globally.<br/><br/> Industry and Sector Focus Risk. At times the underlying funds or the Fund may increase the relative emphasis of their investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds or the Fund increase the relative emphasis of their investments in a particular industry or sector, their shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Currency Risk. The Fund and certain of the underlying funds are subject to risks associated with foreign currency. Certain underlying funds are not required to hedge their non-dollar investments back to the U.S. dollar for defensive purposes. As a result, changes in foreign currency exchange rates will affect the value of certain underlying funds&#8217; securities and the price of the underlying funds&#8217; shares. Generally, when the value of the U.S. dollar rises in value relative to a foreign currency, an investment in that country loses value because that currency is worth fewer U.S. dollars. Devaluation of a currency by a country&#8217;s government or banking authority also will have a significant impact on the value of any investments denominated in that currency. Currency markets generally are not as regulated as securities markets, may be riskier than other types of investments and may increase the volatility of the Fund.<br/><br/> Equity Securities Risk. The Fund and certain of the underlying funds invest in equity securities (such as stocks) that are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. When the value of the stocks held by the Fund or an underlying fund goes down, the value of your investment in the Fund decreases in value.<br/><br/> Fixed Income Securities Risk. Some of the underlying funds invest in fixed income securities. These securities will increase or decrease in value based on changes in interest rates and are subject to the risk that an issuer or a counterparty will fail to make payments when due or default. If an issuer&#8217;s or a counterparty&#8217;s financial condition worsens, the credit quality of the issuer or counterparty may deteriorate making it difficult for the underlying fund to sell such investments. If rates increase, the value of these investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. When the value of investments in the Fund or underlying fixed income funds goes down, the value of your investment in the Fund will be affected. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk. <br/><br/>Credit Risk. The Fund&#8217;s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities.<br/><br/> High Yield Securities Risk. Certain of the underlying funds may invest in instruments that are issued by companies which are highly leveraged, less creditworthy or financially distressed. These investments (known as junk bonds) are considered to be speculative and are subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information.<br/><br/> Real Estate Securities Risk. Certain of the underlying funds may invest in real estate securities, including real estate investment trusts (REITs), which are subject to the same risks as direct investments in real estate and mortgages, and their value will depend on the value of the underlying real estate interests. These risks include default, prepayments, changes in value resulting from changes in interest rates and demand for real and rental property, and the management skill and creditworthiness of REIT issuers. The underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which it invests in addition to the expenses of the underlying fund.<br/><br/> Commodity Risk. Certain underlying funds have exposure to commodities. Exposure to commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Derivatives Risk. The Fund and certain of the underlying funds may use derivatives in connection with their investment strategies. Derivatives, including futures, swaps and structured investments, may be riskier than other types of investments because they may be more sensitive to changes in economic or market conditions and could result in losses that significantly exceed the Fund&#8217;s original investment. Many derivatives create leverage thereby causing the Fund to be more volatile than it would have been if it had not used derivatives. Certain derivatives also expose the Fund and the underlying funds to counterparty risk (the risk that the derivative counterparty will not fulfill its contractual obligations), including credit risk of the derivative counterparty. Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or underlying funds do not have a claim on the reference assets and are subject to enhanced counterparty risk. Certain of the Fund&#8217;s transactions in foreign currency derivatives and other derivatives could also affect the amount, timing and character of distributions to shareholders which may result in the Fund realizing more short-term capital gain and ordinary income subject to tax at ordinary income tax rates than it would if it did not engage in such transactions, which may adversely impact the Fund&#8217;s after-tax returns. In addition, the Fund and certain of the underlying funds may use derivatives for non-hedging purposes, which increases the Fund&#8217;s or the underlying funds&#8217; potential for loss.<br/><br/> Structured Note Risk. The Fund, or certain of the underlying funds, invest in commodity, currency, equity and fixed income linked structured notes. Structured notes are typically privately negotiated transactions between two or more parties. The fees associated with a structured note may lead to increased tracking error. The Fund also bears the risk that the issuer of the structured note will default. The Fund bears the risk of loss of its principal investment and periodic payments expected to be received for the duration of its investment. In addition, a liquid market may not exist for the structured notes. The lack of a liquid market may make it difficult to sell the structured notes at an acceptable price or to accurately value them.<br/><br/> Index Investing Risk. Certain of the underlying funds, including ETFs, in which the Fund may invest are index funds. Index funds are not actively managed and are designed to track the performance and holdings of a specified index. Securities may be purchased, held and sold by an index fund at times when an actively managed fund would not do so. There is also the risk that the underlying fund&#8217;s performance may not correlate with the performance of the index.<br/><br/> Preferred Stock Risk. The Fund and certain underlying funds may invest in preferred stock. Preferred stock generally has a preference as to dividends and liquidation over an issuer&#8217;s common stock but ranks junior to debt securities in an issuer&#8217;s capital structure. Unlike interest payments on debt securities, preferred stock dividends are payable only if declared by the issuer&#8217;s board of directors. Preferred stock also may be subject to optional or mandatory redemption provisions. <br/><br/>Government Securities Risk. The Fund and certain of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), or the Federal Home Loan Mortgage Corporation (Freddie Mac)). U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of interest or principal. This would result in losses to the Fund. Securities issued or guaranteed by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government related organizations may not have the funds to meet their payment obligations in the future. U.S. government securities include zero coupon securities, which tend to be subject to greater market risk than interest-paying securities of similar maturities.<br/><br/> High Portfolio Turnover Risk. The Fund may engage in active and frequent trading leading to increased portfolio turnover, higher transaction costs, and the possibility of increased capital gains, including short-term capital gains that will generally be taxable to shareholders as ordinary income.<br/><br/> Subsidiary Risk. By investing in the Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary&#8217;s investments. The derivatives and other investments held by the Subsidiary are generally similar to those that are permitted to be held by the Fund and are subject to the same risks that apply to similar investments if held directly by the Fund. These risks are described elsewhere in this prospectus. There can be no assurance that the investment objective of the Subsidiary will be achieved. The Subsidiary is not registered under the Investment Company Act of 1940 (1940 Act), and, unless otherwise noted in this prospectus, is not subject to all the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands could result in the inability of the Fund and/or the Subsidiary to operate as described in this prospectus and could adversely affect the Fund.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. <br /><br /><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%"> Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance</b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund. The table compares that performance to the Access Balanced Composite Benchmark, a customized benchmark, the Bloomberg Barclays Global Aggregate Index - Hedged USD, a broad-based securities market index, the MSCI World Index (net of foreign withholding taxes), a broad-based securities market index, and the S&amp;P 500 Index, a broad-based securities market index. Since January 1, 2018, the Access Balanced Composite Benchmark is a composite benchmark comprised of unmanaged indexes that corresponds to the Fund&#8217;s model allocation and that consists of the MSCI World Index (net of foreign withholding taxes) (55%), Bloomberg Barclays Global Aggregate Index Hedged (40%), and HFRX Global Hedge Fund Index (5%). From July 1, 2016 until December 31, 2017, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (55%), Bloomberg Barclays Global Aggregate Index (35%), Bloomberg Barclays T-Bill 1-3 Month (5%), and HFRX Global Hedge Fund Index (5%). From April 1, 2013 until June 30, 2016, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (50%), Bloomberg Barclays U.S. Aggregate Index (35%), Citigroup 3-Month Treasury Bill Index (5%), Bloomberg Commodity Index (5%) and HFRX Global Hedge Fund Index (5%). From July 1, 2011 until April 1, 2013, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (50%), Bloomberg Barclays U.S. Aggregate Index (35%) and Citigroup 3-Month Treasury Bill Index (15%). From the inception date of September 30, 2009 to July 1, 2011, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (55%), Bloomberg Barclays Capital U.S. Aggregate Index (35%) and Citigroup 3-Month Treasury Bill Index (10%). The performance of Class C Shares is based on the performance of Class A Shares prior to their inception. The actual return of the Class C Shares would have been lower than shown because the Class C Shares have higher expenses than Class A Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganaccessfunds.com or by calling 1-800-480-4111.<br/><br/>The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#8212; CLASS A SHARES </b> <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">3rd quarter, 2010</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>7.71%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">3rd quarter, 2011</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-11.01%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 2.44%. After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. In some cases, the &#8220;Return After Taxes on Distributions and Sale of Fund Shares&#8221; may exceed the &#8220;Return Before Taxes&#8221; due to an assumed benefit from any losses on a sale of shares at the end of the measurement period. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $100,000 in the J.P. Morgan Funds. Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#146;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganaccessfunds.com 1-800-480-4111 The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. In some cases, the &#8220;Return After Taxes on Distributions and Sale of Fund Shares&#8221; may exceed the &#8220;Return Before Taxes&#8221; due to an assumed benefit from any losses on a sale of shares at the end of the measurement period. 2012-01-31 <b>Best Quarter </b> 2009-06-30 <b>Best Quarter</b> 2013-12-31 <b>Worst Quarter</b> 2015-09-30 2016-08-31 2016-08-31 2016-08-31 <b>Best Quarter</b> 2017-03-31 <b>Worst Quarter</b> 2017-06-30 2009-09-30 2009-09-30 The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000313 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000315 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000314 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000317 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000312 column period compact * ~</div> <b>JPMorgan Access Balanced Fund <br/>Class/Ticker: L/JXBIX</b> <b>What is the goal of the Fund?</b> The Fund seeks total return. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. &#8220;Acquired Fund Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund Fees and Expenses is included in the total returns of the Fund. Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/>of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 26% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The Fund invests in a combination of domestic and international equity, fixed income, and alternative assets, as described below. The Fund invests in mutual funds and exchange-traded funds (ETFs) in the same group of investment companies (i.e., J.P. Morgan Funds). The Fund also invests in open-end and closed-end investment companies (which may or may not be registered under the Investment Company Act of 1940, as amended) and ETFs that are managed by unaffiliated investment advisers (collectively, unaffiliated funds) and directly in individual securities. In addition, to the extent permitted by applicable law or the exemptive relief obtained from the Securities and Exchange Commission (SEC), the Fund invests directly in other financial instruments, including derivatives, such as futures, swaps and structured investments, to gain exposure to, or to overweight or underweight allocations among, various sectors or markets. <br/><br/>The Fund&#8217;s adviser is J.P. Morgan Investment Management Inc. (JPMIM or the Adviser) and it sets the Fund&#8217;s overall investment strategies. The Fund is managed by J.P. Morgan Private Investments Inc. (JPMPI). JPMPI utilizes an allocation process (Strategic Asset Allocations) to invest the Fund&#8217;s assets across the various asset classes and with various sub-advisers. JPMPI and JPMIM use rigorous criteria to select sub-advisers and underlying fund managers to manage certain portions of the Fund&#8217;s assets. In choosing whether to buy or sell an investment and to set their allocations, JPMPI considers the following factors: (1) market trends, (2) JPMPI&#8217;s outlook for a market capitalization or investment style category, and (3) an underlying fund manager&#8217;s performance in various market conditions. JPMPI will also consider the advantages and disadvantages to the Fund of using actively versus passively managed investment vehicles. By combining the strengths of different sub-advisers and underlying fund managers, the Fund seeks to benefit from a variety of investment selection processes and methodologies to achieve its investment objective.<br/><br/> The descriptions below include both the range that the Fund may invest within a particular asset class and the various investments that the Fund may use to gain exposure to such asset class. JPMPI frequently monitors and may make tactical changes to the Strategic Asset Allocations, including shifts among the various asset classes and allocations to the other sub-advisers and underlying fund managers.<br/><br/> U.S. and International Equity: The allocation range will typically be 30%&#8211;75% of the Fund&#8217;s total assets. The Fund&#8217;s equity-related investments consist of J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class are: common stock, preferred stock, structured investments, convertible securities, depositary receipts and warrants to buy common stocks. The Fund invests in foreign and emerging market securities.<br/><br/> U.S. and International Fixed Income: The allocation range will typically be 25%&#8211;60% of the Fund&#8217;s total assets. The Fund&#8217;s fixed income investments include J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class include: U.S. government securities (including agencies and instrumentalities), municipal bonds (including housing authority obligations), domestic and foreign corporate bonds, high yield securities (junk bonds), loan participations and assignments, debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions, mortgage-backed and asset-backed securities, inflation-indexed bonds and Treasury Inflation Protected Securities (TIPS).<br/><br/> Alternative: The allocation range will typically be 0%&#8211;30% of the Fund&#8217;s total assets. The Fund&#8217;s alternative-related investments include J.P. Morgan Funds and unaffiliated funds. Whether investing through a mutual fund or directly in securities, the investments in this asset class give the Fund exposure to: market neutral strategies, absolute return strategies, directional strategies, real estate (including REITs), private equity, mezzanine debt and commodities.<br/><br/> The Fund will gain exposure to commodity markets primarily by investing in the Access Balanced Fund CS Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the Subsidiary). The allocation range will typically be 0%&#8211;10% of the Fund&#8217;s total assets. The Subsidiary is advised by JPMIM and sub-advised by JPMPI. The Subsidiary (unlike the Fund) may invest without limitation in commodity-linked structured notes and other commodity-linked derivative instruments, including derivative instruments linked to the value of a particular commodity or commodity futures contract, or a subset of commodities or commodity futures contracts. However, the Subsidiary is otherwise subject to the same fundamental, non-fundamental and certain other investment restrictions as the Fund. The Subsidiary may use derivatives to obtain long exposure in an attempt to increase the Subsidiary&#8217;s income or gain, to hedge various investments and for risk management.<br/><br/> The Fund and the Subsidiary may invest in ETFs, including both JPMorgan ETFs and unaffiliated funds, in order to gain exposure to particular asset classes. An ETF is a registered investment company, depositary receipt or other pooled investment vehicle that typically seeks to track the performance of a particular market index or security. These indexes include not only broad-based market indexes but more specific indexes as well, including those relating to particular sectors, markets, regions or industries.<br/><br/> Ordinarily, the Fund&#8217;s investment in a single unaffiliated ETF is limited to 5% of its total assets and in all unaffiliated ETFs to 10% of its total assets. The SEC has issued exemptive orders to many ETFs that allow any fund investing in such ETFs to disregard these 5% and 10% limitations. The Fund intends to invest in unaffiliated ETFs that have received such exemptive orders and it may invest any amount of its total assets in a single ETF or in multiple ETFs.<br/><br/> Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund uses structured notes as tools in the management of portfolio assets. In particular, the Fund uses structured notes for risk management and to increase the Fund&#8217;s income or gain. To the extent that the Fund invests in underlying funds, such underlying funds may also use derivatives. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the adviser&#8217;s expectations regarding particular instruments or markets are not met. <br/><br/><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you. </p></div><br/>The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/>Investments in Mutual Funds and ETFs Risk. The Fund&#8217;s investments are concentrated in J.P. Morgan Funds and unaffiliated funds, so the Fund&#8217;s investment performance is directly related to the performance of the underlying funds. Shareholders will indirectly bear the expenses incurred by the underlying funds. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated funds creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. The price movement of an index-based ETF may not track the underlying index and may result in a loss. ETFs and closed-end investment companies may trade at a price below their net asset value (also known as a discount).<br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund&#8217;s portfolio may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. The Fund and certain of the underlying funds that invest in foreign issuers and foreign securities (including depositary receipts) are subject to additional risks, including political and economic risks, civil conflicts and war, greater volatility, expropriation and nationalization risks, sanctions or other measures by the United States or other governments, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; the Fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. These risks are magnified in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.<br/><br/> Country and Region Risk. Some of the underlying funds concentrate their investments in securities of a single country or region (e.g., China Region or Latin America). Because these underlying funds concentrate their investments in a single country or region, their performance may be more volatile than that of a fund that can invest globally.<br/><br/> Industry and Sector Focus Risk. At times the underlying funds or the Fund may increase the relative emphasis of their investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds or the Fund increase the relative emphasis of their investments in a particular industry or sector, their shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Currency Risk. The Fund and certain of the underlying funds are subject to risks associated with foreign currency. Certain underlying funds are not required to hedge their non-dollar investments back to the U.S. dollar for defensive purposes. As a result, changes in foreign currency exchange rates will affect the value of certain underlying funds&#8217; securities and the price of the underlying funds&#8217; shares. Generally, when the value of the U.S. dollar rises in value relative to a foreign currency, an investment in that country loses value because that currency is worth fewer U.S. dollars. Devaluation of a currency by a country&#8217;s government or banking authority also will have a significant impact on the value of any investments denominated in that currency. Currency markets generally are not as regulated as securities markets, may be riskier than other types of investments and may increase the volatility of the Fund.<br/><br/> Equity Securities Risk. The Fund and certain of the underlying funds invest in equity securities (such as stocks) that are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. When the value of the stocks held by the Fund or an underlying fund goes down, the value of your investment in the Fund decreases in value. <br/><br/>Fixed Income Securities Risk. Some of the underlying funds invest in fixed income securities. These securities will increase or decrease in value based on changes in interest rates and are subject to the risk that an issuer or a counterparty will fail to make payments when due or default. If an issuer&#8217;s or a counterparty&#8217;s financial condition worsens, the credit quality of the issuer or counterparty may deteriorate making it difficult for the underlying fund to sell such investments. If rates increase, the value of these investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. When the value of investments in the Fund or underlying fixed income funds goes down, the value of your investment in the Fund will be affected. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Credit Risk. The Fund&#8217;s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities.<br/><br/> High Yield Securities Risk. Certain of the underlying funds may invest in instruments that are issued by companies which are highly leveraged, less creditworthy or financially distressed. These investments (known as junk bonds) are considered to be speculative and are subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information.<br/><br/> Real Estate Securities Risk. Certain of the underlying funds may invest in real estate securities, including real estate investment trusts (REITs), which are subject to the same risks as direct investments in real estate and mortgages, and their value will depend on the value of the underlying real estate interests. These risks include default, prepayments, changes in value resulting from changes in interest rates and demand for real and rental property, and the management skill and creditworthiness of REIT issuers. The underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which it invests in addition to the expenses of the underlying fund.<br/><br/> Commodity Risk. Certain underlying funds have exposure to commodities. Exposure to commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Derivatives Risk. The Fund and certain of the underlying funds may use derivatives in connection with their investment strategies. Derivatives, including futures, swaps and structured investments, may be riskier than other types of investments because they may be more sensitive to changes in economic or market conditions and could result in losses that significantly exceed the Fund&#8217;s original investment. Many derivatives create leverage thereby causing the Fund to be more volatile than it would have been if it had not used derivatives. Certain derivatives also expose the Fund and the underlying funds to counterparty risk (the risk that the derivative counterparty will not fulfill its contractual obligations), including credit risk of the derivative counterparty. Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or underlying funds do not have a claim on the reference assets and are subject to enhanced counterparty risk. Certain of the Fund&#8217;s transactions in foreign currency derivatives and other derivatives could also affect the amount, timing and character of distributions to shareholders which may result in the Fund realizing more short-term capital gain and ordinary income subject to tax at ordinary income tax rates than it would if it did not engage in such transactions, which may adversely impact the Fund&#8217;s after-tax returns. In addition, the Fund and certain of the underlying funds may use derivatives for non-hedging purposes, which increases the Fund&#8217;s or the underlying funds&#8217; potential for loss.<br/><br/> Structured Note Risk. The Fund, or certain of the underlying funds, invest in commodity, currency, equity and fixed income linked structured notes. Structured notes are typically privately negotiated transactions between two or more parties. The fees associated with a structured note may lead to increased tracking error. The Fund also bears the risk that the issuer of the structured note will default. The Fund bears the risk of loss of its principal investment and periodic payments expected to be received for the duration of its investment. In addition, a liquid market may not exist for the structured notes. The lack of a liquid market may make it difficult to sell the structured notes at an acceptable price or to accurately value them.<br/><br/> Index Investing Risk. Certain of the underlying funds, including ETFs, in which the Fund may invest are index funds. Index funds are not actively managed and are designed to track the performance and holdings of a specified index. Securities may be purchased, held and sold by an index fund at times when an actively managed fund would not do so. There is also the risk that the underlying fund&#8217;s performance may not correlate with the performance of the index.<br/><br/> Preferred Stock Risk. The Fund and certain underlying funds may invest in preferred stock. Preferred stock generally has a preference as to dividends and liquidation over an issuer&#8217;s common stock but ranks junior to debt securities in an issuer&#8217;s capital structure. Unlike interest payments on debt securities, preferred stock dividends are payable only if declared by the issuer&#8217;s board of directors. Preferred stock also may be subject to optional or mandatory redemption provisions.<br/><br/> Government Securities Risk. The Fund and certain of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), or the Federal Home Loan Mortgage Corporation (Freddie Mac)). U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of interest or principal. This would result in losses to the Fund. Securities issued or guaranteed by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government related organizations may not have the funds to meet their payment obligations in the future. U.S. government securities include zero coupon securities, which tend to be subject to greater market risk than interest-paying securities of similar maturities.<br/><br/> High Portfolio Turnover Risk. The Fund may engage in active and frequent trading leading to increased portfolio turnover, higher transaction costs, and the possibility of increased capital gains, including short-term capital gains that will generally be taxable to shareholders as ordinary income.<br/><br/> Subsidiary Risk. By investing in the Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary&#8217;s investments. The derivatives and other investments held by the Subsidiary are generally similar to those that are permitted to be held by the Fund and are subject to the same risks that apply to similar investments if held directly by the Fund. These risks are described elsewhere in this prospectus. There can be no assurance that the investment objective of the Subsidiary will be achieved. The Subsidiary is not registered under the Investment Company Act of 1940 (1940 Act), and, unless otherwise noted in this prospectus, is not subject to all the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands could result in the inability of the Fund and/or the Subsidiary to operate as described in this prospectus and could adversely affect the Fund.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br/><br/><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance</b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class L Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund. The table compares that performance to the Access Balanced Composite Benchmark, a customized benchmark, the Bloomberg Barclays Global Aggregate Index - Hedged USD, a broad-based securities market index, the MSCI World Index (net of foreign withholding taxes), a broad-based securities market index, and the S&amp;P 500 Index, a broad-based securities market index. Since January 1, 2018, the Access Balanced Composite Benchmark is a composite benchmark comprised of unmanaged indexes that corresponds to the Fund&#8217;s model allocation and that consists of the MSCI World Index (net of foreign withholding taxes) (55%), Bloomberg Barclays Global Aggregate Index Hedged (40%), and HFRX Global Hedge Fund Index (5%). From July 1, 2016 until December 31, 2017, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (55%), Bloomberg Barclays Global Aggregate Index (35%), Bloomberg Barclays T-Bill 1-3 Month (5%), and HFRX Global Hedge Fund Index (5%). From April 1, 2013 until June 30, 2016, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (50%), Bloomberg Barclays U.S. Aggregate Index (35%), Citigroup 3-Month Treasury Bill Index (5%), Bloomberg Commodity Index (5%) and HFRX Global Hedge Fund Index (5%). From July 1, 2011 until April 1, 2013, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (50%), Bloomberg Barclays U.S. Aggregate Index (35%) and Citigroup 3-Month Treasury Bill Index (15%). From the inception date of September 30, 2009 to July 1, 2011, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (55%), Bloomberg Barclays Capital U.S. Aggregate Index (35%) and Citigroup 3-Month Treasury Bill Index (10%). Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganaccessfunds.com or by calling 1-800-480-4111. <b>YEAR-BY-YEAR RETURNS &#151; CLASS L SHARES</b> <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">3rd quarter, 2010</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>7.80%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">3rd quarter, 2011</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-10.89%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 2.82%. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. In some cases, the &#8220;Return After Taxes on Distributions and Sale of Fund Shares&#8221; may exceed the &#8220;Return Before Taxes&#8221; due to an assumed benefit from any losses on a sale of shares at the end of the measurement period. Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class L Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganaccessfunds.com 1-800-480-4111 After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. In some cases, the &#8220;Return After Taxes on Distributions and Sale of Fund Shares&#8221; may exceed the &#8220;Return Before Taxes&#8221; due to an assumed benefit from any losses on a sale of shares at the end of the measurement period. 2009-09-30 The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000323 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000325 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000324 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000327 column period compact * ~</div> <b>JPMorgan Access Growth Fund <br/>Class/Ticker: A/JXGAX; C/JXGCX; I/JXGSX</b> <b>What is the goal of the Fund?</b> The Fund seeks capital appreciation. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $100,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in &#8220;Investing with J.P. Morgan Funds &#151; SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION&#8221; on page 46 and in &#8220;Financial Intermediary-Specific Sales Charge Waivers&#8221; in Appendix A of the prospectus and in &#8220;PURCHASES, REDEMPTIONS AND EXCHANGES&#8221; in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below. <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b> &#8220;Acquired Fund Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund Fees and Expenses is included in the total returns of the Fund. Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/>of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/>WOULD BE:</b> <b>Portfolio Turnover </b> <b>What are the Fund&#8217;s main investment strategies? </b> The Fund invests in a combination of domestic and international equity, fixed income, and alternative assets, as described below. The Fund invests in mutual funds and exchange-traded funds (ETFs) in the same group of investment companies (i.e., J.P. Morgan Funds). The Fund also invests in open-end and closed-end investment companies (which may or may not be registered under the Investment Company Act of 1940, as amended) and ETFs that are managed by unaffiliated investment advisers (collectively, unaffiliated funds) and directly in individual securities. In addition, to the extent permitted by applicable law or the exemptive relief obtained from the Securities and Exchange Commission (SEC), the Fund invests directly in other financial instruments, including derivatives, such as futures, swaps and structured investments, to gain exposure to, or to overweight or underweight allocations among, various sectors or markets.<br/><br/> The Fund&#8217;s adviser is J.P. Morgan Investment Management Inc. (JPMIM or the Adviser) and it sets the Fund&#8217;s overall investment strategies. The Fund is managed by J.P. Morgan Private Investments Inc. (JPMPI). JPMPI utilizes an allocation process (Strategic Asset Allocations) to invest the Fund&#8217;s assets across the various asset classes and with various sub-advisers. JPMPI and JPMIM use rigorous criteria to select sub-advisers and underlying fund managers to manage certain portions of the Fund&#8217;s assets. In choosing whether to buy or sell an investment and to set their allocations, JPMPI considers the following factors: (1) market trends, (2) JPMPI&#8217;s outlook for a market capitalization or investment style category, and (3) an underlying fund manager&#8217;s performance in various market conditions. JPMPI will also consider the advantages and disadvantages to the Fund of using actively versus passively managed investment vehicles. By combining the strengths of different sub-advisers and underlying fund managers, the Fund seeks to benefit from a variety of investment selection processes and methodologies to achieve its investment objective.<br/><br/> The descriptions below include both the range that the Fund may invest within a particular asset class and the various investments that the Fund may use to gain exposure to such asset class. JPMPI frequently monitors and may make tactical changes to the Strategic Asset Allocations, including shifts among the various asset classes and allocations to the other sub-advisers and underlying fund managers.<br/><br/> U.S. and International Equity: The allocation range will typically be 40%&#8211;90% of the Fund&#8217;s total assets. The Fund&#8217;s equity-related investments consist of J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class are: common stock, preferred stock, structured investments, convertible securities, depositary receipts and warrants to buy common stocks. The Fund invests in foreign and emerging market securities.<br/><br/> U.S. and International Fixed Income: The allocation range will typically be 5%&#8211;45% of the Fund&#8217;s total assets. The Fund&#8217;s fixed income investments include J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class include: U.S. government securities (including agencies and instrumentalities), municipal bonds (including housing authority obligations), domestic and foreign corporate bonds, high yield securities (junk bonds), loan participations and assignments, debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions, mortgage-backed and asset-backed securities, inflation-indexed bonds and Treasury Inflation Protected Securities (TIPS).<br/><br/> Alternative: The allocation range will typically be 0%&#8211;35% of the Fund&#8217;s total assets. The Fund&#8217;s alternative-related investments include J.P. Morgan Funds and unaffiliated funds. Whether investing through a mutual fund or directly in securities, the investments in this asset class give the Fund exposure to: market neutral strategies, absolute return strategies, directional strategies, real estate (including REITs), private equity, mezzanine debt and commodities.<br/><br/> The Fund will gain exposure to commodity markets primarily by investing in the Access Growth Fund CS Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the Subsidiary). The allocation range will typically be 0%&#8211;10% of the Fund&#8217;s total assets. The Subsidiary is advised by JPMIM and sub-advised by JPMPI. The Subsidiary (unlike the Fund) may invest without limitation in commodity-linked structured notes and other commodity-linked derivative instruments, including derivative instruments linked to the value of a particular commodity or commodity futures contract, or a subset of commodities or commodity futures contracts. However, the Subsidiary is otherwise subject to the same fundamental, non-fundamental and certain other investment restrictions as the Fund. The Subsidiary may use derivatives to obtain long exposure in an attempt to increase the Subsidiary&#8217;s income or gain, to hedge various investments and for risk management. <br/><br/> The Fund and the Subsidiary may invest in ETFs, including both JPMorgan ETFs and unaffiliated funds, in order to gain exposure to particular asset classes. An ETF is a registered investment company, depositary receipt or other pooled investment vehicle that typically seeks to track the performance of a particular market index or security. These indexes include not only broad-based market indexes but more specific indexes as well, including those relating to particular sectors, markets, regions or industries.<br/><br/> Ordinarily, the Fund&#8217;s investment in a single unaffiliated ETF is limited to 5% of its total assets and in all unaffiliated ETFs to 10% of its total assets. The SEC has issued exemptive orders to many ETFs that allow any fund investing in such ETFs to disregard these 5% and 10% limitations. The Fund intends to invest in unaffiliated ETFs that have received such exemptive orders and it may invest any amount of its total assets in a single ETF or in multiple ETFs.<br/><br/> Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund uses structured notes as tools in the management of portfolio assets. In particular, the Fund uses structured notes for risk management and to increase the Fund&#8217;s income or gain. To the extent that the Fund invests in underlying funds, such underlying funds may also use derivatives. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the adviser&#8217;s expectations regarding particular instruments or markets are not met. <br/><br/><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.</p></div><br/>The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/>Investments in Mutual Funds and ETFs Risk. The Fund&#8217;s investments are concentrated in J.P. Morgan Funds and unaffiliated funds, so the Fund&#8217;s investment performance is directly related to the performance of the underlying funds. Shareholders will indirectly bear the expenses incurred by the underlying funds. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated funds creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. The price movement of an index-based ETF may not track the underlying index and may result in a loss. ETFs and closed-end investment companies may trade at a price below their net asset value (also known as a discount).<br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund&#8217;s portfolio may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. The Fund and certain of the underlying funds that invest in foreign issuers and foreign securities (including depositary receipts) are subject to additional risks, including political and economic risks, civil conflicts and war, greater volatility, expropriation and nationalization risks, sanctions or other measures by the United States or other governments, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; the Fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. These risks are magnified in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.<br/><br/> Country and Region Risk. Some of the underlying funds concentrate their investments in securities of a single country or region (e.g., China Region or Latin America). Because these underlying funds concentrate their investments in a single country or region, their performance may be more volatile than that of a fund that can invest globally.<br/><br/> Industry and Sector Focus Risk. At times the underlying funds or the Fund may increase the relative emphasis of their investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds or the Fund increase the relative emphasis of their investments in a particular industry or sector, their shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Currency Risk. The Fund and certain of the underlying funds are subject to risks associated with foreign currency. Certain underlying funds are not required to hedge their non-dollar investments back to the U.S. dollar for defensive purposes. As a result, changes in foreign currency exchange rates will affect the value of certain underlying funds&#8217; securities and the price of the underlying funds&#8217; shares. Generally, when the value of the U.S. dollar rises in value relative to a foreign currency, an investment in that country loses value because that currency is worth fewer U.S. dollars. Devaluation of a currency by a country&#8217;s government or banking authority also will have a significant impact on the value of any investments denominated in that currency. Currency markets generally are not as regulated as securities markets, may be riskier than other types of investments and may increase the volatility of the Fund.<br/><br/> Equity Securities Risk. The Fund and certain of the underlying funds invest in equity securities (such as stocks) that are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. When the value of the stocks held by the Fund or an underlying fund goes down, the value of your investment in the Fund decreases in value.<br/><br/> Fixed Income Securities Risk. Some of the underlying funds invest in fixed income securities. These securities will increase or decrease in value based on changes in interest rates and are subject to the risk that an issuer or a counterparty will fail to make payments when due or default. If an issuer&#8217;s or a counterparty&#8217;s financial condition worsens, the credit quality of the issuer or counterparty may deteriorate making it difficult for the underlying fund to sell such investments. If rates increase, the value of these investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. When the value of investments in the Fund or underlying fixed income funds goes down, the value of your investment in the Fund will be affected. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk. <br/><br/>Credit Risk. The Fund&#8217;s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities.<br/><br/> High Yield Securities Risk. Certain of the underlying funds may invest in instruments that are issued by companies which are highly leveraged, less creditworthy or financially distressed. These investments (known as junk bonds) are considered to be speculative and are subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information.<br/><br/> Real Estate Securities Risk. Certain of the underlying funds may invest in real estate securities, including real estate investment trusts (REITs), which are subject to the same risks as direct investments in real estate and mortgages, and their value will depend on the value of the underlying real estate interests. These risks include default, prepayments, changes in value resulting from changes in interest rates and demand for real and rental property, and the management skill and creditworthiness of REIT issuers. The underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which it invests in addition to the expenses of the underlying fund.<br/><br/> Commodity Risk. Certain underlying funds have exposure to commodities. Exposure to commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Derivatives Risk. The Fund and certain of the underlying funds may use derivatives in connection with their investment strategies. Derivatives, including futures, swaps and structured investments, may be riskier than other types of investments because they may be more sensitive to changes in economic or market conditions and could result in losses that significantly exceed the Fund&#8217;s original investment. Many derivatives create leverage thereby causing the Fund to be more volatile than it would have been if it had not used derivatives. Certain derivatives also expose the Fund and the underlying funds to counterparty risk (the risk that the derivative counterparty will not fulfill its contractual obligations), including credit risk of the derivative counterparty. Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or underlying funds do not have a claim on the reference assets and are subject to enhanced counterparty risk. Certain of the Fund&#8217;s transactions in foreign currency derivatives and other derivatives could also affect the amount, timing and character of distributions to shareholders which may result in the Fund realizing more short-term capital gain and ordinary income subject to tax at ordinary income tax rates than it would if it did not engage in such transactions, which may adversely impact the Fund&#8217;s after-tax returns. In addition, the Fund and certain of the underlying funds may use derivatives for non-hedging purposes, which increases the Fund&#8217;s or the underlying funds&#8217; potential for loss.<br/><br/> Structured Note Risk. The Fund, or certain of the underlying funds, invest in commodity, currency, equity and fixed income linked structured notes. Structured notes are typically privately negotiated transactions between two or more parties. The fees associated with a structured note may lead to increased tracking error. The Fund also bears the risk that the issuer of the structured note will default. The Fund bears the risk of loss of its principal investment and periodic payments expected to be received for the duration of its investment. In addition, a liquid market may not exist for the structured notes. The lack of a liquid market may make it difficult to sell the structured notes at an acceptable price or to accurately value them.<br/><br/> Index Investing Risk. Certain of the underlying funds, including ETFs, in which the Fund may invest are index funds. Index funds are not actively managed and are designed to track the performance and holdings of a specified index. Securities may be purchased, held and sold by an index fund at times when an actively managed fund would not do so. There is also the risk that the underlying fund&#8217;s performance may not correlate with the performance of the index.<br/><br/> Preferred Stock Risk. The Fund and certain underlying funds may invest in preferred stock. Preferred stock generally has a preference as to dividends and liquidation over an issuer&#8217;s common stock but ranks junior to debt securities in an issuer&#8217;s capital structure. Unlike interest payments on debt securities, preferred stock dividends are payable only if declared by the issuer&#8217;s board of directors. Preferred stock also may be subject to optional or mandatory redemption provisions.<br/><br/> Government Securities Risk. The Fund and certain of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), or the Federal Home Loan Mortgage Corporation (Freddie Mac)). U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of interest or principal. This would result in losses to the Fund. Securities issued or guaranteed by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government related organizations may not have the funds to meet their payment obligations in the future. U.S. government securities include zero coupon securities, which tend to be subject to greater market risk than interest-paying securities of similar maturities.<br/><br/> High Portfolio Turnover Risk. The Fund may engage in active and frequent trading leading to increased portfolio turnover, higher transaction costs, and the possibility of increased capital gains, including short-term capital gains that will generally be taxable to shareholders as ordinary income.<br/><br/> Subsidiary Risk. By investing in the Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary&#8217;s investments. The derivatives and other investments held by the Subsidiary are generally similar to those that are permitted to be held by the Fund and are subject to the same risks that apply to similar investments if held directly by the Fund. These risks are described elsewhere in this prospectus. There can be no assurance that the investment objective of the Subsidiary will be achieved. The Subsidiary is not registered under the Investment Company Act of 1940 (1940 Act), and, unless otherwise noted in this prospectus, is not subject to all the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands could result in the inability of the Fund and/or the Subsidiary to operate as described in this prospectus and could adversely affect the Fund.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. <br/><br/><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund.</p></div> <b>The Fund&#8217;s Past Performance</b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund. The table compares that performance to the Access Growth Composite Benchmark, a customized benchmark, the MSCI World Index (net of foreign withholding taxes) a broad-based securities market index, the Bloomberg Barclays Global Aggregate Index &#8211; Hedged USD, a broad-based securities market index, and the S&amp;P 500 Index, a broad-based securities market index. Since January 1, 2018, the Access Growth Composite Benchmark is a composite benchmark comprised of unmanaged indexes that corresponds to the Fund&#8217;s model allocation and that consists of the MSCI World Index (net of foreign withholding taxes) (75%), Bloomberg Barclays Global Aggregate Index Hedged (20%), and HFRX Global Hedge Fund Index (5%). From July 1, 2016 until December 31, 2017, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (75%), Bloomberg Barclays Global Aggregate Index (15%), Bloomberg Barclays T-Bill 1-3 Month (5%), and HFRX Global Hedge Fund Index (5%). From April 1, 2013 until June 30, 2016, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (70%), Bloomberg Barclays U.S. Aggregate Index (15%), Citigroup 3-Month Treasury Bill Index (5%), Bloomberg Commodity Index (5%) and HFRX Global Hedge Fund Index (5%). From July 1, 2011 until April 1, 2013, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (70%), Bloomberg Barclays U.S. Aggregate Index (20%) and Citigroup 3-Month Treasury Bill Index (10%). From the inception date of September 30, 2009 to July 1, 2011, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (75%), Bloomberg Barclays Capital U.S. Aggregate Index (15%) and Citigroup 3-Month Treasury Bill Index (10%). The performance of Class C Shares is based on the performance of Class A Shares prior to their inception. The actual return of the Class C Shares would have been lower than shown because the Class C Shares have higher expenses than Class A Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganaccessfunds.com or by calling 1-800-480-4111.<br/><br/>The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. <b>YEAR-BY-YEAR RETURNS &#151; CLASS A SHARES</b> <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">1st quarter, 2012</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>9.49%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">3rd quarter, 2011</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-15.45%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 3.48%. After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. In some cases, the &#8220;Return After Taxes on Distributions and Sale of Fund Shares&#8221; may exceed the &#8220;Return Before Taxes&#8221; due to an assumed benefit from any losses on a sale of shares at the end of the measurement period. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $100,000 in the J.P. Morgan Funds. Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 27% of the average value of its portfolio. Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class A Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganaccessfunds.com 1-800-480-4111 The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower. After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. In some cases, the &#8220;Return After Taxes on Distributions and Sale of Fund Shares&#8221; may exceed the &#8220;Return Before Taxes&#8221; due to an assumed benefit from any losses on a sale of shares at the end of the measurement period. The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000333 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000335 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000334 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000337 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleShareholderFees000332 column period compact * ~</div> <b>JPMorgan Access Growth Fund <br/>Class/Ticker: L/JXGIX</b> <b>What is the goal of the Fund?</b> The Fund seeks capital appreciation. <b>Fees and Expenses of the Fund </b> The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. &#8220;Acquired Fund Fees and Expenses&#8221; are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund Fees and Expenses is included in the total returns of the Fund. Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. <b>ANNUAL FUND OPERATING EXPENSES</b><br/><b>(Expenses that you pay each year as a percentage of the value<br/>of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b> <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the Fund&#8217;s most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 27% of the average value of its portfolio. <b>What are the Fund&#8217;s main investment strategies? </b> The Fund invests in a combination of domestic and international equity, fixed income, and alternative assets, as described below. The Fund invests in mutual funds and exchange-traded funds (ETFs) in the same group of investment companies (i.e., J.P. Morgan Funds). The Fund also invests in open-end and closed-end investment companies (which may or may not be registered under the Investment Company Act of 1940, as amended) and ETFs that are managed by unaffiliated investment advisers (collectively, unaffiliated funds) and directly in individual securities. In addition, to the extent permitted by applicable law or the exemptive relief obtained from the Securities and Exchange Commission (SEC), the Fund invests directly in other financial instruments, including derivatives, such as futures, swaps and structured investments, to gain exposure to, or to overweight or underweight allocations among, various sectors or markets.<br/><br/>The Fund&#8217;s adviser is J.P. Morgan Investment Management Inc. (JPMIM or the Adviser) and it sets the Fund&#8217;s overall investment strategies. The Fund is managed by J.P. Morgan Private Investments Inc. (JPMPI). JPMPI utilizes an allocation process (Strategic Asset Allocations) to invest the Fund&#8217;s assets across the various asset classes and with various sub-advisers. JPMPI and JPMIM use rigorous criteria to select sub-advisers and underlying fund managers to manage certain portions of the Fund&#8217;s assets. In choosing whether to buy or sell an investment and to set their allocations, JPMPI considers the following factors: (1) market trends, (2) JPMPI&#8217;s outlook for a market capitalization or investment style category, and (3) an underlying fund manager&#8217;s performance in various market conditions. JPMPI will also consider the advantages and disadvantages to the Fund of using actively versus passively managed investment vehicles. By combining the strengths of different sub-advisers and underlying fund managers, the Fund seeks to benefit from a variety of investment selection processes and methodologies to achieve its investment objective.<br/><br/> The descriptions below include both the range that the Fund may invest within a particular asset class and the various investments that the Fund may use to gain exposure to such asset class. JPMPI frequently monitors and may make tactical changes to the Strategic Asset Allocations, including shifts among the various asset classes and allocations to the other sub-advisers and underlying fund managers. <br/><br/>U.S. and International Equity: The allocation range will typically be 40%&#8211;90% of the Fund&#8217;s total assets. The Fund&#8217;s equity-related investments consist of J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class are: common stock, preferred stock, structured investments, convertible securities, depositary receipts and warrants to buy common stocks. The Fund invests in foreign and emerging market securities.<br/><br/> U.S. and International Fixed Income: The allocation range will typically be 5%&#8211;45% of the Fund&#8217;s total assets. The Fund&#8217;s fixed income investments include J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class include: U.S. government securities (including agencies and instrumentalities), municipal bonds (including housing authority obligations), domestic and foreign corporate bonds, high yield securities (junk bonds), loan participations and assignments, debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions, mortgage-backed and asset-backed securities, inflation-indexed bonds and Treasury Inflation Protected Securities (TIPS).<br/><br/> Alternative: The allocation range will typically be 0%&#8211;35% of the Fund&#8217;s total assets. The Fund&#8217;s alternative-related investments include J.P. Morgan Funds and unaffiliated funds. Whether investing through a mutual fund or directly in securities, the investments in this asset class give the Fund exposure to: market neutral strategies, absolute return strategies, directional strategies, real estate (including REITs), private equity, mezzanine debt and commodities.<br/><br/> The Fund will gain exposure to commodity markets primarily by investing in the Access Growth Fund CS Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the Subsidiary). The allocation range will typically be 0%&#8211;10% of the Fund&#8217;s total assets. The Subsidiary is advised by JPMIM and sub-advised by JPMPI. The Subsidiary (unlike the Fund) may invest without limitation in commodity-linked structured notes and other commodity-linked derivative instruments, including derivative instruments linked to the value of a particular commodity or commodity futures contract, or a subset of commodities or commodity futures contracts. However, the Subsidiary is otherwise subject to the same fundamental, non-fundamental and certain other investment restrictions as the Fund. The Subsidiary may use derivatives to obtain long exposure in an attempt to increase the Subsidiary&#8217;s income or gain, to hedge various investments and for risk management.<br/><br/> The Fund and the Subsidiary may invest in ETFs, including both JPMorgan ETFs and unaffiliated funds, in order to gain exposure to particular asset classes. An ETF is a registered investment company, depositary receipt or other pooled investment vehicle that typically seeks to track the performance of a particular market index or security. These indexes include not only broad-based market indexes but more specific indexes as well, including those relating to particular sectors, markets, regions or industries.<br/><br/> Ordinarily, the Fund&#8217;s investment in a single unaffiliated ETF is limited to 5% of its total assets and in all unaffiliated ETFs to 10% of its total assets. The SEC has issued exemptive orders to many ETFs that allow any fund investing in such ETFs to disregard these 5% and 10% limitations. The Fund intends to invest in unaffiliated ETFs that have received such exemptive orders and it may invest any amount of its total assets in a single ETF or in multiple ETFs.<br/><br/> Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund uses structured notes as tools in the management of portfolio assets. In particular, the Fund uses structured notes for risk management and to increase the Fund&#8217;s income or gain. To the extent that the Fund invests in underlying funds, such underlying funds may also use derivatives. <b>The Fund&#8217;s Main Investment Risks </b> The Fund is subject to management risk and may not achieve its objective if the adviser&#8217;s expectations regarding particular instruments or markets are not met. <br/><br/><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you. </p></div><br/>The Fund is subject to the main risks noted below, any of which may adversely affect the Fund&#8217;s performance and ability to meet its investment objective. <br/><br/>Investments in Mutual Funds and ETFs Risk. The Fund&#8217;s investments are concentrated in J.P. Morgan Funds and unaffiliated funds, so the Fund&#8217;s investment performance is directly related to the performance of the underlying funds. Shareholders will indirectly bear the expenses incurred by the underlying funds. In addition, the Adviser&#8217;s authority to allocate investments among J.P. Morgan Funds and unaffiliated funds creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. The price movement of an index-based ETF may not track the underlying index and may result in a loss. ETFs and closed-end investment companies may trade at a price below their net asset value (also known as a discount).<br/><br/> General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund&#8217;s portfolio may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.<br/><br/> Foreign Securities and Emerging Markets Risk. The Fund and certain of the underlying funds that invest in foreign issuers and foreign securities (including depositary receipts) are subject to additional risks, including political and economic risks, civil conflicts and war, greater volatility, expropriation and nationalization risks, sanctions or other measures by the United States or other governments, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded &#8220;delivery versus payment,&#8221; the Fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. These risks are magnified in &#8220;emerging markets.&#8221; Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. <br/><br/>Country and Region Risk. Some of the underlying funds concentrate their investments in securities of a single country or region (e.g., China Region or Latin America). Because these underlying funds concentrate their investments in a single country or region, their performance may be more volatile than that of a fund that can invest globally.<br/><br/> Industry and Sector Focus Risk. At times the underlying funds or the Fund may increase the relative emphasis of their investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds or the Fund increase the relative emphasis of their investments in a particular industry or sector, their shares&#8217; values may fluctuate in response to events affecting that industry or sector.<br/><br/> Currency Risk. The Fund and certain of the underlying funds are subject to risks associated with foreign currency. Certain underlying funds are not required to hedge their non-dollar investments back to the U.S. dollar for defensive purposes. As a result, changes in foreign currency exchange rates will affect the value of certain underlying funds&#8217; securities and the price of the underlying funds&#8217; shares. Generally, when the value of the U.S. dollar rises in value relative to a foreign currency, an investment in that country loses value because that currency is worth fewer U.S. dollars. Devaluation of a currency by a country&#8217;s government or banking authority also will have a significant impact on the value of any investments denominated in that currency. Currency markets generally are not as regulated as securities markets, may be riskier than other types of investments and may increase the volatility of the Fund.<br/><br/> Equity Securities Risk. The Fund and certain of the underlying funds invest in equity securities (such as stocks) that are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company&#8217;s financial condition, sometimes rapidly or unpredictably. When the value of the stocks held by the Fund or an underlying fund goes down, the value of your investment in the Fund decreases in value. <br/><br/>Fixed Income Securities Risk. Some of the underlying funds invest in fixed income securities. These securities will increase or decrease in value based on changes in interest rates and are subject to the risk that an issuer or a counterparty will fail to make payments when due or default. If an issuer&#8217;s or a counterparty&#8217;s financial condition worsens, the credit quality of the issuer or counterparty may deteriorate making it difficult for the underlying fund to sell such investments. If rates increase, the value of these investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. When the value of investments in the Fund or underlying fixed income funds goes down, the value of your investment in the Fund will be affected. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.<br/><br/> Credit Risk. The Fund&#8217;s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund&#8217;s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund&#8217;s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer&#8217;s securities.<br/><br/> High Yield Securities Risk. Certain of the underlying funds may invest in instruments that are issued by companies which are highly leveraged, less creditworthy or financially distressed. These investments (known as junk bonds) are considered to be speculative and are subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information.<br/><br/> Real Estate Securities Risk. Certain of the underlying funds may invest in real estate securities, including real estate investment trusts (REITs), which are subject to the same risks as direct investments in real estate and mortgages, and their value will depend on the value of the underlying real estate interests. These risks include default, prepayments, changes in value resulting from changes in interest rates and demand for real and rental property, and the management skill and creditworthiness of REIT issuers. The underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which it invests in addition to the expenses of the underlying fund.<br/><br/> Commodity Risk. Certain underlying funds have exposure to commodities. Exposure to commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.<br/><br/> Derivatives Risk. The Fund and certain of the underlying funds may use derivatives in connection with their investment strategies. Derivatives, including futures, swaps and structured investments, may be riskier than other types of investments because they may be more sensitive to changes in economic or market conditions and could result in losses that significantly exceed the Fund&#8217;s original investment. Many derivatives create leverage thereby causing the Fund to be more volatile than it would have been if it had not used derivatives. Certain derivatives also expose the Fund and the underlying funds to counterparty risk (the risk that the derivative counterparty will not fulfill its contractual obligations), including credit risk of the derivative counterparty. Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or underlying funds do not have a claim on the reference assets and are subject to enhanced counterparty risk. Certain of the Fund&#8217;s transactions in foreign currency derivatives and other derivatives could also affect the amount, timing and character of distributions to shareholders which may result in the Fund realizing more short-term capital gain and ordinary income subject to tax at ordinary income tax rates than it would if it did not engage in such transactions, which may adversely impact the Fund&#8217;s after-tax returns. In addition, the Fund and certain of the underlying funds may use derivatives for non-hedging purposes, which increases the Fund&#8217;s or the underlying funds&#8217; potential for loss.<br/><br/> Structured Note Risk. The Fund, or certain of the underlying funds, invest in commodity, currency, equity and fixed income linked structured notes. Structured notes are typically privately negotiated transactions between two or more parties. The fees associated with a structured note may lead to increased tracking error. The Fund also bears the risk that the issuer of the structured note will default. The Fund bears the risk of loss of its principal investment and periodic payments expected to be received for the duration of its investment. In addition, a liquid market may not exist for the structured notes. The lack of a liquid market may make it difficult to sell the structured notes at an acceptable price or to accurately value them.<br/><br/> Index Investing Risk. Certain of the underlying funds, including ETFs, in which the Fund may invest are index funds. Index funds are not actively managed and are designed to track the performance and holdings of a specified index. Securities may be purchased, held and sold by an index fund at times when an actively managed fund would not do so. There is also the risk that the underlying fund&#8217;s performance may not correlate with the performance of the index.<br/><br/> Preferred Stock Risk. The Fund and certain underlying funds may invest in preferred stock. Preferred stock generally has a preference as to dividends and liquidation over an issuer&#8217;s common stock but ranks junior to debt securities in an issuer&#8217;s capital structure. Unlike interest payments on debt securities, preferred stock dividends are payable only if declared by the issuer&#8217;s board of directors. Preferred stock also may be subject to optional or mandatory redemption provisions.<br/><br/> Government Securities Risk. The Fund and certain of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), or the Federal Home Loan Mortgage Corporation (Freddie Mac)). U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of interest or principal. This would result in losses to the Fund. Securities issued or guaranteed by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government related organizations may not have the funds to meet their payment obligations in the future. U.S. government securities include zero coupon securities, which tend to be subject to greater market risk than interest-paying securities of similar maturities.<br/><br/> High Portfolio Turnover Risk. The Fund may engage in active and frequent trading leading to increased portfolio turnover, higher transaction costs, and the possibility of increased capital gains, including short-term capital gains that will generally be taxable to shareholders as ordinary income.<br/><br/> Subsidiary Risk. By investing in the Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary&#8217;s investments. The derivatives and other investments held by the Subsidiary are generally similar to those that are permitted to be held by the Fund and are subject to the same risks that apply to similar investments if held directly by the Fund. These risks are described elsewhere in this prospectus. There can be no assurance that the investment objective of the Subsidiary will be achieved. The Subsidiary is not registered under the Investment Company Act of 1940 (1940 Act), and, unless otherwise noted in this prospectus, is not subject to all the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands could result in the inability of the Fund and/or the Subsidiary to operate as described in this prospectus and could adversely affect the Fund.<br/><br/> Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund&#8217;s shares may adversely affect the fund&#8217;s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.<br/><br/><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1pt #3f3f3f;padding-top:2px;padding-bottom:3px"><p style="margin-top:0px;margin-bottom:0px;padding-top:0px; margin-left:1%;margin-right:1%">Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. <br/><br/>You could lose money investing in the Fund. </p></div> <b>The Fund&#8217;s Past Performance</b> This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class L Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund. The table compares that performance to the Access Growth Composite Benchmark, a customized benchmark, the MSCI World Index (net of foreign withholding taxes), a broad-based securities market index, the Bloomberg Barclays Global Aggregate Index &#150; Hedged USD, a broad-based securities market index, and the S&amp;P 500 Index, a broad-based securities market index. Since January 1, 2018, the Access Growth Composite Benchmark is a composite benchmark comprised of unmanaged indexes that corresponds to the Fund&#8217;s model allocation and that consists of the MSCI World Index (net of foreign withholding taxes) (75%), Bloomberg Barclays Global Aggregate Index Hedged (20%), and HFRX Global Hedge Fund Index (5%). From July 1, 2016 until December 31, 2017, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (75%), Bloomberg Barclays Global Aggregate Index (15%), Bloomberg Barclays T-Bill 1-3 Month (5%), and HFRX Global Hedge Fund Index (5%). From April 1, 2013 until June 30, 2016, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (70%), Bloomberg Barclays U.S. Aggregate Index (15%), Citigroup 3-Month Treasury Bill Index (5%), Bloomberg Commodity Index (5%) and HFRX Global Hedge Fund Index (5%). From July 1, 2011 until April 1, 2013, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (70%), Bloomberg Barclays U.S. Aggregate Index (20%) and Citigroup 3-Month Treasury Bill Index (10%). From the inception date of September 30, 2009 to July 1, 2011, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (75%), Bloomberg Barclays Capital U.S. Aggregate Index (15%) and Citigroup 3-Month Treasury Bill Index (10%). Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganaccessfunds.com or by calling 1-800-480-4111. <b>YEAR-BY-YEAR RETURNS &#151; CLASS L SHARES</b> <b>AVERAGE ANNUAL TOTAL RETURNS</b><br/><b>(For periods ended December 31, 2017)</b> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td valign="top"><b>Best Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">1st quarter, 2012</td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>9.69%</b></td> <td valign="bottom" nowrap="nowrap"><b>&nbsp;&nbsp;</b></td></tr> <tr><td valign="top"><b>Worst Quarter</b></td> <td valign="bottom"></td> <td valign="bottom">3rd quarter, 2011</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><b>&nbsp;</b></td> <td valign="bottom" align="right"><b>-15.33%</b></td></tr></table><br/>The Fund&#8217;s year-to-date total return through 9/30/18 was 3.78%. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. In some cases, the &#8220;Return After Taxes on Distributions and Sale of Fund Shares&#8221; may exceed the &#8220;Return Before Taxes&#8221; due to an assumed benefit from any losses on a sale of shares at the end of the measurement period. Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund&#8217;s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund&#8217;s prospectus. 10/31/19 Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money investing in the Fund. The bar chart shows how the performance of the Fund&#8217;s Class L Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. www.jpmorganaccessfunds.com 1-800-480-4111 After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. In some cases, the &#8220;Return After Taxes on Distributions and Sale of Fund Shares&#8221; may exceed the &#8220;Return Before Taxes&#8221; due to an assumed benefit from any losses on a sale of shares at the end of the measurement period. 2009-09-30 2009-09-30 <b>Worst Quarter</b> 2011-09-30 <b>Best Quarter</b> 2010-09-30 <b>Best Quarter</b> 2010-09-30 <b>Worst Quarter</b> 2011-09-30 <b>Best Quarter</b> 2012-03-31 <b>Worst Quarter</b> 2011-09-30 <b>Worst Quarter</b> 2011-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000134 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000276 column period compact * ~</div> 2016-08-31 2016-08-31 2016-08-31 2016-08-31 2016-08-31 2016-08-31 2016-08-31 2012-01-31 2012-01-31 2012-01-31 2012-01-31 2012-01-31 2012-01-31 2012-01-31 the bar chart shows the performance of the Fund&#146;s Class A Shares (which are not offered in this prospectus) for the past calendar year.<br/><br/>The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses. <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000216 column period compact * ~</div> The Fund&#8217;s year-to-date total return 2018-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualFundOperatingExpenses000343 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000345 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000344 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000347 column period compact * ~</div> <b>Best Quarter</b> 2012-03-31 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000135 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000286 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000205 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000206 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000196 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000197 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000144 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000236 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000195 column period compact * ~</div> <b>The Fund&#146;s Past Performance</b> <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b> "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000246 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000145 column period compact * ~</div> 2009-09-30 2009-09-30 2009-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000326 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000154 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000155 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000226 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000146 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000256 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000156 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000165 column period compact * ~</div> 2009-09-30 2009-09-30 2009-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000336 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000266 column period compact * ~</div> Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. 2009-09-30 2009-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000346 column period compact * ~</div> 2009-09-30 2009-09-30 2009-09-30 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000016 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000174 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000175 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000056 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000184 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000185 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000066 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000186 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000176 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000096 column period compact * ~</div> 2012-01-31 2012-01-31 2012-01-31 2012-01-31 2012-01-31 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000026 column period compact * ~</div> 2016-08-31 2016-08-31 2016-08-31 2016-08-31 2016-08-31 <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000076 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000036 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000116 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000046 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000316 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000126 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000125 column period compact * ~</div> <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleExpenseExampleTransposed000124 column period compact * ~</div> The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R3 Shares. The actual returns of Class R3 Shares would have been different than those shown because Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. Returns for Class R3 Shares prior to their inception date are based on the performance of Class A Shares (which are not offered in this prospectus). The actual returns for Class R3 Shares would have been different than those shown because Class R3 Shares have different expenses than Class A Shares. Returns for Class R4 Shares prior to their inception date are based on the performance of Class I Shares (which are not offered in this prospectus). The actual return for Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. <br/><br/>The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses. the bar chart shows how the performance of the Fund&#8217;s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. <br/><br/>The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses. <div style="display:none">~ http://www.jpmorganfunds.com/role/ScheduleAnnualTotalReturnsBarChart000086 column period compact * ~</div> 126 552 1003 2256 101 506 938 2138 76 429 807 1868 60 338 636 1485 50 302 574 1349 1017 126 1298 1552 672 703 404 783 452 50 582 60 76 101 198 256 297 332 347 168 127 401 695 1532 102 325 566 1257 77 250 439 985 61 194 339 761 51 165 289 651 126 400 694 1531 101 322 560 1245 76 245 429 962 60 196 343 771 50 164 288 650 125 395 684 1510 100 319 555 1234 75 244 428 961 59 190 333 748 49 158 278 626 126 400 694 1531 101 322 560 1245 76 245 429 962 60 193 338 760 50 162 283 639 50000 50000 125 392 680 1499 100 316 551 1223 75 242 424 950 59 188 328 737 49 156 273 615 122 385 668 1476 97 309 539 1199 72 235 412 926 56 181 316 712 46 149 261 590 124 389 675 1488 99 313 545 1211 74 235 410 917 58 185 323 725 48 153 268 603 119 380 661 1462 94 304 531 1185 68 245 436 989 53 173 304 686 43 141 249 564 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0.0541 0.113 0.0554 0.0495 0.1732 0.0843 0.0774 0.224 0.1164 0.1007 0.0304 0.0306 0.0379 0.2183 0.1579 0.1428 0.27 0.078 0.0771 -0.1101 0.0244 0.1179 0.0498 0.0452 0.057 0.0316 0.0319 0.27 0.0949 -0.1089 0.0282 -0.1533 0.0378 -0.1545 0.0348 -0.3378 0.3342 0.1673 -0.0502 0.18 0.2276 0.0755 -0.0179 0.0647 0.218 -0.3149 0.3059 0.1515 -0.0286 0.1548 0.1655 0.0688 -0.0136 0.0559 0.1555 0.2122 0.0969 0.39 -0.3476 0.3363 0.1642 -0.0489 0.1788 0.2186 0.0757 -0.0173 0.0615 0.2015 -0.3392 0.3245 0.1625 -0.042 0.1688 0.1968 0.0743 -0.0154 0.0588 0.1866 -0.1723 0.2108 0.1114 0.009 0.0999 0.0762 0.0494 -0.0124 0.0497 0.1088 -0.3392 0.3214 0.1597 -0.0452 0.1668 0.1933 0.0716 -0.0178 0.0564 0.1817 0.1712 0.2246 0.0736 -0.0205 0.0625 0.2129 -0.291 0.2895 0.1473 -0.01 0.1428 0.1343 0.0669 -0.0098 0.0558 0.1373 0.1918 -0.1951 -0.3482 0.3333 0.1658 -0.0504 0.1794 -0.3476 0.2277 0.3333 0.1614 0.0763 -0.0522 -0.0189 0.176 0.0653 0.2164 0.2156 0.0724 -0.0197 0.0592 0.1971 -0.3482 0.3311 0.163 -0.0532 0.1768 0.2244 0.0737 -0.0213 0.0625 0.2112 0.0752 -0.0468 0.1025 0.1159 0.018 -0.0188 0.0519 0.138 0.0896 -0.081 0.1214 0.1612 0.0075 -0.0212 0.0485 0.1708 -0.1723 0.2108 0.1114 0.009 0.0999 0.0762 0.0494 -0.0124 0.0497 0.1088 -0.338 0.3346 0.1602 0.0947 -0.0783 0.1267 0.1657 0.0117 -0.0173 0.0532 0.1762 -0.0525 0.1784 0.2237 0.0729 -0.0205 0.0626 0.2134 0.0705 -0.0502 0.0975 0.111 0.0147 -0.0235 0.0475 0.1335 -0.3482 0.3333 0.1658 -0.0504 0.1794 0.2277 0.0763 -0.0189 0.0653 0.2156 -0.291 0.2895 0.1473 -0.01 0.1428 0.1343 0.0669 -0.0098 0.0558 0.1373 -0.3476 0.3363 0.1642 -0.0489 0.1788 0.2186 0.0757 -0.0173 0.0615 0.2015 -0.1723 0.2077 0.1083 0.0068 0.0974 0.0737 0.0461 -0.0149 0.0472 0.1045 -0.3378 0.3342 0.1673 -0.0502 0.18 0.2276 0.0755 -0.0179 0.0647 0.218 -0.3149 0.3103 0.1543 -0.0265 0.1583 0.1684 0.0715 -0.0118 0.0588 0.1599 -0.338 0.3388 0.1626 -0.0503 0.1813 0.2275 0.0755 -0.0179 0.0654 0.2175 -0.3378 0.3307 0.165 -0.053 0.178 0.2238 0.0728 -0.0205 0.0625 0.2127 0.2275 0.0763 -0.0178 0.0654 0.2169 -0.291 0.2866 0.1444 -0.0127 0.14 0.1319 0.0635 -0.0122 0.0534 0.1327 -0.3392 0.3245 0.1625 -0.042 0.1688 0.1968 0.0743 -0.0154 0.0588 0.1866 (under $1 million) The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.31%, 0.94% and 0.19% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date Retirement Income Index was changed. Prior to 6/1/17, the S&P Target Date Retirement Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date Retirement Index is comprised of underlying indices of securities. On 6/1/17, the methodology used to calculate the S&P Target Date 2050 Index was changed. Prior to 6/1/17, the S&P Target Date 2050 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2050 Index is comprised of underlying indices of securities. The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date 2030 Index was changed. Prior to 6/1/17, the S&P Target Date 2030 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2030 Index is comprised of underlying indices of securities. The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses. J.P. Morgan Investment Management Inc. and J.P. Morgan Private Investments, Inc. have contractually agreed to waive the investment advisory fee for the Fund by 0.30%. This contract is in effect through 10/31/19. The shares of the affiliated underlying funds in which the Fund invests a portion of its assets impose a separate investment advisory fee and a service fee. To avoid charging an investment advisory fee and a service fee at an effective rate above 0.45% for investment advisory services and 0.25% for Class A, Class C and Class I Shares for shareholder servicing on affiliated investments, the investment adviser and shareholder servicing agent have contractually agreed to waive a portion of the investment advisory and service fees charged by the underlying funds. This contract is in effect through 10/31/19. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. The Fund’s adviser has contractually agreed to waive the advisory fee that it receives from the Fund in an amount equal to the advisory fee paid by Access Balanced Fund CS Ltd., the Fund’s wholly-owned subsidiary, to its adviser. This waiver will continue in effect so long as the Fund invests in the subsidiary and may not be terminated without approval by the Fund’s Board of Trustees. (under $1 million) The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.38%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. (under $1 million) The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.36%, 0.96% and 0.21% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date 2020 Index was changed. Prior to 6/1/17, the S&P Target Date 2020 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2020 Index is comprised of underlying indices of securities. (under $1 million) The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.38%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date 2040 Index was changed. Prior to 6/1/17, the S&P Target Date 2040 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2040 Index is comprised of underlying indices of securities. (under $1 million) The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date 2035 Index was changed. Prior to 6/1/17, the S&P Target Date 2035 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2035 Index is comprised of underlying indices of securities. (under $1 million) The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. (under $1 million) The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. (under $1 million) On 6/1/17, the methodology used to calculate the S&P Target Date 2050 Index was changed. Prior to 6/1/17, the S&P Target Date 2050 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2050 Index is comprised of underlying indices of securities. The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date 2045 Index was changed. Prior to 6/1/17, the S&P Target Date 2045 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2045 Index is comprised of underlying indices of securities. (under $1 million) The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date 2055 Index was changed. Prior to 6/1/17, the S&P Target Date 2055 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2055 Index is comprised of underlying indices of securities. (under $1 million) The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date 2060+ Index was changed. Prior to 6/1/17, the S&P Target Date 2060+ Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2060+ Index is comprised of underlying indices of securities. The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date 2020 Index was changed. Prior to 6/1/17, the S&P Target Date 2020 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2020 Index is comprised of underlying indices of securities. The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date Retirement Income Index was changed. Prior to 6/1/17, the S&P Target Date Retirement Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date Retirement Index is comprised of underlying indices of securities. On 6/1/17, the methodology used to calculate the S&P Target Date 2025 Index was changed. Prior to 6/1/17, the S&P Target Date 2025 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2025 Index is comprised of underlying indices of securities. On 6/1/17, the methodology used to calculate the S&P Target Date 2030 Index was changed. Prior to 6/1/17, the S&P Target Date 2030 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2030 Index is comprised of underlying indices of securities. The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date 2040 Index was changed. Prior to 6/1/17, the S&P Target Date 2040 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2040 Index is comprised of underlying indices of securities. On 6/1/17, the methodology used to calculate the S&P Target Date 2035 Index was changed. Prior to 6/1/17, the S&P Target Date 2035 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2035 Index is comprised of underlying indices of securities. On 6/1/17, the methodology used to calculate the S&P Target Date 2045 Index was changed. Prior to 6/1/17, the S&P Target Date 2045 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2045 Index is comprised of underlying indices of securities. The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date 2055 Index was changed. Prior to 6/1/17, the S&P Target Date 2055 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2055 Index is comprised of underlying indices of securities. The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date 2060+ Index was changed. Prior to 6/1/17, the S&P Target Date 2060+ Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2060+ Index is comprised of underlying indices of securities. "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.31% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date Retirement Income Index was changed. Prior to 6/1/17, the S&P Target Date Retirement Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date Retirement Index is comprised of underlying indices of securities. "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.36% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date 2020 Index was changed. Prior to 6/1/17, the S&P Target Date 2020 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2020 Index is comprised of underlying indices of securities. "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.38% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date 2025 Index was changed. Prior to 6/1/17, the S&P Target Date 2025 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2025 Index is comprised of underlying indices of securities. "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.38% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date 2030 Index was changed. Prior to 6/1/17, the S&P Target Date 2030 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2030 Index is comprised of underlying indices of securities. "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date 2035 Index was changed. Prior to 6/1/17, the S&P Target Date 2035 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2035 Index is comprised of underlying indices of securities. "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date 2040 Index was changed. Prior to 6/1/17, the S&P Target Date 2040 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2040 Index is comprised of underlying indices of securities. "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date 2045 Index was changed. Prior to 6/1/17, the S&P Target Date 2045 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2045 Index is comprised of underlying indices of securities. "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. On 6/1/17, the methodology used to calculate the S&P Target Date 2050 Index was changed. Prior to 6/1/17, the S&P Target Date 2050 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2050 Index is comprised of underlying indices of securities. "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses. "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year. On 6/1/17, the methodology used to calculate the S&P Target Date 2060+ Index was changed. Prior to 6/1/17, the S&P Target Date 2060+ Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2060+ Index is comprised of underlying indices of securities. The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses. On 6/1/17, the methodology used to calculate the S&P Target Date 2055 Index was changed. Prior to 6/1/17, the S&P Target Date 2055 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2055 Index is comprised of underlying indices of securities. (under $1 million) J.P. Morgan Investment Management Inc. and J.P. Morgan Private Investments, Inc. have contractually agreed to waive the investment advisory fee for the Fund by 0.30%. This contract is in effect through 10/31/19. The shares of the affiliated underlying funds in which the Fund invests a portion of its assets impose a separate investment advisory fee and a service fee. To avoid charging an investment advisory fee and a service fee at an effective rate above 0.45% for investment advisory services and 0.10% for Class L Shares for shareholder servicing on affiliated investments, the investment adviser and shareholder servicing agent have contractually agreed to waive a portion of the investment advisory and service fees charged by the underlying funds. This contract is in effect through 10/31/19. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. The Fund’s adviser has contractually agreed to waive the advisory fee that it receives from the Fund in an amount equal to the advisory fee paid by Access Balanced Fund CS Ltd., the Fund’s wholly-owned subsidiary, to its adviser. This waiver will continue in effect so long as the Fund invests in the subsidiary and may not be terminated without approval by the Fund’s Board of Trustees. On 6/1/17, the methodology used to calculate the S&P Target Date 2025 Index was changed. Prior to 6/1/17, the S&P Target Date 2025 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2025 Index is comprised of underlying indices of securities. J.P. Morgan Investment Management Inc. and J.P. Morgan Private Investments, Inc. have contractually agreed to waive the investment advisory fee for the Fund by 0.30%. This contract is in effect through 10/31/19. The shares of the affiliated underlying funds in which the Fund invests a portion of its assets impose a separate investment advisory fee and a service fee. To avoid charging an investment advisory fee and a service fee at an effective rate above 0.45% for investment advisory services and 0.10% for Class L Shares for shareholder servicing on affiliated investments, the investment adviser and shareholder servicing agent have contractually agreed to waive a portion of the investment advisory and service fees charged by the underlying funds. This contract is in effect through 10/31/19. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. The Fund’s adviser has contractually agreed to waive the advisory fee that it receives from the Fund in an amount equal to the advisory fee paid by Access Growth Fund CS Ltd., the Fund’s wholly-owned subsidiary, to its adviser. This waiver will continue in effect so long as the Fund invests in the subsidiary and may not be terminated without approval by the Fund’s Board of Trustees. (under $1 million) J.P. Morgan Investment Management Inc. and J.P. Morgan Private Investments, Inc. have contractually agreed to waive the investment advisory fee for the Fund by 0.30%. This contract is in effect through 10/31/19. The shares of the affiliated underlying funds in which the Fund invests a portion of its assets impose a separate investment advisory fee and a service fee. To avoid charging an investment advisory fee and a service fee at an effective rate above 0.45% for investment advisory services and 0.25% for Class A, Class C and Class I Shares for shareholder servicing on affiliated investments, the investment adviser and shareholder servicing agent have contractually agreed to waive a portion of the investment advisory and service fees charged by the underlying funds. This contract is in effect through 10/31/19. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. The Fund’s adviser has contractually agreed to waive the advisory fee that it receives from the Fund in an amount equal to the advisory fee paid by Access Growth Fund CS Ltd., the Fund’s wholly-owned subsidiary, to its adviser. This waiver will continue in effect so long as the Fund invests in the subsidiary and may not be terminated without approval by the Fund’s Board of Trustees. The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses. The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses. 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JPMorgan SmartRetirement 2040 Fund (Class C, Class I and Class A) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000067 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000068 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2040 Fund (Class C, Class I and Class A) link:presentationLink link:calculationLink link:definitionLink 000069 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2040 Fund - A, C, I Shares link:presentationLink link:calculationLink link:definitionLink 000071 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2045 Fund - A, C, I Shares link:presentationLink link:calculationLink link:definitionLink 000072 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000073 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000074 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000075 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000076 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2045 Fund (Class C, Class I and Class A) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000077 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000078 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2045 Fund (Class C, Class I and Class A) link:presentationLink link:calculationLink link:definitionLink 000079 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2045 Fund - A, C, I Shares link:presentationLink link:calculationLink link:definitionLink 000081 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2050 Fund - A, C, I Shares link:presentationLink link:calculationLink link:definitionLink 000082 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000083 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000084 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000085 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000086 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2050 Fund (Class C, Class I and Class A) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000087 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000088 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2050 Fund (Class C, Class I and Class A) link:presentationLink link:calculationLink link:definitionLink 000089 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2050 Fund - A, C, I Shares link:presentationLink link:calculationLink link:definitionLink 000091 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2055 Fund - A, C, I Shares link:presentationLink link:calculationLink link:definitionLink 000092 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000093 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000094 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000095 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000096 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2055 Fund (Class C, Class I and Class A) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000097 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000098 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2055 Fund (Class C, Class I and Class A) link:presentationLink link:calculationLink link:definitionLink 000099 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2055 Fund - A, C, I Shares link:presentationLink link:calculationLink link:definitionLink 000101 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2060 Fund - A, C, I Shares link:presentationLink link:calculationLink link:definitionLink 000102 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000103 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000104 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000105 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000106 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2060 Fund (Class C, Class I and Class A) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000107 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000108 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2060 Fund (Class C, Class I and Class A) link:presentationLink link:calculationLink link:definitionLink 000109 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2060 Fund - A, C, I Shares link:presentationLink link:calculationLink link:definitionLink 000111 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement Income Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000112 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000113 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000114 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000115 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000116 - Schedule - Annual Total Returns - JPMorgan SmartRetirement Income Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000117 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000118 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement Income Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) link:presentationLink link:calculationLink link:definitionLink 000119 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement Income Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000121 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2020 Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000122 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000123 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000124 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000125 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000126 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2020 Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000127 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000128 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2020 Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) link:presentationLink link:calculationLink link:definitionLink 000129 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2020 Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000131 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2025 Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000132 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000133 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000134 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000135 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000136 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2025 Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000137 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000138 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2025 Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) link:presentationLink link:calculationLink link:definitionLink 000139 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2025 Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000141 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2030 Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000142 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000143 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000144 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000145 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000146 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2030 Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000147 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000148 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2030 Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) link:presentationLink link:calculationLink link:definitionLink 000149 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2030 Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000151 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2035 Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000152 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000153 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000154 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000155 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000156 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2035 Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000157 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000158 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2035 Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) link:presentationLink link:calculationLink link:definitionLink 000159 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2035 Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000161 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2040 Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000162 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000163 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000164 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000165 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000166 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2040 Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000167 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000168 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2040 Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) link:presentationLink link:calculationLink link:definitionLink 000169 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2040 Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000171 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2045 Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000172 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000173 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000174 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000175 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000176 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2045 Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000177 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000178 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2045 Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) link:presentationLink link:calculationLink link:definitionLink 000179 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2045 Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000181 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2050 Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000182 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000183 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000184 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000185 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000186 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2050 Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000187 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000188 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2050 Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) link:presentationLink link:calculationLink link:definitionLink 000189 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2050 Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000191 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2055 Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000192 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000193 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000194 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000195 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000196 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2055 Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000197 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000198 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2055 Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) link:presentationLink link:calculationLink link:definitionLink 000199 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2055 Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000201 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2060 Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000202 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000203 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000204 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000205 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000206 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2060 Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000207 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000208 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2060 Fund (Class R6, Class R4, Class R5, Class R2 and Class R3) link:presentationLink link:calculationLink link:definitionLink 000209 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2060 Fund - R2, R3, R4, R5, R6 Shares link:presentationLink link:calculationLink link:definitionLink 000211 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement Income Fund - T Shares link:presentationLink link:calculationLink link:definitionLink 000212 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000213 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000214 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000215 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000216 - Schedule - Annual Total Returns - JPMorgan SmartRetirement Income Fund (T Shares) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000217 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000218 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement Income Fund (T Shares) link:presentationLink link:calculationLink link:definitionLink 000219 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement Income Fund - T Shares link:presentationLink link:calculationLink link:definitionLink 000221 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2020 Fund - T Shares link:presentationLink link:calculationLink link:definitionLink 000222 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000223 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000224 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000225 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000226 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2020 Fund (T Shares) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000227 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000228 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2020 Fund (T Shares) link:presentationLink link:calculationLink link:definitionLink 000229 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2020 Fund - T Shares link:presentationLink link:calculationLink link:definitionLink 000231 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2025 Fund - T Shares link:presentationLink link:calculationLink link:definitionLink 000232 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000233 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000234 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000235 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000236 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2025 Fund (T Shares) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000237 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000238 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2025 Fund (T Shares) link:presentationLink link:calculationLink link:definitionLink 000239 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2025 Fund - T Shares link:presentationLink link:calculationLink link:definitionLink 000241 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2030 Fund - T Shares link:presentationLink link:calculationLink link:definitionLink 000242 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000243 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000244 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000245 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000246 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2030 Fund (T Shares) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000247 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000248 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2030 Fund (T Shares) link:presentationLink link:calculationLink link:definitionLink 000249 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2030 Fund - T Shares link:presentationLink link:calculationLink link:definitionLink 000251 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2035 Fund - T Shares link:presentationLink link:calculationLink link:definitionLink 000252 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000253 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000254 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000255 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000256 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2035 Fund (T Shares) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000257 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000258 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2035 Fund (T Shares) link:presentationLink link:calculationLink link:definitionLink 000259 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2035 Fund - T Shares link:presentationLink link:calculationLink link:definitionLink 000261 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2040 Fund - T Shares link:presentationLink link:calculationLink link:definitionLink 000262 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000263 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000264 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000265 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000266 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2040 Fund (T Shares) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000267 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000268 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2040 Fund (T Shares) link:presentationLink link:calculationLink link:definitionLink 000269 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2040 Fund - T Shares link:presentationLink link:calculationLink link:definitionLink 000271 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2045 Fund - T Shares link:presentationLink link:calculationLink link:definitionLink 000272 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000273 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000274 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000275 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000276 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2045 Fund (T Shares) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000277 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000278 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2045 Fund (T Shares) link:presentationLink link:calculationLink link:definitionLink 000279 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2045 Fund - T Shares link:presentationLink link:calculationLink link:definitionLink 000281 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2050 Fund - T Shares link:presentationLink link:calculationLink link:definitionLink 000282 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000283 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000284 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000285 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000286 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2050 Fund (T Shares) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000287 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000288 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2050 Fund (T Shares) link:presentationLink link:calculationLink link:definitionLink 000289 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2050 Fund - T Shares link:presentationLink link:calculationLink link:definitionLink 000291 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2055 Fund - T Shares link:presentationLink link:calculationLink link:definitionLink 000292 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000293 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000294 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000295 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000296 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2055 Fund (T Shares) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000297 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000298 - Document - Risk/Return Detail {Unlabeled} - JPMorgan SmartRetirement 2055 Fund (T Shares) link:presentationLink link:calculationLink link:definitionLink 000299 - Disclosure - Risk/Return Detail Data {Elements} - JPMorgan SmartRetirement 2055 Fund - T Shares link:presentationLink link:calculationLink link:definitionLink 000301 - Document - Risk/Return Summary {Unlabeled} - JPMorgan SmartRetirement 2060 Fund - T Shares link:presentationLink link:calculationLink link:definitionLink 000302 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000303 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000304 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000305 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 000306 - Schedule - Annual Total Returns - JPMorgan SmartRetirement 2060 Fund (T Shares) [BarChart] link:presentationLink link:calculationLink link:definitionLink 000307 - 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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Jun. 30, 2018
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Central Index Key dei_EntityCentralIndexKey 0001217286
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Oct. 25, 2018
Document Effective Date dei_DocumentEffectiveDate Nov. 01, 2018
Prospectus Date rr_ProspectusDate Nov. 01, 2018

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A, C, I Shares | JPMorgan SmartRetirement Income Fund
<b>JPMorgan SmartRetirement<sup>®</sup> Income Fund<br/>Class/Ticker: A/JSRAX; C/JSRCX; I/JSRSX</b>
<b>What is the goal of the Fund? </b>
The Fund seeks current income and some capital appreciation.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 96 and in “Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees - A, C, I Shares - JPMorgan SmartRetirement Income Fund
Class A
Class C
Class I
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 4.50% none none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none [1] 1.00% none
[1] (under $1 million)
“Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES<br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Annual Fund Operating Expenses - A, C, I Shares - JPMorgan SmartRetirement Income Fund
Class A
Class C
Class I
Management Fees none none none
Distribution (Rule 12b-1) Fees 0.25% 0.75% none
Other Expenses 0.28% 0.27% 0.26%
Service Fees 0.25% 0.25% 0.25%
Remainder of Other Expenses 0.03% 0.02% 0.01%
Acquired Fund (Underlying Fund) Fees and Expenses 0.44% 0.44% 0.44%
Total Annual Fund Operating Expenses 0.97% 1.46% 0.70%
Fee Waivers and/or Expense Reimbursements [1] (0.24%) (0.10%) (0.09%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 0.73% 1.36% 0.61%
[1] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.31%, 0.94% and 0.19% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example - A, C, I Shares - JPMorgan SmartRetirement Income Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 521 722 940 1,565
CLASS C SHARES 238 452 788 1,738
CLASS I SHARES 62 215 381 862
<b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE: </b>
Expense Example, No Redemption - A, C, I Shares - JPMorgan SmartRetirement Income Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 521 722 940 1,565
CLASS C SHARES 138 452 788 1,738
CLASS I SHARES 62 215 381 862
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 23% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® Income Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors who are retired or about to retire soon. The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, with an emphasis on fixed income funds over equity funds and other funds. The Fund’s strategic target allocations among various asset and sub-asset classes as of November 1, 2018 are set forth below:
Strategic Target Allocations1
Fixed Income 59.0%
U.S. Fixed Income Funds 37.5%
Inflation Managed Funds 9.0%
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 0.0%
Commodities Funds 0.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The table above shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date Retirement Income Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for fixed income, +/- 10% for equity, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments listed above. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed above from time to time.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date Retirement Income Index, a broad-based securities market index, and the Lipper Mixed-Asset Target Today Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart
Best Quarter 2nd quarter, 2009     9.99%   
Worst Quarter 4th quarter, 2008   -7.94%

The Fund’s year-to-date total return through 9/30/18 was 0.35%.
<b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - A, C, I Shares - JPMorgan SmartRetirement Income Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS A SHARES 5.88% 4.39% 4.36%
CLASS A SHARES | Return After Taxes on Distributions 4.67% 3.37% 3.31%
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 3.71% 2.99% 3.00%
CLASS C SHARES 9.17% 4.67% 4.19%
CLASS I SHARES 11.03% 5.47% 4.98%
S&P TARGET DATE RETIREMENT INCOME INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 8.54% 4.86% 4.12%
LIPPER MIXED-ASSET TARGET TODAY FUNDS AVERAGE (Reflects No Deduction for Taxes) 9.13% 4.34% 4.12%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date Retirement Income Index was changed. Prior to 6/1/17, the S&P Target Date Retirement Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date Retirement Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 15 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
A, C, I Shares | JPMorgan SmartRetirement Income Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> Income Fund<br/>Class/Ticker: A/JSRAX; C/JSRCX; I/JSRSX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Fund seeks current income and some capital appreciation.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 96 and in “Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES<br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 23% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 23.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE: </b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® Income Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors who are retired or about to retire soon. The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, with an emphasis on fixed income funds over equity funds and other funds. The Fund’s strategic target allocations among various asset and sub-asset classes as of November 1, 2018 are set forth below:
Strategic Target Allocations1
Fixed Income 59.0%
U.S. Fixed Income Funds 37.5%
Inflation Managed Funds 9.0%
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 0.0%
Commodities Funds 0.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The table above shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date Retirement Income Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for fixed income, +/- 10% for equity, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments listed above. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed above from time to time.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date Retirement Income Index, a broad-based securities market index, and the Lipper Mixed-Asset Target Today Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date Retirement Income Index, a broad-based securities market index, and the Lipper Mixed-Asset Target Today Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     9.99%   
Worst Quarter 4th quarter, 2008   -7.94%

The Fund’s year-to-date total return through 9/30/18 was 0.35%.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
A, C, I Shares | JPMorgan SmartRetirement Income Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.03%
Other Expenses rr_OtherExpensesOverAssets 0.28%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.44%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.97%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.24%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.73% [2]
1 Year rr_ExpenseExampleYear01 $ 521
3 Years rr_ExpenseExampleYear03 722
5 Years rr_ExpenseExampleYear05 940
10 Years rr_ExpenseExampleYear10 1,565
1 Year rr_ExpenseExampleNoRedemptionYear01 521
3 Years rr_ExpenseExampleNoRedemptionYear03 722
5 Years rr_ExpenseExampleNoRedemptionYear05 940
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,565
2008 rr_AnnualReturn2008 (17.23%)
2009 rr_AnnualReturn2009 21.08%
2010 rr_AnnualReturn2010 11.14%
2011 rr_AnnualReturn2011 0.90%
2012 rr_AnnualReturn2012 9.99%
2013 rr_AnnualReturn2013 7.62%
2014 rr_AnnualReturn2014 4.94%
2015 rr_AnnualReturn2015 (1.24%)
2016 rr_AnnualReturn2016 4.97%
2017 rr_AnnualReturn2017 10.88%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund's year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 0.35%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter </b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 9.99%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter </b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (7.94%)
Past 1 Year rr_AverageAnnualReturnYear01 5.88%
Past 5 Years rr_AverageAnnualReturnYear05 4.39%
Past 10 Years rr_AverageAnnualReturnYear10 4.36%
A, C, I Shares | JPMorgan SmartRetirement Income Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther 1.00%
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.44%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.46%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.10%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.36% [2]
1 Year rr_ExpenseExampleYear01 $ 238
3 Years rr_ExpenseExampleYear03 452
5 Years rr_ExpenseExampleYear05 788
10 Years rr_ExpenseExampleYear10 1,738
1 Year rr_ExpenseExampleNoRedemptionYear01 138
3 Years rr_ExpenseExampleNoRedemptionYear03 452
5 Years rr_ExpenseExampleNoRedemptionYear05 788
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,738
Past 1 Year rr_AverageAnnualReturnYear01 9.17%
Past 5 Years rr_AverageAnnualReturnYear05 4.67%
Past 10 Years rr_AverageAnnualReturnYear10 4.19%
A, C, I Shares | JPMorgan SmartRetirement Income Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.26%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.44%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.70%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.09%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.61% [2]
1 Year rr_ExpenseExampleYear01 $ 62
3 Years rr_ExpenseExampleYear03 215
5 Years rr_ExpenseExampleYear05 381
10 Years rr_ExpenseExampleYear10 862
1 Year rr_ExpenseExampleNoRedemptionYear01 62
3 Years rr_ExpenseExampleNoRedemptionYear03 215
5 Years rr_ExpenseExampleNoRedemptionYear05 381
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 862
Past 1 Year rr_AverageAnnualReturnYear01 11.03%
Past 5 Years rr_AverageAnnualReturnYear05 5.47%
Past 10 Years rr_AverageAnnualReturnYear10 4.98%
A, C, I Shares | JPMorgan SmartRetirement Income Fund | Return After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 4.67%
Past 5 Years rr_AverageAnnualReturnYear05 3.37%
Past 10 Years rr_AverageAnnualReturnYear10 3.31%
A, C, I Shares | JPMorgan SmartRetirement Income Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 3.71%
Past 5 Years rr_AverageAnnualReturnYear05 2.99%
Past 10 Years rr_AverageAnnualReturnYear10 3.00%
A, C, I Shares | JPMorgan SmartRetirement Income Fund | S&P TARGET DATE RETIREMENT INCOME INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 8.54% [3]
Past 5 Years rr_AverageAnnualReturnYear05 4.86% [3]
Past 10 Years rr_AverageAnnualReturnYear10 4.12% [3]
A, C, I Shares | JPMorgan SmartRetirement Income Fund | LIPPER MIXED-ASSET TARGET TODAY FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 9.13%
Past 5 Years rr_AverageAnnualReturnYear05 4.34%
Past 10 Years rr_AverageAnnualReturnYear10 4.12%
[1] (under $1 million)
[2] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.31%, 0.94% and 0.19% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] On 6/1/17, the methodology used to calculate the S&P Target Date Retirement Income Index was changed. Prior to 6/1/17, the S&P Target Date Retirement Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date Retirement Index is comprised of underlying indices of securities.
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A, C, I Shares | JPMorgan SmartRetirement 2020 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2020 Fund<br/>Class/Ticker: A/JTTAX; C/JTTCX; I*/JTTSX</b>
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in "Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION" on page 96 and in "Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in "PURCHASES, REDEMPTIONS AND EXCHANGES" in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees - A, C, I Shares - JPMorgan SmartRetirement 2020 Fund
Class A
Class C
Class I
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 4.50% none none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none [1] 1.00% none
[1] (under $1 million)
"Acquired Fund (Underlying Fund) Fees and Expenses" are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund's net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund's prospectus.
<b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value <br/>of your investment)</b>
Annual Fund Operating Expenses - A, C, I Shares - JPMorgan SmartRetirement 2020 Fund
Class A
Class C
Class I
Management Fees none none none
Distribution (Rule 12b-1) Fees 0.25% 0.75% none
Other Expenses 0.27% 0.27% 0.26%
Service Fees 0.25% 0.25% 0.25%
Remainder of Other Expenses 0.02% 0.02% 0.01%
Acquired Fund (Underlying Fund) Fees and Expenses 0.46% 0.46% 0.46%
Total Annual Fund Operating Expenses 0.98% 1.48% 0.72%
Fee Waivers and/or Expense Reimbursements [1] (0.17%) (0.07%) (0.06%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 0.81% 1.41% 0.66%
[1] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.36%, 0.96% and 0.21% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example - A, C, I Shares - JPMorgan SmartRetirement 2020 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 529 732 952 1,583
CLASS C SHARES 244 461 801 1,762
CLASS I SHARES 67 224 395 889
<b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE: </b>
Expense Example, No Redemption - A, C, I Shares - JPMorgan SmartRetirement 2020 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 529 732 952 1,583
CLASS C SHARES 144 461 801 1,762
CLASS I SHARES 67 224 395 889
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 23% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2020 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2020 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2020 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for fixed income, +/- 10% for equity, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2020 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2020 Funds Index, an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart
Best Quarter 2nd quarter, 2009     15.58%   
Worst Quarter 4th quarter, 2008   -15.68%

The Fund’s year-to-date total return through 9/30/18 was 0.71%.
<b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - A, C, I Shares - JPMorgan SmartRetirement 2020 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS A SHARES 8.61% 6.56% 5.01%
CLASS A SHARES | Return After Taxes on Distributions 7.29% 5.35% 3.96%
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 5.41% 4.69% 3.57%
CLASS C SHARES 12.04% 6.85% 4.85%
CLASS I SHARES 13.86% 7.66% 5.63%
S&P TARGET DATE 2020 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 12.80% 7.92% 5.28%
LIPPER MIXED-ASSET TARGET 2020 FUNDS INDEX (Reflects No Deduction for Taxes) 13.12% 7.02% 4.85%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2020 Index was changed. Prior to 6/1/17, the S&P Target Date 2020 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2020 Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 18 R17.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
A, C, I Shares | JPMorgan SmartRetirement 2020 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2020 Fund<br/>Class/Ticker: A/JTTAX; C/JTTCX; I*/JTTSX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in "Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION" on page 96 and in "Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in "PURCHASES, REDEMPTIONS AND EXCHANGES" in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value <br/>of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 23% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 23.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock "Acquired Fund (Underlying Fund) Fees and Expenses" are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund's net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund's prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund's net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund's prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE: </b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2020 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2020 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2020 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for fixed income, +/- 10% for equity, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2020 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2020 Funds Index, an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2020 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2020 Funds Index, an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     15.58%   
Worst Quarter 4th quarter, 2008   -15.68%

The Fund’s year-to-date total return through 9/30/18 was 0.71%.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
A, C, I Shares | JPMorgan SmartRetirement 2020 Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.46%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.98%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.17%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.81% [2]
1 Year rr_ExpenseExampleYear01 $ 529
3 Years rr_ExpenseExampleYear03 732
5 Years rr_ExpenseExampleYear05 952
10 Years rr_ExpenseExampleYear10 1,583
1 Year rr_ExpenseExampleNoRedemptionYear01 529
3 Years rr_ExpenseExampleNoRedemptionYear03 732
5 Years rr_ExpenseExampleNoRedemptionYear05 952
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,583
2008 rr_AnnualReturn2008 (29.10%)
2009 rr_AnnualReturn2009 28.95%
2010 rr_AnnualReturn2010 14.73%
2011 rr_AnnualReturn2011 (1.00%)
2012 rr_AnnualReturn2012 14.28%
2013 rr_AnnualReturn2013 13.43%
2014 rr_AnnualReturn2014 6.69%
2015 rr_AnnualReturn2015 (0.98%)
2016 rr_AnnualReturn2016 5.58%
2017 rr_AnnualReturn2017 13.73%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund's year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 0.71%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter </b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 15.58%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter </b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (15.68%)
Past 1 Year rr_AverageAnnualReturnYear01 8.61%
Past 5 Years rr_AverageAnnualReturnYear05 6.56%
Past 10 Years rr_AverageAnnualReturnYear10 5.01%
A, C, I Shares | JPMorgan SmartRetirement 2020 Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther 1.00%
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.46%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.48%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.07%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.41% [2]
1 Year rr_ExpenseExampleYear01 $ 244
3 Years rr_ExpenseExampleYear03 461
5 Years rr_ExpenseExampleYear05 801
10 Years rr_ExpenseExampleYear10 1,762
1 Year rr_ExpenseExampleNoRedemptionYear01 144
3 Years rr_ExpenseExampleNoRedemptionYear03 461
5 Years rr_ExpenseExampleNoRedemptionYear05 801
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,762
Past 1 Year rr_AverageAnnualReturnYear01 12.04%
Past 5 Years rr_AverageAnnualReturnYear05 6.85%
Past 10 Years rr_AverageAnnualReturnYear10 4.85%
A, C, I Shares | JPMorgan SmartRetirement 2020 Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.26%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.46%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.72%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.06%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.66% [2]
1 Year rr_ExpenseExampleYear01 $ 67
3 Years rr_ExpenseExampleYear03 224
5 Years rr_ExpenseExampleYear05 395
10 Years rr_ExpenseExampleYear10 889
1 Year rr_ExpenseExampleNoRedemptionYear01 67
3 Years rr_ExpenseExampleNoRedemptionYear03 224
5 Years rr_ExpenseExampleNoRedemptionYear05 395
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 889
Past 1 Year rr_AverageAnnualReturnYear01 13.86%
Past 5 Years rr_AverageAnnualReturnYear05 7.66%
Past 10 Years rr_AverageAnnualReturnYear10 5.63%
A, C, I Shares | JPMorgan SmartRetirement 2020 Fund | Return After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 7.29%
Past 5 Years rr_AverageAnnualReturnYear05 5.35%
Past 10 Years rr_AverageAnnualReturnYear10 3.96%
A, C, I Shares | JPMorgan SmartRetirement 2020 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 5.41%
Past 5 Years rr_AverageAnnualReturnYear05 4.69%
Past 10 Years rr_AverageAnnualReturnYear10 3.57%
A, C, I Shares | JPMorgan SmartRetirement 2020 Fund | S&P TARGET DATE 2020 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 12.80% [3]
Past 5 Years rr_AverageAnnualReturnYear05 7.92% [3]
Past 10 Years rr_AverageAnnualReturnYear10 5.28% [3]
A, C, I Shares | JPMorgan SmartRetirement 2020 Fund | LIPPER MIXED-ASSET TARGET 2020 FUNDS INDEX (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 13.12%
Past 5 Years rr_AverageAnnualReturnYear05 7.02%
Past 10 Years rr_AverageAnnualReturnYear10 4.85%
[1] (under $1 million)
[2] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.36%, 0.96% and 0.21% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] On 6/1/17, the methodology used to calculate the S&P Target Date 2020 Index was changed. Prior to 6/1/17, the S&P Target Date 2020 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2020 Index is comprised of underlying indices of securities.
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A, C, I Shares | JPMorgan SmartRetirement 2025 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2025 Fund<br/>Class/Ticker: A/JNSAX; C/JNSCX; I/JNSSX</b>
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in "Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION" on page 96 and in "Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in "PURCHASES, REDEMPTIONS AND EXCHANGES" in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees - A, C, I Shares - JPMorgan SmartRetirement 2025 Fund
Class A
Class C
Class I
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 4.50% none none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none [1] 1.00% none
[1] (under $1 million)
"Acquired Fund (Underlying Fund) Fees and Expenses" are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund's net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund's prospectus.
<b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Annual Fund Operating Expenses - A, C, I Shares - JPMorgan SmartRetirement 2025 Fund
Class A
Class C
Class I
Management Fees none none none
Distribution (Rule 12b-1) Fees 0.25% 0.75% none
Other Expenses 0.27% 0.28% 0.26%
Service Fees 0.25% 0.25% 0.25%
Remainder of Other Expenses 0.02% 0.03% 0.01%
Acquired Fund (Underlying Fund) Fees and Expenses 0.47% 0.47% 0.47%
Total Annual Fund Operating Expenses 0.99% 1.50% 0.73%
Fee Waivers and/or Expense Reimbursements [1] (0.14%) (0.06%) (0.04%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 0.85% 1.44% 0.69%
[1] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.38%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example - A, C, I Shares - JPMorgan SmartRetirement 2025 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 533 738 959 1,596
CLASS C SHARES 247 468 813 1,785
CLASS I SHARES 70 229 402 903
<b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE: </b>
Expense Example, No Redemption - A, C, I Shares - JPMorgan SmartRetirement 2025 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 533 738 959 1,596
CLASS C SHARES 147 468 813 1,785
CLASS I SHARES 70 229 402 903
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 26% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2025 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2025 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2025 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 10% for equity, +/- 15% for fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2025 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2025 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES </b>
Bar Chart
Best Quarter 2nd quarter, 2009     17.09%   
Worst Quarter 4th quarter, 2008   -17.45%

The Fund’s year-to-date total return through 9/30/18 was 1.13%.
<b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - A, C, I Shares - JPMorgan SmartRetirement 2025 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS A SHARES 10.80% 7.72% 5.43%
CLASS A SHARES | Return After Taxes on Distributions 9.52% 6.48% 4.46%
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 6.65% 5.63% 3.96%
CLASS C SHARES 14.30% 8.03% 5.25%
CLASS I SHARES 16.14% 8.83% 6.04%
S&P TARGET DATE 2025 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 14.55% 8.76% 5.53%
LIPPER MIXED-ASSET TARGET 2025 FUNDS AVERAGE (Reflects No Deduction for Taxes) 14.08% 7.70% 4.94%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2025 Index was changed. Prior to 6/1/17, the S&P Target Date 2025 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2025 Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 21 R25.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
A, C, I Shares | JPMorgan SmartRetirement 2025 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2025 Fund<br/>Class/Ticker: A/JNSAX; C/JNSCX; I/JNSSX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in "Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION" on page 96 and in "Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in "PURCHASES, REDEMPTIONS AND EXCHANGES" in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 26% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 26.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock "Acquired Fund (Underlying Fund) Fees and Expenses" are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund's net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund's prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund's net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund's prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE: </b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2025 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2025 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2025 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 10% for equity, +/- 15% for fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2025 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2025 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2025 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2025 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES </b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     17.09%   
Worst Quarter 4th quarter, 2008   -17.45%

The Fund’s year-to-date total return through 9/30/18 was 1.13%.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
A, C, I Shares | JPMorgan SmartRetirement 2025 Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.47%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.99%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.14%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.85% [2]
1 Year rr_ExpenseExampleYear01 $ 533
3 Years rr_ExpenseExampleYear03 738
5 Years rr_ExpenseExampleYear05 959
10 Years rr_ExpenseExampleYear10 1,596
1 Year rr_ExpenseExampleNoRedemptionYear01 533
3 Years rr_ExpenseExampleNoRedemptionYear03 738
5 Years rr_ExpenseExampleNoRedemptionYear05 959
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,596
2008 rr_AnnualReturn2008 (31.49%)
2009 rr_AnnualReturn2009 31.03%
2010 rr_AnnualReturn2010 15.43%
2011 rr_AnnualReturn2011 (2.65%)
2012 rr_AnnualReturn2012 15.83%
2013 rr_AnnualReturn2013 16.84%
2014 rr_AnnualReturn2014 7.15%
2015 rr_AnnualReturn2015 (1.18%)
2016 rr_AnnualReturn2016 5.88%
2017 rr_AnnualReturn2017 15.99%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund's year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.13%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter </b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 17.09%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter </b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (17.45%)
Past 1 Year rr_AverageAnnualReturnYear01 10.80%
Past 5 Years rr_AverageAnnualReturnYear05 7.72%
Past 10 Years rr_AverageAnnualReturnYear10 5.43%
A, C, I Shares | JPMorgan SmartRetirement 2025 Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther 1.00%
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.03%
Other Expenses rr_OtherExpensesOverAssets 0.28%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.47%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.50%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.06%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.44% [2]
1 Year rr_ExpenseExampleYear01 $ 247
3 Years rr_ExpenseExampleYear03 468
5 Years rr_ExpenseExampleYear05 813
10 Years rr_ExpenseExampleYear10 1,785
1 Year rr_ExpenseExampleNoRedemptionYear01 147
3 Years rr_ExpenseExampleNoRedemptionYear03 468
5 Years rr_ExpenseExampleNoRedemptionYear05 813
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,785
Past 1 Year rr_AverageAnnualReturnYear01 14.30%
Past 5 Years rr_AverageAnnualReturnYear05 8.03%
Past 10 Years rr_AverageAnnualReturnYear10 5.25%
A, C, I Shares | JPMorgan SmartRetirement 2025 Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.26%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.47%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.73%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.04%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.69% [2]
1 Year rr_ExpenseExampleYear01 $ 70
3 Years rr_ExpenseExampleYear03 229
5 Years rr_ExpenseExampleYear05 402
10 Years rr_ExpenseExampleYear10 903
1 Year rr_ExpenseExampleNoRedemptionYear01 70
3 Years rr_ExpenseExampleNoRedemptionYear03 229
5 Years rr_ExpenseExampleNoRedemptionYear05 402
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 903
Past 1 Year rr_AverageAnnualReturnYear01 16.14%
Past 5 Years rr_AverageAnnualReturnYear05 8.83%
Past 10 Years rr_AverageAnnualReturnYear10 6.04%
A, C, I Shares | JPMorgan SmartRetirement 2025 Fund | Return After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 9.52%
Past 5 Years rr_AverageAnnualReturnYear05 6.48%
Past 10 Years rr_AverageAnnualReturnYear10 4.46%
A, C, I Shares | JPMorgan SmartRetirement 2025 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 6.65%
Past 5 Years rr_AverageAnnualReturnYear05 5.63%
Past 10 Years rr_AverageAnnualReturnYear10 3.96%
A, C, I Shares | JPMorgan SmartRetirement 2025 Fund | S&P TARGET DATE 2025 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 14.55% [3]
Past 5 Years rr_AverageAnnualReturnYear05 8.76% [3]
Past 10 Years rr_AverageAnnualReturnYear10 5.53% [3]
A, C, I Shares | JPMorgan SmartRetirement 2025 Fund | LIPPER MIXED-ASSET TARGET 2025 FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 14.08%
Past 5 Years rr_AverageAnnualReturnYear05 7.70%
Past 10 Years rr_AverageAnnualReturnYear10 4.94%
[1] (under $1 million)
[2] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.38%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] On 6/1/17, the methodology used to calculate the S&P Target Date 2025 Index was changed. Prior to 6/1/17, the S&P Target Date 2025 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2025 Index is comprised of underlying indices of securities.
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A, C, I Shares | JPMorgan SmartRetirement 2030 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2030 Fund<br/>Class/Ticker: A/JSMAX; C/JSMCX; I/JSMSX</b>
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in "Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION" on page 96 and in "Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in "PURCHASES, REDEMPTIONS AND EXCHANGES" in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees - A, C, I Shares - JPMorgan SmartRetirement 2030 Fund
Class A
Class C
Class I
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 4.50% none none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none [1] 1.00% none
[1] (under $1 million)
"Acquired Fund (Underlying Fund) Fees and Expenses" are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund's net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund's prospectus.
<b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/>of your investment)</b>
Annual Fund Operating Expenses - A, C, I Shares - JPMorgan SmartRetirement 2030 Fund
Class A
Class C
Class I
Management Fees none none none
Distribution (Rule 12b-1) Fees 0.25% 0.75% none
Other Expenses 0.27% 0.28% 0.26%
Service Fees 0.25% 0.25% 0.25%
Remainder of Other Expenses 0.02% 0.03% 0.01%
Acquired Fund (Underlying Fund) Fees and Expenses 0.48% 0.48% 0.48%
Total Annual Fund Operating Expenses 1.00% 1.51% 0.74%
Fee Waivers and/or Expense Reimbursements [1] (0.14%) (0.06%) (0.04%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 0.86% 1.45% 0.70%
[1] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.38%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example - A, C, I Shares - JPMorgan SmartRetirement 2030 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 534 741 965 1,607
CLASS C SHARES 248 471 818 1,796
CLASS I SHARES 72 233 408 915
<b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/>WOULD BE:</b>
Expense Example, No Redemption - A, C, I Shares - JPMorgan SmartRetirement 2030 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 534 741 965 1,607
CLASS C SHARES 148 471 818 1,796
CLASS I SHARES 72 233 408 915
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 30% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2030 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2030 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2030 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund's Past Performance </b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2030 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2030 Funds Index, an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES </b>
Bar Chart
Best Quarter 2nd quarter, 2009     18.46%   
Worst Quarter 4th quarter, 2008   -19.08%

The Fund’s year-to-date total return through 9/30/18 was 1.56%.
<b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - A, C, I Shares - JPMorgan SmartRetirement 2030 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS A SHARES 13.34% 8.71% 5.64%
CLASS A SHARES | Return After Taxes on Distributions 12.03% 7.51% 4.68%
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 8.20% 6.48% 4.16%
CLASS C SHARES 16.83% 9.01% 5.46%
CLASS I SHARES 18.73% 9.81% 6.25%
S&P TARGET DATE 2030 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 16.19% 9.57% 5.72%
LIPPER MIXED-ASSET TARGET 2030 FUNDS INDEX (Reflects No Deduction for Taxes) 16.97% 9.14% 5.13%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2030 Index was changed. Prior to 6/1/17, the S&P Target Date 2030 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2030 Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 24 R33.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
A, C, I Shares | JPMorgan SmartRetirement 2030 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2030 Fund<br/>Class/Ticker: A/JSMAX; C/JSMCX; I/JSMSX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in "Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION" on page 96 and in "Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in "PURCHASES, REDEMPTIONS AND EXCHANGES" in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/>of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 30% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 30.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock "Acquired Fund (Underlying Fund) Fees and Expenses" are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund's net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund's prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund's net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund's prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/>WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2030 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2030 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2030 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund's Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2030 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2030 Funds Index, an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2030 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2030 Funds Index, an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES </b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     18.46%   
Worst Quarter 4th quarter, 2008   -19.08%

The Fund’s year-to-date total return through 9/30/18 was 1.56%.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
A, C, I Shares | JPMorgan SmartRetirement 2030 Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.48%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.00%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.14%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.86% [2]
1 Year rr_ExpenseExampleYear01 $ 534
3 Years rr_ExpenseExampleYear03 741
5 Years rr_ExpenseExampleYear05 965
10 Years rr_ExpenseExampleYear10 1,607
1 Year rr_ExpenseExampleNoRedemptionYear01 534
3 Years rr_ExpenseExampleNoRedemptionYear03 741
5 Years rr_ExpenseExampleNoRedemptionYear05 965
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,607
2008 rr_AnnualReturn2008 (33.92%)
2009 rr_AnnualReturn2009 32.45%
2010 rr_AnnualReturn2010 16.25%
2011 rr_AnnualReturn2011 (4.20%)
2012 rr_AnnualReturn2012 16.88%
2013 rr_AnnualReturn2013 19.68%
2014 rr_AnnualReturn2014 7.43%
2015 rr_AnnualReturn2015 (1.54%)
2016 rr_AnnualReturn2016 5.88%
2017 rr_AnnualReturn2017 18.66%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund's year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.56%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter </b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 18.46%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter </b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.08%)
Past 1 Year rr_AverageAnnualReturnYear01 13.34%
Past 5 Years rr_AverageAnnualReturnYear05 8.71%
Past 10 Years rr_AverageAnnualReturnYear10 5.64%
A, C, I Shares | JPMorgan SmartRetirement 2030 Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther 1.00%
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.03%
Other Expenses rr_OtherExpensesOverAssets 0.28%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.48%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.51%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.06%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.45% [2]
1 Year rr_ExpenseExampleYear01 $ 248
3 Years rr_ExpenseExampleYear03 471
5 Years rr_ExpenseExampleYear05 818
10 Years rr_ExpenseExampleYear10 1,796
1 Year rr_ExpenseExampleNoRedemptionYear01 148
3 Years rr_ExpenseExampleNoRedemptionYear03 471
5 Years rr_ExpenseExampleNoRedemptionYear05 818
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,796
Past 1 Year rr_AverageAnnualReturnYear01 16.83%
Past 5 Years rr_AverageAnnualReturnYear05 9.01%
Past 10 Years rr_AverageAnnualReturnYear10 5.46%
A, C, I Shares | JPMorgan SmartRetirement 2030 Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.26%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.48%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.74%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.04%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.70% [2]
1 Year rr_ExpenseExampleYear01 $ 72
3 Years rr_ExpenseExampleYear03 233
5 Years rr_ExpenseExampleYear05 408
10 Years rr_ExpenseExampleYear10 915
1 Year rr_ExpenseExampleNoRedemptionYear01 72
3 Years rr_ExpenseExampleNoRedemptionYear03 233
5 Years rr_ExpenseExampleNoRedemptionYear05 408
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 915
Past 1 Year rr_AverageAnnualReturnYear01 18.73%
Past 5 Years rr_AverageAnnualReturnYear05 9.81%
Past 10 Years rr_AverageAnnualReturnYear10 6.25%
A, C, I Shares | JPMorgan SmartRetirement 2030 Fund | Return After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 12.03%
Past 5 Years rr_AverageAnnualReturnYear05 7.51%
Past 10 Years rr_AverageAnnualReturnYear10 4.68%
A, C, I Shares | JPMorgan SmartRetirement 2030 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 8.20%
Past 5 Years rr_AverageAnnualReturnYear05 6.48%
Past 10 Years rr_AverageAnnualReturnYear10 4.16%
A, C, I Shares | JPMorgan SmartRetirement 2030 Fund | S&P TARGET DATE 2030 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 16.19% [3]
Past 5 Years rr_AverageAnnualReturnYear05 9.57% [3]
Past 10 Years rr_AverageAnnualReturnYear10 5.72% [3]
A, C, I Shares | JPMorgan SmartRetirement 2030 Fund | LIPPER MIXED-ASSET TARGET 2030 FUNDS INDEX (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 16.97%
Past 5 Years rr_AverageAnnualReturnYear05 9.14%
Past 10 Years rr_AverageAnnualReturnYear10 5.13%
[1] (under $1 million)
[2] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.38%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] On 6/1/17, the methodology used to calculate the S&P Target Date 2030 Index was changed. Prior to 6/1/17, the S&P Target Date 2030 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2030 Index is comprised of underlying indices of securities.
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A, C, I Shares | JPMorgan SmartRetirement 2035 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2035 Fund<br/>Class/Ticker: A/SRJAX; C/SRJCX; I/SRJSX</b>
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 96 and in “Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees - A, C, I Shares - JPMorgan SmartRetirement 2035 Fund
Class A
Class C
Class I
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 4.50% none none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none [1] 1.00% none
[1] (under $1 million)
“Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value <br/>of your investment)</b>
Annual Fund Operating Expenses - A, C, I Shares - JPMorgan SmartRetirement 2035 Fund
Class A
Class C
Class I
Management Fees none none none
Distribution (Rule 12b-1) Fees 0.25% 0.75% none
Other Expenses 0.27% 0.29% 0.26%
Service Fees 0.25% 0.25% 0.25%
Remainder of Other Expenses 0.02% 0.04% 0.01%
Acquired Fund (Underlying Fund) Fees and Expenses 0.49% 0.49% 0.49%
Total Annual Fund Operating Expenses 1.01% 1.53% 0.75%
Fee Waivers and/or Expense Reimbursements [1] (0.14%) (0.08%) (0.05%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 0.87% 1.45% 0.70%
[1] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example - A, C, I Shares - JPMorgan SmartRetirement 2035 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 535 744 970 1,618
CLASS C SHARES 248 476 827 1,817
CLASS I SHARES 72 235 412 926
<b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE: </b>
Expense Example, No Redemption - A, C, I Shares - JPMorgan SmartRetirement 2035 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 535 744 970 1,618
CLASS C SHARES 148 476 827 1,817
CLASS I SHARES 72 235 412 926
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 28% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2035 Fund is a "fund of funds" that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2035 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund's asset allocation strategy will change. The "glide path" depicted in the chart below shows how the Fund's strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund's long term strategic target allocations as of November 1, 2018. The Fund's actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund's strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2035 Index (the Fund's benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund's strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund's strategic target allocations shown in the glide path and table above may be different from the Fund's actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser's ability to make these modifications, the Fund's actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund's strategic target allocations and actual allocations to underlying funds and investments is available in the Fund's shareholder reports and on the Fund's website from time to time.

The Fund is a "to" target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund's Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2035 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2035 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart
Best Quarter 2nd quarter, 2009     19.32%   
Worst Quarter 4th quarter, 2008   -19.28%

The Fund’s year-to-date total return through 9/30/18 was 1.65%.
<b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - A, C, I Shares - JPMorgan SmartRetirement 2035 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS A SHARES 14.73% 9.42% 5.97%
CLASS A SHARES | Return After Taxes on Distributions 13.49% 8.20% 5.10%
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 8.97% 7.04% 4.47%
CLASS C SHARES 18.37% 9.72% 5.80%
CLASS I SHARES 20.24% 10.55% 6.60%
S&P TARGET DATE 2035 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 17.78% 10.29% 5.90%
LIPPER MIXED-ASSET TARGET 2035 FUNDS AVERAGE (Reflects No Deduction for Taxes) 18.39% 9.63% 5.49%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2035 Index was changed. Prior to 6/1/17, the S&P Target Date 2035 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2035 Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

XML 27 R41.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
A, C, I Shares | JPMorgan SmartRetirement 2035 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2035 Fund<br/>Class/Ticker: A/SRJAX; C/SRJCX; I/SRJSX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 96 and in “Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value <br/>of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 28% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 28.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE: </b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2035 Fund is a "fund of funds" that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2035 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund's asset allocation strategy will change. The "glide path" depicted in the chart below shows how the Fund's strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund's long term strategic target allocations as of November 1, 2018. The Fund's actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund's strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2035 Index (the Fund's benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund's strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund's strategic target allocations shown in the glide path and table above may be different from the Fund's actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser's ability to make these modifications, the Fund's actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund's strategic target allocations and actual allocations to underlying funds and investments is available in the Fund's shareholder reports and on the Fund's website from time to time.

The Fund is a "to" target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund's Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2035 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2035 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2035 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2035 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     19.32%   
Worst Quarter 4th quarter, 2008   -19.28%

The Fund’s year-to-date total return through 9/30/18 was 1.65%.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
A, C, I Shares | JPMorgan SmartRetirement 2035 Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.49%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.01%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.14%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.87% [2]
1 Year rr_ExpenseExampleYear01 $ 535
3 Years rr_ExpenseExampleYear03 744
5 Years rr_ExpenseExampleYear05 970
10 Years rr_ExpenseExampleYear10 1,618
1 Year rr_ExpenseExampleNoRedemptionYear01 535
3 Years rr_ExpenseExampleNoRedemptionYear03 744
5 Years rr_ExpenseExampleNoRedemptionYear05 970
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,618
2008 rr_AnnualReturn2008 (34.76%)
2009 rr_AnnualReturn2009 33.63%
2010 rr_AnnualReturn2010 16.42%
2011 rr_AnnualReturn2011 (4.89%)
2012 rr_AnnualReturn2012 17.88%
2013 rr_AnnualReturn2013 21.86%
2014 rr_AnnualReturn2014 7.57%
2015 rr_AnnualReturn2015 (1.73%)
2016 rr_AnnualReturn2016 6.15%
2017 rr_AnnualReturn2017 20.15%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.65%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 19.32%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.28%)
Past 1 Year rr_AverageAnnualReturnYear01 14.73%
Past 5 Years rr_AverageAnnualReturnYear05 9.42%
Past 10 Years rr_AverageAnnualReturnYear10 5.97%
A, C, I Shares | JPMorgan SmartRetirement 2035 Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther 1.00%
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.04%
Other Expenses rr_OtherExpensesOverAssets 0.29%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.49%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.53%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.08%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.45% [2]
1 Year rr_ExpenseExampleYear01 $ 248
3 Years rr_ExpenseExampleYear03 476
5 Years rr_ExpenseExampleYear05 827
10 Years rr_ExpenseExampleYear10 1,817
1 Year rr_ExpenseExampleNoRedemptionYear01 148
3 Years rr_ExpenseExampleNoRedemptionYear03 476
5 Years rr_ExpenseExampleNoRedemptionYear05 827
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,817
Past 1 Year rr_AverageAnnualReturnYear01 18.37%
Past 5 Years rr_AverageAnnualReturnYear05 9.72%
Past 10 Years rr_AverageAnnualReturnYear10 5.80%
A, C, I Shares | JPMorgan SmartRetirement 2035 Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.26%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.49%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.75%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.05%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.70% [2]
1 Year rr_ExpenseExampleYear01 $ 72
3 Years rr_ExpenseExampleYear03 235
5 Years rr_ExpenseExampleYear05 412
10 Years rr_ExpenseExampleYear10 926
1 Year rr_ExpenseExampleNoRedemptionYear01 72
3 Years rr_ExpenseExampleNoRedemptionYear03 235
5 Years rr_ExpenseExampleNoRedemptionYear05 412
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 926
Past 1 Year rr_AverageAnnualReturnYear01 20.24%
Past 5 Years rr_AverageAnnualReturnYear05 10.55%
Past 10 Years rr_AverageAnnualReturnYear10 6.60%
A, C, I Shares | JPMorgan SmartRetirement 2035 Fund | Return After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 13.49%
Past 5 Years rr_AverageAnnualReturnYear05 8.20%
Past 10 Years rr_AverageAnnualReturnYear10 5.10%
A, C, I Shares | JPMorgan SmartRetirement 2035 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 8.97%
Past 5 Years rr_AverageAnnualReturnYear05 7.04%
Past 10 Years rr_AverageAnnualReturnYear10 4.47%
A, C, I Shares | JPMorgan SmartRetirement 2035 Fund | S&P TARGET DATE 2035 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 17.78% [3]
Past 5 Years rr_AverageAnnualReturnYear05 10.29% [3]
Past 10 Years rr_AverageAnnualReturnYear10 5.90% [3]
A, C, I Shares | JPMorgan SmartRetirement 2035 Fund | LIPPER MIXED-ASSET TARGET 2035 FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 18.39%
Past 5 Years rr_AverageAnnualReturnYear05 9.63%
Past 10 Years rr_AverageAnnualReturnYear10 5.49%
[1] (under $1 million)
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] On 6/1/17, the methodology used to calculate the S&P Target Date 2035 Index was changed. Prior to 6/1/17, the S&P Target Date 2035 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2035 Index is comprised of underlying indices of securities.
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A, C, I Shares | JPMorgan SmartRetirement 2040 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2040 Fund</b> <br/><b>Class/Ticker: A/SMTAX; C/SMTCX; I/SMTSX</b>
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 96 and in “Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees - A, C, I Shares - JPMorgan SmartRetirement 2040 Fund
Class A
Class C
Class I
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 4.50% none none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none [1] 1.00% none
[1] (under $1 million)
“Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Annual Fund Operating Expenses - A, C, I Shares - JPMorgan SmartRetirement 2040 Fund
Class A
Class C
Class I
Management Fees none none none
Distribution (Rule 12b-1) Fees 0.25% 0.75% none
Other Expenses 0.27% 0.29% 0.26%
Service Fees 0.25% 0.25% 0.25%
Remainder of Other Expenses 0.02% 0.04% 0.01%
Acquired Fund (Underlying Fund) Fees and Expenses 0.50% 0.50% 0.50%
Total Annual Fund Operating Expenses 1.02% 1.54% 0.76%
Fee Waivers and/or Expense Reimbursements [1] (0.14%) (0.08%) (0.05%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 0.88% 1.46% 0.71%
[1] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example - A, C, I Shares - JPMorgan SmartRetirement 2040 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 536 747 975 1,630
CLASS C SHARES 249 479 832 1,828
CLASS I SHARES 73 238 417 938
<b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST <br/>WOULD BE: </b>
Expense Example, No Redemption - A, C, I Shares - JPMorgan SmartRetirement 2040 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 536 747 975 1,630
CLASS C SHARES 149 479 832 1,828
CLASS I SHARES 73 238 417 938
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 29% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2040 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2040 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2040 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2040 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2040 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart
Best Quarter 2nd quarter, 2009     19.23%   
Worst Quarter 4th quarter, 2008   -19.51%

The Fund’s year-to-date total return through 9/30/18 was 1.96%.
<b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017) </b>
Average Annual Total Returns - A, C, I Shares - JPMorgan SmartRetirement 2040 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS A SHARES 16.08% 9.90% 6.17%
CLASS A SHARES | Return After Taxes on Distributions 14.83% 8.73% 5.26%
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 9.82% 7.48% 4.63%
CLASS C SHARES 19.81% 10.20% 6.00%
CLASS I SHARES 21.74% 11.03% 6.79%
S&P TARGET DATE 2040 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 18.87% 10.78% 6.03%
LIPPER MIXED-ASSET TARGET 2040 FUNDS AVERAGE (Reflects No Deduction for Taxes) 19.23% 9.75% 5.37%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2040 Index was changed. Prior to 6/1/17, the S&P Target Date 2040 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2040 Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 30 R49.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
A, C, I Shares | JPMorgan SmartRetirement 2040 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2040 Fund</b> <br/><b>Class/Ticker: A/SMTAX; C/SMTCX; I/SMTSX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 96 and in “Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 29% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 29.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST <br/>WOULD BE: </b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2040 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2040 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2040 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2040 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2040 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2040 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2040 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     19.23%   
Worst Quarter 4th quarter, 2008   -19.51%

The Fund’s year-to-date total return through 9/30/18 was 1.96%.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017) </b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
A, C, I Shares | JPMorgan SmartRetirement 2040 Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.02%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.14%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.88% [2]
1 Year rr_ExpenseExampleYear01 $ 536
3 Years rr_ExpenseExampleYear03 747
5 Years rr_ExpenseExampleYear05 975
10 Years rr_ExpenseExampleYear10 1,630
1 Year rr_ExpenseExampleNoRedemptionYear01 536
3 Years rr_ExpenseExampleNoRedemptionYear03 747
5 Years rr_ExpenseExampleNoRedemptionYear05 975
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,630
2008 rr_AnnualReturn2008 (34.82%)
2009 rr_AnnualReturn2009 33.33%
2010 rr_AnnualReturn2010 16.58%
2011 rr_AnnualReturn2011 (5.04%)
2012 rr_AnnualReturn2012 17.94%
2013 rr_AnnualReturn2013 22.77%
2014 rr_AnnualReturn2014 7.63%
2015 rr_AnnualReturn2015 (1.89%)
2016 rr_AnnualReturn2016 6.53%
2017 rr_AnnualReturn2017 21.56%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.96%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 19.23%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter </b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.51%)
Past 1 Year rr_AverageAnnualReturnYear01 16.08%
Past 5 Years rr_AverageAnnualReturnYear05 9.90%
Past 10 Years rr_AverageAnnualReturnYear10 6.17%
A, C, I Shares | JPMorgan SmartRetirement 2040 Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther 1.00%
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.04%
Other Expenses rr_OtherExpensesOverAssets 0.29%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.54%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.08%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.46% [2]
1 Year rr_ExpenseExampleYear01 $ 249
3 Years rr_ExpenseExampleYear03 479
5 Years rr_ExpenseExampleYear05 832
10 Years rr_ExpenseExampleYear10 1,828
1 Year rr_ExpenseExampleNoRedemptionYear01 149
3 Years rr_ExpenseExampleNoRedemptionYear03 479
5 Years rr_ExpenseExampleNoRedemptionYear05 832
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,828
Past 1 Year rr_AverageAnnualReturnYear01 19.81%
Past 5 Years rr_AverageAnnualReturnYear05 10.20%
Past 10 Years rr_AverageAnnualReturnYear10 6.00%
A, C, I Shares | JPMorgan SmartRetirement 2040 Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.26%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.76%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.05%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.71% [2]
1 Year rr_ExpenseExampleYear01 $ 73
3 Years rr_ExpenseExampleYear03 238
5 Years rr_ExpenseExampleYear05 417
10 Years rr_ExpenseExampleYear10 938
1 Year rr_ExpenseExampleNoRedemptionYear01 73
3 Years rr_ExpenseExampleNoRedemptionYear03 238
5 Years rr_ExpenseExampleNoRedemptionYear05 417
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 938
Past 1 Year rr_AverageAnnualReturnYear01 21.74%
Past 5 Years rr_AverageAnnualReturnYear05 11.03%
Past 10 Years rr_AverageAnnualReturnYear10 6.79%
A, C, I Shares | JPMorgan SmartRetirement 2040 Fund | Return After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 14.83%
Past 5 Years rr_AverageAnnualReturnYear05 8.73%
Past 10 Years rr_AverageAnnualReturnYear10 5.26%
A, C, I Shares | JPMorgan SmartRetirement 2040 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 9.82%
Past 5 Years rr_AverageAnnualReturnYear05 7.48%
Past 10 Years rr_AverageAnnualReturnYear10 4.63%
A, C, I Shares | JPMorgan SmartRetirement 2040 Fund | S&P TARGET DATE 2040 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 18.87% [3]
Past 5 Years rr_AverageAnnualReturnYear05 10.78% [3]
Past 10 Years rr_AverageAnnualReturnYear10 6.03% [3]
A, C, I Shares | JPMorgan SmartRetirement 2040 Fund | LIPPER MIXED-ASSET TARGET 2040 FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 19.23%
Past 5 Years rr_AverageAnnualReturnYear05 9.75%
Past 10 Years rr_AverageAnnualReturnYear10 5.37%
[1] (under $1 million)
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] On 6/1/17, the methodology used to calculate the S&P Target Date 2040 Index was changed. Prior to 6/1/17, the S&P Target Date 2040 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2040 Index is comprised of underlying indices of securities.
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A, C, I Shares | JPMorgan SmartRetirement 2045 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2045 Fund</b><br/><b>Class/Ticker: A/JSAAX; C/JSACX; I/JSASX</b>
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 96 and in “Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees - A, C, I Shares - JPMorgan SmartRetirement 2045 Fund
Class A
Class C
Class I
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 4.50% none none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none [1] 1.00% none
[1] (under $1 million)
“Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value <br/>of your investment)</b>
Annual Fund Operating Expenses - A, C, I Shares - JPMorgan SmartRetirement 2045 Fund
Class A
Class C
Class I
Management Fees none none none
Distribution (Rule 12b-1) Fees 0.25% 0.75% none
Other Expenses 0.28% 0.31% 0.27%
Service Fees 0.25% 0.25% 0.25%
Remainder of Other Expenses 0.03% 0.06% 0.02%
Acquired Fund (Underlying Fund) Fees and Expenses 0.50% 0.50% 0.50%
Total Annual Fund Operating Expenses 1.03% 1.56% 0.77%
Fee Waivers and/or Expense Reimbursements [1] (0.14%) (0.09%) (0.05%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 0.89% 1.47% 0.72%
[1] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example - A, C, I Shares - JPMorgan SmartRetirement 2045 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 537 750 980 1,641
CLASS C SHARES 250 484 841 1,849
CLASS I SHARES 74 241 423 949
<b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE: </b>
Expense Example, No Redemption - A, C, I Shares - JPMorgan SmartRetirement 2045 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 537 750 980 1,641
CLASS C SHARES 150 484 841 1,849
CLASS I SHARES 74 241 423 949
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 26% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2045 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2045 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2045 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2045 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2045 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES </b>
Bar Chart
Best Quarter 2nd quarter, 2009     19.13%   
Worst Quarter 4th quarter, 2008   -19.29%

The Fund’s year-to-date total return through 9/30/18 was 2.07%.
<b>AVERAGE ANNUAL TOTAL RETURNS <br/> (For periods ended December 31, 2017) </b>
Average Annual Total Returns - A, C, I Shares - JPMorgan SmartRetirement 2045 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS A SHARES 16.28% 9.94% 6.38%
CLASS A SHARES | Return After Taxes on Distributions 15.07% 8.74% 5.50%
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 9.87% 7.48% 4.81%
CLASS C SHARES 19.96% 10.24% 6.21%
CLASS I SHARES 21.87% 11.07% 7.01%
S&P TARGET DATE 2045 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 19.56% 11.15% 6.06%
LIPPER MIXED-ASSET TARGET 2045 FUNDS AVERAGE (Reflects No Deduction for Taxes) 20.35% 10.42% 5.76%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2045 Index was changed. Prior to 6/1/17, the S&P Target Date 2045 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2045 Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 33 R57.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
A, C, I Shares | JPMorgan SmartRetirement 2045 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2045 Fund</b><br/><b>Class/Ticker: A/JSAAX; C/JSACX; I/JSASX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 96 and in “Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value <br/>of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 26% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 26.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE: </b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2045 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2045 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2045 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2045 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2045 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2045 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2045 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES </b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     19.13%   
Worst Quarter 4th quarter, 2008   -19.29%

The Fund’s year-to-date total return through 9/30/18 was 2.07%.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS <br/> (For periods ended December 31, 2017) </b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
A, C, I Shares | JPMorgan SmartRetirement 2045 Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.03%
Other Expenses rr_OtherExpensesOverAssets 0.28%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.03%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.14%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.89% [2]
1 Year rr_ExpenseExampleYear01 $ 537
3 Years rr_ExpenseExampleYear03 750
5 Years rr_ExpenseExampleYear05 980
10 Years rr_ExpenseExampleYear10 1,641
1 Year rr_ExpenseExampleNoRedemptionYear01 537
3 Years rr_ExpenseExampleNoRedemptionYear03 750
5 Years rr_ExpenseExampleNoRedemptionYear05 980
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,641
2008 rr_AnnualReturn2008 (33.80%)
2009 rr_AnnualReturn2009 33.88%
2010 rr_AnnualReturn2010 16.26%
2011 rr_AnnualReturn2011 (5.03%)
2012 rr_AnnualReturn2012 18.13%
2013 rr_AnnualReturn2013 22.75%
2014 rr_AnnualReturn2014 7.55%
2015 rr_AnnualReturn2015 (1.79%)
2016 rr_AnnualReturn2016 6.54%
2017 rr_AnnualReturn2017 21.75%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 2.07%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter </b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 19.13%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter </b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.29%)
Past 1 Year rr_AverageAnnualReturnYear01 16.28%
Past 5 Years rr_AverageAnnualReturnYear05 9.94%
Past 10 Years rr_AverageAnnualReturnYear10 6.38%
A, C, I Shares | JPMorgan SmartRetirement 2045 Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther 1.00%
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.06%
Other Expenses rr_OtherExpensesOverAssets 0.31%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.56%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.09%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.47% [2]
1 Year rr_ExpenseExampleYear01 $ 250
3 Years rr_ExpenseExampleYear03 484
5 Years rr_ExpenseExampleYear05 841
10 Years rr_ExpenseExampleYear10 1,849
1 Year rr_ExpenseExampleNoRedemptionYear01 150
3 Years rr_ExpenseExampleNoRedemptionYear03 484
5 Years rr_ExpenseExampleNoRedemptionYear05 841
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,849
Past 1 Year rr_AverageAnnualReturnYear01 19.96%
Past 5 Years rr_AverageAnnualReturnYear05 10.24%
Past 10 Years rr_AverageAnnualReturnYear10 6.21%
A, C, I Shares | JPMorgan SmartRetirement 2045 Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.77%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.05%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.72% [2]
1 Year rr_ExpenseExampleYear01 $ 74
3 Years rr_ExpenseExampleYear03 241
5 Years rr_ExpenseExampleYear05 423
10 Years rr_ExpenseExampleYear10 949
1 Year rr_ExpenseExampleNoRedemptionYear01 74
3 Years rr_ExpenseExampleNoRedemptionYear03 241
5 Years rr_ExpenseExampleNoRedemptionYear05 423
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 949
Past 1 Year rr_AverageAnnualReturnYear01 21.87%
Past 5 Years rr_AverageAnnualReturnYear05 11.07%
Past 10 Years rr_AverageAnnualReturnYear10 7.01%
A, C, I Shares | JPMorgan SmartRetirement 2045 Fund | Return After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 15.07%
Past 5 Years rr_AverageAnnualReturnYear05 8.74%
Past 10 Years rr_AverageAnnualReturnYear10 5.50%
A, C, I Shares | JPMorgan SmartRetirement 2045 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 9.87%
Past 5 Years rr_AverageAnnualReturnYear05 7.48%
Past 10 Years rr_AverageAnnualReturnYear10 4.81%
A, C, I Shares | JPMorgan SmartRetirement 2045 Fund | S&P TARGET DATE 2045 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 19.56% [3]
Past 5 Years rr_AverageAnnualReturnYear05 11.15% [3]
Past 10 Years rr_AverageAnnualReturnYear10 6.06% [3]
A, C, I Shares | JPMorgan SmartRetirement 2045 Fund | LIPPER MIXED-ASSET TARGET 2045 FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.35%
Past 5 Years rr_AverageAnnualReturnYear05 10.42%
Past 10 Years rr_AverageAnnualReturnYear10 5.76%
[1] (under $1 million)
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] On 6/1/17, the methodology used to calculate the S&P Target Date 2045 Index was changed. Prior to 6/1/17, the S&P Target Date 2045 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2045 Index is comprised of underlying indices of securities.
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A, C, I Shares | JPMorgan SmartRetirement 2050 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2050 Fund<br/>Class/Ticker: A/JTSAX; C/JTSCX; I/JTSSX</b>
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 96 and in “Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees - A, C, I Shares - JPMorgan SmartRetirement 2050 Fund
Class A
Class C
Class I
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 4.50% none none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none [1] 1.00% none
[1] (under $1 million)
“Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Annual Fund Operating Expenses - A, C, I Shares - JPMorgan SmartRetirement 2050 Fund
Class A
Class C
Class I
Management Fees none none none
Distribution (Rule 12b-1) Fees 0.25% 0.75% none
Other Expenses 0.28% 0.32% 0.27%
Service Fees 0.25% 0.25% 0.25%
Remainder of Other Expenses 0.03% 0.07% 0.02%
Acquired Fund (Underlying Fund) Fees and Expenses 0.50% 0.50% 0.50%
Total Annual Fund Operating Expenses 1.03% 1.57% 0.77%
Fee Waivers and/or Expense Reimbursements [1] (0.15%) (0.11%) (0.06%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 0.88% 1.46% 0.71%
[1] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example - A, C, I Shares - JPMorgan SmartRetirement 2050 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 536 749 979 1,640
CLASS C SHARES 249 485 845 1,858
CLASS I SHARES 73 240 422 949
<b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST <br/>WOULD BE: </b>
Expense Example, No Redemption - A, C, I Shares - JPMorgan SmartRetirement 2050 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 536 749 979 1,640
CLASS C SHARES 149 485 845 1,858
CLASS I SHARES 73 240 422 949
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 25% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2050 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2050 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2050 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2050 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2050 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart
Best Quarter 2nd quarter, 2009     19.00%   
Worst Quarter 4th quarter, 2008   -19.17%

The Fund’s year-to-date total return through 9/30/18 was 2.03%.
<b>AVERAGE ANNUAL TOTAL RETURNS <br/> (For periods ended December 31, 2017) </b>
Average Annual Total Returns - A, C, I Shares - JPMorgan SmartRetirement 2050 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS A SHARES 16.31% 9.94% 6.38%
CLASS A SHARES | Return After Taxes on Distributions 15.12% 8.73% 5.47%
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 9.88% 7.47% 4.79%
CLASS C SHARES 20.02% 10.22% 6.21%
CLASS I SHARES 21.91% 11.06% 7.01%
S&P TARGET DATE 2050 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 20.18% 11.48% 6.22%
LIPPER MIXED-ASSET TARGET 2050 FUNDS AVERAGE (Reflects No Deduction for Taxes) 20.34% 10.23% 5.56%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2050 Index was changed. Prior to 6/1/17, the S&P Target Date 2050 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2050 Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 36 R65.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
A, C, I Shares | JPMorgan SmartRetirement 2050 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2050 Fund<br/>Class/Ticker: A/JTSAX; C/JTSCX; I/JTSSX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 96 and in “Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 25% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 25.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST <br/>WOULD BE: </b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2050 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2050 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2050 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2050 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2050 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2050 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2050 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     19.00%   
Worst Quarter 4th quarter, 2008   -19.17%

The Fund’s year-to-date total return through 9/30/18 was 2.03%.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS <br/> (For periods ended December 31, 2017) </b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
A, C, I Shares | JPMorgan SmartRetirement 2050 Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.03%
Other Expenses rr_OtherExpensesOverAssets 0.28%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.03%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.15%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.88% [2]
1 Year rr_ExpenseExampleYear01 $ 536
3 Years rr_ExpenseExampleYear03 749
5 Years rr_ExpenseExampleYear05 979
10 Years rr_ExpenseExampleYear10 1,640
1 Year rr_ExpenseExampleNoRedemptionYear01 536
3 Years rr_ExpenseExampleNoRedemptionYear03 749
5 Years rr_ExpenseExampleNoRedemptionYear05 979
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,640
2008 rr_AnnualReturn2008 (33.78%)
2009 rr_AnnualReturn2009 33.42%
2010 rr_AnnualReturn2010 16.73%
2011 rr_AnnualReturn2011 (5.02%)
2012 rr_AnnualReturn2012 18.00%
2013 rr_AnnualReturn2013 22.76%
2014 rr_AnnualReturn2014 7.55%
2015 rr_AnnualReturn2015 (1.79%)
2016 rr_AnnualReturn2016 6.47%
2017 rr_AnnualReturn2017 21.80%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 2.03%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter </b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 19.00%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter </b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.17%)
Past 1 Year rr_AverageAnnualReturnYear01 16.31%
Past 5 Years rr_AverageAnnualReturnYear05 9.94%
Past 10 Years rr_AverageAnnualReturnYear10 6.38%
A, C, I Shares | JPMorgan SmartRetirement 2050 Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther 1.00%
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.07%
Other Expenses rr_OtherExpensesOverAssets 0.32%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.57%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.11%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.46% [2]
1 Year rr_ExpenseExampleYear01 $ 249
3 Years rr_ExpenseExampleYear03 485
5 Years rr_ExpenseExampleYear05 845
10 Years rr_ExpenseExampleYear10 1,858
1 Year rr_ExpenseExampleNoRedemptionYear01 149
3 Years rr_ExpenseExampleNoRedemptionYear03 485
5 Years rr_ExpenseExampleNoRedemptionYear05 845
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,858
Past 1 Year rr_AverageAnnualReturnYear01 20.02%
Past 5 Years rr_AverageAnnualReturnYear05 10.22%
Past 10 Years rr_AverageAnnualReturnYear10 6.21%
A, C, I Shares | JPMorgan SmartRetirement 2050 Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.77%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.06%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.71% [2]
1 Year rr_ExpenseExampleYear01 $ 73
3 Years rr_ExpenseExampleYear03 240
5 Years rr_ExpenseExampleYear05 422
10 Years rr_ExpenseExampleYear10 949
1 Year rr_ExpenseExampleNoRedemptionYear01 73
3 Years rr_ExpenseExampleNoRedemptionYear03 240
5 Years rr_ExpenseExampleNoRedemptionYear05 422
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 949
Past 1 Year rr_AverageAnnualReturnYear01 21.91%
Past 5 Years rr_AverageAnnualReturnYear05 11.06%
Past 10 Years rr_AverageAnnualReturnYear10 7.01%
A, C, I Shares | JPMorgan SmartRetirement 2050 Fund | Return After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 15.12%
Past 5 Years rr_AverageAnnualReturnYear05 8.73%
Past 10 Years rr_AverageAnnualReturnYear10 5.47%
A, C, I Shares | JPMorgan SmartRetirement 2050 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 9.88%
Past 5 Years rr_AverageAnnualReturnYear05 7.47%
Past 10 Years rr_AverageAnnualReturnYear10 4.79%
A, C, I Shares | JPMorgan SmartRetirement 2050 Fund | S&P TARGET DATE 2050 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.18% [3]
Past 5 Years rr_AverageAnnualReturnYear05 11.48% [3]
Past 10 Years rr_AverageAnnualReturnYear10 6.22% [3]
A, C, I Shares | JPMorgan SmartRetirement 2050 Fund | LIPPER MIXED-ASSET TARGET 2050 FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.34%
Past 5 Years rr_AverageAnnualReturnYear05 10.23%
Past 10 Years rr_AverageAnnualReturnYear10 5.56%
[1] (under $1 million)
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] On 6/1/17, the methodology used to calculate the S&P Target Date 2050 Index was changed. Prior to 6/1/17, the S&P Target Date 2050 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2050 Index is comprised of underlying indices of securities.
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A, C, I Shares | JPMorgan SmartRetirement 2055 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2055 Fund</b><br/><b>Class/Ticker: A/JFFAX; C/JFFCX; I/JFFSX </b>
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in "Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION" on page 96 and in "Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in "PURCHASES, REDEMPTIONS AND EXCHANGES" in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees - A, C, I Shares - JPMorgan SmartRetirement 2055 Fund
Class A
Class C
Class I
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 4.50% none none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none [1] 1.00% none
[1] (under $1 million)
“Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Annual Fund Operating Expenses - A, C, I Shares - JPMorgan SmartRetirement 2055 Fund
Class A
Class C
Class I
Management Fees none none none
Distribution (Rule 12b-1) Fees 0.25% 0.75% none
Other Expenses 0.30% 0.42% 0.28%
Service Fees 0.25% 0.25% 0.25%
Remainder of Other Expenses 0.05% 0.17% 0.03%
Acquired Fund (Underlying Fund) Fees and Expenses 0.50% 0.50% 0.50%
Total Annual Fund Operating Expenses 1.05% 1.67% 0.78%
Fee Waivers and/or Expense Reimbursements [1] (0.17%) (0.21%) (0.07%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 0.88% 1.46% 0.71%
[1] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example - A, C, I Shares - JPMorgan SmartRetirement 2055 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 536 753 988 1,660
CLASS C SHARES 249 506 888 1,959
CLASS I SHARES 73 242 426 960
<b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE:</b>
Expense Example, No Redemption - A, C, I Shares - JPMorgan SmartRetirement 2055 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 536 753 988 1,660
CLASS C SHARES 149 506 888 1,959
CLASS I SHARES 73 242 426 960
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 21% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2055 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2055 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2055 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITs are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year over the past five calendar years. The table shows the average annual total returns for the past one year, five years and life of the Fund. It compares that performance to the S&P Target Date 2055 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart
Best Quarter    4th quarter, 2013         7.52%   
Worst Quarter   

3rd quarter, 2015

     -7.69%   

The Fund’s year-to-date total return through 9/30/18 was 2.08%.
<b>AVERAGE ANNUAL TOTAL RETURNS<br/> (For periods ended December 31, 2017)</b>
Average Annual Total Returns - A, C, I Shares - JPMorgan SmartRetirement 2055 Fund
Past 1 Year
Past 5 Years
Life of Fund
Inception Date
CLASS A SHARES 16.19% 9.95% 10.32% Jan. 31, 2012
CLASS A SHARES | Return After Taxes on Distributions 15.09% 8.98% 9.43% Jan. 31, 2012
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 9.71% 7.56% 7.96% Jan. 31, 2012
CLASS C SHARES 19.95% 10.25% 10.48% Jan. 31, 2012
CLASS I SHARES 21.83% 11.08% 11.31% Jan. 31, 2012
S&P TARGET DATE 2055 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 20.47% 11.70% 11.64%  
LIPPER MIXED-ASSET TARGET 2055+ FUNDS AVERAGE (Reflects No Deduction for Taxes) 20.99% 10.85% 10.89%  
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2055 Index was changed. Prior to 6/1/17, the S&P Target Date 2055 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2055 Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 39 R73.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
A, C, I Shares | JPMorgan SmartRetirement 2055 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2055 Fund</b><br/><b>Class/Ticker: A/JFFAX; C/JFFCX; I/JFFSX </b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in "Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION" on page 96 and in "Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in "PURCHASES, REDEMPTIONS AND EXCHANGES" in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 21% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 21.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2055 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2055 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2055 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITs are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year over the past five calendar years. The table shows the average annual total returns for the past one year, five years and life of the Fund. It compares that performance to the S&P Target Date 2055 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year over the past five calendar years. The table shows the average annual total returns for the past one year, five years and life of the Fund.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2055 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter    4th quarter, 2013         7.52%   
Worst Quarter   

3rd quarter, 2015

     -7.69%   

The Fund’s year-to-date total return through 9/30/18 was 2.08%.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS<br/> (For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
A, C, I Shares | JPMorgan SmartRetirement 2055 Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.05%
Other Expenses rr_OtherExpensesOverAssets 0.30%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.05%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.17%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.88% [2]
1 Year rr_ExpenseExampleYear01 $ 536
3 Years rr_ExpenseExampleYear03 753
5 Years rr_ExpenseExampleYear05 988
10 Years rr_ExpenseExampleYear10 1,660
1 Year rr_ExpenseExampleNoRedemptionYear01 536
3 Years rr_ExpenseExampleNoRedemptionYear03 753
5 Years rr_ExpenseExampleNoRedemptionYear05 988
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,660
2013 rr_AnnualReturn2013 22.75%
2014 rr_AnnualReturn2014 7.63%
2015 rr_AnnualReturn2015 (1.78%)
2016 rr_AnnualReturn2016 6.54%
2017 rr_AnnualReturn2017 21.69%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 2.08%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2013
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 7.52%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2015
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (7.69%)
Past 1 Year rr_AverageAnnualReturnYear01 16.19%
Past 5 Years rr_AverageAnnualReturnYear05 9.95%
Life of Fund rr_AverageAnnualReturnSinceInception 10.32%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 31, 2012
A, C, I Shares | JPMorgan SmartRetirement 2055 Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther 1.00%
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.17%
Other Expenses rr_OtherExpensesOverAssets 0.42%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.67%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.21%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.46% [2]
1 Year rr_ExpenseExampleYear01 $ 249
3 Years rr_ExpenseExampleYear03 506
5 Years rr_ExpenseExampleYear05 888
10 Years rr_ExpenseExampleYear10 1,959
1 Year rr_ExpenseExampleNoRedemptionYear01 149
3 Years rr_ExpenseExampleNoRedemptionYear03 506
5 Years rr_ExpenseExampleNoRedemptionYear05 888
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,959
Past 1 Year rr_AverageAnnualReturnYear01 19.95%
Past 5 Years rr_AverageAnnualReturnYear05 10.25%
Life of Fund rr_AverageAnnualReturnSinceInception 10.48%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 31, 2012
A, C, I Shares | JPMorgan SmartRetirement 2055 Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.03%
Other Expenses rr_OtherExpensesOverAssets 0.28%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.78%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.07%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.71% [2]
1 Year rr_ExpenseExampleYear01 $ 73
3 Years rr_ExpenseExampleYear03 242
5 Years rr_ExpenseExampleYear05 426
10 Years rr_ExpenseExampleYear10 960
1 Year rr_ExpenseExampleNoRedemptionYear01 73
3 Years rr_ExpenseExampleNoRedemptionYear03 242
5 Years rr_ExpenseExampleNoRedemptionYear05 426
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 960
Past 1 Year rr_AverageAnnualReturnYear01 21.83%
Past 5 Years rr_AverageAnnualReturnYear05 11.08%
Life of Fund rr_AverageAnnualReturnSinceInception 11.31%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 31, 2012
A, C, I Shares | JPMorgan SmartRetirement 2055 Fund | Return After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 15.09%
Past 5 Years rr_AverageAnnualReturnYear05 8.98%
Life of Fund rr_AverageAnnualReturnSinceInception 9.43%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 31, 2012
A, C, I Shares | JPMorgan SmartRetirement 2055 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 9.71%
Past 5 Years rr_AverageAnnualReturnYear05 7.56%
Life of Fund rr_AverageAnnualReturnSinceInception 7.96%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 31, 2012
A, C, I Shares | JPMorgan SmartRetirement 2055 Fund | S&P TARGET DATE 2055 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.47% [3]
Past 5 Years rr_AverageAnnualReturnYear05 11.70% [3]
Life of Fund rr_AverageAnnualReturnSinceInception 11.64% [3]
A, C, I Shares | JPMorgan SmartRetirement 2055 Fund | LIPPER MIXED-ASSET TARGET 2055+ FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.99%
Past 5 Years rr_AverageAnnualReturnYear05 10.85%
Life of Fund rr_AverageAnnualReturnSinceInception 10.89%
[1] (under $1 million)
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] On 6/1/17, the methodology used to calculate the S&P Target Date 2055 Index was changed. Prior to 6/1/17, the S&P Target Date 2055 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2055 Index is comprised of underlying indices of securities.
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A, C, I Shares | JPMorgan SmartRetirement 2060 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2060 Fund<br/> Class/Ticker: A/JAKAX; C/JAKCX; I/JAKSX </b>
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 96 and in “Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees - A, C, I Shares - JPMorgan SmartRetirement 2060 Fund
Class A
Class C
Class I
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 4.50% none none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none [1] 1.00% none
[1] (under $1 million)
“Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Annual Fund Operating Expenses - A, C, I Shares - JPMorgan SmartRetirement 2060 Fund
Class A
Class C
Class I
Management Fees none none none
Distribution (Rule 12b-1) Fees 0.25% 0.75% none
Other Expenses 1.02% 1.15% 0.94%
Service Fees 0.25% 0.25% 0.25%
Remainder of Other Expenses 0.77% 0.90% 0.69%
Acquired Fund (Underlying Fund) Fees and Expenses 0.49% 0.49% 0.49%
Total Annual Fund Operating Expenses 1.76% 2.39% 1.43%
Fee Waivers and/or Expense Reimbursements [1] (0.88%) (0.93%) (0.72%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 0.88% 1.46% 0.71%
[1] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example - A, C, I Shares - JPMorgan SmartRetirement 2060 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 536 897 1,282 2,360
CLASS C SHARES 249 657 1,191 2,655
CLASS I SHARES 73 382 713 1,651
<b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE:</b>
Expense Example, No Redemption - A, C, I Shares - JPMorgan SmartRetirement 2060 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 536 897 1,282 2,360
CLASS C SHARES 149 657 1,191 2,655
CLASS I SHARES 73 382 713 1,651
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 39% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2060 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2060 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2060+ Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITs are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows the performance of the Fund’s Class A Shares for the past calendar year. The table shows the average annual total returns for the past one year and life of the Fund. The table compares that performance to the S&P Target Date 2060+ Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Index, an index based on the total returns of all mutual funds within the Funds designated category as determined by Lipper. Unlike the S&P Index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information will be available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart
Best Quarter 1st quarter, 2017     6.15%   
Worst Quarter 2nd quarter, 2017   3.74%

The Fund’s year-to-date total return through 9/30/18 was 2.18%.
<b>AVERAGE ANNUAL TOTAL RETURNS<br/> (For periods ended December 31, 2017)</b>
Average Annual Total Returns - A, C, I Shares - JPMorgan SmartRetirement 2060 Fund
Past 1 Year
Life of Fund
Inception Date
CLASS A SHARES 16.12% 13.33% Aug. 31, 2016
CLASS A SHARES | Return After Taxes on Distributions 15.44% 12.52% Aug. 31, 2016
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 9.38% 9.98% Aug. 31, 2016
CLASS C SHARES 19.84% 16.60% Aug. 31, 2016
CLASS I SHARES 21.84% 17.50% Aug. 31, 2016
S&P TARGET DATE 2060+ INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 20.75% 17.59%  
LIPPER MIXED-ASSET TARGET 2055+ FUNDS INDEX (Reflects No Deduction for Taxes) 22.08% 17.42%  
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2060+ Index was changed. Prior to 6/1/17, the S&P Target Date 2060+ Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2060+ Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 42 R81.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
A, C, I Shares | JPMorgan SmartRetirement 2060 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2060 Fund<br/> Class/Ticker: A/JAKAX; C/JAKCX; I/JAKSX </b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 96 and in “Financial Intermediary-Specific Sales Charge Waivers in Appendix A of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 39% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 39.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in the J.P. Morgan Funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/> WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2060 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2060 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2060+ Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITs are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows the performance of the Fund’s Class A Shares for the past calendar year. The table shows the average annual total returns for the past one year and life of the Fund. The table compares that performance to the S&P Target Date 2060+ Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Index, an index based on the total returns of all mutual funds within the Funds designated category as determined by Lipper. Unlike the S&P Index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information will be available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows the performance of the Fund’s Class A Shares for the past calendar year. The table shows the average annual total returns for the past one year and life of the Fund.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex The table compares that performance to the S&P Target Date 2060+ Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Index, an index based on the total returns of all mutual funds within the Funds designated category as determined by Lipper. Unlike the S&P Index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 1st quarter, 2017     6.15%   
Worst Quarter 2nd quarter, 2017   3.74%

The Fund’s year-to-date total return through 9/30/18 was 2.18%.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS<br/> (For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
A, C, I Shares | JPMorgan SmartRetirement 2060 Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.77%
Other Expenses rr_OtherExpensesOverAssets 1.02%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.49%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.76%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.88%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.88% [2]
1 Year rr_ExpenseExampleYear01 $ 536
3 Years rr_ExpenseExampleYear03 897
5 Years rr_ExpenseExampleYear05 1,282
10 Years rr_ExpenseExampleYear10 2,360
1 Year rr_ExpenseExampleNoRedemptionYear01 536
3 Years rr_ExpenseExampleNoRedemptionYear03 897
5 Years rr_ExpenseExampleNoRedemptionYear05 1,282
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,360
2017 rr_AnnualReturn2017 21.59%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 2.18%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2017
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 6.15%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Jun. 30, 2017
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn 3.74%
Past 1 Year rr_AverageAnnualReturnYear01 16.12%
Life of Fund rr_AverageAnnualReturnSinceInception 13.33%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2016
A, C, I Shares | JPMorgan SmartRetirement 2060 Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther 1.00%
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.90%
Other Expenses rr_OtherExpensesOverAssets 1.15%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.49%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.39%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.93%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.46% [2]
1 Year rr_ExpenseExampleYear01 $ 249
3 Years rr_ExpenseExampleYear03 657
5 Years rr_ExpenseExampleYear05 1,191
10 Years rr_ExpenseExampleYear10 2,655
1 Year rr_ExpenseExampleNoRedemptionYear01 149
3 Years rr_ExpenseExampleNoRedemptionYear03 657
5 Years rr_ExpenseExampleNoRedemptionYear05 1,191
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,655
Past 1 Year rr_AverageAnnualReturnYear01 19.84%
Life of Fund rr_AverageAnnualReturnSinceInception 16.60%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2016
A, C, I Shares | JPMorgan SmartRetirement 2060 Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.69%
Other Expenses rr_OtherExpensesOverAssets 0.94%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.49%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.43%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.72%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.71% [2]
1 Year rr_ExpenseExampleYear01 $ 73
3 Years rr_ExpenseExampleYear03 382
5 Years rr_ExpenseExampleYear05 713
10 Years rr_ExpenseExampleYear10 1,651
1 Year rr_ExpenseExampleNoRedemptionYear01 73
3 Years rr_ExpenseExampleNoRedemptionYear03 382
5 Years rr_ExpenseExampleNoRedemptionYear05 713
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,651
Past 1 Year rr_AverageAnnualReturnYear01 21.84%
Life of Fund rr_AverageAnnualReturnSinceInception 17.50%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2016
A, C, I Shares | JPMorgan SmartRetirement 2060 Fund | Return After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 15.44%
Life of Fund rr_AverageAnnualReturnSinceInception 12.52%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2016
A, C, I Shares | JPMorgan SmartRetirement 2060 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 9.38%
Life of Fund rr_AverageAnnualReturnSinceInception 9.98%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2016
A, C, I Shares | JPMorgan SmartRetirement 2060 Fund | S&P TARGET DATE 2060+ INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.75% [3]
Life of Fund rr_AverageAnnualReturnSinceInception 17.59% [3]
A, C, I Shares | JPMorgan SmartRetirement 2060 Fund | LIPPER MIXED-ASSET TARGET 2055+ FUNDS INDEX (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 22.08%
Life of Fund rr_AverageAnnualReturnSinceInception 17.42%
[1] (under $1 million)
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39%, 0.97% and 0.22% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] On 6/1/17, the methodology used to calculate the S&P Target Date 2060+ Index was changed. Prior to 6/1/17, the S&P Target Date 2060+ Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2060+ Index is comprised of underlying indices of securities.
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R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement Income Fund
<b>JPMorgan SmartRetirement<sup>®</sup> Income Fund</b><br/><b>Class/Ticker: R2/JSIZX; R3/JSIPX; R4/JSIQX; R5/JSIIX; R6/JSIYX</b>
<b>What is the goal of the Fund?</b>
The Fund seeks current income and some capital appreciation.
<b>Fees and Expenses of the Fund</b>
The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES<br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Annual Fund Operating Expenses - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement Income Fund
Class R2
Class R3
Class R4
Class R5
Class R6
Management Fees none none none none none
Distribution (Rule 12b-1) Fees 0.50% 0.25% none none none
Other Expenses 0.27% 0.28% 0.37% 0.11% 0.01%
Service Fees 0.25% 0.25% 0.25% 0.10% none
Remainder of Other Expenses 0.02% 0.03% 0.12% 0.01% 0.01%
Acquired Fund (Underlying Fund) Fees and Expenses 0.44% 0.44% 0.44% 0.44% 0.44%
Total Annual Fund Operating Expenses 1.21% 0.97% 0.81% 0.55% 0.45%
Fee Waivers and/or Expense Reimbursements [1] (0.04%) (0.05%) (0.14%) (0.03%) (0.03%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 1.17% 0.92% 0.67% 0.52% 0.42%
[1] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example</b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement Income Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 119 380 661 1,462
CLASS R3 SHARES 94 304 531 1,185
CLASS R4 SHARES 68 245 436 989
CLASS R5 SHARES 53 173 304 686
CLASS R6 SHARES 43 141 249 564
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement Income Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 119 380 661 1,462
CLASS R3 SHARES 94 304 531 1,185
CLASS R4 SHARES 68 245 436 989
CLASS R5 SHARES 53 173 304 686
CLASS R6 SHARES 43 141 249 564
<b>Portfolio Turnover</b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 23% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies?</b>
The JPMorgan SmartRetirement® Income Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors who are retired or about to retire soon. The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, with an emphasis on fixed income funds over equity funds and other funds. The Fund’s strategic target allocations among various asset and sub-asset classes as of November 1, 2018 are set forth below:
Strategic Target Allocations1
Fixed Income 59.0%
U.S. Fixed Income Funds 37.5%
Inflation Managed Funds 9.0%
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 0.0%
Commodities Funds 0.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The table above shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date Retirement Income Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for fixed income, +/- 10% for equity, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments listed above. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed above from time to time.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date Retirement Income Index, a broad-based securities market index, and the Lipper Mixed-Asset Target Today Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
<b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES</b>
Bar Chart
Best Quarter    2nd quarter, 2009         9.91%   
Worst Quarter   

4th quarter, 2008

     -7.94%   

The Fund’s year-to-date total return through 9/30/18 was 0.06%.
<b>AVERAGE ANNUAL TOTAL RETURNS <br/> (For periods ended December 31, 2017)</b>
Average Annual Total Returns - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement Income Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS R2 SHARES 10.45% 5.06% 4.59%
CLASS R2 SHARES | Return After Taxes on Distributions 9.37% 4.13% 3.62%
CLASS R2 SHARES | Return After Taxes on Distributions and Sale of Fund Shares 6.30% 3.56% 3.23%
CLASS R3 SHARES 10.68% 5.30% 4.82%
CLASS R4 SHARES 10.97% 5.45% 4.97%
CLASS R5 SHARES 11.11% 5.61% 5.12%
CLASS R6 SHARES 11.22% 5.65% 5.14%
S&P TARGET DATE RETIREMENT INCOME INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 8.54% 4.86% 4.12%
LIPPER MIXED-ASSET TARGET TODAY FUNDS AVERAGE (Reflects No Deduction for Taxes) 9.13% 4.34% 4.12%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date Retirement Income Index was changed. Prior to 6/1/17, the S&P Target Date Retirement Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date Retirement Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 45 R88.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement Income Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> Income Fund</b><br/><b>Class/Ticker: R2/JSIZX; R3/JSIPX; R4/JSIQX; R5/JSIIX; R6/JSIYX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund?</b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Fund seeks current income and some capital appreciation.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund</b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES<br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover</b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 23% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 23.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example</b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies?</b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® Income Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors who are retired or about to retire soon. The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, with an emphasis on fixed income funds over equity funds and other funds. The Fund’s strategic target allocations among various asset and sub-asset classes as of November 1, 2018 are set forth below:
Strategic Target Allocations1
Fixed Income 59.0%
U.S. Fixed Income Funds 37.5%
Inflation Managed Funds 9.0%
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 0.0%
Commodities Funds 0.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The table above shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date Retirement Income Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for fixed income, +/- 10% for equity, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments listed above. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed above from time to time.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date Retirement Income Index, a broad-based securities market index, and the Lipper Mixed-Asset Target Today Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date Retirement Income Index, a broad-based securities market index, and the Lipper Mixed-Asset Target Today Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES</b>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter    2nd quarter, 2009         9.91%   
Worst Quarter   

4th quarter, 2008

     -7.94%   

The Fund’s year-to-date total return through 9/30/18 was 0.06%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS <br/> (For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement Income Fund | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.44%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.21%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.04%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.17% [1]
1 Year rr_ExpenseExampleYear01 $ 119
3 Years rr_ExpenseExampleYear03 380
5 Years rr_ExpenseExampleYear05 661
10 Years rr_ExpenseExampleYear10 1,462
1 Year rr_ExpenseExampleNoRedemptionYear01 119
3 Years rr_ExpenseExampleNoRedemptionYear03 380
5 Years rr_ExpenseExampleNoRedemptionYear05 661
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,462
2008 rr_AnnualReturn2008 (17.23%)
2009 rr_AnnualReturn2009 20.77%
2010 rr_AnnualReturn2010 10.83%
2011 rr_AnnualReturn2011 0.68%
2012 rr_AnnualReturn2012 9.74%
2013 rr_AnnualReturn2013 7.37%
2014 rr_AnnualReturn2014 4.61%
2015 rr_AnnualReturn2015 (1.49%)
2016 rr_AnnualReturn2016 4.72%
2017 rr_AnnualReturn2017 10.45%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 0.06%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 9.91%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (7.94%)
Past 1 Year rr_AverageAnnualReturnYear01 10.45%
Past 5 Years rr_AverageAnnualReturnYear05 5.06%
Past 10 Years rr_AverageAnnualReturnYear10 4.59%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement Income Fund | Class R3  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.03%
Other Expenses rr_OtherExpensesOverAssets 0.28%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.44%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.97%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.05%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.92% [1]
1 Year rr_ExpenseExampleYear01 $ 94
3 Years rr_ExpenseExampleYear03 304
5 Years rr_ExpenseExampleYear05 531
10 Years rr_ExpenseExampleYear10 1,185
1 Year rr_ExpenseExampleNoRedemptionYear01 94
3 Years rr_ExpenseExampleNoRedemptionYear03 304
5 Years rr_ExpenseExampleNoRedemptionYear05 531
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,185
Past 1 Year rr_AverageAnnualReturnYear01 10.68%
Past 5 Years rr_AverageAnnualReturnYear05 5.30%
Past 10 Years rr_AverageAnnualReturnYear10 4.82%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement Income Fund | Class R4  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.12%
Other Expenses rr_OtherExpensesOverAssets 0.37%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.44%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.81%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.14%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.67% [1]
1 Year rr_ExpenseExampleYear01 $ 68
3 Years rr_ExpenseExampleYear03 245
5 Years rr_ExpenseExampleYear05 436
10 Years rr_ExpenseExampleYear10 989
1 Year rr_ExpenseExampleNoRedemptionYear01 68
3 Years rr_ExpenseExampleNoRedemptionYear03 245
5 Years rr_ExpenseExampleNoRedemptionYear05 436
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 989
Past 1 Year rr_AverageAnnualReturnYear01 10.97%
Past 5 Years rr_AverageAnnualReturnYear05 5.45%
Past 10 Years rr_AverageAnnualReturnYear10 4.97%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement Income Fund | Class R5  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.10%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.11%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.44%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.55%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.03%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.52% [1]
1 Year rr_ExpenseExampleYear01 $ 53
3 Years rr_ExpenseExampleYear03 173
5 Years rr_ExpenseExampleYear05 304
10 Years rr_ExpenseExampleYear10 686
1 Year rr_ExpenseExampleNoRedemptionYear01 53
3 Years rr_ExpenseExampleNoRedemptionYear03 173
5 Years rr_ExpenseExampleNoRedemptionYear05 304
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 686
Past 1 Year rr_AverageAnnualReturnYear01 11.11%
Past 5 Years rr_AverageAnnualReturnYear05 5.61%
Past 10 Years rr_AverageAnnualReturnYear10 5.12%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement Income Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.01%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.44%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.45%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.03%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.42% [1]
1 Year rr_ExpenseExampleYear01 $ 43
3 Years rr_ExpenseExampleYear03 141
5 Years rr_ExpenseExampleYear05 249
10 Years rr_ExpenseExampleYear10 564
1 Year rr_ExpenseExampleNoRedemptionYear01 43
3 Years rr_ExpenseExampleNoRedemptionYear03 141
5 Years rr_ExpenseExampleNoRedemptionYear05 249
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 564
Past 1 Year rr_AverageAnnualReturnYear01 11.22%
Past 5 Years rr_AverageAnnualReturnYear05 5.65%
Past 10 Years rr_AverageAnnualReturnYear10 5.14%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement Income Fund | Return After Taxes on Distributions | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 9.37%
Past 5 Years rr_AverageAnnualReturnYear05 4.13%
Past 10 Years rr_AverageAnnualReturnYear10 3.62%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement Income Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 6.30%
Past 5 Years rr_AverageAnnualReturnYear05 3.56%
Past 10 Years rr_AverageAnnualReturnYear10 3.23%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement Income Fund | S&P TARGET DATE RETIREMENT INCOME INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 8.54% [2]
Past 5 Years rr_AverageAnnualReturnYear05 4.86% [2]
Past 10 Years rr_AverageAnnualReturnYear10 4.12% [2]
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement Income Fund | LIPPER MIXED-ASSET TARGET TODAY FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 9.13%
Past 5 Years rr_AverageAnnualReturnYear05 4.34%
Past 10 Years rr_AverageAnnualReturnYear10 4.12%
[1] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[2] On 6/1/17, the methodology used to calculate the S&P Target Date Retirement Income Index was changed. Prior to 6/1/17, the S&P Target Date Retirement Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date Retirement Index is comprised of underlying indices of securities.
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R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2020 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2020 Fund<br/> Class/Ticker: R2/JTTZX; R3/JTTPX; R4/JTTQX; R5/JTTIX; R6/JTTYX</b>
<b>What is the goal of the Fund?</b>
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.
<b>Fees and Expenses of the Fund</b>
The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Annual Fund Operating Expenses - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2020 Fund
Class R2
Class R3
Class R4
Class R5
Class R6
Management Fees none none none none none
Distribution (Rule 12b-1) Fees 0.50% 0.25% none none none
Other Expenses 0.26% 0.27% 0.29% 0.11% 0.01%
Service Fees 0.25% 0.25% 0.25% 0.10% none
Remainder of Other Expenses 0.01% 0.02% 0.04% 0.01% 0.01%
Acquired Fund (Underlying Fund) Fees and Expenses 0.46% 0.46% 0.46% 0.46% 0.46%
Total Annual Fund Operating Expenses 1.22% 0.98% 0.75% 0.57% 0.47%
Fee Waivers and/or Expense Reimbursements [1] (0.02%) (0.03%) (0.05%) (0.02%) (0.02%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 1.20% 0.95% 0.70% 0.55% 0.45%
[1] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example</b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2020 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 122 385 668 1,476
CLASS R3 SHARES 97 309 539 1,199
CLASS R4 SHARES 72 235 412 926
CLASS R5 SHARES 56 181 316 712
CLASS R6 SHARES 46 149 261 590
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2020 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 122 385 668 1,476
CLASS R3 SHARES 97 309 539 1,199
CLASS R4 SHARES 72 235 412 926
CLASS R5 SHARES 56 181 316 712
CLASS R6 SHARES 46 149 261 590
<b>Portfolio Turnover</b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 23% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies?</b>
The JPMorgan SmartRetirement® 2020 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2020 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart
Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2020 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for fixed income, +/- 10% for equity, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2020 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2020 Funds Index, an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
<b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES</b>
Bar Chart
Best Quarter 2nd quarter, 2009     15.52%   
Worst Quarter 4th quarter, 2008   -15.68%

The Fund’s year-to-date total return through 9/30/18 was 0.46%.
<b>AVERAGE ANNUAL TOTAL RETURNS <br/> (For periods ended December 31, 2017)</b>
Average Annual Total Returns - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2020 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS R2 SHARES 13.27% 7.25% 5.24%
CLASS R2 SHARES | Return After Taxes on Distributions 12.05% 6.14% 4.27%
CLASS R2 SHARES | Return After Taxes on Distributions and Sale of Fund Shares 8.05% 5.29% 3.80%
CLASS R3 SHARES 13.50% 7.49% 5.47%
CLASS R4 SHARES 13.77% 7.64% 5.62%
CLASS R5 SHARES 13.96% 7.81% 5.79%
CLASS R6 SHARES 14.14% 7.87% 5.82%
S&P TARGET DATE 2020 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 12.80% 7.92% 5.28%
LIPPER MIXED-ASSET TARGET 2020 FUNDS INDEX (Reflects No Deduction for Taxes) 13.12% 7.02% 4.85%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2020 Index was changed. Prior to 6/1/17, the S&P Target Date 2020 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2020 Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 48 R95.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2020 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2020 Fund<br/> Class/Ticker: R2/JTTZX; R3/JTTPX; R4/JTTQX; R5/JTTIX; R6/JTTYX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund?</b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund</b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover</b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 23% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 23.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example</b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies?</b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2020 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2020 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart
Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2020 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for fixed income, +/- 10% for equity, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2020 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2020 Funds Index, an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2020 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2020 Funds Index, an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES</b>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     15.52%   
Worst Quarter 4th quarter, 2008   -15.68%

The Fund’s year-to-date total return through 9/30/18 was 0.46%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS <br/> (For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2020 Fund | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.26%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.46%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.22%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.20% [1]
1 Year rr_ExpenseExampleYear01 $ 122
3 Years rr_ExpenseExampleYear03 385
5 Years rr_ExpenseExampleYear05 668
10 Years rr_ExpenseExampleYear10 1,476
1 Year rr_ExpenseExampleNoRedemptionYear01 122
3 Years rr_ExpenseExampleNoRedemptionYear03 385
5 Years rr_ExpenseExampleNoRedemptionYear05 668
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,476
2008 rr_AnnualReturn2008 (29.10%)
2009 rr_AnnualReturn2009 28.66%
2010 rr_AnnualReturn2010 14.44%
2011 rr_AnnualReturn2011 (1.27%)
2012 rr_AnnualReturn2012 14.00%
2013 rr_AnnualReturn2013 13.19%
2014 rr_AnnualReturn2014 6.35%
2015 rr_AnnualReturn2015 (1.22%)
2016 rr_AnnualReturn2016 5.34%
2017 rr_AnnualReturn2017 13.27%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 0.46%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 15.52%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (15.68%)
Past 1 Year rr_AverageAnnualReturnYear01 13.27%
Past 5 Years rr_AverageAnnualReturnYear05 7.25%
Past 10 Years rr_AverageAnnualReturnYear10 5.24%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2020 Fund | Class R3  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.46%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.98%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.03%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.95% [1]
1 Year rr_ExpenseExampleYear01 $ 97
3 Years rr_ExpenseExampleYear03 309
5 Years rr_ExpenseExampleYear05 539
10 Years rr_ExpenseExampleYear10 1,199
1 Year rr_ExpenseExampleNoRedemptionYear01 97
3 Years rr_ExpenseExampleNoRedemptionYear03 309
5 Years rr_ExpenseExampleNoRedemptionYear05 539
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,199
Past 1 Year rr_AverageAnnualReturnYear01 13.50%
Past 5 Years rr_AverageAnnualReturnYear05 7.49%
Past 10 Years rr_AverageAnnualReturnYear10 5.47%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2020 Fund | Class R4  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.04%
Other Expenses rr_OtherExpensesOverAssets 0.29%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.46%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.75%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.05%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.70% [1]
1 Year rr_ExpenseExampleYear01 $ 72
3 Years rr_ExpenseExampleYear03 235
5 Years rr_ExpenseExampleYear05 412
10 Years rr_ExpenseExampleYear10 926
1 Year rr_ExpenseExampleNoRedemptionYear01 72
3 Years rr_ExpenseExampleNoRedemptionYear03 235
5 Years rr_ExpenseExampleNoRedemptionYear05 412
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 926
Past 1 Year rr_AverageAnnualReturnYear01 13.77%
Past 5 Years rr_AverageAnnualReturnYear05 7.64%
Past 10 Years rr_AverageAnnualReturnYear10 5.62%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2020 Fund | Class R5  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.10%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.11%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.46%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.57%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.55% [1]
1 Year rr_ExpenseExampleYear01 $ 56
3 Years rr_ExpenseExampleYear03 181
5 Years rr_ExpenseExampleYear05 316
10 Years rr_ExpenseExampleYear10 712
1 Year rr_ExpenseExampleNoRedemptionYear01 56
3 Years rr_ExpenseExampleNoRedemptionYear03 181
5 Years rr_ExpenseExampleNoRedemptionYear05 316
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 712
Past 1 Year rr_AverageAnnualReturnYear01 13.96%
Past 5 Years rr_AverageAnnualReturnYear05 7.81%
Past 10 Years rr_AverageAnnualReturnYear10 5.79%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2020 Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.01%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.46%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.47%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.45% [1]
1 Year rr_ExpenseExampleYear01 $ 46
3 Years rr_ExpenseExampleYear03 149
5 Years rr_ExpenseExampleYear05 261
10 Years rr_ExpenseExampleYear10 590
1 Year rr_ExpenseExampleNoRedemptionYear01 46
3 Years rr_ExpenseExampleNoRedemptionYear03 149
5 Years rr_ExpenseExampleNoRedemptionYear05 261
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 590
Past 1 Year rr_AverageAnnualReturnYear01 14.14%
Past 5 Years rr_AverageAnnualReturnYear05 7.87%
Past 10 Years rr_AverageAnnualReturnYear10 5.82%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2020 Fund | Return After Taxes on Distributions | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 12.05%
Past 5 Years rr_AverageAnnualReturnYear05 6.14%
Past 10 Years rr_AverageAnnualReturnYear10 4.27%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2020 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 8.05%
Past 5 Years rr_AverageAnnualReturnYear05 5.29%
Past 10 Years rr_AverageAnnualReturnYear10 3.80%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2020 Fund | S&P TARGET DATE 2020 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 12.80% [2]
Past 5 Years rr_AverageAnnualReturnYear05 7.92% [2]
Past 10 Years rr_AverageAnnualReturnYear10 5.28% [2]
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2020 Fund | LIPPER MIXED-ASSET TARGET 2020 FUNDS INDEX (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 13.12%
Past 5 Years rr_AverageAnnualReturnYear05 7.02%
Past 10 Years rr_AverageAnnualReturnYear10 4.85%
[1] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[2] On 6/1/17, the methodology used to calculate the S&P Target Date 2020 Index was changed. Prior to 6/1/17, the S&P Target Date 2020 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2020 Index is comprised of underlying indices of securities.
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R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2025 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2025 Fund<br/>Class/Ticker: R2/JNSZX; R3/JNSPX; R4/JNSQX; R5/JNSIX; R6/JNSYX</b>
<b>What is the goal of the Fund?</b>
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.
<b>Fees and Expenses of the Fund </b>
The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Annual Fund Operating Expenses - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2025 Fund
Class R2
Class R3
Class R4
Class R5
Class R6
Management Fees none none none none none
Distribution (Rule 12b-1) Fees 0.50% 0.25% none none none
Other Expenses 0.26% 0.27% 0.27% 0.11% 0.01%
Service Fees 0.25% 0.25% 0.25% 0.10% none
Remainder of Other Expenses 0.01% 0.02% 0.02% 0.01% 0.01%
Acquired Fund (Underlying Fund) Fees and Expenses 0.47% 0.47% 0.47% 0.47% 0.47%
Total Annual Fund Operating Expenses 1.23% 0.99% 0.74% 0.58% 0.48%
Fee Waivers and/or Expense Reimbursements [1] (0.01%) (0.02%) (0.02%) (0.01%) (0.01%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 1.22% 0.97% 0.72% 0.57% 0.47%
[1] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2025 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 124 389 675 1,488
CLASS R3 SHARES 99 313 545 1,211
CLASS R4 SHARES 74 235 410 917
CLASS R5 SHARES 58 185 323 725
CLASS R6 SHARES 48 153 268 603
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2025 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 124 389 675 1,488
CLASS R3 SHARES 99 313 545 1,211
CLASS R4 SHARES 74 235 410 917
CLASS R5 SHARES 58 185 323 725
CLASS R6 SHARES 48 153 268 603
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 26% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2025 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2025 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2025 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 10% for equity, +/- 15% for fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund's performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund's strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund's investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund's Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund's investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund's investments in an underlying fund may create a conflict of interest. In addition, the Adviser's authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund's tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company's financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund's or the underlying fund's portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund's investment decreases in value.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund's exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund's investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund's securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer's securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called "sub-prime" mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for "sub-prime" mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund's securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded "delivery versus payment," an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in "emerging markets." Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund's or an underlying fund's original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund's direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares' values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund's shares may adversely affect the fund's performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2025 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2025 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
<b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES</b>
Bar Chart
Best Quarter 2nd quarter, 2009     17.12%   
Worst Quarter 4th quarter, 2008   -17.45%

The Fund’s year-to-date total return through 9/30/18 was 0.85%.
<b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2025 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS R2 SHARES 15.55% 8.43% 5.65%
CLASS R2 SHARES | Return After Taxes on Distributions 14.38% 7.28% 4.76%
CLASS R2 SHARES | Return After Taxes on Distributions and Sale of Fund Shares 9.35% 6.25% 4.18%
CLASS R3 SHARES 15.79% 8.68% 5.88%
CLASS R4 SHARES 16.08% 8.82% 6.03%
CLASS R5 SHARES 16.32% 8.99% 6.19%
CLASS R6 SHARES 16.43% 9.04% 6.22%
S&P TARGET DATE 2025 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 14.55% 8.76% 5.53%
LIPPER MIXED-ASSET TARGET 2025 FUNDS AVERAGE (Reflects No Deduction for Taxes) 14.08% 7.70% 4.94%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2025 Index was changed. Prior to 6/1/17, the S&P Target Date 2025 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2025 Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 51 R102.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2025 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2025 Fund<br/>Class/Ticker: R2/JNSZX; R3/JNSPX; R4/JNSQX; R5/JNSIX; R6/JNSYX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund?</b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 26% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 26.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2025 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2025 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2025 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 10% for equity, +/- 15% for fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund's performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund's strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund's investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund's Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund's investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund's investments in an underlying fund may create a conflict of interest. In addition, the Adviser's authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund's tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company's financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund's or the underlying fund's portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund's investment decreases in value.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund's exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund's investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund's securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer's securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called "sub-prime" mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for "sub-prime" mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund's securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded "delivery versus payment," an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in "emerging markets." Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund's or an underlying fund's original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund's direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares' values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund's shares may adversely affect the fund's performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2025 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2025 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2025 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2025 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES</b>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     17.12%   
Worst Quarter 4th quarter, 2008   -17.45%

The Fund’s year-to-date total return through 9/30/18 was 0.85%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2025 Fund | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.26%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.47%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.23%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.01%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.22% [1]
1 Year rr_ExpenseExampleYear01 $ 124
3 Years rr_ExpenseExampleYear03 389
5 Years rr_ExpenseExampleYear05 675
10 Years rr_ExpenseExampleYear10 1,488
1 Year rr_ExpenseExampleNoRedemptionYear01 124
3 Years rr_ExpenseExampleNoRedemptionYear03 389
5 Years rr_ExpenseExampleNoRedemptionYear05 675
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,488
2008 rr_AnnualReturn2008 (31.49%)
2009 rr_AnnualReturn2009 30.59%
2010 rr_AnnualReturn2010 15.15%
2011 rr_AnnualReturn2011 (2.86%)
2012 rr_AnnualReturn2012 15.48%
2013 rr_AnnualReturn2013 16.55%
2014 rr_AnnualReturn2014 6.88%
2015 rr_AnnualReturn2015 (1.36%)
2016 rr_AnnualReturn2016 5.59%
2017 rr_AnnualReturn2017 15.55%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 0.85%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 17.12%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (17.45%)
Past 1 Year rr_AverageAnnualReturnYear01 15.55%
Past 5 Years rr_AverageAnnualReturnYear05 8.43%
Past 10 Years rr_AverageAnnualReturnYear10 5.65%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2025 Fund | Class R3  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.47%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.99%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.97% [1]
1 Year rr_ExpenseExampleYear01 $ 99
3 Years rr_ExpenseExampleYear03 313
5 Years rr_ExpenseExampleYear05 545
10 Years rr_ExpenseExampleYear10 1,211
1 Year rr_ExpenseExampleNoRedemptionYear01 99
3 Years rr_ExpenseExampleNoRedemptionYear03 313
5 Years rr_ExpenseExampleNoRedemptionYear05 545
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,211
Past 1 Year rr_AverageAnnualReturnYear01 15.79%
Past 5 Years rr_AverageAnnualReturnYear05 8.68%
Past 10 Years rr_AverageAnnualReturnYear10 5.88%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2025 Fund | Class R4  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.47%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.74%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.72% [1]
1 Year rr_ExpenseExampleYear01 $ 74
3 Years rr_ExpenseExampleYear03 235
5 Years rr_ExpenseExampleYear05 410
10 Years rr_ExpenseExampleYear10 917
1 Year rr_ExpenseExampleNoRedemptionYear01 74
3 Years rr_ExpenseExampleNoRedemptionYear03 235
5 Years rr_ExpenseExampleNoRedemptionYear05 410
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 917
Past 1 Year rr_AverageAnnualReturnYear01 16.08%
Past 5 Years rr_AverageAnnualReturnYear05 8.82%
Past 10 Years rr_AverageAnnualReturnYear10 6.03%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2025 Fund | Class R5  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.10%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.11%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.47%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.58%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.01%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.57% [1]
1 Year rr_ExpenseExampleYear01 $ 58
3 Years rr_ExpenseExampleYear03 185
5 Years rr_ExpenseExampleYear05 323
10 Years rr_ExpenseExampleYear10 725
1 Year rr_ExpenseExampleNoRedemptionYear01 58
3 Years rr_ExpenseExampleNoRedemptionYear03 185
5 Years rr_ExpenseExampleNoRedemptionYear05 323
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 725
Past 1 Year rr_AverageAnnualReturnYear01 16.32%
Past 5 Years rr_AverageAnnualReturnYear05 8.99%
Past 10 Years rr_AverageAnnualReturnYear10 6.19%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2025 Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.01%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.47%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.48%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.01%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.47% [1]
1 Year rr_ExpenseExampleYear01 $ 48
3 Years rr_ExpenseExampleYear03 153
5 Years rr_ExpenseExampleYear05 268
10 Years rr_ExpenseExampleYear10 603
1 Year rr_ExpenseExampleNoRedemptionYear01 48
3 Years rr_ExpenseExampleNoRedemptionYear03 153
5 Years rr_ExpenseExampleNoRedemptionYear05 268
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 603
Past 1 Year rr_AverageAnnualReturnYear01 16.43%
Past 5 Years rr_AverageAnnualReturnYear05 9.04%
Past 10 Years rr_AverageAnnualReturnYear10 6.22%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2025 Fund | Return After Taxes on Distributions | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 14.38%
Past 5 Years rr_AverageAnnualReturnYear05 7.28%
Past 10 Years rr_AverageAnnualReturnYear10 4.76%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2025 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 9.35%
Past 5 Years rr_AverageAnnualReturnYear05 6.25%
Past 10 Years rr_AverageAnnualReturnYear10 4.18%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2025 Fund | S&P TARGET DATE 2025 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 14.55% [2]
Past 5 Years rr_AverageAnnualReturnYear05 8.76% [2]
Past 10 Years rr_AverageAnnualReturnYear10 5.53% [2]
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2025 Fund | LIPPER MIXED-ASSET TARGET 2025 FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 14.08%
Past 5 Years rr_AverageAnnualReturnYear05 7.70%
Past 10 Years rr_AverageAnnualReturnYear10 4.94%
[1] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[2] On 6/1/17, the methodology used to calculate the S&P Target Date 2025 Index was changed. Prior to 6/1/17, the S&P Target Date 2025 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2025 Index is comprised of underlying indices of securities.
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R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2030 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2030 Fund<br/>Class/Ticker: R2/JSMZX; R3/JSMNX; R4/JSMQX; R5/JSMIX; R6/JSMYX</b>
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund</b>
The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Annual Fund Operating Expenses - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2030 Fund
Class R2
Class R3
Class R4
Class R5
Class R6
Management Fees none none none none none
Distribution (Rule 12b-1) Fees 0.50% 0.25% none none none
Other Expenses 0.26% 0.27% 0.29% 0.11% 0.01%
Service Fees 0.25% 0.25% 0.25% 0.10% none
Remainder of Other Expenses 0.01% 0.02% 0.04% 0.01% 0.01%
Acquired Fund (Underlying Fund) Fees and Expenses 0.48% 0.48% 0.48% 0.48% 0.48%
Total Annual Fund Operating Expenses 1.24% 1.00% 0.77% 0.59% 0.49%
Fee Waivers and/or Expense Reimbursements [1] (0.01%) (0.02%) (0.04%) (0.01%) (0.01%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 1.23% 0.98% 0.73% 0.58% 0.48%
[1] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2030 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 125 392 680 1,499
CLASS R3 SHARES 100 316 551 1,223
CLASS R4 SHARES 75 242 424 950
CLASS R5 SHARES 59 188 328 737
CLASS R6 SHARES 49 156 273 615
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example, No Redemption - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2030 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 125 392 680 1,499
CLASS R3 SHARES 100 316 551 1,223
CLASS R4 SHARES 75 242 424 950
CLASS R5 SHARES 59 188 328 737
CLASS R6 SHARES 49 156 273 615
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 30% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2030 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2030 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2030 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2030 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2030 Funds Index, an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
<b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES </b>
Bar Chart
Best Quarter 2nd quarter, 2009     18.38%   
Worst Quarter 4th quarter, 2008   -19.09%

The Fund’s year-to-date total return through 9/30/18 was 1.28%.
<b>AVERAGE ANNUAL TOTAL RETURNS<br/> (For periods ended December 31, 2017)</b>
Average Annual Total Returns - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2030 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS R2 SHARES 18.17% 9.41% 5.87%
CLASS R2 SHARES | Return After Taxes on Distributions 16.95% 8.30% 4.98%
CLASS R2 SHARES | Return After Taxes on Distributions and Sale of Fund Shares 10.94% 7.09% 4.38%
CLASS R3 SHARES 18.45% 9.67% 6.10%
CLASS R4 SHARES 18.74% 9.80% 6.24%
CLASS R5 SHARES 18.88% 9.98% 6.40%
CLASS R6 SHARES 19.00% 10.03% 6.43%
S&P TARGET DATE 2030 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 16.19% 9.57% 5.72%
LIPPER MIXED-ASSET TARGET 2030 FUNDS INDEX (Reflects No Deduction for Taxes) 16.97% 9.14% 5.13%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2030 Index was changed. Prior to 6/1/17, the S&P Target Date 2030 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2030 Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

XML 54 R109.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2030 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2030 Fund<br/>Class/Ticker: R2/JSMZX; R3/JSMNX; R4/JSMQX; R5/JSMIX; R6/JSMYX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund</b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 30% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 30.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2030 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2030 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2030 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2030 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2030 Funds Index, an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2030 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2030 Funds Index, an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES </b>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     18.38%   
Worst Quarter 4th quarter, 2008   -19.09%

The Fund’s year-to-date total return through 9/30/18 was 1.28%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS<br/> (For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2030 Fund | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.26%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.48%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.24%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.01%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.23% [1]
1 Year rr_ExpenseExampleYear01 $ 125
3 Years rr_ExpenseExampleYear03 392
5 Years rr_ExpenseExampleYear05 680
10 Years rr_ExpenseExampleYear10 1,499
1 Year rr_ExpenseExampleNoRedemptionYear01 125
3 Years rr_ExpenseExampleNoRedemptionYear03 392
5 Years rr_ExpenseExampleNoRedemptionYear05 680
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,499
2008 rr_AnnualReturn2008 (33.92%)
2009 rr_AnnualReturn2009 32.14%
2010 rr_AnnualReturn2010 15.97%
2011 rr_AnnualReturn2011 (4.52%)
2012 rr_AnnualReturn2012 16.68%
2013 rr_AnnualReturn2013 19.33%
2014 rr_AnnualReturn2014 7.16%
2015 rr_AnnualReturn2015 (1.78%)
2016 rr_AnnualReturn2016 5.64%
2017 rr_AnnualReturn2017 18.17%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.28%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 18.38%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.09%)
Past 1 Year rr_AverageAnnualReturnYear01 18.17%
Past 5 Years rr_AverageAnnualReturnYear05 9.41%
Past 10 Years rr_AverageAnnualReturnYear10 5.87%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2030 Fund | Class R3  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.48%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.00%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.98% [1]
1 Year rr_ExpenseExampleYear01 $ 100
3 Years rr_ExpenseExampleYear03 316
5 Years rr_ExpenseExampleYear05 551
10 Years rr_ExpenseExampleYear10 1,223
1 Year rr_ExpenseExampleNoRedemptionYear01 100
3 Years rr_ExpenseExampleNoRedemptionYear03 316
5 Years rr_ExpenseExampleNoRedemptionYear05 551
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,223
Past 1 Year rr_AverageAnnualReturnYear01 18.45%
Past 5 Years rr_AverageAnnualReturnYear05 9.67%
Past 10 Years rr_AverageAnnualReturnYear10 6.10%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2030 Fund | Class R4  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.04%
Other Expenses rr_OtherExpensesOverAssets 0.29%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.48%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.77%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.04%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.73% [1]
1 Year rr_ExpenseExampleYear01 $ 75
3 Years rr_ExpenseExampleYear03 242
5 Years rr_ExpenseExampleYear05 424
10 Years rr_ExpenseExampleYear10 950
1 Year rr_ExpenseExampleNoRedemptionYear01 75
3 Years rr_ExpenseExampleNoRedemptionYear03 242
5 Years rr_ExpenseExampleNoRedemptionYear05 424
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 950
Past 1 Year rr_AverageAnnualReturnYear01 18.74%
Past 5 Years rr_AverageAnnualReturnYear05 9.80%
Past 10 Years rr_AverageAnnualReturnYear10 6.24%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2030 Fund | Class R5  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.10%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.11%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.48%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.59%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.01%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.58% [1]
1 Year rr_ExpenseExampleYear01 $ 59
3 Years rr_ExpenseExampleYear03 188
5 Years rr_ExpenseExampleYear05 328
10 Years rr_ExpenseExampleYear10 737
1 Year rr_ExpenseExampleNoRedemptionYear01 59
3 Years rr_ExpenseExampleNoRedemptionYear03 188
5 Years rr_ExpenseExampleNoRedemptionYear05 328
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 737
Past 1 Year rr_AverageAnnualReturnYear01 18.88%
Past 5 Years rr_AverageAnnualReturnYear05 9.98%
Past 10 Years rr_AverageAnnualReturnYear10 6.40%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2030 Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.01%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.48%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.49%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.01%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.48% [1]
1 Year rr_ExpenseExampleYear01 $ 49
3 Years rr_ExpenseExampleYear03 156
5 Years rr_ExpenseExampleYear05 273
10 Years rr_ExpenseExampleYear10 615
1 Year rr_ExpenseExampleNoRedemptionYear01 49
3 Years rr_ExpenseExampleNoRedemptionYear03 156
5 Years rr_ExpenseExampleNoRedemptionYear05 273
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 615
Past 1 Year rr_AverageAnnualReturnYear01 19.00%
Past 5 Years rr_AverageAnnualReturnYear05 10.03%
Past 10 Years rr_AverageAnnualReturnYear10 6.43%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2030 Fund | Return After Taxes on Distributions | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 16.95%
Past 5 Years rr_AverageAnnualReturnYear05 8.30%
Past 10 Years rr_AverageAnnualReturnYear10 4.98%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2030 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 10.94%
Past 5 Years rr_AverageAnnualReturnYear05 7.09%
Past 10 Years rr_AverageAnnualReturnYear10 4.38%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2030 Fund | S&P TARGET DATE 2030 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 16.19% [2]
Past 5 Years rr_AverageAnnualReturnYear05 9.57% [2]
Past 10 Years rr_AverageAnnualReturnYear10 5.72% [2]
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2030 Fund | LIPPER MIXED-ASSET TARGET 2030 FUNDS INDEX (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 16.97%
Past 5 Years rr_AverageAnnualReturnYear05 9.14%
Past 10 Years rr_AverageAnnualReturnYear10 5.13%
[1] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[2] On 6/1/17, the methodology used to calculate the S&P Target Date 2030 Index was changed. Prior to 6/1/17, the S&P Target Date 2030 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2030 Index is comprised of underlying indices of securities.
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R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2035 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2035 Fund<br/>Class/Ticker: R2/SRJZX; R3/SRJPX; R4/SRJQX; R5/SRJIX; R6/SRJYX</b>
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund </b>
The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Annual Fund Operating Expenses - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2035 Fund
Class R2
Class R3
Class R4
Class R5
Class R6
Management Fees none none none none none
Distribution (Rule 12b-1) Fees 0.50% 0.25% none none none
Other Expenses 0.26% 0.27% 0.29% 0.11% 0.01%
Service Fees 0.25% 0.25% 0.25% 0.10% none
Remainder of Other Expenses 0.01% 0.02% 0.04% 0.01% 0.01%
Acquired Fund (Underlying Fund) Fees and Expenses 0.49% 0.49% 0.49% 0.49% 0.49%
Total Annual Fund Operating Expenses 1.25% 1.01% 0.78% 0.60% 0.50%
Fee Waivers and/or Expense Reimbursements [1] (0.02%) (0.03%) (0.05%) (0.02%) (0.02%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 1.23% 0.98% 0.73% 0.58% 0.48%
[1] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example</b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2035 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 125 395 684 1,510
CLASS R3 SHARES 100 319 555 1,234
CLASS R4 SHARES 75 244 428 961
CLASS R5 SHARES 59 190 333 748
CLASS R6 SHARES 49 158 278 626
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example, No Redemption - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2035 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 125 395 684 1,510
CLASS R3 SHARES 100 319 555 1,234
CLASS R4 SHARES 75 244 428 961
CLASS R5 SHARES 59 190 333 748
CLASS R6 SHARES 49 158 278 626
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 54% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2035 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2035 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2035 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2035 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2035 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
<b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES</b>
Bar Chart
Best Quarter 2nd quarter, 2009     19.23%   
Worst Quarter 4th quarter, 2008   -19.28%

The Fund’s year-to-date total return through 9/30/18 was 1.33%.
<b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017) </b>
Average Annual Total Returns - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2035 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS R2 SHARES 19.71% 10.15% 6.20%
CLASS R2 SHARES | Return After Taxes on Distributions 18.57% 9.01% 5.40%
CLASS R2 SHARES | Return After Taxes on Distributions and Sale of Fund Shares 11.78% 7.67% 4.70%
CLASS R3 SHARES 19.89% 10.38% 6.43%
CLASS R4 SHARES 20.25% 10.54% 6.60%
CLASS R5 SHARES 20.42% 10.71% 6.75%
CLASS R6 SHARES 20.54% 10.77% 6.78%
S&P TARGET DATE 2035 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 17.78% 10.29% 5.90%
LIPPER MIXED-ASSET TARGET 2035 FUNDS AVERAGE (Reflects No Deduction for Taxes) 18.39% 9.63% 5.49%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2035 Index was changed. Prior to 6/1/17, the S&P Target Date 2035 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2035 Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

XML 57 R116.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2035 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2035 Fund<br/>Class/Ticker: R2/SRJZX; R3/SRJPX; R4/SRJQX; R5/SRJIX; R6/SRJYX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 54% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 54.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example</b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2035 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2035 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2035 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2035 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2035 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2035 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2035 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES</b>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     19.23%   
Worst Quarter 4th quarter, 2008   -19.28%

The Fund’s year-to-date total return through 9/30/18 was 1.33%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017) </b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2035 Fund | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.26%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.49%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.25%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.23% [1]
1 Year rr_ExpenseExampleYear01 $ 125
3 Years rr_ExpenseExampleYear03 395
5 Years rr_ExpenseExampleYear05 684
10 Years rr_ExpenseExampleYear10 1,510
1 Year rr_ExpenseExampleNoRedemptionYear01 125
3 Years rr_ExpenseExampleNoRedemptionYear03 395
5 Years rr_ExpenseExampleNoRedemptionYear05 684
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,510
2008 rr_AnnualReturn2008 (34.76%)
2009 rr_AnnualReturn2009 33.33%
2010 rr_AnnualReturn2010 16.14%
2011 rr_AnnualReturn2011 (5.22%)
2012 rr_AnnualReturn2012 17.60%
2013 rr_AnnualReturn2013 21.64%
2014 rr_AnnualReturn2014 7.24%
2015 rr_AnnualReturn2015 (1.97%)
2016 rr_AnnualReturn2016 5.92%
2017 rr_AnnualReturn2017 19.71%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.33%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 19.23%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.28%)
Past 1 Year rr_AverageAnnualReturnYear01 19.71%
Past 5 Years rr_AverageAnnualReturnYear05 10.15%
Past 10 Years rr_AverageAnnualReturnYear10 6.20%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2035 Fund | Class R3  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.49%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.01%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.03%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.98% [1]
1 Year rr_ExpenseExampleYear01 $ 100
3 Years rr_ExpenseExampleYear03 319
5 Years rr_ExpenseExampleYear05 555
10 Years rr_ExpenseExampleYear10 1,234
1 Year rr_ExpenseExampleNoRedemptionYear01 100
3 Years rr_ExpenseExampleNoRedemptionYear03 319
5 Years rr_ExpenseExampleNoRedemptionYear05 555
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,234
Past 1 Year rr_AverageAnnualReturnYear01 19.89%
Past 5 Years rr_AverageAnnualReturnYear05 10.38%
Past 10 Years rr_AverageAnnualReturnYear10 6.43%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2035 Fund | Class R4  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.04%
Other Expenses rr_OtherExpensesOverAssets 0.29%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.49%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.78%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.05%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.73% [1]
1 Year rr_ExpenseExampleYear01 $ 75
3 Years rr_ExpenseExampleYear03 244
5 Years rr_ExpenseExampleYear05 428
10 Years rr_ExpenseExampleYear10 961
1 Year rr_ExpenseExampleNoRedemptionYear01 75
3 Years rr_ExpenseExampleNoRedemptionYear03 244
5 Years rr_ExpenseExampleNoRedemptionYear05 428
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 961
Past 1 Year rr_AverageAnnualReturnYear01 20.25%
Past 5 Years rr_AverageAnnualReturnYear05 10.54%
Past 10 Years rr_AverageAnnualReturnYear10 6.60%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2035 Fund | Class R5  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.10%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.11%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.49%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.60%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.58% [1]
1 Year rr_ExpenseExampleYear01 $ 59
3 Years rr_ExpenseExampleYear03 190
5 Years rr_ExpenseExampleYear05 333
10 Years rr_ExpenseExampleYear10 748
1 Year rr_ExpenseExampleNoRedemptionYear01 59
3 Years rr_ExpenseExampleNoRedemptionYear03 190
5 Years rr_ExpenseExampleNoRedemptionYear05 333
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 748
Past 1 Year rr_AverageAnnualReturnYear01 20.42%
Past 5 Years rr_AverageAnnualReturnYear05 10.71%
Past 10 Years rr_AverageAnnualReturnYear10 6.75%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2035 Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.01%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.49%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.50%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.48% [1]
1 Year rr_ExpenseExampleYear01 $ 49
3 Years rr_ExpenseExampleYear03 158
5 Years rr_ExpenseExampleYear05 278
10 Years rr_ExpenseExampleYear10 626
1 Year rr_ExpenseExampleNoRedemptionYear01 49
3 Years rr_ExpenseExampleNoRedemptionYear03 158
5 Years rr_ExpenseExampleNoRedemptionYear05 278
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 626
Past 1 Year rr_AverageAnnualReturnYear01 20.54%
Past 5 Years rr_AverageAnnualReturnYear05 10.77%
Past 10 Years rr_AverageAnnualReturnYear10 6.78%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2035 Fund | Return After Taxes on Distributions | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 18.57%
Past 5 Years rr_AverageAnnualReturnYear05 9.01%
Past 10 Years rr_AverageAnnualReturnYear10 5.40%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2035 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 11.78%
Past 5 Years rr_AverageAnnualReturnYear05 7.67%
Past 10 Years rr_AverageAnnualReturnYear10 4.70%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2035 Fund | S&P TARGET DATE 2035 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 17.78% [2]
Past 5 Years rr_AverageAnnualReturnYear05 10.29% [2]
Past 10 Years rr_AverageAnnualReturnYear10 5.90% [2]
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2035 Fund | LIPPER MIXED-ASSET TARGET 2035 FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 18.39%
Past 5 Years rr_AverageAnnualReturnYear05 9.63%
Past 10 Years rr_AverageAnnualReturnYear10 5.49%
[1] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[2] On 6/1/17, the methodology used to calculate the S&P Target Date 2035 Index was changed. Prior to 6/1/17, the S&P Target Date 2035 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2035 Index is comprised of underlying indices of securities.
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R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2040 Fund
<b>JPMorgan SmartRetirement 2040 Fund</b> <br/><b>Class/Ticker: R2/SMTZX; R3/SMTPX; R4/SMTQX; R5/SMTIX; R6/SMTYX </b>
<b>What is the goal of the Fund?</b>
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.
<b>Fees and Expenses of the Fund </b>
The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Annual Fund Operating Expenses - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2040 Fund
Class R2
Class R3
Class R4
Class R5
Class R6
Management Fees none none none none none
Distribution (Rule 12b-1) Fees 0.50% 0.25% none none none
Other Expenses 0.27% 0.27% 0.28% 0.11% 0.01%
Service Fees 0.25% 0.25% 0.25% 0.10% none
Remainder of Other Expenses 0.02% 0.02% 0.03% 0.01% 0.01%
Acquired Fund (Underlying Fund) Fees and Expenses 0.50% 0.50% 0.50% 0.50% 0.50%
Total Annual Fund Operating Expenses 1.27% 1.02% 0.78% 0.61% 0.51%
Fee Waivers and/or Expense Reimbursements [1] (0.03%) (0.03%) (0.04%) (0.02%) (0.02%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 1.24% 0.99% 0.74% 0.59% 0.49%
[1] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2040 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 126 400 694 1,531
CLASS R3 SHARES 101 322 560 1,245
CLASS R4 SHARES 76 245 429 962
CLASS R5 SHARES 60 193 338 760
CLASS R6 SHARES 50 162 283 639
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2040 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 126 400 694 1,531
CLASS R3 SHARES 101 322 560 1,245
CLASS R4 SHARES 76 245 429 962
CLASS R5 SHARES 60 193 338 760
CLASS R6 SHARES 50 162 283 639
<b>Portfolio Turnover</b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 29% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2040 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2040 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2040 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance</b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2040 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2040 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
<b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES</b>
Bar Chart
Best Quarter 2nd quarter, 2009     19.18%   
Worst Quarter 4th quarter, 2008   -19.51%

The Fund’s year-to-date total return through 9/30/18 was 1.64%.
<b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2040 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS R2 SHARES 21.12% 10.61% 6.40%
CLASS R2 SHARES | Return After Taxes on Distributions 19.95% 9.52% 5.55%
CLASS R2 SHARES | Return After Taxes on Distributions and Sale of Fund Shares 12.67% 8.10% 4.86%
CLASS R3 SHARES 21.35% 10.87% 6.63%
CLASS R4 SHARES 21.71% 11.02% 6.78%
CLASS R5 SHARES 21.83% 11.17% 6.95%
CLASS R6 SHARES 21.95% 11.23% 6.97%
S&P TARGET DATE 2040 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 18.87% 10.78% 6.03%
LIPPER MIXED-ASSET TARGET 2040 FUNDS AVERAGE (Reflects No Deduction for Taxes) 19.23% 9.75% 5.37%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2040 Index was changed. Prior to 6/1/17, the S&P Target Date 2040 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2040 Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 60 R123.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2040 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement 2040 Fund</b> <br/><b>Class/Ticker: R2/SMTZX; R3/SMTPX; R4/SMTQX; R5/SMTIX; R6/SMTYX </b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund?</b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover</b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 29% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 29.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2040 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2040 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2040 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance</b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2040 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2040 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2040 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2040 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES</b>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     19.18%   
Worst Quarter 4th quarter, 2008   -19.51%

The Fund’s year-to-date total return through 9/30/18 was 1.64%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2040 Fund | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.27%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.03%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.24% [1]
1 Year rr_ExpenseExampleYear01 $ 126
3 Years rr_ExpenseExampleYear03 400
5 Years rr_ExpenseExampleYear05 694
10 Years rr_ExpenseExampleYear10 1,531
1 Year rr_ExpenseExampleNoRedemptionYear01 126
3 Years rr_ExpenseExampleNoRedemptionYear03 400
5 Years rr_ExpenseExampleNoRedemptionYear05 694
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,531
2008 rr_AnnualReturn2008 (34.82%)
2009 rr_AnnualReturn2009 33.11%
2010 rr_AnnualReturn2010 16.30%
2011 rr_AnnualReturn2011 (5.32%)
2012 rr_AnnualReturn2012 17.68%
2013 rr_AnnualReturn2013 22.44%
2014 rr_AnnualReturn2014 7.37%
2015 rr_AnnualReturn2015 (2.13%)
2016 rr_AnnualReturn2016 6.25%
2017 rr_AnnualReturn2017 21.12%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.64%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 19.18%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.51%)
Past 1 Year rr_AverageAnnualReturnYear01 21.12%
Past 5 Years rr_AverageAnnualReturnYear05 10.61%
Past 10 Years rr_AverageAnnualReturnYear10 6.40%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2040 Fund | Class R3  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.02%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.03%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.99% [1]
1 Year rr_ExpenseExampleYear01 $ 101
3 Years rr_ExpenseExampleYear03 322
5 Years rr_ExpenseExampleYear05 560
10 Years rr_ExpenseExampleYear10 1,245
1 Year rr_ExpenseExampleNoRedemptionYear01 101
3 Years rr_ExpenseExampleNoRedemptionYear03 322
5 Years rr_ExpenseExampleNoRedemptionYear05 560
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,245
Past 1 Year rr_AverageAnnualReturnYear01 21.35%
Past 5 Years rr_AverageAnnualReturnYear05 10.87%
Past 10 Years rr_AverageAnnualReturnYear10 6.63%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2040 Fund | Class R4  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.03%
Other Expenses rr_OtherExpensesOverAssets 0.28%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.78%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.04%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.74% [1]
1 Year rr_ExpenseExampleYear01 $ 76
3 Years rr_ExpenseExampleYear03 245
5 Years rr_ExpenseExampleYear05 429
10 Years rr_ExpenseExampleYear10 962
1 Year rr_ExpenseExampleNoRedemptionYear01 76
3 Years rr_ExpenseExampleNoRedemptionYear03 245
5 Years rr_ExpenseExampleNoRedemptionYear05 429
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 962
Past 1 Year rr_AverageAnnualReturnYear01 21.71%
Past 5 Years rr_AverageAnnualReturnYear05 11.02%
Past 10 Years rr_AverageAnnualReturnYear10 6.78%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2040 Fund | Class R5  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.10%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.11%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.61%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.59% [1]
1 Year rr_ExpenseExampleYear01 $ 60
3 Years rr_ExpenseExampleYear03 193
5 Years rr_ExpenseExampleYear05 338
10 Years rr_ExpenseExampleYear10 760
1 Year rr_ExpenseExampleNoRedemptionYear01 60
3 Years rr_ExpenseExampleNoRedemptionYear03 193
5 Years rr_ExpenseExampleNoRedemptionYear05 338
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 760
Past 1 Year rr_AverageAnnualReturnYear01 21.83%
Past 5 Years rr_AverageAnnualReturnYear05 11.17%
Past 10 Years rr_AverageAnnualReturnYear10 6.95%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2040 Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.01%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.51%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.49% [1]
1 Year rr_ExpenseExampleYear01 $ 50
3 Years rr_ExpenseExampleYear03 162
5 Years rr_ExpenseExampleYear05 283
10 Years rr_ExpenseExampleYear10 639
1 Year rr_ExpenseExampleNoRedemptionYear01 50
3 Years rr_ExpenseExampleNoRedemptionYear03 162
5 Years rr_ExpenseExampleNoRedemptionYear05 283
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 639
Past 1 Year rr_AverageAnnualReturnYear01 21.95%
Past 5 Years rr_AverageAnnualReturnYear05 11.23%
Past 10 Years rr_AverageAnnualReturnYear10 6.97%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2040 Fund | Return After Taxes on Distributions | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 19.95%
Past 5 Years rr_AverageAnnualReturnYear05 9.52%
Past 10 Years rr_AverageAnnualReturnYear10 5.55%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2040 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 12.67%
Past 5 Years rr_AverageAnnualReturnYear05 8.10%
Past 10 Years rr_AverageAnnualReturnYear10 4.86%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2040 Fund | S&P TARGET DATE 2040 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 18.87% [2]
Past 5 Years rr_AverageAnnualReturnYear05 10.78% [2]
Past 10 Years rr_AverageAnnualReturnYear10 6.03% [2]
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2040 Fund | LIPPER MIXED-ASSET TARGET 2040 FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 19.23%
Past 5 Years rr_AverageAnnualReturnYear05 9.75%
Past 10 Years rr_AverageAnnualReturnYear10 5.37%
[1] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[2] On 6/1/17, the methodology used to calculate the S&P Target Date 2040 Index was changed. Prior to 6/1/17, the S&P Target Date 2040 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2040 Index is comprised of underlying indices of securities.
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R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2045 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2045 Fund <br/>Class/Ticker: R2/JSAZX; R3/JSAPX; R4/JSAQX; R5/JSAIX; R6/JSAYX</b>
<b>What is the goal of the Fund?</b>
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.
<b>Fees and Expenses of the Fund</b>
The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Annual Fund Operating Expenses - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2045 Fund
Class R2
Class R3
Class R4
Class R5
Class R6
Management Fees none none none none none
Distribution (Rule 12b-1) Fees 0.50% 0.25% none none none
Other Expenses 0.27% 0.28% 0.30% 0.11% 0.02%
Service Fees 0.25% 0.25% 0.25% 0.10% none
Remainder of Other Expenses 0.02% 0.03% 0.05% 0.01% 0.02%
Acquired Fund (Underlying Fund) Fees and Expenses 0.50% 0.50% 0.50% 0.50% 0.50%
Total Annual Fund Operating Expenses 1.27% 1.03% 0.80% 0.61% 0.52%
Fee Waivers and/or Expense Reimbursements [1] (0.02%) (0.03%) (0.05%) (0.01%) (0.02%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 1.25% 1.00% 0.75% 0.60% 0.50%
[1] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example</b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2045 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 127 401 695 1,532
CLASS R3 SHARES 102 325 566 1,257
CLASS R4 SHARES 77 250 439 985
CLASS R5 SHARES 61 194 339 761
CLASS R6 SHARES 51 165 289 651
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2045 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 127 401 695 1,532
CLASS R3 SHARES 102 325 566 1,257
CLASS R4 SHARES 77 250 439 985
CLASS R5 SHARES 61 194 339 761
CLASS R6 SHARES 51 165 289 651
<b>Portfolio Turnover</b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 26% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies?</b>
The JPMorgan SmartRetirement® 2045 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2045 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.



Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2045 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2045 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2045 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
<b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES </b>
Bar Chart
Best Quarter 2nd quarter, 2009     19.15%   
Worst Quarter 4th quarter, 2008   -19.29%

The Fund’s year-to-date total return through 9/30/18 was 1.80%.
<b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2045 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS R2 SHARES 21.34% 10.64% 6.62%
CLASS R2 SHARES | Return After Taxes on Distributions 20.22% 9.52% 5.80%
CLASS R2 SHARES | Return After Taxes on Distributions and Sale of Fund Shares 12.73% 8.09% 5.04%
CLASS R3 SHARES 21.59% 10.90% 6.85%
CLASS R4 SHARES 21.88% 11.05% 7.00%
CLASS R5 SHARES 22.05% 11.22% 7.16%
CLASS R6 SHARES 22.17% 11.27% 7.19%
S&P TARGET DATE 2045 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 19.56% 11.15% 6.06%
LIPPER MIXED-ASSET TARGET 2045 FUNDS AVERAGE (Reflects No Deduction for Taxes) 20.35% 10.42% 5.76%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2045 Index was changed. Prior to 6/1/17, the S&P Target Date 2045 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2045 Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who holds their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 63 R130.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2045 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2045 Fund <br/>Class/Ticker: R2/JSAZX; R3/JSAPX; R4/JSAQX; R5/JSAIX; R6/JSAYX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund?</b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund</b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover</b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 26% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 26.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example</b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies?</b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2045 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2045 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.



Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2045 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2045 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2045 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2045 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2045 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES </b>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     19.15%   
Worst Quarter 4th quarter, 2008   -19.29%

The Fund’s year-to-date total return through 9/30/18 was 1.80%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who holds their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who holds their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2045 Fund | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.27%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.25% [1]
1 Year rr_ExpenseExampleYear01 $ 127
3 Years rr_ExpenseExampleYear03 401
5 Years rr_ExpenseExampleYear05 695
10 Years rr_ExpenseExampleYear10 1,532
1 Year rr_ExpenseExampleNoRedemptionYear01 127
3 Years rr_ExpenseExampleNoRedemptionYear03 401
5 Years rr_ExpenseExampleNoRedemptionYear05 695
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,532
2008 rr_AnnualReturn2008 (33.80%)
2009 rr_AnnualReturn2009 33.46%
2010 rr_AnnualReturn2010 16.02%
2011 rr_AnnualReturn2011 (5.25%)
2012 rr_AnnualReturn2012 17.84%
2013 rr_AnnualReturn2013 22.37%
2014 rr_AnnualReturn2014 7.29%
2015 rr_AnnualReturn2015 (2.05%)
2016 rr_AnnualReturn2016 6.26%
2017 rr_AnnualReturn2017 21.34%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund's year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.80%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter </b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 19.15%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.29%)
Past 1 Year rr_AverageAnnualReturnYear01 21.34%
Past 5 Years rr_AverageAnnualReturnYear05 10.64%
Past 10 Years rr_AverageAnnualReturnYear10 6.62%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2045 Fund | Class R3  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.03%
Other Expenses rr_OtherExpensesOverAssets 0.28%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.03%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.03%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.00% [1]
1 Year rr_ExpenseExampleYear01 $ 102
3 Years rr_ExpenseExampleYear03 325
5 Years rr_ExpenseExampleYear05 566
10 Years rr_ExpenseExampleYear10 1,257
1 Year rr_ExpenseExampleNoRedemptionYear01 102
3 Years rr_ExpenseExampleNoRedemptionYear03 325
5 Years rr_ExpenseExampleNoRedemptionYear05 566
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,257
Past 1 Year rr_AverageAnnualReturnYear01 21.59%
Past 5 Years rr_AverageAnnualReturnYear05 10.90%
Past 10 Years rr_AverageAnnualReturnYear10 6.85%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2045 Fund | Class R4  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.05%
Other Expenses rr_OtherExpensesOverAssets 0.30%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.80%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.05%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.75% [1]
1 Year rr_ExpenseExampleYear01 $ 77
3 Years rr_ExpenseExampleYear03 250
5 Years rr_ExpenseExampleYear05 439
10 Years rr_ExpenseExampleYear10 985
1 Year rr_ExpenseExampleNoRedemptionYear01 77
3 Years rr_ExpenseExampleNoRedemptionYear03 250
5 Years rr_ExpenseExampleNoRedemptionYear05 439
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 985
Past 1 Year rr_AverageAnnualReturnYear01 21.88%
Past 5 Years rr_AverageAnnualReturnYear05 11.05%
Past 10 Years rr_AverageAnnualReturnYear10 7.00%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2045 Fund | Class R5  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.10%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.01%
Other Expenses rr_OtherExpensesOverAssets 0.11%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.61%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.01%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.60% [1]
1 Year rr_ExpenseExampleYear01 $ 61
3 Years rr_ExpenseExampleYear03 194
5 Years rr_ExpenseExampleYear05 339
10 Years rr_ExpenseExampleYear10 761
1 Year rr_ExpenseExampleNoRedemptionYear01 61
3 Years rr_ExpenseExampleNoRedemptionYear03 194
5 Years rr_ExpenseExampleNoRedemptionYear05 339
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 761
Past 1 Year rr_AverageAnnualReturnYear01 22.05%
Past 5 Years rr_AverageAnnualReturnYear05 11.22%
Past 10 Years rr_AverageAnnualReturnYear10 7.16%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2045 Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.02%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.52%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.50% [1]
1 Year rr_ExpenseExampleYear01 $ 51
3 Years rr_ExpenseExampleYear03 165
5 Years rr_ExpenseExampleYear05 289
10 Years rr_ExpenseExampleYear10 651
1 Year rr_ExpenseExampleNoRedemptionYear01 51
3 Years rr_ExpenseExampleNoRedemptionYear03 165
5 Years rr_ExpenseExampleNoRedemptionYear05 289
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 651
Past 1 Year rr_AverageAnnualReturnYear01 22.17%
Past 5 Years rr_AverageAnnualReturnYear05 11.27%
Past 10 Years rr_AverageAnnualReturnYear10 7.19%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2045 Fund | Return After Taxes on Distributions | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.22%
Past 5 Years rr_AverageAnnualReturnYear05 9.52%
Past 10 Years rr_AverageAnnualReturnYear10 5.80%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2045 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 12.73%
Past 5 Years rr_AverageAnnualReturnYear05 8.09%
Past 10 Years rr_AverageAnnualReturnYear10 5.04%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2045 Fund | S&P TARGET DATE 2045 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 19.56% [2]
Past 5 Years rr_AverageAnnualReturnYear05 11.15% [2]
Past 10 Years rr_AverageAnnualReturnYear10 6.06% [2]
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2045 Fund | LIPPER MIXED-ASSET TARGET 2045 FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.35%
Past 5 Years rr_AverageAnnualReturnYear05 10.42%
Past 10 Years rr_AverageAnnualReturnYear10 5.76%
[1] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[2] On 6/1/17, the methodology used to calculate the S&P Target Date 2045 Index was changed. Prior to 6/1/17, the S&P Target Date 2045 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2045 Index is comprised of underlying indices of securities.
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R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2050 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2050 Fund <br/>Class/Ticker: R2/JTSZX; R3/JTSPX; R4/JTSQX; R5/JTSIX; R6/JTSYX</b>
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund</b>
The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value <br/>of your investment)</b>
Annual Fund Operating Expenses - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2050 Fund
Class R2
Class R3
Class R4
Class R5
Class R6
Management Fees none none none none none
Distribution (Rule 12b-1) Fees 0.50% 0.25% none none none
Other Expenses 0.27% 0.27% 0.28% 0.12% 0.02%
Service Fees 0.25% 0.25% 0.25% 0.10% none
Remainder of Other Expenses 0.02% 0.02% 0.03% 0.02% 0.02%
Acquired Fund (Underlying Fund) Fees and Expenses 0.50% 0.50% 0.50% 0.50% 0.50%
Total Annual Fund Operating Expenses 1.27% 1.02% 0.78% 0.62% 0.52%
Fee Waivers and/or Expense Reimbursements [1] (0.03%) (0.03%) (0.04%) (0.03%) (0.03%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 1.24% 0.99% 0.74% 0.59% 0.49%
[1] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example</b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2050 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 126 400 694 1,531
CLASS R3 SHARES 101 322 560 1,245
CLASS R4 SHARES 76 245 429 962
CLASS R5 SHARES 60 196 343 771
CLASS R6 SHARES 50 164 288 650
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2050 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 126 400 694 1,531
CLASS R3 SHARES 101 322 560 1,245
CLASS R4 SHARES 76 245 429 962
CLASS R5 SHARES 60 196 343 771
CLASS R6 SHARES 50 164 288 650
<b>Portfolio Turnover</b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 25% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies?</b>
The JPMorgan SmartRetirement® 2050 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2050 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.



Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2050 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2050 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2050 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
<b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES </b>
Bar Chart
Best Quarter 2nd quarter, 2009     18.98%   
Worst Quarter 4th quarter, 2008   -19.17%

The Fund’s year-to-date total return through 9/30/18 was 1.81%.
<b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2050 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS R2 SHARES 21.27% 10.63% 6.61%
CLASS R2 SHARES | Return After Taxes on Distributions 20.16% 9.50% 5.76%
CLASS R2 SHARES | Return After Taxes on Distributions and Sale of Fund Shares 12.68% 8.08% 5.02%
CLASS R3 SHARES 21.53% 10.89% 6.84%
CLASS R4 SHARES 21.85% 11.05% 7.00%
CLASS R5 SHARES 22.08% 11.21% 7.16%
CLASS R6 SHARES 22.13% 11.27% 7.19%
S&P TARGET DATE 2050 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 20.18% 11.48% 6.22%
LIPPER MIXED-ASSET TARGET 2050 FUNDS AVERAGE (Reflects No Deduction for Taxes) 20.34% 10.23% 5.56%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2050 Index was changed. Prior to 6/1/17, the S&P Target Date 2050 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2050 Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class R6 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

XML 66 R137.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2050 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2050 Fund <br/>Class/Ticker: R2/JTSZX; R3/JTSPX; R4/JTSQX; R5/JTSIX; R6/JTSYX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund</b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value <br/>of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover</b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 25% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 25.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example</b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies?</b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2050 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2050 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.



Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2050 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2050 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2050 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2050 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2050 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES </b>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     18.98%   
Worst Quarter 4th quarter, 2008   -19.17%

The Fund’s year-to-date total return through 9/30/18 was 1.81%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus The performance of Class R2 Shares and Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R2 Shares and Class R3 Shares. The actual returns of Class R2 Shares and Class R3 Shares would have been different than those shown because Class R2 Shares and Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on the investor’s tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class R6 Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class R6 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2050 Fund | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.27%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.03%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.24% [1]
1 Year rr_ExpenseExampleYear01 $ 126
3 Years rr_ExpenseExampleYear03 400
5 Years rr_ExpenseExampleYear05 694
10 Years rr_ExpenseExampleYear10 1,531
1 Year rr_ExpenseExampleNoRedemptionYear01 126
3 Years rr_ExpenseExampleNoRedemptionYear03 400
5 Years rr_ExpenseExampleNoRedemptionYear05 694
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,531
2008 rr_AnnualReturn2008 (33.78%)
2009 rr_AnnualReturn2009 33.07%
2010 rr_AnnualReturn2010 16.50%
2011 rr_AnnualReturn2011 (5.30%)
2012 rr_AnnualReturn2012 17.80%
2013 rr_AnnualReturn2013 22.38%
2014 rr_AnnualReturn2014 7.28%
2015 rr_AnnualReturn2015 (2.05%)
2016 rr_AnnualReturn2016 6.25%
2017 rr_AnnualReturn2017 21.27%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.81%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 18.98%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.17%)
Past 1 Year rr_AverageAnnualReturnYear01 21.27%
Past 5 Years rr_AverageAnnualReturnYear05 10.63%
Past 10 Years rr_AverageAnnualReturnYear10 6.61%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2050 Fund | Class R3  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.02%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.03%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.99% [1]
1 Year rr_ExpenseExampleYear01 $ 101
3 Years rr_ExpenseExampleYear03 322
5 Years rr_ExpenseExampleYear05 560
10 Years rr_ExpenseExampleYear10 1,245
1 Year rr_ExpenseExampleNoRedemptionYear01 101
3 Years rr_ExpenseExampleNoRedemptionYear03 322
5 Years rr_ExpenseExampleNoRedemptionYear05 560
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,245
Past 1 Year rr_AverageAnnualReturnYear01 21.53%
Past 5 Years rr_AverageAnnualReturnYear05 10.89%
Past 10 Years rr_AverageAnnualReturnYear10 6.84%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2050 Fund | Class R4  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.03%
Other Expenses rr_OtherExpensesOverAssets 0.28%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.78%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.04%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.74% [1]
1 Year rr_ExpenseExampleYear01 $ 76
3 Years rr_ExpenseExampleYear03 245
5 Years rr_ExpenseExampleYear05 429
10 Years rr_ExpenseExampleYear10 962
1 Year rr_ExpenseExampleNoRedemptionYear01 76
3 Years rr_ExpenseExampleNoRedemptionYear03 245
5 Years rr_ExpenseExampleNoRedemptionYear05 429
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 962
Past 1 Year rr_AverageAnnualReturnYear01 21.85%
Past 5 Years rr_AverageAnnualReturnYear05 11.05%
Past 10 Years rr_AverageAnnualReturnYear10 7.00%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2050 Fund | Class R5  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.10%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.12%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.62%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.03%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.59% [1]
1 Year rr_ExpenseExampleYear01 $ 60
3 Years rr_ExpenseExampleYear03 196
5 Years rr_ExpenseExampleYear05 343
10 Years rr_ExpenseExampleYear10 771
1 Year rr_ExpenseExampleNoRedemptionYear01 60
3 Years rr_ExpenseExampleNoRedemptionYear03 196
5 Years rr_ExpenseExampleNoRedemptionYear05 343
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 771
Past 1 Year rr_AverageAnnualReturnYear01 22.08%
Past 5 Years rr_AverageAnnualReturnYear05 11.21%
Past 10 Years rr_AverageAnnualReturnYear10 7.16%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2050 Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.02%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.52%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.03%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.49% [1]
1 Year rr_ExpenseExampleYear01 $ 50
3 Years rr_ExpenseExampleYear03 164
5 Years rr_ExpenseExampleYear05 288
10 Years rr_ExpenseExampleYear10 650
1 Year rr_ExpenseExampleNoRedemptionYear01 50
3 Years rr_ExpenseExampleNoRedemptionYear03 164
5 Years rr_ExpenseExampleNoRedemptionYear05 288
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 650
Past 1 Year rr_AverageAnnualReturnYear01 22.13%
Past 5 Years rr_AverageAnnualReturnYear05 11.27%
Past 10 Years rr_AverageAnnualReturnYear10 7.19%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2050 Fund | Return After Taxes on Distributions | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.16%
Past 5 Years rr_AverageAnnualReturnYear05 9.50%
Past 10 Years rr_AverageAnnualReturnYear10 5.76%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2050 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 12.68%
Past 5 Years rr_AverageAnnualReturnYear05 8.08%
Past 10 Years rr_AverageAnnualReturnYear10 5.02%
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2050 Fund | S&P TARGET DATE 2050 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.18% [2]
Past 5 Years rr_AverageAnnualReturnYear05 11.48% [2]
Past 10 Years rr_AverageAnnualReturnYear10 6.22% [2]
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2050 Fund | LIPPER MIXED-ASSET TARGET 2050 FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.34%
Past 5 Years rr_AverageAnnualReturnYear05 10.23%
Past 10 Years rr_AverageAnnualReturnYear10 5.56%
[1] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[2] On 6/1/17, the methodology used to calculate the S&P Target Date 2050 Index was changed. Prior to 6/1/17, the S&P Target Date 2050 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2050 Index is comprised of underlying indices of securities.
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R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2055 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2055 Fund</b> <br/><b>Class/Ticker: R2/JFFRX; R3/JFFPX; R4/JFFQX; R5/JFFIX; R6/JFFYX</b>
<b>What is the goal of the Fund?</b>
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.
<b>Fees and Expenses of the Fund</b>
The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES<br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Annual Fund Operating Expenses - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2055 Fund
Class R2
Class R3
Class R4
Class R5
Class R6
Management Fees none none none none none
Distribution (Rule 12b-1) Fees 0.50% 0.25% none none none
Other Expenses 0.29% 0.32% 0.33% 0.13% 0.04%
Service Fees 0.25% 0.25% 0.25% 0.10% none
Remainder of Other Expenses 0.04% 0.07% 0.08% 0.03% 0.04%
Acquired Fund (Underlying Fund) Fees and Expenses 0.50% 0.50% 0.50% 0.50% 0.50%
Total Annual Fund Operating Expenses 1.29% 1.07% 0.83% 0.63% 0.54%
Fee Waivers and/or Expense Reimbursements [1] (0.05%) (0.08%) (0.09%) (0.04%) (0.05%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 1.24% 0.99% 0.74% 0.59% 0.49%
[1] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example</b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2055 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 126 404 703 1,552
CLASS R3 SHARES 101 332 582 1,298
CLASS R4 SHARES 76 256 452 1,017
CLASS R5 SHARES 60 198 347 783
CLASS R6 SHARES 50 168 297 672
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2055 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 126 404 703 1,552
CLASS R3 SHARES 101 332 582 1,298
CLASS R4 SHARES 76 256 452 1,017
CLASS R5 SHARES 60 198 347 783
CLASS R6 SHARES 50 168 297 672
<b>Portfolio Turnover</b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 21% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2055 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2055 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2055 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITs are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year over the past five calendar years. The table shows the average annual total returns for the past one year, five years and life of the Fund. It compares that performance to the S&P Target Date 2055 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R3 Shares. The actual returns of Class R3 Shares would have been different than those shown because Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
<b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES </b>
Bar Chart
Best Quarter 4th quarter, 2013     7.47%   
Worst Quarter 3rd quarter, 2015   -7.76%

The Fund’s year-to-date total return through 9/30/18 was 1.76%.
<b>AVERAGE ANNUAL TOTAL RETURNS<br/> (For periods ended December 31, 2017)</b>
Average Annual Total Returns - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2055 Fund
Past 1 Year
Past 5 Years
Life of Fund
Inception Date
CLASS R2 SHARES 21.29% 10.66% 10.90% Jan. 31, 2012
CLASS R2 SHARES | Return After Taxes on Distributions 20.29% 9.77% 10.08% Jan. 31, 2012
CLASS R2 SHARES | Return After Taxes on Distributions and Sale of Fund Shares 12.59% 8.18% 8.48% Jan. 31, 2012
CLASS R3 SHARES 21.50% 10.92% 11.15% Jan. 31, 2012
CLASS R4 SHARES 21.86% 11.08% 11.30% Jan. 31, 2012
CLASS R5 SHARES 22.01% 11.24% 11.46% Jan. 31, 2012
CLASS R6 SHARES 22.12% 11.30% 11.51% Jan. 31, 2012
S&P TARGET DATE 2055 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 20.47% 11.70% 11.64%  
LIPPER MIXED-ASSET TARGET 2055+ FUNDS AVERAGE (Reflects No Deduction for Taxes) 20.99% 10.85% 10.89%  
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2055 Index was changed. Prior to 6/1/17, the S&P Target Date 2055 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2055 Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 69 R144.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2055 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2055 Fund</b> <br/><b>Class/Ticker: R2/JFFRX; R3/JFFPX; R4/JFFQX; R5/JFFIX; R6/JFFYX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund?</b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund</b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES<br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover</b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 21% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 21.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example</b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2055 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2055 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2055 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITs are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year over the past five calendar years. The table shows the average annual total returns for the past one year, five years and life of the Fund. It compares that performance to the S&P Target Date 2055 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. The performance of Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R3 Shares. The actual returns of Class R3 Shares would have been different than those shown because Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. The performance of Class R6 Shares is based on the performance of Class R5 Shares prior to the inception of Class R6 Shares. The actual returns of Class R6 Shares would have been different than those shown because Class R6 Shares have different expenses than Class R5 Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class R2 Shares has varied from year to year over the past five calendar years. The table shows the average annual total returns for the past one year, five years and life of the Fund.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2055 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES </b>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 4th quarter, 2013     7.47%   
Worst Quarter 3rd quarter, 2015   -7.76%

The Fund’s year-to-date total return through 9/30/18 was 1.76%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus The performance of Class R3 Shares is based on the performance of Class A Shares (which are not offered in this prospectus) prior to the inception of Class R3 Shares. The actual returns of Class R3 Shares would have been different than those shown because Class R3 Shares have different expenses than Class A Shares. The performance of Class R4 Shares is based on the performance of Class I Shares (which are not offered in this prospectus) prior to the inception of Class R4 Shares. The actual returns of Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS<br/> (For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2055 Fund | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.04%
Other Expenses rr_OtherExpensesOverAssets 0.29%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.29%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.05%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.24% [1]
1 Year rr_ExpenseExampleYear01 $ 126
3 Years rr_ExpenseExampleYear03 404
5 Years rr_ExpenseExampleYear05 703
10 Years rr_ExpenseExampleYear10 1,552
1 Year rr_ExpenseExampleNoRedemptionYear01 126
3 Years rr_ExpenseExampleNoRedemptionYear03 404
5 Years rr_ExpenseExampleNoRedemptionYear05 703
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,552
2013 rr_AnnualReturn2013 22.46%
2014 rr_AnnualReturn2014 7.36%
2015 rr_AnnualReturn2015 (2.05%)
2016 rr_AnnualReturn2016 6.25%
2017 rr_AnnualReturn2017 21.29%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.76%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2013
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 7.47%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2015
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (7.76%)
Past 1 Year rr_AverageAnnualReturnYear01 21.29%
Past 5 Years rr_AverageAnnualReturnYear05 10.66%
Life of Fund rr_AverageAnnualReturnSinceInception 10.90%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 31, 2012
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2055 Fund | Class R3  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.07%
Other Expenses rr_OtherExpensesOverAssets 0.32%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.07%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.08%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.99% [1]
1 Year rr_ExpenseExampleYear01 $ 101
3 Years rr_ExpenseExampleYear03 332
5 Years rr_ExpenseExampleYear05 582
10 Years rr_ExpenseExampleYear10 1,298
1 Year rr_ExpenseExampleNoRedemptionYear01 101
3 Years rr_ExpenseExampleNoRedemptionYear03 332
5 Years rr_ExpenseExampleNoRedemptionYear05 582
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,298
Past 1 Year rr_AverageAnnualReturnYear01 21.50%
Past 5 Years rr_AverageAnnualReturnYear05 10.92%
Life of Fund rr_AverageAnnualReturnSinceInception 11.15%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 31, 2012
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2055 Fund | Class R4  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.08%
Other Expenses rr_OtherExpensesOverAssets 0.33%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.83%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.09%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.74% [1]
1 Year rr_ExpenseExampleYear01 $ 76
3 Years rr_ExpenseExampleYear03 256
5 Years rr_ExpenseExampleYear05 452
10 Years rr_ExpenseExampleYear10 1,017
1 Year rr_ExpenseExampleNoRedemptionYear01 76
3 Years rr_ExpenseExampleNoRedemptionYear03 256
5 Years rr_ExpenseExampleNoRedemptionYear05 452
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,017
Past 1 Year rr_AverageAnnualReturnYear01 21.86%
Past 5 Years rr_AverageAnnualReturnYear05 11.08%
Life of Fund rr_AverageAnnualReturnSinceInception 11.30%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 31, 2012
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2055 Fund | Class R5  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.10%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.03%
Other Expenses rr_OtherExpensesOverAssets 0.13%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.63%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.04%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.59% [1]
1 Year rr_ExpenseExampleYear01 $ 60
3 Years rr_ExpenseExampleYear03 198
5 Years rr_ExpenseExampleYear05 347
10 Years rr_ExpenseExampleYear10 783
1 Year rr_ExpenseExampleNoRedemptionYear01 60
3 Years rr_ExpenseExampleNoRedemptionYear03 198
5 Years rr_ExpenseExampleNoRedemptionYear05 347
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 783
Past 1 Year rr_AverageAnnualReturnYear01 22.01%
Past 5 Years rr_AverageAnnualReturnYear05 11.24%
Life of Fund rr_AverageAnnualReturnSinceInception 11.46%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 31, 2012
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2055 Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.04%
Other Expenses rr_OtherExpensesOverAssets 0.04%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.54%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.05%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.49% [1]
1 Year rr_ExpenseExampleYear01 $ 50
3 Years rr_ExpenseExampleYear03 168
5 Years rr_ExpenseExampleYear05 297
10 Years rr_ExpenseExampleYear10 672
1 Year rr_ExpenseExampleNoRedemptionYear01 50
3 Years rr_ExpenseExampleNoRedemptionYear03 168
5 Years rr_ExpenseExampleNoRedemptionYear05 297
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 672
Past 1 Year rr_AverageAnnualReturnYear01 22.12%
Past 5 Years rr_AverageAnnualReturnYear05 11.30%
Life of Fund rr_AverageAnnualReturnSinceInception 11.51%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 31, 2012
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2055 Fund | Return After Taxes on Distributions | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.29%
Past 5 Years rr_AverageAnnualReturnYear05 9.77%
Life of Fund rr_AverageAnnualReturnSinceInception 10.08%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 31, 2012
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2055 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 12.59%
Past 5 Years rr_AverageAnnualReturnYear05 8.18%
Life of Fund rr_AverageAnnualReturnSinceInception 8.48%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 31, 2012
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2055 Fund | S&P TARGET DATE 2055 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.47% [2]
Past 5 Years rr_AverageAnnualReturnYear05 11.70% [2]
Life of Fund rr_AverageAnnualReturnSinceInception 11.64% [2]
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2055 Fund | LIPPER MIXED-ASSET TARGET 2055+ FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.99%
Past 5 Years rr_AverageAnnualReturnYear05 10.85%
Life of Fund rr_AverageAnnualReturnSinceInception 10.89%
[1] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[2] On 6/1/17, the methodology used to calculate the S&P Target Date 2055 Index was changed. Prior to 6/1/17, the S&P Target Date 2055 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2055 Index is comprised of underlying indices of securities.
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R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2060 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2060 Fund <br/> Class/Ticker: R2/JAKZX; R3/JAKPX; R4/JAKQX; R5/JAKIX; R6/JAKYX</b>
<b>What is the goal of the Fund?</b>
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.
<b>Fees and Expenses of the Fund</b>
The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/>of your investment)</b>
Annual Fund Operating Expenses - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2060 Fund
Class R2
Class R3
Class R4
Class R5
Class R6
Management Fees none none none none none
Distribution (Rule 12b-1) Fees 0.50% 0.25% none none none
Other Expenses 1.00% 1.15% 1.15% 0.79% 0.67%
Service Fees 0.25% 0.25% 0.25% 0.10% none
Remainder of Other Expenses 0.75% 0.90% 0.90% 0.69% 0.67%
Acquired Fund (Underlying Fund) Fees and Expenses 0.49% 0.49% 0.49% 0.49% 0.49%
Total Annual Fund Operating Expenses 1.99% 1.89% 1.64% 1.28% 1.16%
Fee Waivers and/or Expense Reimbursements [1] (0.75%) (0.90%) (0.90%) (0.69%) (0.67%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1] 1.24% 0.99% 0.74% 0.59% 0.49%
[1] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example</b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2060 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 126 552 1,003 2,256
CLASS R3 SHARES 101 506 938 2,138
CLASS R4 SHARES 76 429 807 1,868
CLASS R5 SHARES 60 338 636 1,485
CLASS R6 SHARES 50 302 574 1,349
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2060 Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS R2 SHARES 126 552 1,003 2,256
CLASS R3 SHARES 101 506 938 2,138
CLASS R4 SHARES 76 429 807 1,868
CLASS R5 SHARES 60 338 636 1,485
CLASS R6 SHARES 50 302 574 1,349
<b>Portfolio Turnover</b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 39% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies?</b>
The JPMorgan SmartRetirement® 2060 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2060 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2060+ Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITs are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows the performance of the Fund’s Class R2 Shares for the past calendar year. The table shows the average annual total returns for the past one year and life of the Fund. The table compares that performance to the S&P Target Date 2060+ Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Index, an index based on the total returns of all mutual funds within the Funds designated category as determined by Lipper. Unlike the S&P Index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Returns for Class R3 Shares prior to their inception date are based on the performance of Class A Shares (which are not offered in this prospectus). The actual returns for Class R3 Shares would have been different than those shown because Class R3 Shares have different expenses than Class A Shares. Returns for Class R4 Shares prior to their inception date are based on the performance of Class I Shares (which are not offered in this prospectus). The actual return for Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future, historical performance may give you some indication of the risks of investing in the Fund. Updated performance information will be available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
<b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES</b>
Bar Chart
Best Quarter 1st quarter, 2017     6.13%   
Worst Quarter 2nd quarter, 2017   3.67%

The Fund’s year-to-date total return through 9/30/18 was 1.90%.
<b>AVERAGE ANNUAL TOTAL RETURNS<br/> (For periods ended December 31, 2017)</b>
Average Annual Total Returns - R2, R3, R4, R5, R6 Shares - JPMorgan SmartRetirement 2060 Fund
Past 1 Year
Life of Fund
Inception Date
CLASS R2 SHARES 21.22% 16.94% Aug. 31, 2016
CLASS R2 SHARES | Return After Taxes on Distributions 20.60% 16.22% Aug. 31, 2016
CLASS R2 SHARES | Return After Taxes on Distributions and Sale of Fund Shares 12.25% 12.79% Aug. 31, 2016
CLASS R3 SHARES 21.43% 17.17% Aug. 31, 2016
CLASS R4 SHARES 21.76% 17.47% Aug. 31, 2016
CLASS R5 SHARES 21.93% 17.60% Aug. 31, 2016
CLASS R6 SHARES 22.07% 17.77% Aug. 31, 2016
S&P TARGET DATE 2060+ INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 20.75% 17.59%  
LIPPER MIXED-ASSET TARGET 2055+ FUNDS INDEX (Reflects No Deduction for Taxes) 22.08% 17.42%  
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2060+ Index was changed. Prior to 6/1/17, the S&P Target Date 2060+ Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2060+ Index is comprised of underlying indices of securities.
After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 72 R151.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2060 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2060 Fund <br/> Class/Ticker: R2/JAKZX; R3/JAKPX; R4/JAKQX; R5/JAKIX; R6/JAKYX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund?</b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund</b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/>of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover</b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 39% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 39.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example</b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies?</b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2060 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2060 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2060+ Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITs are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows the performance of the Fund’s Class R2 Shares for the past calendar year. The table shows the average annual total returns for the past one year and life of the Fund. The table compares that performance to the S&P Target Date 2060+ Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Index, an index based on the total returns of all mutual funds within the Funds designated category as determined by Lipper. Unlike the S&P Index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Returns for Class R3 Shares prior to their inception date are based on the performance of Class A Shares (which are not offered in this prospectus). The actual returns for Class R3 Shares would have been different than those shown because Class R3 Shares have different expenses than Class A Shares. Returns for Class R4 Shares prior to their inception date are based on the performance of Class I Shares (which are not offered in this prospectus). The actual return for Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future, historical performance may give you some indication of the risks of investing in the Fund. Updated performance information will be available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows the performance of the Fund’s Class R2 Shares for the past calendar year. The table shows the average annual total returns for the past one year and life of the Fund.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex The table compares that performance to the S&P Target Date 2060+ Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Index, an index based on the total returns of all mutual funds within the Funds designated category as determined by Lipper. Unlike the S&P Index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future, historical performance may give you some indication of the risks of investing in the Fund.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS - CLASS R2 SHARES</b>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 1st quarter, 2017     6.13%   
Worst Quarter 2nd quarter, 2017   3.67%

The Fund’s year-to-date total return through 9/30/18 was 1.90%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus Returns for Class R3 Shares prior to their inception date are based on the performance of Class A Shares (which are not offered in this prospectus). The actual returns for Class R3 Shares would have been different than those shown because Class R3 Shares have different expenses than Class A Shares. Returns for Class R4 Shares prior to their inception date are based on the performance of Class I Shares (which are not offered in this prospectus). The actual return for Class R4 Shares would have been different than those shown because Class R4 Shares have different expenses than Class I Shares.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS<br/> (For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class R2 Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2060 Fund | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.75%
Other Expenses rr_OtherExpensesOverAssets 1.00%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.49%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.99%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.75%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.24% [1]
1 Year rr_ExpenseExampleYear01 $ 126
3 Years rr_ExpenseExampleYear03 552
5 Years rr_ExpenseExampleYear05 1,003
10 Years rr_ExpenseExampleYear10 2,256
1 Year rr_ExpenseExampleNoRedemptionYear01 126
3 Years rr_ExpenseExampleNoRedemptionYear03 552
5 Years rr_ExpenseExampleNoRedemptionYear05 1,003
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,256
2017 rr_AnnualReturn2017 21.22%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.90%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter </b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2017
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 6.13%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter </b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Jun. 30, 2017
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn 3.67%
Past 1 Year rr_AverageAnnualReturnYear01 21.22%
Life of Fund rr_AverageAnnualReturnSinceInception 16.94%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2016
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2060 Fund | Class R3  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.90%
Other Expenses rr_OtherExpensesOverAssets 1.15%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.49%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.89%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.90%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.99% [1]
1 Year rr_ExpenseExampleYear01 $ 101
3 Years rr_ExpenseExampleYear03 506
5 Years rr_ExpenseExampleYear05 938
10 Years rr_ExpenseExampleYear10 2,138
1 Year rr_ExpenseExampleNoRedemptionYear01 101
3 Years rr_ExpenseExampleNoRedemptionYear03 506
5 Years rr_ExpenseExampleNoRedemptionYear05 938
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,138
Past 1 Year rr_AverageAnnualReturnYear01 21.43%
Life of Fund rr_AverageAnnualReturnSinceInception 17.17%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2016
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2060 Fund | Class R4  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.90%
Other Expenses rr_OtherExpensesOverAssets 1.15%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.49%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.64%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.90%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.74% [1]
1 Year rr_ExpenseExampleYear01 $ 76
3 Years rr_ExpenseExampleYear03 429
5 Years rr_ExpenseExampleYear05 807
10 Years rr_ExpenseExampleYear10 1,868
1 Year rr_ExpenseExampleNoRedemptionYear01 76
3 Years rr_ExpenseExampleNoRedemptionYear03 429
5 Years rr_ExpenseExampleNoRedemptionYear05 807
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,868
Past 1 Year rr_AverageAnnualReturnYear01 21.76%
Life of Fund rr_AverageAnnualReturnSinceInception 17.47%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2016
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2060 Fund | Class R5  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.10%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.69%
Other Expenses rr_OtherExpensesOverAssets 0.79%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.49%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.28%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.69%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.59% [1]
1 Year rr_ExpenseExampleYear01 $ 60
3 Years rr_ExpenseExampleYear03 338
5 Years rr_ExpenseExampleYear05 636
10 Years rr_ExpenseExampleYear10 1,485
1 Year rr_ExpenseExampleNoRedemptionYear01 60
3 Years rr_ExpenseExampleNoRedemptionYear03 338
5 Years rr_ExpenseExampleNoRedemptionYear05 636
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,485
Past 1 Year rr_AverageAnnualReturnYear01 21.93%
Life of Fund rr_AverageAnnualReturnSinceInception 17.60%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2016
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2060 Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.67%
Other Expenses rr_OtherExpensesOverAssets 0.67%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.49%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.16%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.67%) [1]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.49% [1]
1 Year rr_ExpenseExampleYear01 $ 50
3 Years rr_ExpenseExampleYear03 302
5 Years rr_ExpenseExampleYear05 574
10 Years rr_ExpenseExampleYear10 1,349
1 Year rr_ExpenseExampleNoRedemptionYear01 50
3 Years rr_ExpenseExampleNoRedemptionYear03 302
5 Years rr_ExpenseExampleNoRedemptionYear05 574
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,349
Past 1 Year rr_AverageAnnualReturnYear01 22.07%
Life of Fund rr_AverageAnnualReturnSinceInception 17.77%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2016
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2060 Fund | Return After Taxes on Distributions | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.60%
Life of Fund rr_AverageAnnualReturnSinceInception 16.22%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2016
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2060 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 12.25%
Life of Fund rr_AverageAnnualReturnSinceInception 12.79%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2016
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2060 Fund | S&P TARGET DATE 2060+ INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.75% [2]
Life of Fund rr_AverageAnnualReturnSinceInception 17.59% [2]
R2, R3, R4, R5, R6 Shares | JPMorgan SmartRetirement 2060 Fund | LIPPER MIXED-ASSET TARGET 2055+ FUNDS INDEX (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 22.08%
Life of Fund rr_AverageAnnualReturnSinceInception 17.42%
[1] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.75%, 0.50%, 0.25%, 0.10% and 0.00% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[2] On 6/1/17, the methodology used to calculate the S&P Target Date 2060+ Index was changed. Prior to 6/1/17, the S&P Target Date 2060+ Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2060+ Index is comprised of underlying indices of securities.
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T Shares | JPMorgan SmartRetirement Income Fund
<b>JPMorgan SmartRetirement<sup>®</sup> Income Fund <br/>Class/Ticker: T/* </b><br/><br/><sup>*</sup> The share class is currently not offered to the public.
<b>What is the goal of the Fund? </b>
The Fund seeks current income and some capital appreciation.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 92 of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees
T Shares
JPMorgan SmartRetirement Income Fund
Class T
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none
“Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Annual Fund Operating Expenses
T Shares
JPMorgan SmartRetirement Income Fund
Class T
Management Fees none
Distribution (Rule 12b-1) Fees 0.25%
Other Expenses 0.28%
Service Fees 0.25%
Remainder of Other Expenses 0.03% [1]
Acquired Fund (Underlying Fund) Fees and Expenses 0.44% [1]
Total Annual Fund Operating Expenses 0.97%
Fee Waivers and/or Expense Reimbursements (0.24%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements 0.73% [2]
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.31% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement Income Fund | CLASS T SHARES | USD ($) 323 528 750 1,389
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement Income Fund | CLASS T SHARES | USD ($) 323 528 750 1,389
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 23% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® Income Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors who are retired or about to retire soon. The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, with an emphasis on fixed income funds over equity funds and other funds. The Fund’s strategic target allocations among various asset and sub-asset classes as of November 1, 2018 are set forth below:
Strategic Target Allocations1
Fixed Income 59.0%
U.S. Fixed Income Funds 37.5%
Inflation Managed Funds 9.0%
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 0.0%
Commodities Funds 0.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The table above shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date Retirement Income Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for fixed income, +/- 10% for equity, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments listed above. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed above from time to time.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date Retirement Income Index, a broad-based securities market index, and the Lipper Mixed-Asset Target Today Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart
[1] The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
Best Quarter 2nd quarter, 2009     9.99%   
Worst Quarter 4th quarter, 2008   -7.94%

The Fund’s year-to-date total return through 9/30/18 was 0.35%.
<b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - T Shares - JPMorgan SmartRetirement Income Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS A SHARES 5.88% 4.39% 4.36%
CLASS A SHARES | Return After Taxes on Distributions 4.67% 3.37% 3.31%
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 3.71% 2.99% 3.00%
S&P TARGET DATE RETIREMENT INCOME INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 8.54% 4.86% 4.12%
LIPPER MIXED-ASSET TARGET TODAY FUNDS AVERAGE (Reflects No Deduction for Taxes) 9.13% 4.34% 4.12%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date Retirement Income Index was changed. Prior to 6/1/17, the S&P Target Date Retirement Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date Retirement Index is comprised of underlying indices of securities.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 75 R159.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
T Shares | JPMorgan SmartRetirement Income Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> Income Fund <br/>Class/Ticker: T/* </b><br/><br/><sup>*</sup> The share class is currently not offered to the public.
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Fund seeks current income and some capital appreciation.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 92 of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 23% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 23.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Acquired Fund Fees and Expenses, Based on Estimates [Text] rr_AcquiredFundFeesAndExpensesBasedOnEstimates "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® Income Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors who are retired or about to retire soon. The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, with an emphasis on fixed income funds over equity funds and other funds. The Fund’s strategic target allocations among various asset and sub-asset classes as of November 1, 2018 are set forth below:
Strategic Target Allocations1
Fixed Income 59.0%
U.S. Fixed Income Funds 37.5%
Inflation Managed Funds 9.0%
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 0.0%
Commodities Funds 0.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The table above shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date Retirement Income Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for fixed income, +/- 10% for equity, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments listed above. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed above from time to time.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date Retirement Income Index, a broad-based securities market index, and the Lipper Mixed-Asset Target Today Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because Class T Shares have not yet commenced operations as of the date of this prospectus
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date Retirement Income Index, a broad-based securities market index, and the Lipper Mixed-Asset Target Today Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     9.99%   
Worst Quarter 4th quarter, 2008   -7.94%

The Fund’s year-to-date total return through 9/30/18 was 0.35%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years.<br/><br/>The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
T Shares | JPMorgan SmartRetirement Income Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.03% [1]
Other Expenses rr_OtherExpensesOverAssets 0.28%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.44% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.97%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.24%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.73% [2]
1 Year rr_ExpenseExampleYear01 $ 323
3 Years rr_ExpenseExampleYear03 528
5 Years rr_ExpenseExampleYear05 750
10 Years rr_ExpenseExampleYear10 1,389
1 Year rr_ExpenseExampleNoRedemptionYear01 323
3 Years rr_ExpenseExampleNoRedemptionYear03 528
5 Years rr_ExpenseExampleNoRedemptionYear05 750
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,389
T Shares | JPMorgan SmartRetirement Income Fund | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
2008 rr_AnnualReturn2008 (17.23%) [3]
2009 rr_AnnualReturn2009 21.08% [3]
2010 rr_AnnualReturn2010 11.14% [3]
2011 rr_AnnualReturn2011 0.90% [3]
2012 rr_AnnualReturn2012 9.99% [3]
2013 rr_AnnualReturn2013 7.62% [3]
2014 rr_AnnualReturn2014 4.94% [3]
2015 rr_AnnualReturn2015 (1.24%) [3]
2016 rr_AnnualReturn2016 4.97% [3]
2017 rr_AnnualReturn2017 10.88% [3]
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 0.35%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter </b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 9.99%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter </b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (7.94%)
Past 1 Year rr_AverageAnnualReturnYear01 5.88%
Past 5 Years rr_AverageAnnualReturnYear05 4.39%
Past 10 Years rr_AverageAnnualReturnYear10 4.36%
T Shares | JPMorgan SmartRetirement Income Fund | Return After Taxes on Distributions | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 4.67%
Past 5 Years rr_AverageAnnualReturnYear05 3.37%
Past 10 Years rr_AverageAnnualReturnYear10 3.31%
T Shares | JPMorgan SmartRetirement Income Fund | Return After Taxes on Distributions and Sale of Fund Shares | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 3.71%
Past 5 Years rr_AverageAnnualReturnYear05 2.99%
Past 10 Years rr_AverageAnnualReturnYear10 3.00%
T Shares | JPMorgan SmartRetirement Income Fund | S&P TARGET DATE RETIREMENT INCOME INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 8.54% [4]
Past 5 Years rr_AverageAnnualReturnYear05 4.86% [4]
Past 10 Years rr_AverageAnnualReturnYear10 4.12% [4]
T Shares | JPMorgan SmartRetirement Income Fund | LIPPER MIXED-ASSET TARGET TODAY FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 9.13%
Past 5 Years rr_AverageAnnualReturnYear05 4.34%
Past 10 Years rr_AverageAnnualReturnYear10 4.12%
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.31% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
[4] On 6/1/17, the methodology used to calculate the S&P Target Date Retirement Income Index was changed. Prior to 6/1/17, the S&P Target Date Retirement Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date Retirement Index is comprised of underlying indices of securities.
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T Shares | JPMorgan SmartRetirement 2020 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2020 Fund<br/>Class/Ticker: T/*</b><br/><br/><sup>*</sup> The share class is currently not offered to the public.
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in "Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION" on page 92 of the prospectus and in "PURCHASES, REDEMPTIONS AND EXCHANGES" in Appendix A to Part II of the Statement of Additional Information.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees
T Shares
JPMorgan SmartRetirement 2020 Fund
Class T
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none
"Acquired Fund (Underlying Fund) Fees and Expenses" are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES<br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Annual Fund Operating Expenses
T Shares
JPMorgan SmartRetirement 2020 Fund
Class T
Management Fees none
Distribution (Rule 12b-1) Fees 0.25%
Other Expenses 0.27%
Service Fees 0.25%
Remainder of Other Expenses 0.02% [1]
Acquired Fund (Underlying Fund) Fees and Expenses 0.46% [1]
Total Annual Fund Operating Expenses 0.98%
Fee Waivers and/or Expense Reimbursements (0.17%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements 0.81% [2]
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.36% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement 2020 Fund | CLASS T SHARES | USD ($) 331 538 762 1,406
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement 2020 Fund | CLASS T SHARES | USD ($) 331 538 762 1,406
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 23% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2020 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2020 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart
Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2020 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for fixed income, +/- 10% for equity, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2020 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2020 Funds Index, an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart
[1] The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
Best Quarter 2nd quarter, 2009     15.58%   
Worst Quarter 4th quarter, 2008   -15.68%

The Fund’s year-to-date total return through 9/30/18 was 0.71%.
<b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - T Shares - JPMorgan SmartRetirement 2020 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS A SHARES 8.61% 6.56% 5.01%
CLASS A SHARES | Return After Taxes on Distributions 7.29% 5.35% 3.96%
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 5.41% 4.69% 3.57%
S&P TARGET DATE 2020 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 12.80% 7.92% 5.28%
LIPPER MIXED-ASSET TARGET 2020 FUNDS INDEX (Reflects No Deduction for Taxes) 13.12% 7.02% 4.85%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2020 Index was changed. Prior to 6/1/17, the S&P Target Date 2020 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2020 Index is comprised of underlying indices of securities.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 78 R167.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
T Shares | JPMorgan SmartRetirement 2020 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2020 Fund<br/>Class/Ticker: T/*</b><br/><br/><sup>*</sup> The share class is currently not offered to the public.
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in "Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION" on page 92 of the prospectus and in "PURCHASES, REDEMPTIONS AND EXCHANGES" in Appendix A to Part II of the Statement of Additional Information.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES<br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 23% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 23.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock "Acquired Fund (Underlying Fund) Fees and Expenses" are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Acquired Fund Fees and Expenses, Based on Estimates [Text] rr_AcquiredFundFeesAndExpensesBasedOnEstimates "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2020 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2020 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart
Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2020 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for fixed income, +/- 10% for equity, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2020 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2020 Funds Index, an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because Class T Shares have not yet commenced operations as of the date of this prospectus
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2020 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2020 Funds Index, an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     15.58%   
Worst Quarter 4th quarter, 2008   -15.68%

The Fund’s year-to-date total return through 9/30/18 was 0.71%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years.<br/><br/>The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
T Shares | JPMorgan SmartRetirement 2020 Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02% [1]
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.46% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.98%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.17%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.81% [2]
1 Year rr_ExpenseExampleYear01 $ 331
3 Years rr_ExpenseExampleYear03 538
5 Years rr_ExpenseExampleYear05 762
10 Years rr_ExpenseExampleYear10 1,406
1 Year rr_ExpenseExampleNoRedemptionYear01 331
3 Years rr_ExpenseExampleNoRedemptionYear03 538
5 Years rr_ExpenseExampleNoRedemptionYear05 762
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,406
T Shares | JPMorgan SmartRetirement 2020 Fund | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
2008 rr_AnnualReturn2008 (29.10%) [3]
2009 rr_AnnualReturn2009 28.95% [3]
2010 rr_AnnualReturn2010 14.73% [3]
2011 rr_AnnualReturn2011 (1.00%) [3]
2012 rr_AnnualReturn2012 14.28% [3]
2013 rr_AnnualReturn2013 13.43% [3]
2014 rr_AnnualReturn2014 6.69% [3]
2015 rr_AnnualReturn2015 (0.98%) [3]
2016 rr_AnnualReturn2016 5.58% [3]
2017 rr_AnnualReturn2017 13.73% [3]
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 0.71%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter </b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 15.58%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter </b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (15.68%)
Past 1 Year rr_AverageAnnualReturnYear01 8.61%
Past 5 Years rr_AverageAnnualReturnYear05 6.56%
Past 10 Years rr_AverageAnnualReturnYear10 5.01%
T Shares | JPMorgan SmartRetirement 2020 Fund | Return After Taxes on Distributions | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 7.29%
Past 5 Years rr_AverageAnnualReturnYear05 5.35%
Past 10 Years rr_AverageAnnualReturnYear10 3.96%
T Shares | JPMorgan SmartRetirement 2020 Fund | Return After Taxes on Distributions and Sale of Fund Shares | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 5.41%
Past 5 Years rr_AverageAnnualReturnYear05 4.69%
Past 10 Years rr_AverageAnnualReturnYear10 3.57%
T Shares | JPMorgan SmartRetirement 2020 Fund | S&P TARGET DATE 2020 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 12.80% [4]
Past 5 Years rr_AverageAnnualReturnYear05 7.92% [4]
Past 10 Years rr_AverageAnnualReturnYear10 5.28% [4]
T Shares | JPMorgan SmartRetirement 2020 Fund | LIPPER MIXED-ASSET TARGET 2020 FUNDS INDEX (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 13.12%
Past 5 Years rr_AverageAnnualReturnYear05 7.02%
Past 10 Years rr_AverageAnnualReturnYear10 4.85%
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.36% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
[4] On 6/1/17, the methodology used to calculate the S&P Target Date 2020 Index was changed. Prior to 6/1/17, the S&P Target Date 2020 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2020 Index is comprised of underlying indices of securities.
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T Shares | JPMorgan SmartRetirement 2025 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2025 Fund<br/>Class/Ticker: T/*</b><br/><br/><sup>*</sup> The share class is currently not offered to the public.
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 92 of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees
T Shares
JPMorgan SmartRetirement 2025 Fund
Class T
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none
“Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value <br/> of your investment)</b>
Annual Fund Operating Expenses
T Shares
JPMorgan SmartRetirement 2025 Fund
Class T
Management Fees none
Distribution (Rule 12b-1) Fees 0.25%
Other Expenses 0.27%
Service Fees 0.25%
Remainder of Other Expenses 0.02% [1]
Acquired Fund (Underlying Fund) Fees and Expenses 0.47% [1]
Total Annual Fund Operating Expenses 0.99%
Fee Waivers and/or Expense Reimbursements (0.14%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements 0.85% [2]
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.38% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement 2025 Fund | CLASS T SHARES | USD ($) 335 544 770 1,420
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement 2025 Fund | CLASS T SHARES | USD ($) 335 544 770 1,420
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 26% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2025 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2025 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2025 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 10% for equity, +/- 15% for fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2025 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2025 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart
[1] The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
Best Quarter 2nd quarter, 2009     17.09%   
Worst Quarter 4th quarter, 2008   -17.45%

The Fund’s year-to-date total return through 9/30/18 was 1.13%.
<b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - T Shares - JPMorgan SmartRetirement 2025 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS A SHARES 10.80% 7.72% 5.43%
CLASS A SHARES | Return After Taxes on Distributions 9.52% 6.48% 4.46%
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 6.65% 5.63% 3.96%
S&P TARGET DATE 2025 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 14.55% 8.76% 5.53%
LIPPER MIXED-ASSET TARGET 2025 FUNDS AVERAGE (Reflects No Deduction for Taxes) 14.08% 7.70% 4.94%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2025 Index was changed. Prior to 6/1/17, the S&P Target Date 2025 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2025 Index is comprised of underlying indices of securities.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 81 R175.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
T Shares | JPMorgan SmartRetirement 2025 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2025 Fund<br/>Class/Ticker: T/*</b><br/><br/><sup>*</sup> The share class is currently not offered to the public.
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 92 of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value <br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 26% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 26.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Acquired Fund Fees and Expenses, Based on Estimates [Text] rr_AcquiredFundFeesAndExpensesBasedOnEstimates "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2025 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2025 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2025 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 10% for equity, +/- 15% for fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2025 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2025 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because Class T Shares have not yet commenced operations as of the date of this prospectus
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2025 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2025 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     17.09%   
Worst Quarter 4th quarter, 2008   -17.45%

The Fund’s year-to-date total return through 9/30/18 was 1.13%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years.<br/><br/>The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
T Shares | JPMorgan SmartRetirement 2025 Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02% [1]
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.47% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.99%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.14%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.85% [2]
1 Year rr_ExpenseExampleYear01 $ 335
3 Years rr_ExpenseExampleYear03 544
5 Years rr_ExpenseExampleYear05 770
10 Years rr_ExpenseExampleYear10 1,420
1 Year rr_ExpenseExampleNoRedemptionYear01 335
3 Years rr_ExpenseExampleNoRedemptionYear03 544
5 Years rr_ExpenseExampleNoRedemptionYear05 770
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,420
T Shares | JPMorgan SmartRetirement 2025 Fund | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
2008 rr_AnnualReturn2008 (31.49%) [3]
2009 rr_AnnualReturn2009 31.03% [3]
2010 rr_AnnualReturn2010 15.43% [3]
2011 rr_AnnualReturn2011 (2.65%) [3]
2012 rr_AnnualReturn2012 15.83% [3]
2013 rr_AnnualReturn2013 16.84% [3]
2014 rr_AnnualReturn2014 7.15% [3]
2015 rr_AnnualReturn2015 (1.18%) [3]
2016 rr_AnnualReturn2016 5.88% [3]
2017 rr_AnnualReturn2017 15.99% [3]
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.13%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 17.09%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (17.45%)
Past 1 Year rr_AverageAnnualReturnYear01 10.80%
Past 5 Years rr_AverageAnnualReturnYear05 7.72%
Past 10 Years rr_AverageAnnualReturnYear10 5.43%
T Shares | JPMorgan SmartRetirement 2025 Fund | Return After Taxes on Distributions | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 9.52%
Past 5 Years rr_AverageAnnualReturnYear05 6.48%
Past 10 Years rr_AverageAnnualReturnYear10 4.46%
T Shares | JPMorgan SmartRetirement 2025 Fund | Return After Taxes on Distributions and Sale of Fund Shares | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 6.65%
Past 5 Years rr_AverageAnnualReturnYear05 5.63%
Past 10 Years rr_AverageAnnualReturnYear10 3.96%
T Shares | JPMorgan SmartRetirement 2025 Fund | S&P TARGET DATE 2025 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 14.55% [4]
Past 5 Years rr_AverageAnnualReturnYear05 8.76% [4]
Past 10 Years rr_AverageAnnualReturnYear10 5.53% [4]
T Shares | JPMorgan SmartRetirement 2025 Fund | LIPPER MIXED-ASSET TARGET 2025 FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 14.08%
Past 5 Years rr_AverageAnnualReturnYear05 7.70%
Past 10 Years rr_AverageAnnualReturnYear10 4.94%
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.38% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
[4] On 6/1/17, the methodology used to calculate the S&P Target Date 2025 Index was changed. Prior to 6/1/17, the S&P Target Date 2025 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2025 Index is comprised of underlying indices of securities.
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T Shares | JPMorgan SmartRetirement 2030 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2030 Fund <br/>Class/Ticker: T/* </b><br/><br/><sup>*</sup> The share class is currently not offered to the public.
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 92 of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees
T Shares
JPMorgan SmartRetirement 2030 Fund
Class T
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none
“Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/>of your investment)</b>
Annual Fund Operating Expenses
T Shares
JPMorgan SmartRetirement 2030 Fund
Class T
Management Fees none
Distribution (Rule 12b-1) Fees 0.25%
Other Expenses 0.27%
Service Fees 0.25%
Remainder of Other Expenses 0.02% [1]
Acquired Fund (Underlying Fund) Fees and Expenses 0.48% [1]
Total Annual Fund Operating Expenses 1.00%
Fee Waivers and/or Expense Reimbursements (0.14%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements 0.86% [2]
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.38% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement 2030 Fund | CLASS T SHARES | USD ($) 336 547 775 1,432
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement 2030 Fund | CLASS T SHARES | USD ($) 336 547 775 1,432
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 30% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2030 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2030 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2030 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2030 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2030 Funds Index, an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart
[1] The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
Best Quarter 2nd quarter, 2009     18.46%   
Worst Quarter 4th quarter, 2008   -19.08%

The Fund’s year-to-date total return through 9/30/18 was 1.56%.
<b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - T Shares - JPMorgan SmartRetirement 2030 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS A SHARES 13.34% 8.71% 5.64%
CLASS A SHARES | Return After Taxes on Distributions 12.03% 7.51% 4.68%
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 8.20% 6.48% 4.16%
S&P TARGET DATE 2030 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 16.19% 9.57% 5.72%
LIPPER MIXED-ASSET TARGET 2030 FUNDS INDEX (Reflects No Deduction for Taxes) 16.97% 9.14% 5.13%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2030 Index was changed. Prior to 6/1/17, the S&P Target Date 2030 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2030 Index is comprised of underlying indices of securities.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 84 R183.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
T Shares | JPMorgan SmartRetirement 2030 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2030 Fund <br/>Class/Ticker: T/* </b><br/><br/><sup>*</sup> The share class is currently not offered to the public.
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 92 of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/>of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 30% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 30.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Acquired Fund Fees and Expenses, Based on Estimates [Text] rr_AcquiredFundFeesAndExpensesBasedOnEstimates "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2030 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2030 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2030 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2030 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2030 Funds Index, an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because Class T Shares have not yet commenced operations as of the date of this prospectus
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2030 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2030 Funds Index, an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     18.46%   
Worst Quarter 4th quarter, 2008   -19.08%

The Fund’s year-to-date total return through 9/30/18 was 1.56%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years.<br/><br/>The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
T Shares | JPMorgan SmartRetirement 2030 Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02% [1]
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.48% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.00%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.14%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.86% [2]
1 Year rr_ExpenseExampleYear01 $ 336
3 Years rr_ExpenseExampleYear03 547
5 Years rr_ExpenseExampleYear05 775
10 Years rr_ExpenseExampleYear10 1,432
1 Year rr_ExpenseExampleNoRedemptionYear01 336
3 Years rr_ExpenseExampleNoRedemptionYear03 547
5 Years rr_ExpenseExampleNoRedemptionYear05 775
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,432
T Shares | JPMorgan SmartRetirement 2030 Fund | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
2008 rr_AnnualReturn2008 (33.92%) [3]
2009 rr_AnnualReturn2009 32.45% [3]
2010 rr_AnnualReturn2010 16.25% [3]
2011 rr_AnnualReturn2011 (4.20%) [3]
2012 rr_AnnualReturn2012 16.88% [3]
2013 rr_AnnualReturn2013 19.68% [3]
2014 rr_AnnualReturn2014 7.43% [3]
2015 rr_AnnualReturn2015 (1.54%) [3]
2016 rr_AnnualReturn2016 5.88% [3]
2017 rr_AnnualReturn2017 18.66% [3]
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.56%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter </b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 18.46%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.08%)
Past 1 Year rr_AverageAnnualReturnYear01 13.34%
Past 5 Years rr_AverageAnnualReturnYear05 8.71%
Past 10 Years rr_AverageAnnualReturnYear10 5.64%
T Shares | JPMorgan SmartRetirement 2030 Fund | Return After Taxes on Distributions | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 12.03%
Past 5 Years rr_AverageAnnualReturnYear05 7.51%
Past 10 Years rr_AverageAnnualReturnYear10 4.68%
T Shares | JPMorgan SmartRetirement 2030 Fund | Return After Taxes on Distributions and Sale of Fund Shares | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 8.20%
Past 5 Years rr_AverageAnnualReturnYear05 6.48%
Past 10 Years rr_AverageAnnualReturnYear10 4.16%
T Shares | JPMorgan SmartRetirement 2030 Fund | S&P TARGET DATE 2030 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 16.19% [4]
Past 5 Years rr_AverageAnnualReturnYear05 9.57% [4]
Past 10 Years rr_AverageAnnualReturnYear10 5.72% [4]
T Shares | JPMorgan SmartRetirement 2030 Fund | LIPPER MIXED-ASSET TARGET 2030 FUNDS INDEX (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 16.97%
Past 5 Years rr_AverageAnnualReturnYear05 9.14%
Past 10 Years rr_AverageAnnualReturnYear10 5.13%
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.38% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
[4] On 6/1/17, the methodology used to calculate the S&P Target Date 2030 Index was changed. Prior to 6/1/17, the S&P Target Date 2030 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2030 Index is comprised of underlying indices of securities.
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T Shares | JPMorgan SmartRetirement 2035 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2035 Fund</b> <br/><b>Class/Ticker: T/*</b><br/><br/><sup>*</sup> The share class is currently not offered to the public.
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 92 of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees
T Shares
JPMorgan SmartRetirement 2035 Fund
Class T
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none
“Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Annual Fund Operating Expenses
T Shares
JPMorgan SmartRetirement 2035 Fund
Class T
Management Fees none
Distribution (Rule 12b-1) Fees 0.25%
Other Expenses 0.27%
Service Fees 0.25%
Remainder of Other Expenses 0.02% [1]
Acquired Fund (Underlying Fund) Fees and Expenses 0.49% [1]
Total Annual Fund Operating Expenses 1.01%
Fee Waivers and/or Expense Reimbursements (0.14%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements 0.87% [2]
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement 2035 Fund | CLASS T SHARES | USD ($) 337 550 781 1,443
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement 2035 Fund | CLASS T SHARES | USD ($) 337 550 781 1,443
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 28% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2035 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2035 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2035 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2035 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2035 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES </b>
Bar Chart
[1] The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
Best Quarter 2nd quarter, 2009     19.32%   
Worst Quarter 4th quarter, 2008   -19.28%

The Fund’s year-to-date total return through 9/30/18 was 1.65%.
<b>AVERAGE ANNUAL TOTAL RETURNS<br/> (For periods ended December 31, 2017)</b>
Average Annual Total Returns - T Shares - JPMorgan SmartRetirement 2035 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS A SHARES 14.73% 9.42% 5.97%
CLASS A SHARES | Return After Taxes on Distributions 13.49% 8.20% 5.10%
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 8.97% 7.04% 4.47%
S&P TARGET DATE 2035 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 17.78% 10.29% 5.90%
LIPPER MIXED-ASSET TARGET 2035 FUNDS AVERAGE (Reflects No Deduction for Taxes) 18.39% 9.63% 5.49%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2035 Index was changed. Prior to 6/1/17, the S&P Target Date 2035 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2035 Index is comprised of underlying indices of securities.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

XML 87 R191.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
T Shares | JPMorgan SmartRetirement 2035 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2035 Fund</b> <br/><b>Class/Ticker: T/*</b><br/><br/><sup>*</sup> The share class is currently not offered to the public.
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 92 of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 28% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 28.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Acquired Fund Fees and Expenses, Based on Estimates [Text] rr_AcquiredFundFeesAndExpensesBasedOnEstimates "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2035 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2035 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2035 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2035 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2035 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because Class T Shares have not yet commenced operations as of the date of this prospectus
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2035 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2035 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES </b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     19.32%   
Worst Quarter 4th quarter, 2008   -19.28%

The Fund’s year-to-date total return through 9/30/18 was 1.65%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years.<br/><br/>The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS<br/> (For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
T Shares | JPMorgan SmartRetirement 2035 Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02% [1]
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.49% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.01%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.14%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.87% [2]
1 Year rr_ExpenseExampleYear01 $ 337
3 Years rr_ExpenseExampleYear03 550
5 Years rr_ExpenseExampleYear05 781
10 Years rr_ExpenseExampleYear10 1,443
1 Year rr_ExpenseExampleNoRedemptionYear01 337
3 Years rr_ExpenseExampleNoRedemptionYear03 550
5 Years rr_ExpenseExampleNoRedemptionYear05 781
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,443
T Shares | JPMorgan SmartRetirement 2035 Fund | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
2008 rr_AnnualReturn2008 (34.76%) [3]
2009 rr_AnnualReturn2009 33.63% [3]
2010 rr_AnnualReturn2010 16.42% [3]
2011 rr_AnnualReturn2011 (4.89%) [3]
2012 rr_AnnualReturn2012 17.88% [3]
2013 rr_AnnualReturn2013 21.86% [3]
2014 rr_AnnualReturn2014 7.57% [3]
2015 rr_AnnualReturn2015 (1.73%) [3]
2016 rr_AnnualReturn2016 6.15% [3]
2017 rr_AnnualReturn2017 20.15% [3]
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.65%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 19.32%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.28%)
Past 1 Year rr_AverageAnnualReturnYear01 14.73%
Past 5 Years rr_AverageAnnualReturnYear05 9.42%
Past 10 Years rr_AverageAnnualReturnYear10 5.97%
T Shares | JPMorgan SmartRetirement 2035 Fund | Return After Taxes on Distributions | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 13.49%
Past 5 Years rr_AverageAnnualReturnYear05 8.20%
Past 10 Years rr_AverageAnnualReturnYear10 5.10%
T Shares | JPMorgan SmartRetirement 2035 Fund | Return After Taxes on Distributions and Sale of Fund Shares | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 8.97%
Past 5 Years rr_AverageAnnualReturnYear05 7.04%
Past 10 Years rr_AverageAnnualReturnYear10 4.47%
T Shares | JPMorgan SmartRetirement 2035 Fund | S&P TARGET DATE 2035 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 17.78% [4]
Past 5 Years rr_AverageAnnualReturnYear05 10.29% [4]
Past 10 Years rr_AverageAnnualReturnYear10 5.90% [4]
T Shares | JPMorgan SmartRetirement 2035 Fund | LIPPER MIXED-ASSET TARGET 2035 FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 18.39%
Past 5 Years rr_AverageAnnualReturnYear05 9.63%
Past 10 Years rr_AverageAnnualReturnYear10 5.49%
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
[4] On 6/1/17, the methodology used to calculate the S&P Target Date 2035 Index was changed. Prior to 6/1/17, the S&P Target Date 2035 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2035 Index is comprised of underlying indices of securities.
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T Shares | JPMorgan SmartRetirement 2040 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2040 Fund</b><br/><b>Class/Ticker: T/*</b><br/><br/><sup>*</sup> The share class is currently not offered to the public.
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 92 of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees
T Shares
JPMorgan SmartRetirement 2040 Fund
Class T
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none
“Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Annual Fund Operating Expenses
T Shares
JPMorgan SmartRetirement 2040 Fund
Class T
Management Fees none
Distribution (Rule 12b-1) Fees 0.25%
Other Expenses 0.27%
Service Fees 0.25%
Remainder of Other Expenses 0.02% [1]
Acquired Fund (Underlying Fund) Fees and Expenses 0.50% [1]
Total Annual Fund Operating Expenses 1.02%
Fee Waivers and/or Expense Reimbursements (0.14%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements 0.88% [2]
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement 2040 Fund | CLASS T SHARES | USD ($) 338 553 786 1,454
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement 2040 Fund | CLASS T SHARES | USD ($) 338 553 786 1,454
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 29% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2040 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2040 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2040 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2040 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2040 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES </b>
Bar Chart
Best Quarter 2nd quarter, 2009     19.23%   
Worst Quarter 4th quarter, 2008   -19.51%

The Fund’s year-to-date total return through 9/30/18 was 1.96%.
<b>AVERAGE ANNUAL TOTAL RETURNS <br/> (For periods ended December 31, 2017)</b>
Average Annual Total Returns - T Shares - JPMorgan SmartRetirement 2040 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS A SHARES 16.08% 9.90% 6.17%
CLASS A SHARES | Return After Taxes on Distributions 14.83% 8.73% 5.26%
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 9.82% 7.48% 4.63%
S&P TARGET DATE 2040 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 18.87% 10.78% 6.03%
LIPPER MIXED-ASSET TARGET 2040 FUNDS AVERAGE (Reflects No Deduction for Taxes) 19.23% 9.75% 5.37%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2040 Index was changed. Prior to 6/1/17, the S&P Target Date 2040 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2040 Index is comprised of underlying indices of securities.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 90 R199.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
T Shares | JPMorgan SmartRetirement 2040 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2040 Fund</b><br/><b>Class/Ticker: T/*</b><br/><br/><sup>*</sup> The share class is currently not offered to the public.
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 92 of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 29% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 29.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Acquired Fund Fees and Expenses, Based on Estimates [Text] rr_AcquiredFundFeesAndExpensesBasedOnEstimates "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2040 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2040 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2040 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2040 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2040 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because Class T Shares have not yet commenced operations as of the date of this prospectus
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2040 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2040 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES </b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     19.23%   
Worst Quarter 4th quarter, 2008   -19.51%

The Fund’s year-to-date total return through 9/30/18 was 1.96%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS <br/> (For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
T Shares | JPMorgan SmartRetirement 2040 Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.02% [1]
Other Expenses rr_OtherExpensesOverAssets 0.27%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.02%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.14%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.88% [2]
1 Year rr_ExpenseExampleYear01 $ 338
3 Years rr_ExpenseExampleYear03 553
5 Years rr_ExpenseExampleYear05 786
10 Years rr_ExpenseExampleYear10 1,454
1 Year rr_ExpenseExampleNoRedemptionYear01 338
3 Years rr_ExpenseExampleNoRedemptionYear03 553
5 Years rr_ExpenseExampleNoRedemptionYear05 786
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,454
T Shares | JPMorgan SmartRetirement 2040 Fund | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
2008 rr_AnnualReturn2008 (34.82%)
2009 rr_AnnualReturn2009 33.33%
2010 rr_AnnualReturn2010 16.58%
2011 rr_AnnualReturn2011 (5.04%)
2012 rr_AnnualReturn2012 17.94%
2013 rr_AnnualReturn2013 22.77%
2014 rr_AnnualReturn2014 7.63%
2015 rr_AnnualReturn2015 (1.89%)
2016 rr_AnnualReturn2016 6.53%
2017 rr_AnnualReturn2017 21.56%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.96%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 19.23%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.51%)
Past 1 Year rr_AverageAnnualReturnYear01 16.08%
Past 5 Years rr_AverageAnnualReturnYear05 9.90%
Past 10 Years rr_AverageAnnualReturnYear10 6.17%
T Shares | JPMorgan SmartRetirement 2040 Fund | Return After Taxes on Distributions | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 14.83%
Past 5 Years rr_AverageAnnualReturnYear05 8.73%
Past 10 Years rr_AverageAnnualReturnYear10 5.26%
T Shares | JPMorgan SmartRetirement 2040 Fund | Return After Taxes on Distributions and Sale of Fund Shares | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 9.82%
Past 5 Years rr_AverageAnnualReturnYear05 7.48%
Past 10 Years rr_AverageAnnualReturnYear10 4.63%
T Shares | JPMorgan SmartRetirement 2040 Fund | S&P TARGET DATE 2040 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 18.87% [3]
Past 5 Years rr_AverageAnnualReturnYear05 10.78% [3]
Past 10 Years rr_AverageAnnualReturnYear10 6.03% [3]
T Shares | JPMorgan SmartRetirement 2040 Fund | LIPPER MIXED-ASSET TARGET 2040 FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 19.23%
Past 5 Years rr_AverageAnnualReturnYear05 9.75%
Past 10 Years rr_AverageAnnualReturnYear10 5.37%
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] On 6/1/17, the methodology used to calculate the S&P Target Date 2040 Index was changed. Prior to 6/1/17, the S&P Target Date 2040 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2040 Index is comprised of underlying indices of securities.
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T Shares | JPMorgan SmartRetirement 2045 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2045 Fund <br/>Class/Ticker: T/* </b><br/><br/><sup>*</sup> The share class is currently not offered to the public.
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 92 of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees
T Shares
JPMorgan SmartRetirement 2045 Fund
Class T
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none
“Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value <br/>of your investment)</b>
Annual Fund Operating Expenses
T Shares
JPMorgan SmartRetirement 2045 Fund
Class T
Management Fees none
Distribution (Rule 12b-1) Fees 0.25%
Other Expenses 0.28%
Service Fees 0.25%
Remainder of Other Expenses 0.03% [1]
Acquired Fund (Underlying Fund) Fees and Expenses 0.50% [1]
Total Annual Fund Operating Expenses 1.03%
Fee Waivers and/or Expense Reimbursements (0.14%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements 0.89% [2]
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement 2045 Fund | CLASS T SHARES | USD ($) 339 556 791 1,466
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement 2045 Fund | CLASS T SHARES | USD ($) 339 556 791 1,466
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 26% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2045 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2045 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2045 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2045 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2045 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES </b>
Bar Chart
[1] The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
Best Quarter 2nd quarter, 2009     19.13%   
Worst Quarter 4th quarter, 2008   -19.29%

The Fund’s year-to-date total return through 9/30/18 was 2.07%.
<b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - T Shares - JPMorgan SmartRetirement 2045 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS A SHARES 16.28% 9.94% 6.38%
CLASS A SHARES | Return After Taxes on Distributions 15.07% 8.74% 5.50%
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 9.87% 7.48% 4.81%
S&P TARGET DATE 2045 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 19.56% 11.15% 6.06%
LIPPER MIXED-ASSET TARGET 2045 FUNDS AVERAGE (Reflects No Deduction for Taxes) 20.35% 10.42% 5.76%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2045 Index was changed. Prior to 6/1/17, the S&P Target Date 2045 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2045 Index is comprised of underlying indices of securities.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 93 R207.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
T Shares | JPMorgan SmartRetirement 2045 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2045 Fund <br/>Class/Ticker: T/* </b><br/><br/><sup>*</sup> The share class is currently not offered to the public.
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 92 of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value <br/>of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 26% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 26.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Acquired Fund Fees and Expenses, Based on Estimates [Text] rr_AcquiredFundFeesAndExpensesBasedOnEstimates "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2045 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2045 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2045 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2045 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2045 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because Class T Shares have not yet commenced operations as of the date of this prospectus
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2045 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2045 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P index, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES </b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     19.13%   
Worst Quarter 4th quarter, 2008   -19.29%

The Fund’s year-to-date total return through 9/30/18 was 2.07%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. <br/><br/>The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
T Shares | JPMorgan SmartRetirement 2045 Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.03% [1]
Other Expenses rr_OtherExpensesOverAssets 0.28%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.03%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.14%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.89% [2]
1 Year rr_ExpenseExampleYear01 $ 339
3 Years rr_ExpenseExampleYear03 556
5 Years rr_ExpenseExampleYear05 791
10 Years rr_ExpenseExampleYear10 1,466
1 Year rr_ExpenseExampleNoRedemptionYear01 339
3 Years rr_ExpenseExampleNoRedemptionYear03 556
5 Years rr_ExpenseExampleNoRedemptionYear05 791
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,466
T Shares | JPMorgan SmartRetirement 2045 Fund | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
2008 rr_AnnualReturn2008 (33.80%) [3]
2009 rr_AnnualReturn2009 33.88% [3]
2010 rr_AnnualReturn2010 16.26% [3]
2011 rr_AnnualReturn2011 (5.03%) [3]
2012 rr_AnnualReturn2012 18.13% [3]
2013 rr_AnnualReturn2013 22.75% [3]
2014 rr_AnnualReturn2014 7.55% [3]
2015 rr_AnnualReturn2015 (1.79%) [3]
2016 rr_AnnualReturn2016 6.54% [3]
2017 rr_AnnualReturn2017 21.75% [3]
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 2.07%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter </b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 19.13%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter </b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.29%)
Past 1 Year rr_AverageAnnualReturnYear01 16.28%
Past 5 Years rr_AverageAnnualReturnYear05 9.94%
Past 10 Years rr_AverageAnnualReturnYear10 6.38%
T Shares | JPMorgan SmartRetirement 2045 Fund | Return After Taxes on Distributions | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 15.07%
Past 5 Years rr_AverageAnnualReturnYear05 8.74%
Past 10 Years rr_AverageAnnualReturnYear10 5.50%
T Shares | JPMorgan SmartRetirement 2045 Fund | Return After Taxes on Distributions and Sale of Fund Shares | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 9.87%
Past 5 Years rr_AverageAnnualReturnYear05 7.48%
Past 10 Years rr_AverageAnnualReturnYear10 4.81%
T Shares | JPMorgan SmartRetirement 2045 Fund | S&P TARGET DATE 2045 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 19.56% [4]
Past 5 Years rr_AverageAnnualReturnYear05 11.15% [4]
Past 10 Years rr_AverageAnnualReturnYear10 6.06% [4]
T Shares | JPMorgan SmartRetirement 2045 Fund | LIPPER MIXED-ASSET TARGET 2045 FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.35%
Past 5 Years rr_AverageAnnualReturnYear05 10.42%
Past 10 Years rr_AverageAnnualReturnYear10 5.76%
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
[4] On 6/1/17, the methodology used to calculate the S&P Target Date 2045 Index was changed. Prior to 6/1/17, the S&P Target Date 2045 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2045 Index is comprised of underlying indices of securities.
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T Shares | JPMorgan SmartRetirement 2050 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2050 Fund <br/>Class/Ticker: T/*</b> <br/><br/><sup>*</sup> The share class is currently not offered to the public.
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 92 of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees
T Shares
JPMorgan SmartRetirement 2050 Fund
Class T
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none
“Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Annual Fund Operating Expenses
T Shares
JPMorgan SmartRetirement 2050 Fund
Class T
Management Fees none
Distribution (Rule 12b-1) Fees 0.25%
Other Expenses 0.28%
Service Fees 0.25%
Remainder of Other Expenses 0.03% [1]
Acquired Fund (Underlying Fund) Fees and Expenses 0.50% [1]
Total Annual Fund Operating Expenses 1.03%
Fee Waivers and/or Expense Reimbursements (0.15%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements 0.88% [2]
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement 2050 Fund | CLASS T SHARES | USD ($) 338 555 790 1,465
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement 2050 Fund | CLASS T SHARES | USD ($) 338 555 790 1,465
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 25% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2050 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2050 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2050 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance</b>
This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2050 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2050 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES </b>
Bar Chart
[1] The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
Best Quarter 2nd quarter, 2009     19.00%   
Worst Quarter 4th quarter, 2008   -19.17%

The Fund’s year-to-date total return through 9/30/18 was 2.03%.
<b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - T Shares - JPMorgan SmartRetirement 2050 Fund
Past 1 Year
Past 5 Years
Past 10 Years
CLASS A SHARES 16.31% 9.94% 6.38%
CLASS A SHARES | Return After Taxes on Distributions 15.12% 8.73% 5.47%
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 9.88% 7.47% 4.79%
S&P TARGET DATE 2050 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 20.18% 11.48% 6.22%
LIPPER MIXED-ASSET TARGET 2050 FUNDS AVERAGE (Reflects No Deduction for Taxes) 20.34% 10.23% 5.56%
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2050 Index was changed. Prior to 6/1/17, the S&P Target Date 2050 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2050 Index is comprised of underlying indices of securities.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 96 R215.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
T Shares | JPMorgan SmartRetirement 2050 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2050 Fund <br/>Class/Ticker: T/*</b> <br/><br/><sup>*</sup> The share class is currently not offered to the public.
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 92 of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES <br/> (Expenses that you pay each year as a percentage of the value<br/> of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 25% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 25.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Acquired Fund Fees and Expenses, Based on Estimates [Text] rr_AcquiredFundFeesAndExpensesBasedOnEstimates "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2050 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2050 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2050 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITS are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance</b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years. It compares that performance to the S&P Target Date 2050 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2050 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. The table shows the average annual total returns for the past one year, five years and ten years.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because Class T Shares have not yet commenced operations as of the date of this prospectus
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2050 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2050 Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES </b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 2nd quarter, 2009     19.00%   
Worst Quarter 4th quarter, 2008   -19.17%

The Fund’s year-to-date total return through 9/30/18 was 2.03%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past ten calendar years. <br/><br/>The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
T Shares | JPMorgan SmartRetirement 2050 Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.03% [1]
Other Expenses rr_OtherExpensesOverAssets 0.28%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.03%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.15%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.88% [2]
1 Year rr_ExpenseExampleYear01 $ 338
3 Years rr_ExpenseExampleYear03 555
5 Years rr_ExpenseExampleYear05 790
10 Years rr_ExpenseExampleYear10 1,465
1 Year rr_ExpenseExampleNoRedemptionYear01 338
3 Years rr_ExpenseExampleNoRedemptionYear03 555
5 Years rr_ExpenseExampleNoRedemptionYear05 790
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,465
T Shares | JPMorgan SmartRetirement 2050 Fund | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
2008 rr_AnnualReturn2008 (33.78%) [3]
2009 rr_AnnualReturn2009 33.42% [3]
2010 rr_AnnualReturn2010 16.73% [3]
2011 rr_AnnualReturn2011 (5.02%) [3]
2012 rr_AnnualReturn2012 18.00% [3]
2013 rr_AnnualReturn2013 22.76% [3]
2014 rr_AnnualReturn2014 7.55% [3]
2015 rr_AnnualReturn2015 (1.79%) [3]
2016 rr_AnnualReturn2016 6.47% [3]
2017 rr_AnnualReturn2017 21.80% [3]
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 2.03%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter </b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 19.00%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter </b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.17%)
Past 1 Year rr_AverageAnnualReturnYear01 16.31%
Past 5 Years rr_AverageAnnualReturnYear05 9.94%
Past 10 Years rr_AverageAnnualReturnYear10 6.38%
T Shares | JPMorgan SmartRetirement 2050 Fund | Return After Taxes on Distributions | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 15.12%
Past 5 Years rr_AverageAnnualReturnYear05 8.73%
Past 10 Years rr_AverageAnnualReturnYear10 5.47%
T Shares | JPMorgan SmartRetirement 2050 Fund | Return After Taxes on Distributions and Sale of Fund Shares | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 9.88%
Past 5 Years rr_AverageAnnualReturnYear05 7.47%
Past 10 Years rr_AverageAnnualReturnYear10 4.79%
T Shares | JPMorgan SmartRetirement 2050 Fund | S&P TARGET DATE 2050 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.18% [4]
Past 5 Years rr_AverageAnnualReturnYear05 11.48% [4]
Past 10 Years rr_AverageAnnualReturnYear10 6.22% [4]
T Shares | JPMorgan SmartRetirement 2050 Fund | LIPPER MIXED-ASSET TARGET 2050 FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.34%
Past 5 Years rr_AverageAnnualReturnYear05 10.23%
Past 10 Years rr_AverageAnnualReturnYear10 5.56%
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund's investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
[4] On 6/1/17, the methodology used to calculate the S&P Target Date 2050 Index was changed. Prior to 6/1/17, the S&P Target Date 2050 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2050 Index is comprised of underlying indices of securities.
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T Shares | JPMorgan SmartRetirement 2055 Fund
<b>JPMorgan SmartRetirement<sup>®</sup> 2055 Fund</b> <br/><b>Class/Ticker: T/* </b><br/><br/><sup>*</sup> The share class is currently not offered to the public.
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 92 of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees
T Shares
JPMorgan SmartRetirement 2055 Fund
Class T
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none
“Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value <br/>of your investment)</b>
Annual Fund Operating Expenses
T Shares
JPMorgan SmartRetirement 2055 Fund
Class T
Management Fees none
Distribution (Rule 12b-1) Fees 0.25%
Other Expenses 0.30%
Service Fees 0.25%
Remainder of Other Expenses 0.05% [1]
Acquired Fund (Underlying Fund) Fees and Expenses 0.50% [1]
Total Annual Fund Operating Expenses 1.05%
Fee Waivers and/or Expense Reimbursements (0.17%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements 0.88% [2]
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement 2055 Fund | CLASS T SHARE | USD ($) 338 559 799 1,486
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement 2055 Fund | CLASS T SHARE | USD ($) 338 559 799 1,486
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 21% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2055 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2055 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2055 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITs are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance </b>
This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past five calendar years. The table shows the average annual total returns for the past one year, five years and life of the Fund. It compares that performance to the S&P Target Date 2055 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart
[1] The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
Best Quarter 4th quarter, 2013     7.52%   
Worst Quarter 3rd quarter, 2015   -7.69%

The Fund’s year-to-date total return through 9/30/18 was 2.08%.
<b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - T Shares - JPMorgan SmartRetirement 2055 Fund
Past 1 Year
Past 5 Years
Life of Fund
Inception Date
CLASS A SHARES 16.19% 9.95% 10.32% Jan. 31, 2012
CLASS A SHARES | Return After Taxes on Distributions 15.09% 8.98% 9.43% Jan. 31, 2012
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 9.71% 7.56% 7.96% Jan. 31, 2012
S&P TARGET DATE 2055 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 20.47% 11.70% 11.64%  
LIPPER MIXED-ASSET TARGET 2055+ FUNDS AVERAGE (Reflects No Deduction for Taxes) 20.99% 10.85% 10.89%  
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2055 Index was changed. Prior to 6/1/17, the S&P Target Date 2055 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2055 Index is comprised of underlying indices of securities.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 99 R223.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
T Shares | JPMorgan SmartRetirement 2055 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement<sup>®</sup> 2055 Fund</b> <br/><b>Class/Ticker: T/* </b><br/><br/><sup>*</sup> The share class is currently not offered to the public.
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 92 of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value <br/>of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 21% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 21.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Acquired Fund Fees and Expenses, Based on Estimates [Text] rr_AcquiredFundFeesAndExpensesBasedOnEstimates "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE: </b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2055 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2055 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2055 Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITs are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past five calendar years. The table shows the average annual total returns for the past one year, five years and life of the Fund. It compares that performance to the S&P Target Date 2055 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past five calendar years. The table shows the average annual total returns for the past one year, five years and life of the Fund.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because Class T Shares have not yet commenced operations as of the date of this prospectus
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2055 Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Average, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 4th quarter, 2013     7.52%   
Worst Quarter 3rd quarter, 2015   -7.69%

The Fund’s year-to-date total return through 9/30/18 was 2.08%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus the bar chart shows how the performance of the Fund’s Class A Shares (which are not offered in this prospectus) has varied from year to year for the past five calendar years.<br/><br/>The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
T Shares | JPMorgan SmartRetirement 2055 Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.05% [1]
Other Expenses rr_OtherExpensesOverAssets 0.30%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.50% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.05%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.17%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.88% [2]
1 Year rr_ExpenseExampleYear01 $ 338
3 Years rr_ExpenseExampleYear03 559
5 Years rr_ExpenseExampleYear05 799
10 Years rr_ExpenseExampleYear10 1,486
1 Year rr_ExpenseExampleNoRedemptionYear01 338
3 Years rr_ExpenseExampleNoRedemptionYear03 559
5 Years rr_ExpenseExampleNoRedemptionYear05 799
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,486
T Shares | JPMorgan SmartRetirement 2055 Fund | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
2013 rr_AnnualReturn2013 22.75% [3]
2014 rr_AnnualReturn2014 7.63% [3]
2015 rr_AnnualReturn2015 (1.78%) [3]
2016 rr_AnnualReturn2016 6.54% [3]
2017 rr_AnnualReturn2017 21.69% [3]
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 2.08%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2013
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 7.52%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2015
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (7.69%)
Past 1 Year rr_AverageAnnualReturnYear01 16.19%
Past 5 Years rr_AverageAnnualReturnYear05 9.95%
Life of Fund rr_AverageAnnualReturnSinceInception 10.32%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 31, 2012
T Shares | JPMorgan SmartRetirement 2055 Fund | Return After Taxes on Distributions | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 15.09%
Past 5 Years rr_AverageAnnualReturnYear05 8.98%
Life of Fund rr_AverageAnnualReturnSinceInception 9.43%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 31, 2012
T Shares | JPMorgan SmartRetirement 2055 Fund | Return After Taxes on Distributions and Sale of Fund Shares | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 9.71%
Past 5 Years rr_AverageAnnualReturnYear05 7.56%
Life of Fund rr_AverageAnnualReturnSinceInception 7.96%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 31, 2012
T Shares | JPMorgan SmartRetirement 2055 Fund | S&P TARGET DATE 2055 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.47% [4]
Past 5 Years rr_AverageAnnualReturnYear05 11.70% [4]
Life of Fund rr_AverageAnnualReturnSinceInception 11.64% [4]
T Shares | JPMorgan SmartRetirement 2055 Fund | LIPPER MIXED-ASSET TARGET 2055+ FUNDS AVERAGE (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.99%
Past 5 Years rr_AverageAnnualReturnYear05 10.85%
Life of Fund rr_AverageAnnualReturnSinceInception 10.89%
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
[4] On 6/1/17, the methodology used to calculate the S&P Target Date 2055 Index was changed. Prior to 6/1/17, the S&P Target Date 2055 Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2055 Index is comprised of underlying indices of securities.
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T Shares | JPMorgan SmartRetirement 2060 Fund
<b>JPMorgan SmartRetirement 2060 Fund<br/>Class/Ticker: T/* </b><br/><br/><sup>*</sup> The share class is currently not offered to the public.
<b>What is the goal of the Fund? </b>
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.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 92 of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees
T Shares
JPMorgan SmartRetirement 2060 Fund
Class T
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares none
“Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value <br/>of your investment)</b>
Annual Fund Operating Expenses
T Shares
JPMorgan SmartRetirement 2060 Fund
Class T
Management Fees none
Distribution (Rule 12b-1) Fees 0.25%
Other Expenses 1.02%
Service Fees 0.25%
Remainder of Other Expenses 0.77% [1]
Acquired Fund (Underlying Fund) Fees and Expenses 0.49% [1]
Total Annual Fund Operating Expenses 1.76%
Fee Waivers and/or Expense Reimbursements (0.88%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements 0.88% [2]
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement 2060 Fund | CLASS T SHARES | USD ($) 338 707 1,100 2,200
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
T Shares | JPMorgan SmartRetirement 2060 Fund | CLASS T SHARES | USD ($) 338 707 1,100 2,200
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 39% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The JPMorgan SmartRetirement® 2060 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2060 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2060+ Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITs are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance</b>
This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows the performance of the Fund’s Class A Shares (which are not offered in this prospectus) for the past calendar year. The table shows the average annual total returns for the past one year and life of the Fund. It compares that performance to the S&P Target Date 2060+ Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Index, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart
[1] The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
Best Quarter    1st quarter, 2017         6.15%   
Worst Quarter   

2nd quarter, 2017

     3.74%   

The Fund’s year-to-date total return through 9/30/18 was 2.18%.
<b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - T Shares - JPMorgan SmartRetirement 2060 Fund
Past 1 Year
Life of Fund
Inception Date
CLASS A SHARES 16.12% 13.33% Aug. 31, 2016
CLASS A SHARES | Return After Taxes on Distributions 15.44% 12.52% Aug. 31, 2016
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 9.38% 9.98% Aug. 31, 2016
S&P TARGET DATE 2060+ INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) [1] 20.75% 17.59%  
LIPPER MIXED-ASSET TARGET 2055+ FUNDS INDEX (Reflects No Deduction for Taxes) 22.08% 17.42%  
[1] On 6/1/17, the methodology used to calculate the S&P Target Date 2060+ Index was changed. Prior to 6/1/17, the S&P Target Date 2060+ Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2060+ Index is comprised of underlying indices of securities.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 102 R231.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
T Shares | JPMorgan SmartRetirement 2060 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan SmartRetirement 2060 Fund<br/>Class/Ticker: T/* </b><br/><br/><sup>*</sup> The share class is currently not offered to the public.
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund? </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock 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.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 92 of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value <br/>of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 39% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 39.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock “Acquired Fund (Underlying Fund) Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund (Underlying Fund) Fees and Expenses is included in the total returns of the Fund. Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class T Shares if you invest at least $250,000 in the Fund.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Acquired Fund Fees and Expenses, Based on Estimates [Text] rr_AcquiredFundFeesAndExpensesBasedOnEstimates "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund (Underlying Fund) Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The JPMorgan SmartRetirement® 2060 Fund is a “fund of funds” that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2060 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Fund’s asset allocation strategy will change. The “glide path” depicted in the chart below shows how the Fund’s strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form.

chart

Strategic Target Allocations1
Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10
Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0%
U.S. Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8%
U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7%
REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2%
International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8%
Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6%
Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0%
U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5%
Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0%
High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1%
Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Money Market Funds/Cash and
Cash Equivalents
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%

Note: Above allocations may not sum up to 100% due to rounding.

1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

The glide path shows the Fund’s long term strategic target allocations as of November 1, 2018. The Fund’s actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Fund’s strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2060+ Index (the Fund’s benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.

The Adviser will review the Fund’s strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, 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. Consistent with this strategy, the Fund’s strategic target allocations shown in the glide path and table above may be different from the Fund’s actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes. Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for equity and fixed income, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion.

As a result of the Adviser’s ability to make these modifications, the Fund’s actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Fund’s strategic target allocations and actual allocations to underlying funds and investments is available in the Fund’s shareholder reports and on the Fund’s website from time to time.

The Fund is a “to” target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Fund’s Board of Trustees.

In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P. Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds.

The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns. For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the Adviser’s expectations regarding particular instruments or markets are not met. The Fund is exposed to the risks summarized below through both its investments in underlying funds and its direct investments.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investment Risk. The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor. Meeting your retirement goals is dependent upon many factors including the amount you save and the period over which you do so. You should consider your expected retirement date, individual retirement needs (i.e., how much money you expect to need), other expected income after retirement, inflation, other assets, and risk tolerance in choosing whether to invest in the Fund. Your risk tolerance may change over time and the Adviser may change the Fund’s strategic target allocation model. It is important that you re-evaluate your investment in the Fund periodically.

Investments in Mutual Funds Risk. The Fund invests in other underlying funds that are mutual funds as a primary strategy, so the Fund’s investment performance and risks are directly related to the performance and risks of the underlying funds. Shareholders will indirectly bear the expenses charged by the underlying funds. Because the Fund’s Adviser or its affiliates provide services to and receive fees from the underlying funds, the Fund’s investments in the underlying funds benefit the Adviser and/or its affiliates. In addition, the Fund may hold a significant percentage of the shares of an underlying fund. As a result, the Fund’s investments in an underlying fund may create a conflict of interest. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated ETFs creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds.

Tactical Allocation Risk. The Adviser has discretion to make short to intermediate term tactical allocations that increase or decrease the exposure to asset classes and investments shown in the glide path. The Fund’s tactical allocation strategy may not be successful in adding value, may increase losses to the Fund and/or cause the Fund to have a risk profile different than that portrayed in the glide path from time to time.

Equity Securities Risk. Investments in equity securities (such as stocks) are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Fund’s or the underlying fund’s portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of such securities goes down, the Fund’s investment decreases in value.

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in some of the underlying funds may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. Investments in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, sanctions or other measures by the United States or other governments, liquidity risks, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” an underlying fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Income Securities Risk. Investments in income securities are subject to interest rate risk and credit risk. The Fund’s exposure to bonds and other debt securities will change in value based on changes in interest rates. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. Certain underlying funds invest in variable and floating rate loan assignments and participations (Loans) and other variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate Loans and other securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Income securities are also subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

Certain underlying funds invest in mortgage-related and asset-backed securities including so-called “sub-prime” mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Mortgage-related and asset-backed securities may decline in value, face valuation difficulties, be more volatile and/or be illiquid. The risk of default for “sub-prime” mortgages is generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt securities.

Some of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of principal and interest. This would result in losses to an underlying fund. Securities issued by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government-related organizations may not have the funds to meet their payment obligations in the future.

The issuer of certain securities may repay principal in advance, especially when yields fall. Changes in the rate at which prepayments occur can affect the return on investment of these securities. When debt obligations are prepaid or when securities are called, the Fund or underlying fund also may fail to recover additional amounts (i.e., premiums) paid for securities with higher coupons, resulting in an unexpected capital loss.

High Yield Securities and Loan Risk. Certain underlying funds invest in junk bonds, Loans and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments are considered to be speculative and may be subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information. High yield securities and Loans that are deemed to be liquid at the time of purchase may become illiquid.

No active trading market may exist for some instruments and certain investments may be subject to restrictions on resale. In addition, the settlement period for Loans is uncertain as there is no standardized settlement schedule applicable to such investments. Certain Loans may take more than seven days to settle. The inability to dispose of the underlying fund’s securities and other investments in a timely fashion could result in losses to the Fund and underlying fund. Because some instruments may have a more limited secondary market, liquidity and valuation risk is more pronounced for certain underlying funds than for underlying funds that invest primarily in other types of fixed income instruments or equity securities. When Loans and other instruments are prepaid, an underlying fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for these securities, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. Certain Loans may not be considered securities under the federal securities laws and, therefore, investments in such Loans may not be subject to certain protections under those laws. In addition, the adviser may not have access to material non-public information to which other investors may have access.

Real Estate Securities Risk. The Fund may be exposed through its direct investments or investments in underlying funds to real estate securities, including real estate investment trusts (REITs). These securities are subject to the same risks as direct investments in real estate and mortgages, which include, but are not limited to, sensitivity to changes in real estate values and property taxes, interest rate risk, tax and regulatory risk, fluctuations in rent schedules and operating expenses, adverse changes in local, regional or general economic conditions, deterioration of the real estate market and the financial circumstances of tenants and sellers, unfavorable changes in zoning, building, environmental and other laws, the need for unanticipated renovations, unexpected increases in the cost of energy, environmental factors and, in the case of mortgages, credit risk, prepayment risk and extension risk. In addition, investments in REITs are subject to risks associated with management skill and creditworthiness of the issuer and underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the underlying funds. Certain underlying funds are highly concentrated in real estate securities, including REITs.

Smaller Company Risk. Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. The securities of smaller companies may trade less frequently and in smaller volumes than securities of larger companies. As a result, changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.

Derivatives Risk. The underlying funds and the Fund may use derivatives, including futures contracts and exchange traded futures. Derivatives may be riskier than other investments and may increase the volatility of the Fund and the underlying funds. Derivatives may be sensitive to changes in economic and market conditions and may create leverage, which could result in losses that significantly exceed the Fund’s or an underlying fund’s original investment. Certain derivatives expose the Fund and the underlying funds to counterparty risk, which is the risk that the derivative counterparty will not fulfill its contractual obligation (including credit risk associated with the counterparty). Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or the underlying fund do not have a claim on the reference assets and are subject to enhanced counterparty risk. Derivatives may not perform as expected, so the Fund and the underlying funds may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the security or other risk being hedged. In addition, given their complexity, derivatives expose the Fund and underlying funds to risks of mispricing or improper valuation.

Commodity Risk. Exposure to commodities, commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Inflation Managed Strategy Risk. The Fund may invest in underlying funds that utilize derivatives and debt securities to mimic a portfolio of inflation-protected bonds. There is no guarantee that this strategy will be effective. In addition, the Fund may be exposed to inflation-protected securities. Unlike conventional bonds, the principal and interest payments on inflation-protected securities such as Treasury Inflation Protected Securities (TIPS) are adjusted periodically to a specified rate of inflation (i.e., Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U)). Exposure to TIPS and other inflation-linked debt securities are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). In general, the price of a TIPS tends to decline when real interest rates increase.

Securities and Financial Instruments Risk. The Fund’s direct investments in securities and financial instruments are subject to additional risks specific to their structure, sector or market (e.g., futures and swaps on foreign securities are subject to foreign investment, emerging market and derivative risks; debt securities are subject to credit risk).

Industry and Sector Focus Risk. At times the underlying funds and the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds and the Fund increase the relative emphasis of its investments in a particular industry or sector, its shares’ values may fluctuate in response to events affecting that industry or sector.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance</b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. Because Class T Shares have not yet commenced operations as of the date of this prospectus, the bar chart shows the performance of the Fund’s Class A Shares (which are not offered in this prospectus) for the past calendar year. The table shows the average annual total returns for the past one year and life of the Fund. It compares that performance to the S&P Target Date 2060+ Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Index, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganfunds.com or by calling 1-800-480-4111. The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns the bar chart shows the performance of the Fund’s Class A Shares (which are not offered in this prospectus) for the past calendar year. The table shows the average annual total returns for the past one year and life of the Fund.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because Class T Shares have not yet commenced operations as of the date of this prospectus
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex It compares that performance to the S&P Target Date 2060+ Index, a broad-based securities market index, and the Lipper Mixed-Asset Target 2055+ Funds Index, an index based on the total returns of all mutual funds within the Fund’s designated category as determined by Lipper. Unlike the S&P indexes, the Lipper index includes the fees and expenses of the mutual funds included in the index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge, which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter    1st quarter, 2017         6.15%   
Worst Quarter   

2nd quarter, 2017

     3.74%   

The Fund’s year-to-date total return through 9/30/18 was 2.18%.
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus the bar chart shows the performance of the Fund’s Class A Shares (which are not offered in this prospectus) for the past calendar year.<br/><br/>The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
T Shares | JPMorgan SmartRetirement 2060 Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as % of Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) as % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets none
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.77% [1]
Other Expenses rr_OtherExpensesOverAssets 1.02%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.49% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.76%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.88%) [2]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.88% [2]
1 Year rr_ExpenseExampleYear01 $ 338
3 Years rr_ExpenseExampleYear03 707
5 Years rr_ExpenseExampleYear05 1,100
10 Years rr_ExpenseExampleYear10 2,200
1 Year rr_ExpenseExampleNoRedemptionYear01 338
3 Years rr_ExpenseExampleNoRedemptionYear03 707
5 Years rr_ExpenseExampleNoRedemptionYear05 1,100
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,200
T Shares | JPMorgan SmartRetirement 2060 Fund | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
2017 rr_AnnualReturn2017 21.59% [3]
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 2.18%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2017
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 6.15%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Jun. 30, 2017
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn 3.74%
Past 1 Year rr_AverageAnnualReturnYear01 16.12%
Life of Fund rr_AverageAnnualReturnSinceInception 13.33%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2016
T Shares | JPMorgan SmartRetirement 2060 Fund | Return After Taxes on Distributions | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 15.44%
Life of Fund rr_AverageAnnualReturnSinceInception 12.52%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2016
T Shares | JPMorgan SmartRetirement 2060 Fund | Return After Taxes on Distributions and Sale of Fund Shares | CLASS A SHARES  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 9.38%
Life of Fund rr_AverageAnnualReturnSinceInception 9.98%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2016
T Shares | JPMorgan SmartRetirement 2060 Fund | S&P TARGET DATE 2060+ INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 20.75% [4]
Life of Fund rr_AverageAnnualReturnSinceInception 17.59% [4]
T Shares | JPMorgan SmartRetirement 2060 Fund | LIPPER MIXED-ASSET TARGET 2055+ FUNDS INDEX (Reflects No Deduction for Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 22.08%
Life of Fund rr_AverageAnnualReturnSinceInception 17.42%
[1] "Remainder of Other Expenses" and "Acquired Fund (Underlying Fund) Fees and Expenses" are based on estimated amounts for the current fiscal year.
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund (Underlying Fund) Fees and Expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 0.39% of the average daily net assets of the Class T Shares. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] The performance of Class T Shares would be substantially similar to the performance of Class A Shares because the Fund is invested in the same group of securities and the annual returns would differ only to the extent that the classes do not have the same expenses.
[4] On 6/1/17, the methodology used to calculate the S&P Target Date 2060+ Index was changed. Prior to 6/1/17, the S&P Target Date 2060+ Index was comprised of ETFs, adjusted to remove the impact of ETF fees. Effective 6/1/17, the S&P Target Date 2060+ Index is comprised of underlying indices of securities.
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A, C, I Shares | JPMorgan Access Balanced Fund
<b>JPMorgan Access Balanced Fund <br/>Class/Ticker: A/JXBAX; C/JXBCX; I/JXBSX</b>
<b>What is the goal of the Fund?</b>
The Fund seeks total return.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $100,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 46 and in “Financial Intermediary-Specific Sales Charge Waivers” in Appendix A of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees - A, C, I Shares - JPMorgan Access Balanced Fund
Class A
Class C
Class I
Maximum Sales Charge (Load) Imposed on Purchases as a % of the Offering Price 4.50% none none
Maximum Deferred Sales Charge (Load) as a % of Original Cost of the Shares none [1] 1.00% none
[1] (under $1 million)
“Acquired Fund Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund Fees and Expenses is included in the total returns of the Fund. Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value <br/>of your investment)</b>
Annual Fund Operating Expenses - A, C, I Shares - JPMorgan Access Balanced Fund
Class A
Class C
Class I
Management Fees [1],[2] 0.75% 0.75% 0.75%
Distribution (Rule 12b-1) Fees 0.25% 0.75% none
Other Expenses 0.44% 0.41% 0.41%
Service Fees [2] 0.25% 0.25% 0.25%
Remainder of Other Expenses 0.19% 0.16% 0.16%
Acquired Fund (Underlying Fund) Fees and Expenses 0.31% 0.31% 0.31%
Total Annual Fund Operating Expenses 1.75% 2.22% 1.47%
Fee Waivers and/or Expense Reimbursements [1],[2],[3] (0.37%) (0.37%) (0.37%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1],[2],[3] 1.38% 1.85% 1.10%
[1] J.P. Morgan Investment Management Inc. and J.P. Morgan Private Investments, Inc. have contractually agreed to waive the investment advisory fee for the Fund by 0.30%. This contract is in effect through 10/31/19.
[2] The shares of the affiliated underlying funds in which the Fund invests a portion of its assets impose a separate investment advisory fee and a service fee. To avoid charging an investment advisory fee and a service fee at an effective rate above 0.45% for investment advisory services and 0.25% for Class A, Class C and Class I Shares for shareholder servicing on affiliated investments, the investment adviser and shareholder servicing agent have contractually agreed to waive a portion of the investment advisory and service fees charged by the underlying funds. This contract is in effect through 10/31/19. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] The Fund’s adviser has contractually agreed to waive the advisory fee that it receives from the Fund in an amount equal to the advisory fee paid by Access Balanced Fund CS Ltd., the Fund’s wholly-owned subsidiary, to its adviser. This waiver will continue in effect so long as the Fund invests in the subsidiary and may not be terminated without approval by the Fund’s Board of Trustees.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example - A, C, I Shares - JPMorgan Access Balanced Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 584 942 1,323 2,390
CLASS C SHARES 288 659 1,156 2,526
CLASS I SHARES 112 428 768 1,726
<b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST <br/>WOULD BE:</b>
Expense Example, No Redemption - A, C, I Shares - JPMorgan Access Balanced Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 584 942 1,323 2,390
CLASS C SHARES 188 659 1,156 2,526
CLASS I SHARES 112 428 768 1,726
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 26% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The Fund invests in a combination of domestic and international equity, fixed income, and alternative assets, as described below. The Fund invests in mutual funds and exchange-traded funds (ETFs) in the same group of investment companies (i.e., J.P. Morgan Funds). The Fund also invests in open-end and closed-end investment companies (which may or may not be registered under the Investment Company Act of 1940, as amended) and ETFs that are managed by unaffiliated investment advisers (collectively, unaffiliated funds) and directly in individual securities. In addition, to the extent permitted by applicable law or the exemptive relief obtained from the Securities and Exchange Commission (SEC), the Fund invests directly in other financial instruments, including derivatives, such as futures, swaps and structured investments, to gain exposure to, or to overweight or underweight allocations among, various sectors or markets.

The Fund’s adviser is J.P. Morgan Investment Management Inc. (JPMIM or the Adviser) and it sets the Fund’s overall investment strategies. The Fund is managed by J.P. Morgan Private Investments Inc. (JPMPI). JPMPI utilizes an allocation process (Strategic Asset Allocations) to invest the Fund’s assets across the various asset classes and with various sub-advisers. JPMPI and JPMIM use rigorous criteria to select sub-advisers and underlying fund managers to manage certain portions of the Fund’s assets. In choosing whether to buy or sell an investment and to set their allocations, JPMPI considers the following factors: (1) market trends, (2) JPMPI’s outlook for a market capitalization or investment style category, and (3) an underlying fund manager’s performance in various market conditions. JPMPI will also consider the advantages and disadvantages to the Fund of using actively versus passively managed investment vehicles. By combining the strengths of different sub-advisers and underlying fund managers, the Fund seeks to benefit from a variety of investment selection processes and methodologies to achieve its investment objective.

The descriptions below include both the range that the Fund may invest within a particular asset class and the various investments that the Fund may use to gain exposure to such asset class. JPMPI frequently monitors and may make tactical changes to the Strategic Asset Allocations, including shifts among the various asset classes and allocations to the other sub-advisers and underlying fund managers.

U.S. and International Equity: The allocation range will typically be 30%–75% of the Fund’s total assets. The Fund’s equity-related investments consist of J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class are: common stock, preferred stock, structured investments, convertible securities, depositary receipts and warrants to buy common stocks. The Fund invests in foreign and emerging market securities.

U.S. and International Fixed Income: The allocation range will typically be 25%–60% of the Fund’s total assets. The Fund’s fixed income investments include J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class include: U.S. government securities (including agencies and instrumentalities), municipal bonds (including housing authority obligations), domestic and foreign corporate bonds, high yield securities (junk bonds), loan participations and assignments, debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions, mortgage-backed and asset-backed securities, inflation-indexed bonds and Treasury Inflation Protected Securities (TIPS).

Alternative: The allocation range will typically be 0%–30% of the Fund’s total assets. The Fund’s alternative-related investments include J.P. Morgan Funds and unaffiliated funds. Whether investing through a mutual fund or directly in securities, the investments in this asset class give the Fund exposure to: market neutral strategies, absolute return strategies, directional strategies, real estate (including REITs), private equity, mezzanine debt and commodities.

The Fund will gain exposure to commodity markets primarily by investing in the Access Balanced Fund CS Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the Subsidiary). The allocation range will typically be 0%–10% of the Fund’s total assets. The Subsidiary is advised by JPMIM and sub-advised by JPMPI. The Subsidiary (unlike the Fund) may invest without limitation in commodity-linked structured notes and other commodity-linked derivative instruments, including derivative instruments linked to the value of a particular commodity or commodity futures contract, or a subset of commodities or commodity futures contracts. However, the Subsidiary is otherwise subject to the same fundamental, non-fundamental and certain other investment restrictions as the Fund. The Subsidiary may use derivatives to obtain long exposure in an attempt to increase the Subsidiary’s income or gain, to hedge various investments and for risk management.

The Fund and the Subsidiary may invest in ETFs, including both JPMorgan ETFs and unaffiliated funds, in order to gain exposure to particular asset classes. An ETF is a registered investment company, depositary receipt or other pooled investment vehicle that typically seeks to track the performance of a particular market index or security. These indexes include not only broad-based market indexes but more specific indexes as well, including those relating to particular sectors, markets, regions or industries.

Ordinarily, the Fund’s investment in a single unaffiliated ETF is limited to 5% of its total assets and in all unaffiliated ETFs to 10% of its total assets. The SEC has issued exemptive orders to many ETFs that allow any fund investing in such ETFs to disregard these 5% and 10% limitations. The Fund intends to invest in unaffiliated ETFs that have received such exemptive orders and it may invest any amount of its total assets in a single ETF or in multiple ETFs.

Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund uses structured notes as tools in the management of portfolio assets. In particular, the Fund uses structured notes for risk management and to increase the Fund’s income or gain. To the extent that the Fund invests in underlying funds, such underlying funds may also use derivatives.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the adviser’s expectations regarding particular instruments or markets are not met.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investments in Mutual Funds and ETFs Risk. The Fund’s investments are concentrated in J.P. Morgan Funds and unaffiliated funds, so the Fund’s investment performance is directly related to the performance of the underlying funds. Shareholders will indirectly bear the expenses incurred by the underlying funds. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated funds creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. The price movement of an index-based ETF may not track the underlying index and may result in a loss. ETFs and closed-end investment companies may trade at a price below their net asset value (also known as a discount).

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund’s portfolio may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. The Fund and certain of the underlying funds that invest in foreign issuers and foreign securities (including depositary receipts) are subject to additional risks, including political and economic risks, civil conflicts and war, greater volatility, expropriation and nationalization risks, sanctions or other measures by the United States or other governments, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” the Fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. These risks are magnified in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Country and Region Risk. Some of the underlying funds concentrate their investments in securities of a single country or region (e.g., China Region or Latin America). Because these underlying funds concentrate their investments in a single country or region, their performance may be more volatile than that of a fund that can invest globally.

Industry and Sector Focus Risk. At times the underlying funds or the Fund may increase the relative emphasis of their investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds or the Fund increase the relative emphasis of their investments in a particular industry or sector, their shares’ values may fluctuate in response to events affecting that industry or sector.

Currency Risk. The Fund and certain of the underlying funds are subject to risks associated with foreign currency. Certain underlying funds are not required to hedge their non-dollar investments back to the U.S. dollar for defensive purposes. As a result, changes in foreign currency exchange rates will affect the value of certain underlying funds’ securities and the price of the underlying funds’ shares. Generally, when the value of the U.S. dollar rises in value relative to a foreign currency, an investment in that country loses value because that currency is worth fewer U.S. dollars. Devaluation of a currency by a country’s government or banking authority also will have a significant impact on the value of any investments denominated in that currency. Currency markets generally are not as regulated as securities markets, may be riskier than other types of investments and may increase the volatility of the Fund.

Equity Securities Risk. The Fund and certain of the underlying funds invest in equity securities (such as stocks) that are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. When the value of the stocks held by the Fund or an underlying fund goes down, the value of your investment in the Fund decreases in value.

Fixed Income Securities Risk. Some of the underlying funds invest in fixed income securities. These securities will increase or decrease in value based on changes in interest rates and are subject to the risk that an issuer or a counterparty will fail to make payments when due or default. If an issuer’s or a counterparty’s financial condition worsens, the credit quality of the issuer or counterparty may deteriorate making it difficult for the underlying fund to sell such investments. If rates increase, the value of these investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. When the value of investments in the Fund or underlying fixed income funds goes down, the value of your investment in the Fund will be affected. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Credit Risk. The Fund’s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

High Yield Securities Risk. Certain of the underlying funds may invest in instruments that are issued by companies which are highly leveraged, less creditworthy or financially distressed. These investments (known as junk bonds) are considered to be speculative and are subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information.

Real Estate Securities Risk. Certain of the underlying funds may invest in real estate securities, including real estate investment trusts (REITs), which are subject to the same risks as direct investments in real estate and mortgages, and their value will depend on the value of the underlying real estate interests. These risks include default, prepayments, changes in value resulting from changes in interest rates and demand for real and rental property, and the management skill and creditworthiness of REIT issuers. The underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which it invests in addition to the expenses of the underlying fund.

Commodity Risk. Certain underlying funds have exposure to commodities. Exposure to commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Derivatives Risk. The Fund and certain of the underlying funds may use derivatives in connection with their investment strategies. Derivatives, including futures, swaps and structured investments, may be riskier than other types of investments because they may be more sensitive to changes in economic or market conditions and could result in losses that significantly exceed the Fund’s original investment. Many derivatives create leverage thereby causing the Fund to be more volatile than it would have been if it had not used derivatives. Certain derivatives also expose the Fund and the underlying funds to counterparty risk (the risk that the derivative counterparty will not fulfill its contractual obligations), including credit risk of the derivative counterparty. Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or underlying funds do not have a claim on the reference assets and are subject to enhanced counterparty risk. Certain of the Fund’s transactions in foreign currency derivatives and other derivatives could also affect the amount, timing and character of distributions to shareholders which may result in the Fund realizing more short-term capital gain and ordinary income subject to tax at ordinary income tax rates than it would if it did not engage in such transactions, which may adversely impact the Fund’s after-tax returns. In addition, the Fund and certain of the underlying funds may use derivatives for non-hedging purposes, which increases the Fund’s or the underlying funds’ potential for loss.

Structured Note Risk. The Fund, or certain of the underlying funds, invest in commodity, currency, equity and fixed income linked structured notes. Structured notes are typically privately negotiated transactions between two or more parties. The fees associated with a structured note may lead to increased tracking error. The Fund also bears the risk that the issuer of the structured note will default. The Fund bears the risk of loss of its principal investment and periodic payments expected to be received for the duration of its investment. In addition, a liquid market may not exist for the structured notes. The lack of a liquid market may make it difficult to sell the structured notes at an acceptable price or to accurately value them.

Index Investing Risk. Certain of the underlying funds, including ETFs, in which the Fund may invest are index funds. Index funds are not actively managed and are designed to track the performance and holdings of a specified index. Securities may be purchased, held and sold by an index fund at times when an actively managed fund would not do so. There is also the risk that the underlying fund’s performance may not correlate with the performance of the index.

Preferred Stock Risk. The Fund and certain underlying funds may invest in preferred stock. Preferred stock generally has a preference as to dividends and liquidation over an issuer’s common stock but ranks junior to debt securities in an issuer’s capital structure. Unlike interest payments on debt securities, preferred stock dividends are payable only if declared by the issuer’s board of directors. Preferred stock also may be subject to optional or mandatory redemption provisions.

Government Securities Risk. The Fund and certain of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), or the Federal Home Loan Mortgage Corporation (Freddie Mac)). U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of interest or principal. This would result in losses to the Fund. Securities issued or guaranteed by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government related organizations may not have the funds to meet their payment obligations in the future. U.S. government securities include zero coupon securities, which tend to be subject to greater market risk than interest-paying securities of similar maturities.

High Portfolio Turnover Risk. The Fund may engage in active and frequent trading leading to increased portfolio turnover, higher transaction costs, and the possibility of increased capital gains, including short-term capital gains that will generally be taxable to shareholders as ordinary income.

Subsidiary Risk. By investing in the Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary’s investments. The derivatives and other investments held by the Subsidiary are generally similar to those that are permitted to be held by the Fund and are subject to the same risks that apply to similar investments if held directly by the Fund. These risks are described elsewhere in this prospectus. There can be no assurance that the investment objective of the Subsidiary will be achieved. The Subsidiary is not registered under the Investment Company Act of 1940 (1940 Act), and, unless otherwise noted in this prospectus, is not subject to all the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands could result in the inability of the Fund and/or the Subsidiary to operate as described in this prospectus and could adversely affect the Fund.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance</b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund. The table compares that performance to the Access Balanced Composite Benchmark, a customized benchmark, the Bloomberg Barclays Global Aggregate Index - Hedged USD, a broad-based securities market index, the MSCI World Index (net of foreign withholding taxes), a broad-based securities market index, and the S&P 500 Index, a broad-based securities market index. Since January 1, 2018, the Access Balanced Composite Benchmark is a composite benchmark comprised of unmanaged indexes that corresponds to the Fund’s model allocation and that consists of the MSCI World Index (net of foreign withholding taxes) (55%), Bloomberg Barclays Global Aggregate Index Hedged (40%), and HFRX Global Hedge Fund Index (5%). From July 1, 2016 until December 31, 2017, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (55%), Bloomberg Barclays Global Aggregate Index (35%), Bloomberg Barclays T-Bill 1-3 Month (5%), and HFRX Global Hedge Fund Index (5%). From April 1, 2013 until June 30, 2016, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (50%), Bloomberg Barclays U.S. Aggregate Index (35%), Citigroup 3-Month Treasury Bill Index (5%), Bloomberg Commodity Index (5%) and HFRX Global Hedge Fund Index (5%). From July 1, 2011 until April 1, 2013, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (50%), Bloomberg Barclays U.S. Aggregate Index (35%) and Citigroup 3-Month Treasury Bill Index (15%). From the inception date of September 30, 2009 to July 1, 2011, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (55%), Bloomberg Barclays Capital U.S. Aggregate Index (35%) and Citigroup 3-Month Treasury Bill Index (10%). The performance of Class C Shares is based on the performance of Class A Shares prior to their inception. The actual return of the Class C Shares would have been lower than shown because the Class C Shares have higher expenses than Class A Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganaccessfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES </b>
Bar Chart
Best Quarter 3rd quarter, 2010     7.71%   
Worst Quarter 3rd quarter, 2011   -11.01%

The Fund’s year-to-date total return through 9/30/18 was 2.44%.
<b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - A, C, I Shares - JPMorgan Access Balanced Fund
Past 1 Year
Past 5 Years
Life of Fund
Inception Date
CLASS A SHARES 8.27% 4.54% 4.44% Sep. 30, 2009
CLASS A SHARES | Return After Taxes on Distributions 6.46% 3.14% 3.34% Sep. 30, 2009
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 5.70% 3.16% 3.19% Sep. 30, 2009
CLASS C SHARES 11.79% 4.98% 4.52% Sep. 30, 2009
CLASS I SHARES 13.67% 5.78% 5.30% Sep. 30, 2009
ACCESS BALANCED COMPOSITE BENCHMARK (Reflects No Deduction for Fees, Expenses, or Taxes) 13.36% 6.55% 6.49%  
BLOOMBERG BARCLAYS GLOBAL AGGREGATE INDEX - HEDGED USD (Reflects No Deduction for Fees, Expenses, or Taxes) 3.04% 3.06% 3.79%  
MSCI WORLD INDEX (Net of Foreign Withholding Taxes) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes) 22.40% 11.64% 10.07%  
S&P 500 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) 21.83% 15.79% 14.28%  
After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. In some cases, the “Return After Taxes on Distributions and Sale of Fund Shares” may exceed the “Return Before Taxes” due to an assumed benefit from any losses on a sale of shares at the end of the measurement period.
XML 105 R239.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
A, C, I Shares | JPMorgan Access Balanced Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan Access Balanced Fund <br/>Class/Ticker: A/JXBAX; C/JXBCX; I/JXBSX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund?</b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Fund seeks total return.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $100,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 46 and in “Financial Intermediary-Specific Sales Charge Waivers” in Appendix A of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES <br/>(Expenses that you pay each year as a percentage of the value <br/>of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 26% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 26.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock “Acquired Fund Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund Fees and Expenses is included in the total returns of the Fund. Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $100,000 in the J.P. Morgan Funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST <br/>WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests in a combination of domestic and international equity, fixed income, and alternative assets, as described below. The Fund invests in mutual funds and exchange-traded funds (ETFs) in the same group of investment companies (i.e., J.P. Morgan Funds). The Fund also invests in open-end and closed-end investment companies (which may or may not be registered under the Investment Company Act of 1940, as amended) and ETFs that are managed by unaffiliated investment advisers (collectively, unaffiliated funds) and directly in individual securities. In addition, to the extent permitted by applicable law or the exemptive relief obtained from the Securities and Exchange Commission (SEC), the Fund invests directly in other financial instruments, including derivatives, such as futures, swaps and structured investments, to gain exposure to, or to overweight or underweight allocations among, various sectors or markets.

The Fund’s adviser is J.P. Morgan Investment Management Inc. (JPMIM or the Adviser) and it sets the Fund’s overall investment strategies. The Fund is managed by J.P. Morgan Private Investments Inc. (JPMPI). JPMPI utilizes an allocation process (Strategic Asset Allocations) to invest the Fund’s assets across the various asset classes and with various sub-advisers. JPMPI and JPMIM use rigorous criteria to select sub-advisers and underlying fund managers to manage certain portions of the Fund’s assets. In choosing whether to buy or sell an investment and to set their allocations, JPMPI considers the following factors: (1) market trends, (2) JPMPI’s outlook for a market capitalization or investment style category, and (3) an underlying fund manager’s performance in various market conditions. JPMPI will also consider the advantages and disadvantages to the Fund of using actively versus passively managed investment vehicles. By combining the strengths of different sub-advisers and underlying fund managers, the Fund seeks to benefit from a variety of investment selection processes and methodologies to achieve its investment objective.

The descriptions below include both the range that the Fund may invest within a particular asset class and the various investments that the Fund may use to gain exposure to such asset class. JPMPI frequently monitors and may make tactical changes to the Strategic Asset Allocations, including shifts among the various asset classes and allocations to the other sub-advisers and underlying fund managers.

U.S. and International Equity: The allocation range will typically be 30%–75% of the Fund’s total assets. The Fund’s equity-related investments consist of J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class are: common stock, preferred stock, structured investments, convertible securities, depositary receipts and warrants to buy common stocks. The Fund invests in foreign and emerging market securities.

U.S. and International Fixed Income: The allocation range will typically be 25%–60% of the Fund’s total assets. The Fund’s fixed income investments include J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class include: U.S. government securities (including agencies and instrumentalities), municipal bonds (including housing authority obligations), domestic and foreign corporate bonds, high yield securities (junk bonds), loan participations and assignments, debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions, mortgage-backed and asset-backed securities, inflation-indexed bonds and Treasury Inflation Protected Securities (TIPS).

Alternative: The allocation range will typically be 0%–30% of the Fund’s total assets. The Fund’s alternative-related investments include J.P. Morgan Funds and unaffiliated funds. Whether investing through a mutual fund or directly in securities, the investments in this asset class give the Fund exposure to: market neutral strategies, absolute return strategies, directional strategies, real estate (including REITs), private equity, mezzanine debt and commodities.

The Fund will gain exposure to commodity markets primarily by investing in the Access Balanced Fund CS Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the Subsidiary). The allocation range will typically be 0%–10% of the Fund’s total assets. The Subsidiary is advised by JPMIM and sub-advised by JPMPI. The Subsidiary (unlike the Fund) may invest without limitation in commodity-linked structured notes and other commodity-linked derivative instruments, including derivative instruments linked to the value of a particular commodity or commodity futures contract, or a subset of commodities or commodity futures contracts. However, the Subsidiary is otherwise subject to the same fundamental, non-fundamental and certain other investment restrictions as the Fund. The Subsidiary may use derivatives to obtain long exposure in an attempt to increase the Subsidiary’s income or gain, to hedge various investments and for risk management.

The Fund and the Subsidiary may invest in ETFs, including both JPMorgan ETFs and unaffiliated funds, in order to gain exposure to particular asset classes. An ETF is a registered investment company, depositary receipt or other pooled investment vehicle that typically seeks to track the performance of a particular market index or security. These indexes include not only broad-based market indexes but more specific indexes as well, including those relating to particular sectors, markets, regions or industries.

Ordinarily, the Fund’s investment in a single unaffiliated ETF is limited to 5% of its total assets and in all unaffiliated ETFs to 10% of its total assets. The SEC has issued exemptive orders to many ETFs that allow any fund investing in such ETFs to disregard these 5% and 10% limitations. The Fund intends to invest in unaffiliated ETFs that have received such exemptive orders and it may invest any amount of its total assets in a single ETF or in multiple ETFs.

Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund uses structured notes as tools in the management of portfolio assets. In particular, the Fund uses structured notes for risk management and to increase the Fund’s income or gain. To the extent that the Fund invests in underlying funds, such underlying funds may also use derivatives.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the adviser’s expectations regarding particular instruments or markets are not met.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investments in Mutual Funds and ETFs Risk. The Fund’s investments are concentrated in J.P. Morgan Funds and unaffiliated funds, so the Fund’s investment performance is directly related to the performance of the underlying funds. Shareholders will indirectly bear the expenses incurred by the underlying funds. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated funds creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. The price movement of an index-based ETF may not track the underlying index and may result in a loss. ETFs and closed-end investment companies may trade at a price below their net asset value (also known as a discount).

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund’s portfolio may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. The Fund and certain of the underlying funds that invest in foreign issuers and foreign securities (including depositary receipts) are subject to additional risks, including political and economic risks, civil conflicts and war, greater volatility, expropriation and nationalization risks, sanctions or other measures by the United States or other governments, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” the Fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. These risks are magnified in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Country and Region Risk. Some of the underlying funds concentrate their investments in securities of a single country or region (e.g., China Region or Latin America). Because these underlying funds concentrate their investments in a single country or region, their performance may be more volatile than that of a fund that can invest globally.

Industry and Sector Focus Risk. At times the underlying funds or the Fund may increase the relative emphasis of their investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds or the Fund increase the relative emphasis of their investments in a particular industry or sector, their shares’ values may fluctuate in response to events affecting that industry or sector.

Currency Risk. The Fund and certain of the underlying funds are subject to risks associated with foreign currency. Certain underlying funds are not required to hedge their non-dollar investments back to the U.S. dollar for defensive purposes. As a result, changes in foreign currency exchange rates will affect the value of certain underlying funds’ securities and the price of the underlying funds’ shares. Generally, when the value of the U.S. dollar rises in value relative to a foreign currency, an investment in that country loses value because that currency is worth fewer U.S. dollars. Devaluation of a currency by a country’s government or banking authority also will have a significant impact on the value of any investments denominated in that currency. Currency markets generally are not as regulated as securities markets, may be riskier than other types of investments and may increase the volatility of the Fund.

Equity Securities Risk. The Fund and certain of the underlying funds invest in equity securities (such as stocks) that are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. When the value of the stocks held by the Fund or an underlying fund goes down, the value of your investment in the Fund decreases in value.

Fixed Income Securities Risk. Some of the underlying funds invest in fixed income securities. These securities will increase or decrease in value based on changes in interest rates and are subject to the risk that an issuer or a counterparty will fail to make payments when due or default. If an issuer’s or a counterparty’s financial condition worsens, the credit quality of the issuer or counterparty may deteriorate making it difficult for the underlying fund to sell such investments. If rates increase, the value of these investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. When the value of investments in the Fund or underlying fixed income funds goes down, the value of your investment in the Fund will be affected. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Credit Risk. The Fund’s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

High Yield Securities Risk. Certain of the underlying funds may invest in instruments that are issued by companies which are highly leveraged, less creditworthy or financially distressed. These investments (known as junk bonds) are considered to be speculative and are subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information.

Real Estate Securities Risk. Certain of the underlying funds may invest in real estate securities, including real estate investment trusts (REITs), which are subject to the same risks as direct investments in real estate and mortgages, and their value will depend on the value of the underlying real estate interests. These risks include default, prepayments, changes in value resulting from changes in interest rates and demand for real and rental property, and the management skill and creditworthiness of REIT issuers. The underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which it invests in addition to the expenses of the underlying fund.

Commodity Risk. Certain underlying funds have exposure to commodities. Exposure to commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Derivatives Risk. The Fund and certain of the underlying funds may use derivatives in connection with their investment strategies. Derivatives, including futures, swaps and structured investments, may be riskier than other types of investments because they may be more sensitive to changes in economic or market conditions and could result in losses that significantly exceed the Fund’s original investment. Many derivatives create leverage thereby causing the Fund to be more volatile than it would have been if it had not used derivatives. Certain derivatives also expose the Fund and the underlying funds to counterparty risk (the risk that the derivative counterparty will not fulfill its contractual obligations), including credit risk of the derivative counterparty. Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or underlying funds do not have a claim on the reference assets and are subject to enhanced counterparty risk. Certain of the Fund’s transactions in foreign currency derivatives and other derivatives could also affect the amount, timing and character of distributions to shareholders which may result in the Fund realizing more short-term capital gain and ordinary income subject to tax at ordinary income tax rates than it would if it did not engage in such transactions, which may adversely impact the Fund’s after-tax returns. In addition, the Fund and certain of the underlying funds may use derivatives for non-hedging purposes, which increases the Fund’s or the underlying funds’ potential for loss.

Structured Note Risk. The Fund, or certain of the underlying funds, invest in commodity, currency, equity and fixed income linked structured notes. Structured notes are typically privately negotiated transactions between two or more parties. The fees associated with a structured note may lead to increased tracking error. The Fund also bears the risk that the issuer of the structured note will default. The Fund bears the risk of loss of its principal investment and periodic payments expected to be received for the duration of its investment. In addition, a liquid market may not exist for the structured notes. The lack of a liquid market may make it difficult to sell the structured notes at an acceptable price or to accurately value them.

Index Investing Risk. Certain of the underlying funds, including ETFs, in which the Fund may invest are index funds. Index funds are not actively managed and are designed to track the performance and holdings of a specified index. Securities may be purchased, held and sold by an index fund at times when an actively managed fund would not do so. There is also the risk that the underlying fund’s performance may not correlate with the performance of the index.

Preferred Stock Risk. The Fund and certain underlying funds may invest in preferred stock. Preferred stock generally has a preference as to dividends and liquidation over an issuer’s common stock but ranks junior to debt securities in an issuer’s capital structure. Unlike interest payments on debt securities, preferred stock dividends are payable only if declared by the issuer’s board of directors. Preferred stock also may be subject to optional or mandatory redemption provisions.

Government Securities Risk. The Fund and certain of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), or the Federal Home Loan Mortgage Corporation (Freddie Mac)). U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of interest or principal. This would result in losses to the Fund. Securities issued or guaranteed by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government related organizations may not have the funds to meet their payment obligations in the future. U.S. government securities include zero coupon securities, which tend to be subject to greater market risk than interest-paying securities of similar maturities.

High Portfolio Turnover Risk. The Fund may engage in active and frequent trading leading to increased portfolio turnover, higher transaction costs, and the possibility of increased capital gains, including short-term capital gains that will generally be taxable to shareholders as ordinary income.

Subsidiary Risk. By investing in the Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary’s investments. The derivatives and other investments held by the Subsidiary are generally similar to those that are permitted to be held by the Fund and are subject to the same risks that apply to similar investments if held directly by the Fund. These risks are described elsewhere in this prospectus. There can be no assurance that the investment objective of the Subsidiary will be achieved. The Subsidiary is not registered under the Investment Company Act of 1940 (1940 Act), and, unless otherwise noted in this prospectus, is not subject to all the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands could result in the inability of the Fund and/or the Subsidiary to operate as described in this prospectus and could adversely affect the Fund.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance</b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund. The table compares that performance to the Access Balanced Composite Benchmark, a customized benchmark, the Bloomberg Barclays Global Aggregate Index - Hedged USD, a broad-based securities market index, the MSCI World Index (net of foreign withholding taxes), a broad-based securities market index, and the S&P 500 Index, a broad-based securities market index. Since January 1, 2018, the Access Balanced Composite Benchmark is a composite benchmark comprised of unmanaged indexes that corresponds to the Fund’s model allocation and that consists of the MSCI World Index (net of foreign withholding taxes) (55%), Bloomberg Barclays Global Aggregate Index Hedged (40%), and HFRX Global Hedge Fund Index (5%). From July 1, 2016 until December 31, 2017, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (55%), Bloomberg Barclays Global Aggregate Index (35%), Bloomberg Barclays T-Bill 1-3 Month (5%), and HFRX Global Hedge Fund Index (5%). From April 1, 2013 until June 30, 2016, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (50%), Bloomberg Barclays U.S. Aggregate Index (35%), Citigroup 3-Month Treasury Bill Index (5%), Bloomberg Commodity Index (5%) and HFRX Global Hedge Fund Index (5%). From July 1, 2011 until April 1, 2013, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (50%), Bloomberg Barclays U.S. Aggregate Index (35%) and Citigroup 3-Month Treasury Bill Index (15%). From the inception date of September 30, 2009 to July 1, 2011, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (55%), Bloomberg Barclays Capital U.S. Aggregate Index (35%) and Citigroup 3-Month Treasury Bill Index (10%). The performance of Class C Shares is based on the performance of Class A Shares prior to their inception. The actual return of the Class C Shares would have been lower than shown because the Class C Shares have higher expenses than Class A Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganaccessfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganaccessfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES </b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 3rd quarter, 2010     7.71%   
Worst Quarter 3rd quarter, 2011   -11.01%

The Fund’s year-to-date total return through 9/30/18 was 2.44%.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS <br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher In some cases, the “Return After Taxes on Distributions and Sale of Fund Shares” may exceed the “Return Before Taxes” due to an assumed benefit from any losses on a sale of shares at the end of the measurement period.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. In some cases, the “Return After Taxes on Distributions and Sale of Fund Shares” may exceed the “Return Before Taxes” due to an assumed benefit from any losses on a sale of shares at the end of the measurement period.
A, C, I Shares | JPMorgan Access Balanced Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as a % of the Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.50%
Maximum Deferred Sales Charge (Load) as a % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.75% [2],[3]
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25% [3]
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.19%
Other Expenses rr_OtherExpensesOverAssets 0.44%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.31%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.75%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.37%) [2],[3],[4]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.38% [2],[3],[4]
1 Year rr_ExpenseExampleYear01 $ 584
3 Years rr_ExpenseExampleYear03 942
5 Years rr_ExpenseExampleYear05 1,323
10 Years rr_ExpenseExampleYear10 2,390
1 Year rr_ExpenseExampleNoRedemptionYear01 584
3 Years rr_ExpenseExampleNoRedemptionYear03 942
5 Years rr_ExpenseExampleNoRedemptionYear05 1,323
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,390
2010 rr_AnnualReturn2010 7.05%
2011 rr_AnnualReturn2011 (5.02%)
2012 rr_AnnualReturn2012 9.75%
2013 rr_AnnualReturn2013 11.10%
2014 rr_AnnualReturn2014 1.47%
2015 rr_AnnualReturn2015 (2.35%)
2016 rr_AnnualReturn2016 4.75%
2017 rr_AnnualReturn2017 13.35%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 2.44%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2010
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 7.71%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (11.01%)
Past 1 Year rr_AverageAnnualReturnYear01 8.27%
Past 5 Years rr_AverageAnnualReturnYear05 4.54%
Life of Fund rr_AverageAnnualReturnSinceInception 4.44%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 30, 2009
A, C, I Shares | JPMorgan Access Balanced Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as a % of the Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as a % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther 1.00%
Management Fees rr_ManagementFeesOverAssets 0.75% [2],[3]
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25% [3]
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.16%
Other Expenses rr_OtherExpensesOverAssets 0.41%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.31%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.22%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.37%) [2],[3],[4]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.85% [2],[3],[4]
1 Year rr_ExpenseExampleYear01 $ 288
3 Years rr_ExpenseExampleYear03 659
5 Years rr_ExpenseExampleYear05 1,156
10 Years rr_ExpenseExampleYear10 2,526
1 Year rr_ExpenseExampleNoRedemptionYear01 188
3 Years rr_ExpenseExampleNoRedemptionYear03 659
5 Years rr_ExpenseExampleNoRedemptionYear05 1,156
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,526
Past 1 Year rr_AverageAnnualReturnYear01 11.79%
Past 5 Years rr_AverageAnnualReturnYear05 4.98%
Life of Fund rr_AverageAnnualReturnSinceInception 4.52%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 30, 2009
A, C, I Shares | JPMorgan Access Balanced Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as a % of the Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as a % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.75% [2],[3]
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25% [3]
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.16%
Other Expenses rr_OtherExpensesOverAssets 0.41%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.31%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.47%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.37%) [2],[3],[4]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.10% [2],[3],[4]
1 Year rr_ExpenseExampleYear01 $ 112
3 Years rr_ExpenseExampleYear03 428
5 Years rr_ExpenseExampleYear05 768
10 Years rr_ExpenseExampleYear10 1,726
1 Year rr_ExpenseExampleNoRedemptionYear01 112
3 Years rr_ExpenseExampleNoRedemptionYear03 428
5 Years rr_ExpenseExampleNoRedemptionYear05 768
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,726
Past 1 Year rr_AverageAnnualReturnYear01 13.67%
Past 5 Years rr_AverageAnnualReturnYear05 5.78%
Life of Fund rr_AverageAnnualReturnSinceInception 5.30%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 30, 2009
A, C, I Shares | JPMorgan Access Balanced Fund | Return After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 6.46%
Past 5 Years rr_AverageAnnualReturnYear05 3.14%
Life of Fund rr_AverageAnnualReturnSinceInception 3.34%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 30, 2009
A, C, I Shares | JPMorgan Access Balanced Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 5.70%
Past 5 Years rr_AverageAnnualReturnYear05 3.16%
Life of Fund rr_AverageAnnualReturnSinceInception 3.19%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 30, 2009
A, C, I Shares | JPMorgan Access Balanced Fund | ACCESS BALANCED COMPOSITE BENCHMARK (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 13.36%
Past 5 Years rr_AverageAnnualReturnYear05 6.55%
Life of Fund rr_AverageAnnualReturnSinceInception 6.49%
A, C, I Shares | JPMorgan Access Balanced Fund | BLOOMBERG BARCLAYS GLOBAL AGGREGATE INDEX - HEDGED USD (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 3.04%
Past 5 Years rr_AverageAnnualReturnYear05 3.06%
Life of Fund rr_AverageAnnualReturnSinceInception 3.79%
A, C, I Shares | JPMorgan Access Balanced Fund | MSCI WORLD INDEX (Net of Foreign Withholding Taxes) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 22.40%
Past 5 Years rr_AverageAnnualReturnYear05 11.64%
Life of Fund rr_AverageAnnualReturnSinceInception 10.07%
A, C, I Shares | JPMorgan Access Balanced Fund | S&P 500 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 21.83%
Past 5 Years rr_AverageAnnualReturnYear05 15.79%
Life of Fund rr_AverageAnnualReturnSinceInception 14.28%
[1] (under $1 million)
[2] J.P. Morgan Investment Management Inc. and J.P. Morgan Private Investments, Inc. have contractually agreed to waive the investment advisory fee for the Fund by 0.30%. This contract is in effect through 10/31/19.
[3] The shares of the affiliated underlying funds in which the Fund invests a portion of its assets impose a separate investment advisory fee and a service fee. To avoid charging an investment advisory fee and a service fee at an effective rate above 0.45% for investment advisory services and 0.25% for Class A, Class C and Class I Shares for shareholder servicing on affiliated investments, the investment adviser and shareholder servicing agent have contractually agreed to waive a portion of the investment advisory and service fees charged by the underlying funds. This contract is in effect through 10/31/19. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[4] The Fund’s adviser has contractually agreed to waive the advisory fee that it receives from the Fund in an amount equal to the advisory fee paid by Access Balanced Fund CS Ltd., the Fund’s wholly-owned subsidiary, to its adviser. This waiver will continue in effect so long as the Fund invests in the subsidiary and may not be terminated without approval by the Fund’s Board of Trustees.
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L Shares | JPMorgan Access Balanced Fund
<b>JPMorgan Access Balanced Fund <br/>Class/Ticker: L/JXBIX</b>
<b>What is the goal of the Fund?</b>
The Fund seeks total return.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund Fees and Expenses is included in the total returns of the Fund. Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/>of your investment)</b>
Annual Fund Operating Expenses
L Shares
JPMorgan Access Balanced Fund
Class L
Management Fees 0.75% [1],[2]
Distribution (Rule 12b-1) Fees none
Other Expenses 0.25%
Service Fees 0.10% [2]
Remainder of Other Expenses 0.15%
Acquired Fund (Underlying Fund) Fees and Expenses 0.31%
Total Annual Fund Operating Expenses 1.31%
Fee Waivers and/or Expense Reimbursements (0.37%) [1],[2],[3]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements 0.94% [1],[2],[3]
[1] J.P. Morgan Investment Management Inc. and J.P. Morgan Private Investments, Inc. have contractually agreed to waive the investment advisory fee for the Fund by 0.30%. This contract is in effect through 10/31/19.
[2] The shares of the affiliated underlying funds in which the Fund invests a portion of its assets impose a separate investment advisory fee and a service fee. To avoid charging an investment advisory fee and a service fee at an effective rate above 0.45% for investment advisory services and 0.10% for Class L Shares for shareholder servicing on affiliated investments, the investment adviser and shareholder servicing agent have contractually agreed to waive a portion of the investment advisory and service fees charged by the underlying funds. This contract is in effect through 10/31/19. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] The Fund’s adviser has contractually agreed to waive the advisory fee that it receives from the Fund in an amount equal to the advisory fee paid by Access Balanced Fund CS Ltd., the Fund’s wholly-owned subsidiary, to its adviser. This waiver will continue in effect so long as the Fund invests in the subsidiary and may not be terminated without approval by the Fund’s Board of Trustees.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example
1 Year
3 Years
5 Years
10 Years
L Shares | JPMorgan Access Balanced Fund | CLASS L SHARES | USD ($) 96 379 683 1,547
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
L Shares | JPMorgan Access Balanced Fund | CLASS L SHARES | USD ($) 96 379 683 1,547
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 26% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The Fund invests in a combination of domestic and international equity, fixed income, and alternative assets, as described below. The Fund invests in mutual funds and exchange-traded funds (ETFs) in the same group of investment companies (i.e., J.P. Morgan Funds). The Fund also invests in open-end and closed-end investment companies (which may or may not be registered under the Investment Company Act of 1940, as amended) and ETFs that are managed by unaffiliated investment advisers (collectively, unaffiliated funds) and directly in individual securities. In addition, to the extent permitted by applicable law or the exemptive relief obtained from the Securities and Exchange Commission (SEC), the Fund invests directly in other financial instruments, including derivatives, such as futures, swaps and structured investments, to gain exposure to, or to overweight or underweight allocations among, various sectors or markets.

The Fund’s adviser is J.P. Morgan Investment Management Inc. (JPMIM or the Adviser) and it sets the Fund’s overall investment strategies. The Fund is managed by J.P. Morgan Private Investments Inc. (JPMPI). JPMPI utilizes an allocation process (Strategic Asset Allocations) to invest the Fund’s assets across the various asset classes and with various sub-advisers. JPMPI and JPMIM use rigorous criteria to select sub-advisers and underlying fund managers to manage certain portions of the Fund’s assets. In choosing whether to buy or sell an investment and to set their allocations, JPMPI considers the following factors: (1) market trends, (2) JPMPI’s outlook for a market capitalization or investment style category, and (3) an underlying fund manager’s performance in various market conditions. JPMPI will also consider the advantages and disadvantages to the Fund of using actively versus passively managed investment vehicles. By combining the strengths of different sub-advisers and underlying fund managers, the Fund seeks to benefit from a variety of investment selection processes and methodologies to achieve its investment objective.

The descriptions below include both the range that the Fund may invest within a particular asset class and the various investments that the Fund may use to gain exposure to such asset class. JPMPI frequently monitors and may make tactical changes to the Strategic Asset Allocations, including shifts among the various asset classes and allocations to the other sub-advisers and underlying fund managers.

U.S. and International Equity: The allocation range will typically be 30%–75% of the Fund’s total assets. The Fund’s equity-related investments consist of J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class are: common stock, preferred stock, structured investments, convertible securities, depositary receipts and warrants to buy common stocks. The Fund invests in foreign and emerging market securities.

U.S. and International Fixed Income: The allocation range will typically be 25%–60% of the Fund’s total assets. The Fund’s fixed income investments include J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class include: U.S. government securities (including agencies and instrumentalities), municipal bonds (including housing authority obligations), domestic and foreign corporate bonds, high yield securities (junk bonds), loan participations and assignments, debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions, mortgage-backed and asset-backed securities, inflation-indexed bonds and Treasury Inflation Protected Securities (TIPS).

Alternative: The allocation range will typically be 0%–30% of the Fund’s total assets. The Fund’s alternative-related investments include J.P. Morgan Funds and unaffiliated funds. Whether investing through a mutual fund or directly in securities, the investments in this asset class give the Fund exposure to: market neutral strategies, absolute return strategies, directional strategies, real estate (including REITs), private equity, mezzanine debt and commodities.

The Fund will gain exposure to commodity markets primarily by investing in the Access Balanced Fund CS Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the Subsidiary). The allocation range will typically be 0%–10% of the Fund’s total assets. The Subsidiary is advised by JPMIM and sub-advised by JPMPI. The Subsidiary (unlike the Fund) may invest without limitation in commodity-linked structured notes and other commodity-linked derivative instruments, including derivative instruments linked to the value of a particular commodity or commodity futures contract, or a subset of commodities or commodity futures contracts. However, the Subsidiary is otherwise subject to the same fundamental, non-fundamental and certain other investment restrictions as the Fund. The Subsidiary may use derivatives to obtain long exposure in an attempt to increase the Subsidiary’s income or gain, to hedge various investments and for risk management.

The Fund and the Subsidiary may invest in ETFs, including both JPMorgan ETFs and unaffiliated funds, in order to gain exposure to particular asset classes. An ETF is a registered investment company, depositary receipt or other pooled investment vehicle that typically seeks to track the performance of a particular market index or security. These indexes include not only broad-based market indexes but more specific indexes as well, including those relating to particular sectors, markets, regions or industries.

Ordinarily, the Fund’s investment in a single unaffiliated ETF is limited to 5% of its total assets and in all unaffiliated ETFs to 10% of its total assets. The SEC has issued exemptive orders to many ETFs that allow any fund investing in such ETFs to disregard these 5% and 10% limitations. The Fund intends to invest in unaffiliated ETFs that have received such exemptive orders and it may invest any amount of its total assets in a single ETF or in multiple ETFs.

Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund uses structured notes as tools in the management of portfolio assets. In particular, the Fund uses structured notes for risk management and to increase the Fund’s income or gain. To the extent that the Fund invests in underlying funds, such underlying funds may also use derivatives.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the adviser’s expectations regarding particular instruments or markets are not met.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investments in Mutual Funds and ETFs Risk. The Fund’s investments are concentrated in J.P. Morgan Funds and unaffiliated funds, so the Fund’s investment performance is directly related to the performance of the underlying funds. Shareholders will indirectly bear the expenses incurred by the underlying funds. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated funds creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. The price movement of an index-based ETF may not track the underlying index and may result in a loss. ETFs and closed-end investment companies may trade at a price below their net asset value (also known as a discount).

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund’s portfolio may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. The Fund and certain of the underlying funds that invest in foreign issuers and foreign securities (including depositary receipts) are subject to additional risks, including political and economic risks, civil conflicts and war, greater volatility, expropriation and nationalization risks, sanctions or other measures by the United States or other governments, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” the Fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. These risks are magnified in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Country and Region Risk. Some of the underlying funds concentrate their investments in securities of a single country or region (e.g., China Region or Latin America). Because these underlying funds concentrate their investments in a single country or region, their performance may be more volatile than that of a fund that can invest globally.

Industry and Sector Focus Risk. At times the underlying funds or the Fund may increase the relative emphasis of their investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds or the Fund increase the relative emphasis of their investments in a particular industry or sector, their shares’ values may fluctuate in response to events affecting that industry or sector.

Currency Risk. The Fund and certain of the underlying funds are subject to risks associated with foreign currency. Certain underlying funds are not required to hedge their non-dollar investments back to the U.S. dollar for defensive purposes. As a result, changes in foreign currency exchange rates will affect the value of certain underlying funds’ securities and the price of the underlying funds’ shares. Generally, when the value of the U.S. dollar rises in value relative to a foreign currency, an investment in that country loses value because that currency is worth fewer U.S. dollars. Devaluation of a currency by a country’s government or banking authority also will have a significant impact on the value of any investments denominated in that currency. Currency markets generally are not as regulated as securities markets, may be riskier than other types of investments and may increase the volatility of the Fund.

Equity Securities Risk. The Fund and certain of the underlying funds invest in equity securities (such as stocks) that are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. When the value of the stocks held by the Fund or an underlying fund goes down, the value of your investment in the Fund decreases in value.

Fixed Income Securities Risk. Some of the underlying funds invest in fixed income securities. These securities will increase or decrease in value based on changes in interest rates and are subject to the risk that an issuer or a counterparty will fail to make payments when due or default. If an issuer’s or a counterparty’s financial condition worsens, the credit quality of the issuer or counterparty may deteriorate making it difficult for the underlying fund to sell such investments. If rates increase, the value of these investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. When the value of investments in the Fund or underlying fixed income funds goes down, the value of your investment in the Fund will be affected. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Credit Risk. The Fund’s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

High Yield Securities Risk. Certain of the underlying funds may invest in instruments that are issued by companies which are highly leveraged, less creditworthy or financially distressed. These investments (known as junk bonds) are considered to be speculative and are subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information.

Real Estate Securities Risk. Certain of the underlying funds may invest in real estate securities, including real estate investment trusts (REITs), which are subject to the same risks as direct investments in real estate and mortgages, and their value will depend on the value of the underlying real estate interests. These risks include default, prepayments, changes in value resulting from changes in interest rates and demand for real and rental property, and the management skill and creditworthiness of REIT issuers. The underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which it invests in addition to the expenses of the underlying fund.

Commodity Risk. Certain underlying funds have exposure to commodities. Exposure to commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Derivatives Risk. The Fund and certain of the underlying funds may use derivatives in connection with their investment strategies. Derivatives, including futures, swaps and structured investments, may be riskier than other types of investments because they may be more sensitive to changes in economic or market conditions and could result in losses that significantly exceed the Fund’s original investment. Many derivatives create leverage thereby causing the Fund to be more volatile than it would have been if it had not used derivatives. Certain derivatives also expose the Fund and the underlying funds to counterparty risk (the risk that the derivative counterparty will not fulfill its contractual obligations), including credit risk of the derivative counterparty. Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or underlying funds do not have a claim on the reference assets and are subject to enhanced counterparty risk. Certain of the Fund’s transactions in foreign currency derivatives and other derivatives could also affect the amount, timing and character of distributions to shareholders which may result in the Fund realizing more short-term capital gain and ordinary income subject to tax at ordinary income tax rates than it would if it did not engage in such transactions, which may adversely impact the Fund’s after-tax returns. In addition, the Fund and certain of the underlying funds may use derivatives for non-hedging purposes, which increases the Fund’s or the underlying funds’ potential for loss.

Structured Note Risk. The Fund, or certain of the underlying funds, invest in commodity, currency, equity and fixed income linked structured notes. Structured notes are typically privately negotiated transactions between two or more parties. The fees associated with a structured note may lead to increased tracking error. The Fund also bears the risk that the issuer of the structured note will default. The Fund bears the risk of loss of its principal investment and periodic payments expected to be received for the duration of its investment. In addition, a liquid market may not exist for the structured notes. The lack of a liquid market may make it difficult to sell the structured notes at an acceptable price or to accurately value them.

Index Investing Risk. Certain of the underlying funds, including ETFs, in which the Fund may invest are index funds. Index funds are not actively managed and are designed to track the performance and holdings of a specified index. Securities may be purchased, held and sold by an index fund at times when an actively managed fund would not do so. There is also the risk that the underlying fund’s performance may not correlate with the performance of the index.

Preferred Stock Risk. The Fund and certain underlying funds may invest in preferred stock. Preferred stock generally has a preference as to dividends and liquidation over an issuer’s common stock but ranks junior to debt securities in an issuer’s capital structure. Unlike interest payments on debt securities, preferred stock dividends are payable only if declared by the issuer’s board of directors. Preferred stock also may be subject to optional or mandatory redemption provisions.

Government Securities Risk. The Fund and certain of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), or the Federal Home Loan Mortgage Corporation (Freddie Mac)). U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of interest or principal. This would result in losses to the Fund. Securities issued or guaranteed by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government related organizations may not have the funds to meet their payment obligations in the future. U.S. government securities include zero coupon securities, which tend to be subject to greater market risk than interest-paying securities of similar maturities.

High Portfolio Turnover Risk. The Fund may engage in active and frequent trading leading to increased portfolio turnover, higher transaction costs, and the possibility of increased capital gains, including short-term capital gains that will generally be taxable to shareholders as ordinary income.

Subsidiary Risk. By investing in the Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary’s investments. The derivatives and other investments held by the Subsidiary are generally similar to those that are permitted to be held by the Fund and are subject to the same risks that apply to similar investments if held directly by the Fund. These risks are described elsewhere in this prospectus. There can be no assurance that the investment objective of the Subsidiary will be achieved. The Subsidiary is not registered under the Investment Company Act of 1940 (1940 Act), and, unless otherwise noted in this prospectus, is not subject to all the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands could result in the inability of the Fund and/or the Subsidiary to operate as described in this prospectus and could adversely affect the Fund.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance</b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class L Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund. The table compares that performance to the Access Balanced Composite Benchmark, a customized benchmark, the Bloomberg Barclays Global Aggregate Index - Hedged USD, a broad-based securities market index, the MSCI World Index (net of foreign withholding taxes), a broad-based securities market index, and the S&P 500 Index, a broad-based securities market index. Since January 1, 2018, the Access Balanced Composite Benchmark is a composite benchmark comprised of unmanaged indexes that corresponds to the Fund’s model allocation and that consists of the MSCI World Index (net of foreign withholding taxes) (55%), Bloomberg Barclays Global Aggregate Index Hedged (40%), and HFRX Global Hedge Fund Index (5%). From July 1, 2016 until December 31, 2017, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (55%), Bloomberg Barclays Global Aggregate Index (35%), Bloomberg Barclays T-Bill 1-3 Month (5%), and HFRX Global Hedge Fund Index (5%). From April 1, 2013 until June 30, 2016, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (50%), Bloomberg Barclays U.S. Aggregate Index (35%), Citigroup 3-Month Treasury Bill Index (5%), Bloomberg Commodity Index (5%) and HFRX Global Hedge Fund Index (5%). From July 1, 2011 until April 1, 2013, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (50%), Bloomberg Barclays U.S. Aggregate Index (35%) and Citigroup 3-Month Treasury Bill Index (15%). From the inception date of September 30, 2009 to July 1, 2011, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (55%), Bloomberg Barclays Capital U.S. Aggregate Index (35%) and Citigroup 3-Month Treasury Bill Index (10%). Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganaccessfunds.com or by calling 1-800-480-4111.
<b>YEAR-BY-YEAR RETURNS — CLASS L SHARES</b>
Bar Chart
Best Quarter 3rd quarter, 2010     7.80%   
Worst Quarter 3rd quarter, 2011   -10.89%

The Fund’s year-to-date total return through 9/30/18 was 2.82%.
<b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - L Shares - JPMorgan Access Balanced Fund
Past 1 Year
Past 5 Years
Life of Fund
Inception Date
CLASS L SHARES 13.80% 5.94% 5.46% Sep. 30, 2009
CLASS L SHARES | Return After Taxes on Distributions 11.69% 4.34% 4.19% Sep. 30, 2009
CLASS L SHARES | Return After Taxes on Distributions and Sale of Fund Shares 8.88% 4.18% 3.94% Sep. 30, 2009
ACCESS BALANCED COMPOSITE BENCHMARK (Reflects No Deduction for Fees, Expenses, or Taxes) 13.36% 6.55% 6.49%  
BLOOMBERG BARCLAYS GLOBAL AGGREGATE INDEX - HEDGED USD (Reflects No Deduction for Fees, Expenses, or Taxes) 3.04% 3.06% 3.79%  
MSCI WORLD INDEX (Net of Foreign Withholding Taxes) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes) 22.40% 11.64% 10.07%  
S&P 500 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) 21.83% 15.79% 14.28%  
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. In some cases, the “Return After Taxes on Distributions and Sale of Fund Shares” may exceed the “Return Before Taxes” due to an assumed benefit from any losses on a sale of shares at the end of the measurement period.
XML 108 R246.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
L Shares | JPMorgan Access Balanced Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan Access Balanced Fund <br/>Class/Ticker: L/JXBIX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund?</b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Fund seeks total return.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund Fees and Expenses is included in the total returns of the Fund. Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/>of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 26% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 26.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests in a combination of domestic and international equity, fixed income, and alternative assets, as described below. The Fund invests in mutual funds and exchange-traded funds (ETFs) in the same group of investment companies (i.e., J.P. Morgan Funds). The Fund also invests in open-end and closed-end investment companies (which may or may not be registered under the Investment Company Act of 1940, as amended) and ETFs that are managed by unaffiliated investment advisers (collectively, unaffiliated funds) and directly in individual securities. In addition, to the extent permitted by applicable law or the exemptive relief obtained from the Securities and Exchange Commission (SEC), the Fund invests directly in other financial instruments, including derivatives, such as futures, swaps and structured investments, to gain exposure to, or to overweight or underweight allocations among, various sectors or markets.

The Fund’s adviser is J.P. Morgan Investment Management Inc. (JPMIM or the Adviser) and it sets the Fund’s overall investment strategies. The Fund is managed by J.P. Morgan Private Investments Inc. (JPMPI). JPMPI utilizes an allocation process (Strategic Asset Allocations) to invest the Fund’s assets across the various asset classes and with various sub-advisers. JPMPI and JPMIM use rigorous criteria to select sub-advisers and underlying fund managers to manage certain portions of the Fund’s assets. In choosing whether to buy or sell an investment and to set their allocations, JPMPI considers the following factors: (1) market trends, (2) JPMPI’s outlook for a market capitalization or investment style category, and (3) an underlying fund manager’s performance in various market conditions. JPMPI will also consider the advantages and disadvantages to the Fund of using actively versus passively managed investment vehicles. By combining the strengths of different sub-advisers and underlying fund managers, the Fund seeks to benefit from a variety of investment selection processes and methodologies to achieve its investment objective.

The descriptions below include both the range that the Fund may invest within a particular asset class and the various investments that the Fund may use to gain exposure to such asset class. JPMPI frequently monitors and may make tactical changes to the Strategic Asset Allocations, including shifts among the various asset classes and allocations to the other sub-advisers and underlying fund managers.

U.S. and International Equity: The allocation range will typically be 30%–75% of the Fund’s total assets. The Fund’s equity-related investments consist of J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class are: common stock, preferred stock, structured investments, convertible securities, depositary receipts and warrants to buy common stocks. The Fund invests in foreign and emerging market securities.

U.S. and International Fixed Income: The allocation range will typically be 25%–60% of the Fund’s total assets. The Fund’s fixed income investments include J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class include: U.S. government securities (including agencies and instrumentalities), municipal bonds (including housing authority obligations), domestic and foreign corporate bonds, high yield securities (junk bonds), loan participations and assignments, debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions, mortgage-backed and asset-backed securities, inflation-indexed bonds and Treasury Inflation Protected Securities (TIPS).

Alternative: The allocation range will typically be 0%–30% of the Fund’s total assets. The Fund’s alternative-related investments include J.P. Morgan Funds and unaffiliated funds. Whether investing through a mutual fund or directly in securities, the investments in this asset class give the Fund exposure to: market neutral strategies, absolute return strategies, directional strategies, real estate (including REITs), private equity, mezzanine debt and commodities.

The Fund will gain exposure to commodity markets primarily by investing in the Access Balanced Fund CS Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the Subsidiary). The allocation range will typically be 0%–10% of the Fund’s total assets. The Subsidiary is advised by JPMIM and sub-advised by JPMPI. The Subsidiary (unlike the Fund) may invest without limitation in commodity-linked structured notes and other commodity-linked derivative instruments, including derivative instruments linked to the value of a particular commodity or commodity futures contract, or a subset of commodities or commodity futures contracts. However, the Subsidiary is otherwise subject to the same fundamental, non-fundamental and certain other investment restrictions as the Fund. The Subsidiary may use derivatives to obtain long exposure in an attempt to increase the Subsidiary’s income or gain, to hedge various investments and for risk management.

The Fund and the Subsidiary may invest in ETFs, including both JPMorgan ETFs and unaffiliated funds, in order to gain exposure to particular asset classes. An ETF is a registered investment company, depositary receipt or other pooled investment vehicle that typically seeks to track the performance of a particular market index or security. These indexes include not only broad-based market indexes but more specific indexes as well, including those relating to particular sectors, markets, regions or industries.

Ordinarily, the Fund’s investment in a single unaffiliated ETF is limited to 5% of its total assets and in all unaffiliated ETFs to 10% of its total assets. The SEC has issued exemptive orders to many ETFs that allow any fund investing in such ETFs to disregard these 5% and 10% limitations. The Fund intends to invest in unaffiliated ETFs that have received such exemptive orders and it may invest any amount of its total assets in a single ETF or in multiple ETFs.

Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund uses structured notes as tools in the management of portfolio assets. In particular, the Fund uses structured notes for risk management and to increase the Fund’s income or gain. To the extent that the Fund invests in underlying funds, such underlying funds may also use derivatives.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the adviser’s expectations regarding particular instruments or markets are not met.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investments in Mutual Funds and ETFs Risk. The Fund’s investments are concentrated in J.P. Morgan Funds and unaffiliated funds, so the Fund’s investment performance is directly related to the performance of the underlying funds. Shareholders will indirectly bear the expenses incurred by the underlying funds. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated funds creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. The price movement of an index-based ETF may not track the underlying index and may result in a loss. ETFs and closed-end investment companies may trade at a price below their net asset value (also known as a discount).

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund’s portfolio may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. The Fund and certain of the underlying funds that invest in foreign issuers and foreign securities (including depositary receipts) are subject to additional risks, including political and economic risks, civil conflicts and war, greater volatility, expropriation and nationalization risks, sanctions or other measures by the United States or other governments, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” the Fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. These risks are magnified in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Country and Region Risk. Some of the underlying funds concentrate their investments in securities of a single country or region (e.g., China Region or Latin America). Because these underlying funds concentrate their investments in a single country or region, their performance may be more volatile than that of a fund that can invest globally.

Industry and Sector Focus Risk. At times the underlying funds or the Fund may increase the relative emphasis of their investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds or the Fund increase the relative emphasis of their investments in a particular industry or sector, their shares’ values may fluctuate in response to events affecting that industry or sector.

Currency Risk. The Fund and certain of the underlying funds are subject to risks associated with foreign currency. Certain underlying funds are not required to hedge their non-dollar investments back to the U.S. dollar for defensive purposes. As a result, changes in foreign currency exchange rates will affect the value of certain underlying funds’ securities and the price of the underlying funds’ shares. Generally, when the value of the U.S. dollar rises in value relative to a foreign currency, an investment in that country loses value because that currency is worth fewer U.S. dollars. Devaluation of a currency by a country’s government or banking authority also will have a significant impact on the value of any investments denominated in that currency. Currency markets generally are not as regulated as securities markets, may be riskier than other types of investments and may increase the volatility of the Fund.

Equity Securities Risk. The Fund and certain of the underlying funds invest in equity securities (such as stocks) that are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. When the value of the stocks held by the Fund or an underlying fund goes down, the value of your investment in the Fund decreases in value.

Fixed Income Securities Risk. Some of the underlying funds invest in fixed income securities. These securities will increase or decrease in value based on changes in interest rates and are subject to the risk that an issuer or a counterparty will fail to make payments when due or default. If an issuer’s or a counterparty’s financial condition worsens, the credit quality of the issuer or counterparty may deteriorate making it difficult for the underlying fund to sell such investments. If rates increase, the value of these investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. When the value of investments in the Fund or underlying fixed income funds goes down, the value of your investment in the Fund will be affected. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Credit Risk. The Fund’s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

High Yield Securities Risk. Certain of the underlying funds may invest in instruments that are issued by companies which are highly leveraged, less creditworthy or financially distressed. These investments (known as junk bonds) are considered to be speculative and are subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information.

Real Estate Securities Risk. Certain of the underlying funds may invest in real estate securities, including real estate investment trusts (REITs), which are subject to the same risks as direct investments in real estate and mortgages, and their value will depend on the value of the underlying real estate interests. These risks include default, prepayments, changes in value resulting from changes in interest rates and demand for real and rental property, and the management skill and creditworthiness of REIT issuers. The underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which it invests in addition to the expenses of the underlying fund.

Commodity Risk. Certain underlying funds have exposure to commodities. Exposure to commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Derivatives Risk. The Fund and certain of the underlying funds may use derivatives in connection with their investment strategies. Derivatives, including futures, swaps and structured investments, may be riskier than other types of investments because they may be more sensitive to changes in economic or market conditions and could result in losses that significantly exceed the Fund’s original investment. Many derivatives create leverage thereby causing the Fund to be more volatile than it would have been if it had not used derivatives. Certain derivatives also expose the Fund and the underlying funds to counterparty risk (the risk that the derivative counterparty will not fulfill its contractual obligations), including credit risk of the derivative counterparty. Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or underlying funds do not have a claim on the reference assets and are subject to enhanced counterparty risk. Certain of the Fund’s transactions in foreign currency derivatives and other derivatives could also affect the amount, timing and character of distributions to shareholders which may result in the Fund realizing more short-term capital gain and ordinary income subject to tax at ordinary income tax rates than it would if it did not engage in such transactions, which may adversely impact the Fund’s after-tax returns. In addition, the Fund and certain of the underlying funds may use derivatives for non-hedging purposes, which increases the Fund’s or the underlying funds’ potential for loss.

Structured Note Risk. The Fund, or certain of the underlying funds, invest in commodity, currency, equity and fixed income linked structured notes. Structured notes are typically privately negotiated transactions between two or more parties. The fees associated with a structured note may lead to increased tracking error. The Fund also bears the risk that the issuer of the structured note will default. The Fund bears the risk of loss of its principal investment and periodic payments expected to be received for the duration of its investment. In addition, a liquid market may not exist for the structured notes. The lack of a liquid market may make it difficult to sell the structured notes at an acceptable price or to accurately value them.

Index Investing Risk. Certain of the underlying funds, including ETFs, in which the Fund may invest are index funds. Index funds are not actively managed and are designed to track the performance and holdings of a specified index. Securities may be purchased, held and sold by an index fund at times when an actively managed fund would not do so. There is also the risk that the underlying fund’s performance may not correlate with the performance of the index.

Preferred Stock Risk. The Fund and certain underlying funds may invest in preferred stock. Preferred stock generally has a preference as to dividends and liquidation over an issuer’s common stock but ranks junior to debt securities in an issuer’s capital structure. Unlike interest payments on debt securities, preferred stock dividends are payable only if declared by the issuer’s board of directors. Preferred stock also may be subject to optional or mandatory redemption provisions.

Government Securities Risk. The Fund and certain of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), or the Federal Home Loan Mortgage Corporation (Freddie Mac)). U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of interest or principal. This would result in losses to the Fund. Securities issued or guaranteed by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government related organizations may not have the funds to meet their payment obligations in the future. U.S. government securities include zero coupon securities, which tend to be subject to greater market risk than interest-paying securities of similar maturities.

High Portfolio Turnover Risk. The Fund may engage in active and frequent trading leading to increased portfolio turnover, higher transaction costs, and the possibility of increased capital gains, including short-term capital gains that will generally be taxable to shareholders as ordinary income.

Subsidiary Risk. By investing in the Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary’s investments. The derivatives and other investments held by the Subsidiary are generally similar to those that are permitted to be held by the Fund and are subject to the same risks that apply to similar investments if held directly by the Fund. These risks are described elsewhere in this prospectus. There can be no assurance that the investment objective of the Subsidiary will be achieved. The Subsidiary is not registered under the Investment Company Act of 1940 (1940 Act), and, unless otherwise noted in this prospectus, is not subject to all the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands could result in the inability of the Fund and/or the Subsidiary to operate as described in this prospectus and could adversely affect the Fund.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance</b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class L Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund. The table compares that performance to the Access Balanced Composite Benchmark, a customized benchmark, the Bloomberg Barclays Global Aggregate Index - Hedged USD, a broad-based securities market index, the MSCI World Index (net of foreign withholding taxes), a broad-based securities market index, and the S&P 500 Index, a broad-based securities market index. Since January 1, 2018, the Access Balanced Composite Benchmark is a composite benchmark comprised of unmanaged indexes that corresponds to the Fund’s model allocation and that consists of the MSCI World Index (net of foreign withholding taxes) (55%), Bloomberg Barclays Global Aggregate Index Hedged (40%), and HFRX Global Hedge Fund Index (5%). From July 1, 2016 until December 31, 2017, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (55%), Bloomberg Barclays Global Aggregate Index (35%), Bloomberg Barclays T-Bill 1-3 Month (5%), and HFRX Global Hedge Fund Index (5%). From April 1, 2013 until June 30, 2016, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (50%), Bloomberg Barclays U.S. Aggregate Index (35%), Citigroup 3-Month Treasury Bill Index (5%), Bloomberg Commodity Index (5%) and HFRX Global Hedge Fund Index (5%). From July 1, 2011 until April 1, 2013, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (50%), Bloomberg Barclays U.S. Aggregate Index (35%) and Citigroup 3-Month Treasury Bill Index (15%). From the inception date of September 30, 2009 to July 1, 2011, the Access Balanced Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (55%), Bloomberg Barclays Capital U.S. Aggregate Index (35%) and Citigroup 3-Month Treasury Bill Index (10%). Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganaccessfunds.com or by calling 1-800-480-4111.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class L Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganaccessfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS L SHARES</b>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 3rd quarter, 2010     7.80%   
Worst Quarter 3rd quarter, 2011   -10.89%

The Fund’s year-to-date total return through 9/30/18 was 2.82%.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher In some cases, the “Return After Taxes on Distributions and Sale of Fund Shares” may exceed the “Return Before Taxes” due to an assumed benefit from any losses on a sale of shares at the end of the measurement period.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. In some cases, the “Return After Taxes on Distributions and Sale of Fund Shares” may exceed the “Return Before Taxes” due to an assumed benefit from any losses on a sale of shares at the end of the measurement period.
L Shares | JPMorgan Access Balanced Fund | Class L  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.75% [1],[2]
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.10% [2]
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.15%
Other Expenses rr_OtherExpensesOverAssets 0.25%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.31%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.31%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.37%) [1],[2],[3]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.94% [1],[2],[3]
1 Year rr_ExpenseExampleYear01 $ 96
3 Years rr_ExpenseExampleYear03 379
5 Years rr_ExpenseExampleYear05 683
10 Years rr_ExpenseExampleYear10 1,547
1 Year rr_ExpenseExampleNoRedemptionYear01 96
3 Years rr_ExpenseExampleNoRedemptionYear03 379
5 Years rr_ExpenseExampleNoRedemptionYear05 683
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,547
2010 rr_AnnualReturn2010 7.52%
2011 rr_AnnualReturn2011 (4.68%)
2012 rr_AnnualReturn2012 10.25%
2013 rr_AnnualReturn2013 11.59%
2014 rr_AnnualReturn2014 1.80%
2015 rr_AnnualReturn2015 (1.88%)
2016 rr_AnnualReturn2016 5.19%
2017 rr_AnnualReturn2017 13.80%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 2.82%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2010
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 7.80%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (10.89%)
Past 1 Year rr_AverageAnnualReturnYear01 13.80%
Past 5 Years rr_AverageAnnualReturnYear05 5.94%
Life of Fund rr_AverageAnnualReturnSinceInception 5.46%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 30, 2009
L Shares | JPMorgan Access Balanced Fund | Return After Taxes on Distributions | Class L  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 11.69%
Past 5 Years rr_AverageAnnualReturnYear05 4.34%
Life of Fund rr_AverageAnnualReturnSinceInception 4.19%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 30, 2009
L Shares | JPMorgan Access Balanced Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class L  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 8.88%
Past 5 Years rr_AverageAnnualReturnYear05 4.18%
Life of Fund rr_AverageAnnualReturnSinceInception 3.94%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 30, 2009
L Shares | JPMorgan Access Balanced Fund | ACCESS BALANCED COMPOSITE BENCHMARK (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 13.36%
Past 5 Years rr_AverageAnnualReturnYear05 6.55%
Life of Fund rr_AverageAnnualReturnSinceInception 6.49%
L Shares | JPMorgan Access Balanced Fund | BLOOMBERG BARCLAYS GLOBAL AGGREGATE INDEX - HEDGED USD (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 3.04%
Past 5 Years rr_AverageAnnualReturnYear05 3.06%
Life of Fund rr_AverageAnnualReturnSinceInception 3.79%
L Shares | JPMorgan Access Balanced Fund | MSCI WORLD INDEX (Net of Foreign Withholding Taxes) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 22.40%
Past 5 Years rr_AverageAnnualReturnYear05 11.64%
Life of Fund rr_AverageAnnualReturnSinceInception 10.07%
L Shares | JPMorgan Access Balanced Fund | S&P 500 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 21.83%
Past 5 Years rr_AverageAnnualReturnYear05 15.79%
Life of Fund rr_AverageAnnualReturnSinceInception 14.28%
[1] J.P. Morgan Investment Management Inc. and J.P. Morgan Private Investments, Inc. have contractually agreed to waive the investment advisory fee for the Fund by 0.30%. This contract is in effect through 10/31/19.
[2] The shares of the affiliated underlying funds in which the Fund invests a portion of its assets impose a separate investment advisory fee and a service fee. To avoid charging an investment advisory fee and a service fee at an effective rate above 0.45% for investment advisory services and 0.10% for Class L Shares for shareholder servicing on affiliated investments, the investment adviser and shareholder servicing agent have contractually agreed to waive a portion of the investment advisory and service fees charged by the underlying funds. This contract is in effect through 10/31/19. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] The Fund’s adviser has contractually agreed to waive the advisory fee that it receives from the Fund in an amount equal to the advisory fee paid by Access Balanced Fund CS Ltd., the Fund’s wholly-owned subsidiary, to its adviser. This waiver will continue in effect so long as the Fund invests in the subsidiary and may not be terminated without approval by the Fund’s Board of Trustees.
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A, C, I Shares | JPMorgan Access Growth Fund
<b>JPMorgan Access Growth Fund <br/>Class/Ticker: A/JXGAX; C/JXGCX; I/JXGSX</b>
<b>What is the goal of the Fund?</b>
The Fund seeks capital appreciation.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $100,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 46 and in “Financial Intermediary-Specific Sales Charge Waivers” in Appendix A of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
<b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Shareholder Fees - A, C, I Shares - JPMorgan Access Growth Fund
Class A
Class C
Class I
Maximum Sales Charge (Load) Imposed on Purchases as a % of the Offering Price 4.50% none none
Maximum Deferred Sales Charge (Load) as a % of Original Cost of the Shares none [1] 1.00% none
[1] (under $1 million)
“Acquired Fund Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund Fees and Expenses is included in the total returns of the Fund. Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/>of your investment)</b>
Annual Fund Operating Expenses - A, C, I Shares - JPMorgan Access Growth Fund
Class A
Class C
Class I
Management Fees [1],[2] 0.75% 0.75% 0.75%
Distribution (Rule 12b-1) Fees 0.25% 0.75% none
Other Expenses 0.48% 0.42% 0.41%
Service Fees [2] 0.25% 0.25% 0.25%
Remainder of Other Expenses 0.23% 0.17% 0.16%
Acquired Fund (Underlying Fund) Fees and Expenses 0.30% 0.30% 0.30%
Total Annual Fund Operating Expenses 1.78% 2.22% 1.46%
Fee Waivers and/or Expense Reimbursements [1],[2],[3] (0.35%) (0.35%) (0.35%)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements [1],[2],[3] 1.43% 1.87% 1.11%
[1] J.P. Morgan Investment Management Inc. and J.P. Morgan Private Investments, Inc. have contractually agreed to waive the investment advisory fee for the Fund by 0.30%. This contract is in effect through 10/31/19.
[2] The shares of the affiliated underlying funds in which the Fund invests a portion of its assets impose a separate investment advisory fee and a service fee. To avoid charging an investment advisory fee and a service fee at an effective rate above 0.45% for investment advisory services and 0.25% for Class A, Class C and Class I Shares for shareholder servicing on affiliated investments, the investment adviser and shareholder servicing agent have contractually agreed to waive a portion of the investment advisory and service fees charged by the underlying funds. This contract is in effect through 10/31/19. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] The Fund’s adviser has contractually agreed to waive the advisory fee that it receives from the Fund in an amount equal to the advisory fee paid by Access Growth Fund CS Ltd., the Fund’s wholly-owned subsidiary, to its adviser. This waiver will continue in effect so long as the Fund invests in the subsidiary and may not be terminated without approval by the Fund’s Board of Trustees.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example - A, C, I Shares - JPMorgan Access Growth Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 589 953 1,340 2,423
CLASS C SHARES 290 661 1,158 2,527
CLASS I SHARES 113 427 764 1,716
<b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/>WOULD BE:</b>
Expense Example, No Redemption - A, C, I Shares - JPMorgan Access Growth Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
CLASS A SHARES 589 953 1,340 2,423
CLASS C SHARES 190 661 1,158 2,527
CLASS I SHARES 113 427 764 1,716
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 27% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The Fund invests in a combination of domestic and international equity, fixed income, and alternative assets, as described below. The Fund invests in mutual funds and exchange-traded funds (ETFs) in the same group of investment companies (i.e., J.P. Morgan Funds). The Fund also invests in open-end and closed-end investment companies (which may or may not be registered under the Investment Company Act of 1940, as amended) and ETFs that are managed by unaffiliated investment advisers (collectively, unaffiliated funds) and directly in individual securities. In addition, to the extent permitted by applicable law or the exemptive relief obtained from the Securities and Exchange Commission (SEC), the Fund invests directly in other financial instruments, including derivatives, such as futures, swaps and structured investments, to gain exposure to, or to overweight or underweight allocations among, various sectors or markets.

The Fund’s adviser is J.P. Morgan Investment Management Inc. (JPMIM or the Adviser) and it sets the Fund’s overall investment strategies. The Fund is managed by J.P. Morgan Private Investments Inc. (JPMPI). JPMPI utilizes an allocation process (Strategic Asset Allocations) to invest the Fund’s assets across the various asset classes and with various sub-advisers. JPMPI and JPMIM use rigorous criteria to select sub-advisers and underlying fund managers to manage certain portions of the Fund’s assets. In choosing whether to buy or sell an investment and to set their allocations, JPMPI considers the following factors: (1) market trends, (2) JPMPI’s outlook for a market capitalization or investment style category, and (3) an underlying fund manager’s performance in various market conditions. JPMPI will also consider the advantages and disadvantages to the Fund of using actively versus passively managed investment vehicles. By combining the strengths of different sub-advisers and underlying fund managers, the Fund seeks to benefit from a variety of investment selection processes and methodologies to achieve its investment objective.

The descriptions below include both the range that the Fund may invest within a particular asset class and the various investments that the Fund may use to gain exposure to such asset class. JPMPI frequently monitors and may make tactical changes to the Strategic Asset Allocations, including shifts among the various asset classes and allocations to the other sub-advisers and underlying fund managers.

U.S. and International Equity: The allocation range will typically be 40%–90% of the Fund’s total assets. The Fund’s equity-related investments consist of J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class are: common stock, preferred stock, structured investments, convertible securities, depositary receipts and warrants to buy common stocks. The Fund invests in foreign and emerging market securities.

U.S. and International Fixed Income: The allocation range will typically be 5%–45% of the Fund’s total assets. The Fund’s fixed income investments include J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class include: U.S. government securities (including agencies and instrumentalities), municipal bonds (including housing authority obligations), domestic and foreign corporate bonds, high yield securities (junk bonds), loan participations and assignments, debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions, mortgage-backed and asset-backed securities, inflation-indexed bonds and Treasury Inflation Protected Securities (TIPS).

Alternative: The allocation range will typically be 0%–35% of the Fund’s total assets. The Fund’s alternative-related investments include J.P. Morgan Funds and unaffiliated funds. Whether investing through a mutual fund or directly in securities, the investments in this asset class give the Fund exposure to: market neutral strategies, absolute return strategies, directional strategies, real estate (including REITs), private equity, mezzanine debt and commodities.

The Fund will gain exposure to commodity markets primarily by investing in the Access Growth Fund CS Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the Subsidiary). The allocation range will typically be 0%–10% of the Fund’s total assets. The Subsidiary is advised by JPMIM and sub-advised by JPMPI. The Subsidiary (unlike the Fund) may invest without limitation in commodity-linked structured notes and other commodity-linked derivative instruments, including derivative instruments linked to the value of a particular commodity or commodity futures contract, or a subset of commodities or commodity futures contracts. However, the Subsidiary is otherwise subject to the same fundamental, non-fundamental and certain other investment restrictions as the Fund. The Subsidiary may use derivatives to obtain long exposure in an attempt to increase the Subsidiary’s income or gain, to hedge various investments and for risk management.

The Fund and the Subsidiary may invest in ETFs, including both JPMorgan ETFs and unaffiliated funds, in order to gain exposure to particular asset classes. An ETF is a registered investment company, depositary receipt or other pooled investment vehicle that typically seeks to track the performance of a particular market index or security. These indexes include not only broad-based market indexes but more specific indexes as well, including those relating to particular sectors, markets, regions or industries.

Ordinarily, the Fund’s investment in a single unaffiliated ETF is limited to 5% of its total assets and in all unaffiliated ETFs to 10% of its total assets. The SEC has issued exemptive orders to many ETFs that allow any fund investing in such ETFs to disregard these 5% and 10% limitations. The Fund intends to invest in unaffiliated ETFs that have received such exemptive orders and it may invest any amount of its total assets in a single ETF or in multiple ETFs.

Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund uses structured notes as tools in the management of portfolio assets. In particular, the Fund uses structured notes for risk management and to increase the Fund’s income or gain. To the extent that the Fund invests in underlying funds, such underlying funds may also use derivatives.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the adviser’s expectations regarding particular instruments or markets are not met.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investments in Mutual Funds and ETFs Risk. The Fund’s investments are concentrated in J.P. Morgan Funds and unaffiliated funds, so the Fund’s investment performance is directly related to the performance of the underlying funds. Shareholders will indirectly bear the expenses incurred by the underlying funds. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated funds creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. The price movement of an index-based ETF may not track the underlying index and may result in a loss. ETFs and closed-end investment companies may trade at a price below their net asset value (also known as a discount).

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund’s portfolio may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. The Fund and certain of the underlying funds that invest in foreign issuers and foreign securities (including depositary receipts) are subject to additional risks, including political and economic risks, civil conflicts and war, greater volatility, expropriation and nationalization risks, sanctions or other measures by the United States or other governments, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” the Fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. These risks are magnified in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Country and Region Risk. Some of the underlying funds concentrate their investments in securities of a single country or region (e.g., China Region or Latin America). Because these underlying funds concentrate their investments in a single country or region, their performance may be more volatile than that of a fund that can invest globally.

Industry and Sector Focus Risk. At times the underlying funds or the Fund may increase the relative emphasis of their investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds or the Fund increase the relative emphasis of their investments in a particular industry or sector, their shares’ values may fluctuate in response to events affecting that industry or sector.

Currency Risk. The Fund and certain of the underlying funds are subject to risks associated with foreign currency. Certain underlying funds are not required to hedge their non-dollar investments back to the U.S. dollar for defensive purposes. As a result, changes in foreign currency exchange rates will affect the value of certain underlying funds’ securities and the price of the underlying funds’ shares. Generally, when the value of the U.S. dollar rises in value relative to a foreign currency, an investment in that country loses value because that currency is worth fewer U.S. dollars. Devaluation of a currency by a country’s government or banking authority also will have a significant impact on the value of any investments denominated in that currency. Currency markets generally are not as regulated as securities markets, may be riskier than other types of investments and may increase the volatility of the Fund.

Equity Securities Risk. The Fund and certain of the underlying funds invest in equity securities (such as stocks) that are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. When the value of the stocks held by the Fund or an underlying fund goes down, the value of your investment in the Fund decreases in value.

Fixed Income Securities Risk. Some of the underlying funds invest in fixed income securities. These securities will increase or decrease in value based on changes in interest rates and are subject to the risk that an issuer or a counterparty will fail to make payments when due or default. If an issuer’s or a counterparty’s financial condition worsens, the credit quality of the issuer or counterparty may deteriorate making it difficult for the underlying fund to sell such investments. If rates increase, the value of these investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. When the value of investments in the Fund or underlying fixed income funds goes down, the value of your investment in the Fund will be affected. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Credit Risk. The Fund’s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

High Yield Securities Risk. Certain of the underlying funds may invest in instruments that are issued by companies which are highly leveraged, less creditworthy or financially distressed. These investments (known as junk bonds) are considered to be speculative and are subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information.

Real Estate Securities Risk. Certain of the underlying funds may invest in real estate securities, including real estate investment trusts (REITs), which are subject to the same risks as direct investments in real estate and mortgages, and their value will depend on the value of the underlying real estate interests. These risks include default, prepayments, changes in value resulting from changes in interest rates and demand for real and rental property, and the management skill and creditworthiness of REIT issuers. The underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which it invests in addition to the expenses of the underlying fund.

Commodity Risk. Certain underlying funds have exposure to commodities. Exposure to commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Derivatives Risk. The Fund and certain of the underlying funds may use derivatives in connection with their investment strategies. Derivatives, including futures, swaps and structured investments, may be riskier than other types of investments because they may be more sensitive to changes in economic or market conditions and could result in losses that significantly exceed the Fund’s original investment. Many derivatives create leverage thereby causing the Fund to be more volatile than it would have been if it had not used derivatives. Certain derivatives also expose the Fund and the underlying funds to counterparty risk (the risk that the derivative counterparty will not fulfill its contractual obligations), including credit risk of the derivative counterparty. Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or underlying funds do not have a claim on the reference assets and are subject to enhanced counterparty risk. Certain of the Fund’s transactions in foreign currency derivatives and other derivatives could also affect the amount, timing and character of distributions to shareholders which may result in the Fund realizing more short-term capital gain and ordinary income subject to tax at ordinary income tax rates than it would if it did not engage in such transactions, which may adversely impact the Fund’s after-tax returns. In addition, the Fund and certain of the underlying funds may use derivatives for non-hedging purposes, which increases the Fund’s or the underlying funds’ potential for loss.

Structured Note Risk. The Fund, or certain of the underlying funds, invest in commodity, currency, equity and fixed income linked structured notes. Structured notes are typically privately negotiated transactions between two or more parties. The fees associated with a structured note may lead to increased tracking error. The Fund also bears the risk that the issuer of the structured note will default. The Fund bears the risk of loss of its principal investment and periodic payments expected to be received for the duration of its investment. In addition, a liquid market may not exist for the structured notes. The lack of a liquid market may make it difficult to sell the structured notes at an acceptable price or to accurately value them.

Index Investing Risk. Certain of the underlying funds, including ETFs, in which the Fund may invest are index funds. Index funds are not actively managed and are designed to track the performance and holdings of a specified index. Securities may be purchased, held and sold by an index fund at times when an actively managed fund would not do so. There is also the risk that the underlying fund’s performance may not correlate with the performance of the index.

Preferred Stock Risk. The Fund and certain underlying funds may invest in preferred stock. Preferred stock generally has a preference as to dividends and liquidation over an issuer’s common stock but ranks junior to debt securities in an issuer’s capital structure. Unlike interest payments on debt securities, preferred stock dividends are payable only if declared by the issuer’s board of directors. Preferred stock also may be subject to optional or mandatory redemption provisions.

Government Securities Risk. The Fund and certain of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), or the Federal Home Loan Mortgage Corporation (Freddie Mac)). U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of interest or principal. This would result in losses to the Fund. Securities issued or guaranteed by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government related organizations may not have the funds to meet their payment obligations in the future. U.S. government securities include zero coupon securities, which tend to be subject to greater market risk than interest-paying securities of similar maturities.

High Portfolio Turnover Risk. The Fund may engage in active and frequent trading leading to increased portfolio turnover, higher transaction costs, and the possibility of increased capital gains, including short-term capital gains that will generally be taxable to shareholders as ordinary income.

Subsidiary Risk. By investing in the Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary’s investments. The derivatives and other investments held by the Subsidiary are generally similar to those that are permitted to be held by the Fund and are subject to the same risks that apply to similar investments if held directly by the Fund. These risks are described elsewhere in this prospectus. There can be no assurance that the investment objective of the Subsidiary will be achieved. The Subsidiary is not registered under the Investment Company Act of 1940 (1940 Act), and, unless otherwise noted in this prospectus, is not subject to all the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands could result in the inability of the Fund and/or the Subsidiary to operate as described in this prospectus and could adversely affect the Fund.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance</b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund. The table compares that performance to the Access Growth Composite Benchmark, a customized benchmark, the MSCI World Index (net of foreign withholding taxes) a broad-based securities market index, the Bloomberg Barclays Global Aggregate Index – Hedged USD, a broad-based securities market index, and the S&P 500 Index, a broad-based securities market index. Since January 1, 2018, the Access Growth Composite Benchmark is a composite benchmark comprised of unmanaged indexes that corresponds to the Fund’s model allocation and that consists of the MSCI World Index (net of foreign withholding taxes) (75%), Bloomberg Barclays Global Aggregate Index Hedged (20%), and HFRX Global Hedge Fund Index (5%). From July 1, 2016 until December 31, 2017, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (75%), Bloomberg Barclays Global Aggregate Index (15%), Bloomberg Barclays T-Bill 1-3 Month (5%), and HFRX Global Hedge Fund Index (5%). From April 1, 2013 until June 30, 2016, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (70%), Bloomberg Barclays U.S. Aggregate Index (15%), Citigroup 3-Month Treasury Bill Index (5%), Bloomberg Commodity Index (5%) and HFRX Global Hedge Fund Index (5%). From July 1, 2011 until April 1, 2013, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (70%), Bloomberg Barclays U.S. Aggregate Index (20%) and Citigroup 3-Month Treasury Bill Index (10%). From the inception date of September 30, 2009 to July 1, 2011, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (75%), Bloomberg Barclays Capital U.S. Aggregate Index (15%) and Citigroup 3-Month Treasury Bill Index (10%). The performance of Class C Shares is based on the performance of Class A Shares prior to their inception. The actual return of the Class C Shares would have been lower than shown because the Class C Shares have higher expenses than Class A Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganaccessfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
<b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart
Best Quarter 1st quarter, 2012     9.49%   
Worst Quarter 3rd quarter, 2011   -15.45%

The Fund’s year-to-date total return through 9/30/18 was 3.48%.
<b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - A, C, I Shares - JPMorgan Access Growth Fund
Past 1 Year
Past 5 Years
Life of Fund
Inception Date
CLASS A SHARES 11.80% 6.07% 5.55% Sep. 30, 2009
CLASS A SHARES | Return After Taxes on Distributions 9.88% 4.74% 4.53% Sep. 30, 2009
CLASS A SHARES | Return After Taxes on Distributions and Sale of Fund Shares 7.92% 4.47% 4.16% Sep. 30, 2009
CLASS C SHARES 15.51% 6.53% 5.64% Sep. 30, 2009
CLASS I SHARES 17.38% 7.33% 6.42% Sep. 30, 2009
ACCESS GROWTH COMPOSITE BENCHMARK (Reflects No Deduction for Fees, Expenses, or Taxes) 17.32% 8.43% 7.74%  
MSCI WORLD INDEX (Net of Foreign Withholding Taxes) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes) 22.40% 11.64% 10.07%  
BLOOMBERG BARCLAYS GLOBAL AGGREGATE INDEX - HEDGED USD (Reflects No Deduction for Fees, Expenses, or Taxes) 3.04% 3.06% 3.79%  
S&P 500 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) 21.83% 15.79% 14.28%  
After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. In some cases, the “Return After Taxes on Distributions and Sale of Fund Shares” may exceed the “Return Before Taxes” due to an assumed benefit from any losses on a sale of shares at the end of the measurement period.
XML 111 R254.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
A, C, I Shares | JPMorgan Access Growth Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan Access Growth Fund <br/>Class/Ticker: A/JXGAX; C/JXGCX; I/JXGSX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund?</b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Fund seeks capital appreciation.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $100,000 in the J.P. Morgan Funds. More information about these and other discounts is available from your financial intermediary and in “Investing with J.P. Morgan Funds — SALES CHARGES AND FINANCIAL INTERMEDIARY COMPENSATION” on page 46 and in “Financial Intermediary-Specific Sales Charge Waivers” in Appendix A of the prospectus and in “PURCHASES, REDEMPTIONS AND EXCHANGES” in Appendix A to Part II of the Statement of Additional Information. You may be required to pay a commission to your Financial Intermediary for purchases of Class I Shares. Such commissions are not reflected in the tables or the example below.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>SHAREHOLDER FEES (Fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES<br/>(Expenses that you pay each year as a percentage of the value<br/>of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 27% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 27.00%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock “Acquired Fund Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund Fees and Expenses is included in the total returns of the Fund. Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A Shares if you and your family invest, or agree to invest in the future, at least $100,000 in the J.P. Morgan Funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>IF YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COST<br/>WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests in a combination of domestic and international equity, fixed income, and alternative assets, as described below. The Fund invests in mutual funds and exchange-traded funds (ETFs) in the same group of investment companies (i.e., J.P. Morgan Funds). The Fund also invests in open-end and closed-end investment companies (which may or may not be registered under the Investment Company Act of 1940, as amended) and ETFs that are managed by unaffiliated investment advisers (collectively, unaffiliated funds) and directly in individual securities. In addition, to the extent permitted by applicable law or the exemptive relief obtained from the Securities and Exchange Commission (SEC), the Fund invests directly in other financial instruments, including derivatives, such as futures, swaps and structured investments, to gain exposure to, or to overweight or underweight allocations among, various sectors or markets.

The Fund’s adviser is J.P. Morgan Investment Management Inc. (JPMIM or the Adviser) and it sets the Fund’s overall investment strategies. The Fund is managed by J.P. Morgan Private Investments Inc. (JPMPI). JPMPI utilizes an allocation process (Strategic Asset Allocations) to invest the Fund’s assets across the various asset classes and with various sub-advisers. JPMPI and JPMIM use rigorous criteria to select sub-advisers and underlying fund managers to manage certain portions of the Fund’s assets. In choosing whether to buy or sell an investment and to set their allocations, JPMPI considers the following factors: (1) market trends, (2) JPMPI’s outlook for a market capitalization or investment style category, and (3) an underlying fund manager’s performance in various market conditions. JPMPI will also consider the advantages and disadvantages to the Fund of using actively versus passively managed investment vehicles. By combining the strengths of different sub-advisers and underlying fund managers, the Fund seeks to benefit from a variety of investment selection processes and methodologies to achieve its investment objective.

The descriptions below include both the range that the Fund may invest within a particular asset class and the various investments that the Fund may use to gain exposure to such asset class. JPMPI frequently monitors and may make tactical changes to the Strategic Asset Allocations, including shifts among the various asset classes and allocations to the other sub-advisers and underlying fund managers.

U.S. and International Equity: The allocation range will typically be 40%–90% of the Fund’s total assets. The Fund’s equity-related investments consist of J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class are: common stock, preferred stock, structured investments, convertible securities, depositary receipts and warrants to buy common stocks. The Fund invests in foreign and emerging market securities.

U.S. and International Fixed Income: The allocation range will typically be 5%–45% of the Fund’s total assets. The Fund’s fixed income investments include J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class include: U.S. government securities (including agencies and instrumentalities), municipal bonds (including housing authority obligations), domestic and foreign corporate bonds, high yield securities (junk bonds), loan participations and assignments, debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions, mortgage-backed and asset-backed securities, inflation-indexed bonds and Treasury Inflation Protected Securities (TIPS).

Alternative: The allocation range will typically be 0%–35% of the Fund’s total assets. The Fund’s alternative-related investments include J.P. Morgan Funds and unaffiliated funds. Whether investing through a mutual fund or directly in securities, the investments in this asset class give the Fund exposure to: market neutral strategies, absolute return strategies, directional strategies, real estate (including REITs), private equity, mezzanine debt and commodities.

The Fund will gain exposure to commodity markets primarily by investing in the Access Growth Fund CS Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the Subsidiary). The allocation range will typically be 0%–10% of the Fund’s total assets. The Subsidiary is advised by JPMIM and sub-advised by JPMPI. The Subsidiary (unlike the Fund) may invest without limitation in commodity-linked structured notes and other commodity-linked derivative instruments, including derivative instruments linked to the value of a particular commodity or commodity futures contract, or a subset of commodities or commodity futures contracts. However, the Subsidiary is otherwise subject to the same fundamental, non-fundamental and certain other investment restrictions as the Fund. The Subsidiary may use derivatives to obtain long exposure in an attempt to increase the Subsidiary’s income or gain, to hedge various investments and for risk management.

The Fund and the Subsidiary may invest in ETFs, including both JPMorgan ETFs and unaffiliated funds, in order to gain exposure to particular asset classes. An ETF is a registered investment company, depositary receipt or other pooled investment vehicle that typically seeks to track the performance of a particular market index or security. These indexes include not only broad-based market indexes but more specific indexes as well, including those relating to particular sectors, markets, regions or industries.

Ordinarily, the Fund’s investment in a single unaffiliated ETF is limited to 5% of its total assets and in all unaffiliated ETFs to 10% of its total assets. The SEC has issued exemptive orders to many ETFs that allow any fund investing in such ETFs to disregard these 5% and 10% limitations. The Fund intends to invest in unaffiliated ETFs that have received such exemptive orders and it may invest any amount of its total assets in a single ETF or in multiple ETFs.

Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund uses structured notes as tools in the management of portfolio assets. In particular, the Fund uses structured notes for risk management and to increase the Fund’s income or gain. To the extent that the Fund invests in underlying funds, such underlying funds may also use derivatives.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the adviser’s expectations regarding particular instruments or markets are not met.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investments in Mutual Funds and ETFs Risk. The Fund’s investments are concentrated in J.P. Morgan Funds and unaffiliated funds, so the Fund’s investment performance is directly related to the performance of the underlying funds. Shareholders will indirectly bear the expenses incurred by the underlying funds. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated funds creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. The price movement of an index-based ETF may not track the underlying index and may result in a loss. ETFs and closed-end investment companies may trade at a price below their net asset value (also known as a discount).

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund’s portfolio may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. The Fund and certain of the underlying funds that invest in foreign issuers and foreign securities (including depositary receipts) are subject to additional risks, including political and economic risks, civil conflicts and war, greater volatility, expropriation and nationalization risks, sanctions or other measures by the United States or other governments, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” the Fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. These risks are magnified in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Country and Region Risk. Some of the underlying funds concentrate their investments in securities of a single country or region (e.g., China Region or Latin America). Because these underlying funds concentrate their investments in a single country or region, their performance may be more volatile than that of a fund that can invest globally.

Industry and Sector Focus Risk. At times the underlying funds or the Fund may increase the relative emphasis of their investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds or the Fund increase the relative emphasis of their investments in a particular industry or sector, their shares’ values may fluctuate in response to events affecting that industry or sector.

Currency Risk. The Fund and certain of the underlying funds are subject to risks associated with foreign currency. Certain underlying funds are not required to hedge their non-dollar investments back to the U.S. dollar for defensive purposes. As a result, changes in foreign currency exchange rates will affect the value of certain underlying funds’ securities and the price of the underlying funds’ shares. Generally, when the value of the U.S. dollar rises in value relative to a foreign currency, an investment in that country loses value because that currency is worth fewer U.S. dollars. Devaluation of a currency by a country’s government or banking authority also will have a significant impact on the value of any investments denominated in that currency. Currency markets generally are not as regulated as securities markets, may be riskier than other types of investments and may increase the volatility of the Fund.

Equity Securities Risk. The Fund and certain of the underlying funds invest in equity securities (such as stocks) that are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. When the value of the stocks held by the Fund or an underlying fund goes down, the value of your investment in the Fund decreases in value.

Fixed Income Securities Risk. Some of the underlying funds invest in fixed income securities. These securities will increase or decrease in value based on changes in interest rates and are subject to the risk that an issuer or a counterparty will fail to make payments when due or default. If an issuer’s or a counterparty’s financial condition worsens, the credit quality of the issuer or counterparty may deteriorate making it difficult for the underlying fund to sell such investments. If rates increase, the value of these investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. When the value of investments in the Fund or underlying fixed income funds goes down, the value of your investment in the Fund will be affected. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Credit Risk. The Fund’s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

High Yield Securities Risk. Certain of the underlying funds may invest in instruments that are issued by companies which are highly leveraged, less creditworthy or financially distressed. These investments (known as junk bonds) are considered to be speculative and are subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information.

Real Estate Securities Risk. Certain of the underlying funds may invest in real estate securities, including real estate investment trusts (REITs), which are subject to the same risks as direct investments in real estate and mortgages, and their value will depend on the value of the underlying real estate interests. These risks include default, prepayments, changes in value resulting from changes in interest rates and demand for real and rental property, and the management skill and creditworthiness of REIT issuers. The underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which it invests in addition to the expenses of the underlying fund.

Commodity Risk. Certain underlying funds have exposure to commodities. Exposure to commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Derivatives Risk. The Fund and certain of the underlying funds may use derivatives in connection with their investment strategies. Derivatives, including futures, swaps and structured investments, may be riskier than other types of investments because they may be more sensitive to changes in economic or market conditions and could result in losses that significantly exceed the Fund’s original investment. Many derivatives create leverage thereby causing the Fund to be more volatile than it would have been if it had not used derivatives. Certain derivatives also expose the Fund and the underlying funds to counterparty risk (the risk that the derivative counterparty will not fulfill its contractual obligations), including credit risk of the derivative counterparty. Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or underlying funds do not have a claim on the reference assets and are subject to enhanced counterparty risk. Certain of the Fund’s transactions in foreign currency derivatives and other derivatives could also affect the amount, timing and character of distributions to shareholders which may result in the Fund realizing more short-term capital gain and ordinary income subject to tax at ordinary income tax rates than it would if it did not engage in such transactions, which may adversely impact the Fund’s after-tax returns. In addition, the Fund and certain of the underlying funds may use derivatives for non-hedging purposes, which increases the Fund’s or the underlying funds’ potential for loss.

Structured Note Risk. The Fund, or certain of the underlying funds, invest in commodity, currency, equity and fixed income linked structured notes. Structured notes are typically privately negotiated transactions between two or more parties. The fees associated with a structured note may lead to increased tracking error. The Fund also bears the risk that the issuer of the structured note will default. The Fund bears the risk of loss of its principal investment and periodic payments expected to be received for the duration of its investment. In addition, a liquid market may not exist for the structured notes. The lack of a liquid market may make it difficult to sell the structured notes at an acceptable price or to accurately value them.

Index Investing Risk. Certain of the underlying funds, including ETFs, in which the Fund may invest are index funds. Index funds are not actively managed and are designed to track the performance and holdings of a specified index. Securities may be purchased, held and sold by an index fund at times when an actively managed fund would not do so. There is also the risk that the underlying fund’s performance may not correlate with the performance of the index.

Preferred Stock Risk. The Fund and certain underlying funds may invest in preferred stock. Preferred stock generally has a preference as to dividends and liquidation over an issuer’s common stock but ranks junior to debt securities in an issuer’s capital structure. Unlike interest payments on debt securities, preferred stock dividends are payable only if declared by the issuer’s board of directors. Preferred stock also may be subject to optional or mandatory redemption provisions.

Government Securities Risk. The Fund and certain of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), or the Federal Home Loan Mortgage Corporation (Freddie Mac)). U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of interest or principal. This would result in losses to the Fund. Securities issued or guaranteed by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government related organizations may not have the funds to meet their payment obligations in the future. U.S. government securities include zero coupon securities, which tend to be subject to greater market risk than interest-paying securities of similar maturities.

High Portfolio Turnover Risk. The Fund may engage in active and frequent trading leading to increased portfolio turnover, higher transaction costs, and the possibility of increased capital gains, including short-term capital gains that will generally be taxable to shareholders as ordinary income.

Subsidiary Risk. By investing in the Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary’s investments. The derivatives and other investments held by the Subsidiary are generally similar to those that are permitted to be held by the Fund and are subject to the same risks that apply to similar investments if held directly by the Fund. These risks are described elsewhere in this prospectus. There can be no assurance that the investment objective of the Subsidiary will be achieved. The Subsidiary is not registered under the Investment Company Act of 1940 (1940 Act), and, unless otherwise noted in this prospectus, is not subject to all the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands could result in the inability of the Fund and/or the Subsidiary to operate as described in this prospectus and could adversely affect the Fund.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance</b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund. The table compares that performance to the Access Growth Composite Benchmark, a customized benchmark, the MSCI World Index (net of foreign withholding taxes) a broad-based securities market index, the Bloomberg Barclays Global Aggregate Index – Hedged USD, a broad-based securities market index, and the S&P 500 Index, a broad-based securities market index. Since January 1, 2018, the Access Growth Composite Benchmark is a composite benchmark comprised of unmanaged indexes that corresponds to the Fund’s model allocation and that consists of the MSCI World Index (net of foreign withholding taxes) (75%), Bloomberg Barclays Global Aggregate Index Hedged (20%), and HFRX Global Hedge Fund Index (5%). From July 1, 2016 until December 31, 2017, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (75%), Bloomberg Barclays Global Aggregate Index (15%), Bloomberg Barclays T-Bill 1-3 Month (5%), and HFRX Global Hedge Fund Index (5%). From April 1, 2013 until June 30, 2016, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (70%), Bloomberg Barclays U.S. Aggregate Index (15%), Citigroup 3-Month Treasury Bill Index (5%), Bloomberg Commodity Index (5%) and HFRX Global Hedge Fund Index (5%). From July 1, 2011 until April 1, 2013, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (70%), Bloomberg Barclays U.S. Aggregate Index (20%) and Citigroup 3-Month Treasury Bill Index (10%). From the inception date of September 30, 2009 to July 1, 2011, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (75%), Bloomberg Barclays Capital U.S. Aggregate Index (15%) and Citigroup 3-Month Treasury Bill Index (10%). The performance of Class C Shares is based on the performance of Class A Shares prior to their inception. The actual return of the Class C Shares would have been lower than shown because the Class C Shares have higher expenses than Class A Shares. Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganaccessfunds.com or by calling 1-800-480-4111.

The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class A Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganaccessfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS A SHARES</b>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The performance figures in the bar chart do not reflect any deduction for the front-end sales charge which is assessed on Class A Shares. If the sales charge were reflected, the performance figures would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 1st quarter, 2012     9.49%   
Worst Quarter 3rd quarter, 2011   -15.45%

The Fund’s year-to-date total return through 9/30/18 was 3.48%.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS<br/>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher In some cases, the “Return After Taxes on Distributions and Sale of Fund Shares” may exceed the “Return Before Taxes” due to an assumed benefit from any losses on a sale of shares at the end of the measurement period.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are shown only for the Class A Shares and after-tax returns for the other classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. In some cases, the “Return After Taxes on Distributions and Sale of Fund Shares” may exceed the “Return Before Taxes” due to an assumed benefit from any losses on a sale of shares at the end of the measurement period.
A, C, I Shares | JPMorgan Access Growth Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as a % of the Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.50%
Maximum Deferred Sales Charge (Load) as a % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.75% [2],[3]
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets 0.25% [3]
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.23%
Other Expenses rr_OtherExpensesOverAssets 0.48%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.30%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.78%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.35%) [2],[3],[4]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.43% [2],[3],[4]
1 Year rr_ExpenseExampleYear01 $ 589
3 Years rr_ExpenseExampleYear03 953
5 Years rr_ExpenseExampleYear05 1,340
10 Years rr_ExpenseExampleYear10 2,423
1 Year rr_ExpenseExampleNoRedemptionYear01 589
3 Years rr_ExpenseExampleNoRedemptionYear03 953
5 Years rr_ExpenseExampleNoRedemptionYear05 1,340
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,423
2010 rr_AnnualReturn2010 8.96%
2011 rr_AnnualReturn2011 (8.10%)
2012 rr_AnnualReturn2012 12.14%
2013 rr_AnnualReturn2013 16.12%
2014 rr_AnnualReturn2014 0.75%
2015 rr_AnnualReturn2015 (2.12%)
2016 rr_AnnualReturn2016 4.85%
2017 rr_AnnualReturn2017 17.08%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 3.48%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2012
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 9.49%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (15.45%)
Past 1 Year rr_AverageAnnualReturnYear01 11.80%
Past 5 Years rr_AverageAnnualReturnYear05 6.07%
Life of Fund rr_AverageAnnualReturnSinceInception 5.55%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 30, 2009
A, C, I Shares | JPMorgan Access Growth Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as a % of the Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as a % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther 1.00%
Management Fees rr_ManagementFeesOverAssets 0.75% [2],[3]
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25% [3]
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.17%
Other Expenses rr_OtherExpensesOverAssets 0.42%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.30%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.22%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.35%) [2],[3],[4]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.87% [2],[3],[4]
1 Year rr_ExpenseExampleYear01 $ 290
3 Years rr_ExpenseExampleYear03 661
5 Years rr_ExpenseExampleYear05 1,158
10 Years rr_ExpenseExampleYear10 2,527
1 Year rr_ExpenseExampleNoRedemptionYear01 190
3 Years rr_ExpenseExampleNoRedemptionYear03 661
5 Years rr_ExpenseExampleNoRedemptionYear05 1,158
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,527
Past 1 Year rr_AverageAnnualReturnYear01 15.51%
Past 5 Years rr_AverageAnnualReturnYear05 6.53%
Life of Fund rr_AverageAnnualReturnSinceInception 5.64%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 30, 2009
A, C, I Shares | JPMorgan Access Growth Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases as a % of the Offering Price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) as a % of Original Cost of the Shares rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.75% [2],[3]
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.25% [3]
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.16%
Other Expenses rr_OtherExpensesOverAssets 0.41%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.30%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.46%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.35%) [2],[3],[4]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.11% [2],[3],[4]
1 Year rr_ExpenseExampleYear01 $ 113
3 Years rr_ExpenseExampleYear03 427
5 Years rr_ExpenseExampleYear05 764
10 Years rr_ExpenseExampleYear10 1,716
1 Year rr_ExpenseExampleNoRedemptionYear01 113
3 Years rr_ExpenseExampleNoRedemptionYear03 427
5 Years rr_ExpenseExampleNoRedemptionYear05 764
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,716
Past 1 Year rr_AverageAnnualReturnYear01 17.38%
Past 5 Years rr_AverageAnnualReturnYear05 7.33%
Life of Fund rr_AverageAnnualReturnSinceInception 6.42%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 30, 2009
A, C, I Shares | JPMorgan Access Growth Fund | Return After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 9.88%
Past 5 Years rr_AverageAnnualReturnYear05 4.74%
Life of Fund rr_AverageAnnualReturnSinceInception 4.53%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 30, 2009
A, C, I Shares | JPMorgan Access Growth Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 7.92%
Past 5 Years rr_AverageAnnualReturnYear05 4.47%
Life of Fund rr_AverageAnnualReturnSinceInception 4.16%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 30, 2009
A, C, I Shares | JPMorgan Access Growth Fund | ACCESS GROWTH COMPOSITE BENCHMARK (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 17.32%
Past 5 Years rr_AverageAnnualReturnYear05 8.43%
Life of Fund rr_AverageAnnualReturnSinceInception 7.74%
A, C, I Shares | JPMorgan Access Growth Fund | MSCI WORLD INDEX (Net of Foreign Withholding Taxes) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 22.40%
Past 5 Years rr_AverageAnnualReturnYear05 11.64%
Life of Fund rr_AverageAnnualReturnSinceInception 10.07%
A, C, I Shares | JPMorgan Access Growth Fund | BLOOMBERG BARCLAYS GLOBAL AGGREGATE INDEX - HEDGED USD (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 3.04%
Past 5 Years rr_AverageAnnualReturnYear05 3.06%
Life of Fund rr_AverageAnnualReturnSinceInception 3.79%
A, C, I Shares | JPMorgan Access Growth Fund | S&P 500 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 21.83%
Past 5 Years rr_AverageAnnualReturnYear05 15.79%
Life of Fund rr_AverageAnnualReturnSinceInception 14.28%
[1] (under $1 million)
[2] J.P. Morgan Investment Management Inc. and J.P. Morgan Private Investments, Inc. have contractually agreed to waive the investment advisory fee for the Fund by 0.30%. This contract is in effect through 10/31/19.
[3] The shares of the affiliated underlying funds in which the Fund invests a portion of its assets impose a separate investment advisory fee and a service fee. To avoid charging an investment advisory fee and a service fee at an effective rate above 0.45% for investment advisory services and 0.25% for Class A, Class C and Class I Shares for shareholder servicing on affiliated investments, the investment adviser and shareholder servicing agent have contractually agreed to waive a portion of the investment advisory and service fees charged by the underlying funds. This contract is in effect through 10/31/19. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[4] The Fund’s adviser has contractually agreed to waive the advisory fee that it receives from the Fund in an amount equal to the advisory fee paid by Access Growth Fund CS Ltd., the Fund’s wholly-owned subsidiary, to its adviser. This waiver will continue in effect so long as the Fund invests in the subsidiary and may not be terminated without approval by the Fund’s Board of Trustees.
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L Shares | JPMorgan Access Growth Fund
<b>JPMorgan Access Growth Fund <br/>Class/Ticker: L/JXGIX</b>
<b>What is the goal of the Fund?</b>
The Fund seeks capital appreciation.
<b>Fees and Expenses of the Fund </b>
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund Fees and Expenses is included in the total returns of the Fund. Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
<b>ANNUAL FUND OPERATING EXPENSES</b><br/><b>(Expenses that you pay each year as a percentage of the value<br/>of your investment)</b>
Annual Fund Operating Expenses
L Shares
JPMorgan Access Growth Fund
Class L
Management Fees 0.75% [1],[2]
Distribution (Rule 12b-1) Fees none
Other Expenses 0.26%
Service Fees 0.10% [2]
Remainder of Other Expenses 0.16%
Acquired Fund (Underlying Fund) Fees and Expenses 0.30%
Total Annual Fund Operating Expenses 1.31%
Fee Waivers and/or Expense Reimbursements (0.35%) [1],[2],[3]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements 0.96% [1],[2],[3]
[1] J.P. Morgan Investment Management Inc. and J.P. Morgan Private Investments, Inc. have contractually agreed to waive the investment advisory fee for the Fund by 0.30%. This contract is in effect through 10/31/19.
[2] The shares of the affiliated underlying funds in which the Fund invests a portion of its assets impose a separate investment advisory fee and a service fee. To avoid charging an investment advisory fee and a service fee at an effective rate above 0.45% for investment advisory services and 0.10% for Class L Shares for shareholder servicing on affiliated investments, the investment adviser and shareholder servicing agent have contractually agreed to waive a portion of the investment advisory and service fees charged by the underlying funds. This contract is in effect through 10/31/19. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] The Fund’s adviser has contractually agreed to waive the advisory fee that it receives from the Fund in an amount equal to the advisory fee paid by Access Growth Fund CS Ltd., the Fund’s wholly-owned subsidiary, to its adviser. This waiver will continue in effect so long as the Fund invests in the subsidiary and may not be terminated without approval by the Fund’s Board of Trustees.
<b>Example </b>
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example
1 Year
3 Years
5 Years
10 Years
L Shares | JPMorgan Access Growth Fund | CLASS L SHARES | USD ($) 98 381 685 1,548
<b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
L Shares | JPMorgan Access Growth Fund | CLASS L SHARES | USD ($) 98 381 685 1,548
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 27% of the average value of its portfolio.
<b>What are the Fund’s main investment strategies? </b>
The Fund invests in a combination of domestic and international equity, fixed income, and alternative assets, as described below. The Fund invests in mutual funds and exchange-traded funds (ETFs) in the same group of investment companies (i.e., J.P. Morgan Funds). The Fund also invests in open-end and closed-end investment companies (which may or may not be registered under the Investment Company Act of 1940, as amended) and ETFs that are managed by unaffiliated investment advisers (collectively, unaffiliated funds) and directly in individual securities. In addition, to the extent permitted by applicable law or the exemptive relief obtained from the Securities and Exchange Commission (SEC), the Fund invests directly in other financial instruments, including derivatives, such as futures, swaps and structured investments, to gain exposure to, or to overweight or underweight allocations among, various sectors or markets.

The Fund’s adviser is J.P. Morgan Investment Management Inc. (JPMIM or the Adviser) and it sets the Fund’s overall investment strategies. The Fund is managed by J.P. Morgan Private Investments Inc. (JPMPI). JPMPI utilizes an allocation process (Strategic Asset Allocations) to invest the Fund’s assets across the various asset classes and with various sub-advisers. JPMPI and JPMIM use rigorous criteria to select sub-advisers and underlying fund managers to manage certain portions of the Fund’s assets. In choosing whether to buy or sell an investment and to set their allocations, JPMPI considers the following factors: (1) market trends, (2) JPMPI’s outlook for a market capitalization or investment style category, and (3) an underlying fund manager’s performance in various market conditions. JPMPI will also consider the advantages and disadvantages to the Fund of using actively versus passively managed investment vehicles. By combining the strengths of different sub-advisers and underlying fund managers, the Fund seeks to benefit from a variety of investment selection processes and methodologies to achieve its investment objective.

The descriptions below include both the range that the Fund may invest within a particular asset class and the various investments that the Fund may use to gain exposure to such asset class. JPMPI frequently monitors and may make tactical changes to the Strategic Asset Allocations, including shifts among the various asset classes and allocations to the other sub-advisers and underlying fund managers.

U.S. and International Equity: The allocation range will typically be 40%–90% of the Fund’s total assets. The Fund’s equity-related investments consist of J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class are: common stock, preferred stock, structured investments, convertible securities, depositary receipts and warrants to buy common stocks. The Fund invests in foreign and emerging market securities.

U.S. and International Fixed Income: The allocation range will typically be 5%–45% of the Fund’s total assets. The Fund’s fixed income investments include J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class include: U.S. government securities (including agencies and instrumentalities), municipal bonds (including housing authority obligations), domestic and foreign corporate bonds, high yield securities (junk bonds), loan participations and assignments, debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions, mortgage-backed and asset-backed securities, inflation-indexed bonds and Treasury Inflation Protected Securities (TIPS).

Alternative: The allocation range will typically be 0%–35% of the Fund’s total assets. The Fund’s alternative-related investments include J.P. Morgan Funds and unaffiliated funds. Whether investing through a mutual fund or directly in securities, the investments in this asset class give the Fund exposure to: market neutral strategies, absolute return strategies, directional strategies, real estate (including REITs), private equity, mezzanine debt and commodities.

The Fund will gain exposure to commodity markets primarily by investing in the Access Growth Fund CS Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the Subsidiary). The allocation range will typically be 0%–10% of the Fund’s total assets. The Subsidiary is advised by JPMIM and sub-advised by JPMPI. The Subsidiary (unlike the Fund) may invest without limitation in commodity-linked structured notes and other commodity-linked derivative instruments, including derivative instruments linked to the value of a particular commodity or commodity futures contract, or a subset of commodities or commodity futures contracts. However, the Subsidiary is otherwise subject to the same fundamental, non-fundamental and certain other investment restrictions as the Fund. The Subsidiary may use derivatives to obtain long exposure in an attempt to increase the Subsidiary’s income or gain, to hedge various investments and for risk management.

The Fund and the Subsidiary may invest in ETFs, including both JPMorgan ETFs and unaffiliated funds, in order to gain exposure to particular asset classes. An ETF is a registered investment company, depositary receipt or other pooled investment vehicle that typically seeks to track the performance of a particular market index or security. These indexes include not only broad-based market indexes but more specific indexes as well, including those relating to particular sectors, markets, regions or industries.

Ordinarily, the Fund’s investment in a single unaffiliated ETF is limited to 5% of its total assets and in all unaffiliated ETFs to 10% of its total assets. The SEC has issued exemptive orders to many ETFs that allow any fund investing in such ETFs to disregard these 5% and 10% limitations. The Fund intends to invest in unaffiliated ETFs that have received such exemptive orders and it may invest any amount of its total assets in a single ETF or in multiple ETFs.

Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund uses structured notes as tools in the management of portfolio assets. In particular, the Fund uses structured notes for risk management and to increase the Fund’s income or gain. To the extent that the Fund invests in underlying funds, such underlying funds may also use derivatives.
<b>The Fund’s Main Investment Risks </b>
The Fund is subject to management risk and may not achieve its objective if the adviser’s expectations regarding particular instruments or markets are not met.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investments in Mutual Funds and ETFs Risk. The Fund’s investments are concentrated in J.P. Morgan Funds and unaffiliated funds, so the Fund’s investment performance is directly related to the performance of the underlying funds. Shareholders will indirectly bear the expenses incurred by the underlying funds. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated funds creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. The price movement of an index-based ETF may not track the underlying index and may result in a loss. ETFs and closed-end investment companies may trade at a price below their net asset value (also known as a discount).

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund’s portfolio may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. The Fund and certain of the underlying funds that invest in foreign issuers and foreign securities (including depositary receipts) are subject to additional risks, including political and economic risks, civil conflicts and war, greater volatility, expropriation and nationalization risks, sanctions or other measures by the United States or other governments, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” the Fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. These risks are magnified in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Country and Region Risk. Some of the underlying funds concentrate their investments in securities of a single country or region (e.g., China Region or Latin America). Because these underlying funds concentrate their investments in a single country or region, their performance may be more volatile than that of a fund that can invest globally.

Industry and Sector Focus Risk. At times the underlying funds or the Fund may increase the relative emphasis of their investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds or the Fund increase the relative emphasis of their investments in a particular industry or sector, their shares’ values may fluctuate in response to events affecting that industry or sector.

Currency Risk. The Fund and certain of the underlying funds are subject to risks associated with foreign currency. Certain underlying funds are not required to hedge their non-dollar investments back to the U.S. dollar for defensive purposes. As a result, changes in foreign currency exchange rates will affect the value of certain underlying funds’ securities and the price of the underlying funds’ shares. Generally, when the value of the U.S. dollar rises in value relative to a foreign currency, an investment in that country loses value because that currency is worth fewer U.S. dollars. Devaluation of a currency by a country’s government or banking authority also will have a significant impact on the value of any investments denominated in that currency. Currency markets generally are not as regulated as securities markets, may be riskier than other types of investments and may increase the volatility of the Fund.

Equity Securities Risk. The Fund and certain of the underlying funds invest in equity securities (such as stocks) that are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. When the value of the stocks held by the Fund or an underlying fund goes down, the value of your investment in the Fund decreases in value.

Fixed Income Securities Risk. Some of the underlying funds invest in fixed income securities. These securities will increase or decrease in value based on changes in interest rates and are subject to the risk that an issuer or a counterparty will fail to make payments when due or default. If an issuer’s or a counterparty’s financial condition worsens, the credit quality of the issuer or counterparty may deteriorate making it difficult for the underlying fund to sell such investments. If rates increase, the value of these investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. When the value of investments in the Fund or underlying fixed income funds goes down, the value of your investment in the Fund will be affected. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Credit Risk. The Fund’s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

High Yield Securities Risk. Certain of the underlying funds may invest in instruments that are issued by companies which are highly leveraged, less creditworthy or financially distressed. These investments (known as junk bonds) are considered to be speculative and are subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information.

Real Estate Securities Risk. Certain of the underlying funds may invest in real estate securities, including real estate investment trusts (REITs), which are subject to the same risks as direct investments in real estate and mortgages, and their value will depend on the value of the underlying real estate interests. These risks include default, prepayments, changes in value resulting from changes in interest rates and demand for real and rental property, and the management skill and creditworthiness of REIT issuers. The underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which it invests in addition to the expenses of the underlying fund.

Commodity Risk. Certain underlying funds have exposure to commodities. Exposure to commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Derivatives Risk. The Fund and certain of the underlying funds may use derivatives in connection with their investment strategies. Derivatives, including futures, swaps and structured investments, may be riskier than other types of investments because they may be more sensitive to changes in economic or market conditions and could result in losses that significantly exceed the Fund’s original investment. Many derivatives create leverage thereby causing the Fund to be more volatile than it would have been if it had not used derivatives. Certain derivatives also expose the Fund and the underlying funds to counterparty risk (the risk that the derivative counterparty will not fulfill its contractual obligations), including credit risk of the derivative counterparty. Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or underlying funds do not have a claim on the reference assets and are subject to enhanced counterparty risk. Certain of the Fund’s transactions in foreign currency derivatives and other derivatives could also affect the amount, timing and character of distributions to shareholders which may result in the Fund realizing more short-term capital gain and ordinary income subject to tax at ordinary income tax rates than it would if it did not engage in such transactions, which may adversely impact the Fund’s after-tax returns. In addition, the Fund and certain of the underlying funds may use derivatives for non-hedging purposes, which increases the Fund’s or the underlying funds’ potential for loss.

Structured Note Risk. The Fund, or certain of the underlying funds, invest in commodity, currency, equity and fixed income linked structured notes. Structured notes are typically privately negotiated transactions between two or more parties. The fees associated with a structured note may lead to increased tracking error. The Fund also bears the risk that the issuer of the structured note will default. The Fund bears the risk of loss of its principal investment and periodic payments expected to be received for the duration of its investment. In addition, a liquid market may not exist for the structured notes. The lack of a liquid market may make it difficult to sell the structured notes at an acceptable price or to accurately value them.

Index Investing Risk. Certain of the underlying funds, including ETFs, in which the Fund may invest are index funds. Index funds are not actively managed and are designed to track the performance and holdings of a specified index. Securities may be purchased, held and sold by an index fund at times when an actively managed fund would not do so. There is also the risk that the underlying fund’s performance may not correlate with the performance of the index.

Preferred Stock Risk. The Fund and certain underlying funds may invest in preferred stock. Preferred stock generally has a preference as to dividends and liquidation over an issuer’s common stock but ranks junior to debt securities in an issuer’s capital structure. Unlike interest payments on debt securities, preferred stock dividends are payable only if declared by the issuer’s board of directors. Preferred stock also may be subject to optional or mandatory redemption provisions.

Government Securities Risk. The Fund and certain of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), or the Federal Home Loan Mortgage Corporation (Freddie Mac)). U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of interest or principal. This would result in losses to the Fund. Securities issued or guaranteed by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government related organizations may not have the funds to meet their payment obligations in the future. U.S. government securities include zero coupon securities, which tend to be subject to greater market risk than interest-paying securities of similar maturities.

High Portfolio Turnover Risk. The Fund may engage in active and frequent trading leading to increased portfolio turnover, higher transaction costs, and the possibility of increased capital gains, including short-term capital gains that will generally be taxable to shareholders as ordinary income.

Subsidiary Risk. By investing in the Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary’s investments. The derivatives and other investments held by the Subsidiary are generally similar to those that are permitted to be held by the Fund and are subject to the same risks that apply to similar investments if held directly by the Fund. These risks are described elsewhere in this prospectus. There can be no assurance that the investment objective of the Subsidiary will be achieved. The Subsidiary is not registered under the Investment Company Act of 1940 (1940 Act), and, unless otherwise noted in this prospectus, is not subject to all the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands could result in the inability of the Fund and/or the Subsidiary to operate as described in this prospectus and could adversely affect the Fund.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

<b>The Fund’s Past Performance</b>
This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class L Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund. The table compares that performance to the Access Growth Composite Benchmark, a customized benchmark, the MSCI World Index (net of foreign withholding taxes), a broad-based securities market index, the Bloomberg Barclays Global Aggregate Index – Hedged USD, a broad-based securities market index, and the S&P 500 Index, a broad-based securities market index. Since January 1, 2018, the Access Growth Composite Benchmark is a composite benchmark comprised of unmanaged indexes that corresponds to the Fund’s model allocation and that consists of the MSCI World Index (net of foreign withholding taxes) (75%), Bloomberg Barclays Global Aggregate Index Hedged (20%), and HFRX Global Hedge Fund Index (5%). From July 1, 2016 until December 31, 2017, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (75%), Bloomberg Barclays Global Aggregate Index (15%), Bloomberg Barclays T-Bill 1-3 Month (5%), and HFRX Global Hedge Fund Index (5%). From April 1, 2013 until June 30, 2016, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (70%), Bloomberg Barclays U.S. Aggregate Index (15%), Citigroup 3-Month Treasury Bill Index (5%), Bloomberg Commodity Index (5%) and HFRX Global Hedge Fund Index (5%). From July 1, 2011 until April 1, 2013, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (70%), Bloomberg Barclays U.S. Aggregate Index (20%) and Citigroup 3-Month Treasury Bill Index (10%). From the inception date of September 30, 2009 to July 1, 2011, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (75%), Bloomberg Barclays Capital U.S. Aggregate Index (15%) and Citigroup 3-Month Treasury Bill Index (10%). Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganaccessfunds.com or by calling 1-800-480-4111.
<b>YEAR-BY-YEAR RETURNS — CLASS L SHARES</b>
Bar Chart
Best Quarter 1st quarter, 2012     9.69%   
Worst Quarter 3rd quarter, 2011   -15.33%

The Fund’s year-to-date total return through 9/30/18 was 3.78%.
<b>AVERAGE ANNUAL TOTAL RETURNS</b><br/><b>(For periods ended December 31, 2017)</b>
Average Annual Total Returns - L Shares - JPMorgan Access Growth Fund
Past 1 Year
Past 5 Years
Life of Fund
Inception Date
CLASS L SHARES 17.62% 7.50% 6.59% Sep. 30, 2009
CLASS L SHARES | Return After Taxes on Distributions 15.39% 5.99% 5.41% Sep. 30, 2009
CLASS L SHARES | Return After Taxes on Distributions and Sale of Fund Shares 11.30% 5.54% 4.95% Sep. 30, 2009
ACCESS GROWTH COMPOSITE BENCHMARK (Reflects No Deduction for Fees, Expenses, or Taxes) 17.32% 8.43% 7.74%  
MSCI WORLD INDEX (Net of Foreign Withholding Taxes) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes) 22.40% 11.64% 10.07%  
BLOOMBERG BARCLAYS GLOBAL AGGREGATE INDEX - HEDGED USD (Reflects No Deduction for Fees, Expenses, or Taxes) 3.04% 3.06% 3.79%  
S&P 500 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) 21.83% 15.79% 14.28%  
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. In some cases, the “Return After Taxes on Distributions and Sale of Fund Shares” may exceed the “Return Before Taxes” due to an assumed benefit from any losses on a sale of shares at the end of the measurement period.
XML 114 R261.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
L Shares | JPMorgan Access Growth Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>JPMorgan Access Growth Fund <br/>Class/Ticker: L/JXGIX</b>
Objective [Heading] rr_ObjectiveHeading <b>What is the goal of the Fund?</b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Fund seeks capital appreciation.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. “Acquired Fund Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, including affiliated money market funds, other mutual funds, exchange-traded funds and business development companies. The impact of Acquired Fund Fees and Expenses is included in the total returns of the Fund. Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES</b><br/><b>(Expenses that you pay each year as a percentage of the value<br/>of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 27% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 27.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund Fees and Expenses are not direct costs of the Fund, are not used to calculate the Fund’s net asset value per share and are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund’s prospectus.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COST WOULD BE:</b>
Strategy [Heading] rr_StrategyHeading <b>What are the Fund’s main investment strategies? </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests in a combination of domestic and international equity, fixed income, and alternative assets, as described below. The Fund invests in mutual funds and exchange-traded funds (ETFs) in the same group of investment companies (i.e., J.P. Morgan Funds). The Fund also invests in open-end and closed-end investment companies (which may or may not be registered under the Investment Company Act of 1940, as amended) and ETFs that are managed by unaffiliated investment advisers (collectively, unaffiliated funds) and directly in individual securities. In addition, to the extent permitted by applicable law or the exemptive relief obtained from the Securities and Exchange Commission (SEC), the Fund invests directly in other financial instruments, including derivatives, such as futures, swaps and structured investments, to gain exposure to, or to overweight or underweight allocations among, various sectors or markets.

The Fund’s adviser is J.P. Morgan Investment Management Inc. (JPMIM or the Adviser) and it sets the Fund’s overall investment strategies. The Fund is managed by J.P. Morgan Private Investments Inc. (JPMPI). JPMPI utilizes an allocation process (Strategic Asset Allocations) to invest the Fund’s assets across the various asset classes and with various sub-advisers. JPMPI and JPMIM use rigorous criteria to select sub-advisers and underlying fund managers to manage certain portions of the Fund’s assets. In choosing whether to buy or sell an investment and to set their allocations, JPMPI considers the following factors: (1) market trends, (2) JPMPI’s outlook for a market capitalization or investment style category, and (3) an underlying fund manager’s performance in various market conditions. JPMPI will also consider the advantages and disadvantages to the Fund of using actively versus passively managed investment vehicles. By combining the strengths of different sub-advisers and underlying fund managers, the Fund seeks to benefit from a variety of investment selection processes and methodologies to achieve its investment objective.

The descriptions below include both the range that the Fund may invest within a particular asset class and the various investments that the Fund may use to gain exposure to such asset class. JPMPI frequently monitors and may make tactical changes to the Strategic Asset Allocations, including shifts among the various asset classes and allocations to the other sub-advisers and underlying fund managers.

U.S. and International Equity: The allocation range will typically be 40%–90% of the Fund’s total assets. The Fund’s equity-related investments consist of J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class are: common stock, preferred stock, structured investments, convertible securities, depositary receipts and warrants to buy common stocks. The Fund invests in foreign and emerging market securities.

U.S. and International Fixed Income: The allocation range will typically be 5%–45% of the Fund’s total assets. The Fund’s fixed income investments include J.P. Morgan Funds, unaffiliated funds and individual securities. Whether investing through an investment company or directly in securities, the investments in this asset class include: U.S. government securities (including agencies and instrumentalities), municipal bonds (including housing authority obligations), domestic and foreign corporate bonds, high yield securities (junk bonds), loan participations and assignments, debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions, mortgage-backed and asset-backed securities, inflation-indexed bonds and Treasury Inflation Protected Securities (TIPS).

Alternative: The allocation range will typically be 0%–35% of the Fund’s total assets. The Fund’s alternative-related investments include J.P. Morgan Funds and unaffiliated funds. Whether investing through a mutual fund or directly in securities, the investments in this asset class give the Fund exposure to: market neutral strategies, absolute return strategies, directional strategies, real estate (including REITs), private equity, mezzanine debt and commodities.

The Fund will gain exposure to commodity markets primarily by investing in the Access Growth Fund CS Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the Subsidiary). The allocation range will typically be 0%–10% of the Fund’s total assets. The Subsidiary is advised by JPMIM and sub-advised by JPMPI. The Subsidiary (unlike the Fund) may invest without limitation in commodity-linked structured notes and other commodity-linked derivative instruments, including derivative instruments linked to the value of a particular commodity or commodity futures contract, or a subset of commodities or commodity futures contracts. However, the Subsidiary is otherwise subject to the same fundamental, non-fundamental and certain other investment restrictions as the Fund. The Subsidiary may use derivatives to obtain long exposure in an attempt to increase the Subsidiary’s income or gain, to hedge various investments and for risk management.

The Fund and the Subsidiary may invest in ETFs, including both JPMorgan ETFs and unaffiliated funds, in order to gain exposure to particular asset classes. An ETF is a registered investment company, depositary receipt or other pooled investment vehicle that typically seeks to track the performance of a particular market index or security. These indexes include not only broad-based market indexes but more specific indexes as well, including those relating to particular sectors, markets, regions or industries.

Ordinarily, the Fund’s investment in a single unaffiliated ETF is limited to 5% of its total assets and in all unaffiliated ETFs to 10% of its total assets. The SEC has issued exemptive orders to many ETFs that allow any fund investing in such ETFs to disregard these 5% and 10% limitations. The Fund intends to invest in unaffiliated ETFs that have received such exemptive orders and it may invest any amount of its total assets in a single ETF or in multiple ETFs.

Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund uses structured notes as tools in the management of portfolio assets. In particular, the Fund uses structured notes for risk management and to increase the Fund’s income or gain. To the extent that the Fund invests in underlying funds, such underlying funds may also use derivatives.
Risk [Heading] rr_RiskHeading <b>The Fund’s Main Investment Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The Fund is subject to management risk and may not achieve its objective if the adviser’s expectations regarding particular instruments or markets are not met.

An investment in this Fund or any other fund may not provide a complete investment program. The suitability of an investment in the Fund should be considered based on the investment objective, strategies and risks described in this prospectus, considered in light of all of the other investments in your portfolio, as well as your risk tolerance, financial goals and time horizons. You may want to consult with a financial advisor to determine if this Fund is suitable for you.


The Fund is subject to the main risks noted below, any of which may adversely affect the Fund’s performance and ability to meet its investment objective.

Investments in Mutual Funds and ETFs Risk. The Fund’s investments are concentrated in J.P. Morgan Funds and unaffiliated funds, so the Fund’s investment performance is directly related to the performance of the underlying funds. Shareholders will indirectly bear the expenses incurred by the underlying funds. In addition, the Adviser’s authority to allocate investments among J.P. Morgan Funds and unaffiliated funds creates conflicts of interest. For example, investing in J.P. Morgan Funds could cause the Fund to incur higher fees and will cause the Adviser and/or its affiliates to receive greater compensation, increase assets under management or support particular investment strategies or J.P. Morgan Funds. The price movement of an index-based ETF may not track the underlying index and may result in a loss. ETFs and closed-end investment companies may trade at a price below their net asset value (also known as a discount).

General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund’s portfolio may underperform in comparison to securities in general financial markets, a particular financial market or other asset classes, due to a number of factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, terrorism, regulatory events and government controls.

Foreign Securities and Emerging Markets Risk. The Fund and certain of the underlying funds that invest in foreign issuers and foreign securities (including depositary receipts) are subject to additional risks, including political and economic risks, civil conflicts and war, greater volatility, expropriation and nationalization risks, sanctions or other measures by the United States or other governments, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” the Fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. These risks are magnified in “emerging markets.” Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers.

Country and Region Risk. Some of the underlying funds concentrate their investments in securities of a single country or region (e.g., China Region or Latin America). Because these underlying funds concentrate their investments in a single country or region, their performance may be more volatile than that of a fund that can invest globally.

Industry and Sector Focus Risk. At times the underlying funds or the Fund may increase the relative emphasis of their investments in a particular industry or sector. The prices of securities of issuers in a particular industry or sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the underlying funds or the Fund increase the relative emphasis of their investments in a particular industry or sector, their shares’ values may fluctuate in response to events affecting that industry or sector.

Currency Risk. The Fund and certain of the underlying funds are subject to risks associated with foreign currency. Certain underlying funds are not required to hedge their non-dollar investments back to the U.S. dollar for defensive purposes. As a result, changes in foreign currency exchange rates will affect the value of certain underlying funds’ securities and the price of the underlying funds’ shares. Generally, when the value of the U.S. dollar rises in value relative to a foreign currency, an investment in that country loses value because that currency is worth fewer U.S. dollars. Devaluation of a currency by a country’s government or banking authority also will have a significant impact on the value of any investments denominated in that currency. Currency markets generally are not as regulated as securities markets, may be riskier than other types of investments and may increase the volatility of the Fund.

Equity Securities Risk. The Fund and certain of the underlying funds invest in equity securities (such as stocks) that are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company’s financial condition, sometimes rapidly or unpredictably. When the value of the stocks held by the Fund or an underlying fund goes down, the value of your investment in the Fund decreases in value.

Fixed Income Securities Risk. Some of the underlying funds invest in fixed income securities. These securities will increase or decrease in value based on changes in interest rates and are subject to the risk that an issuer or a counterparty will fail to make payments when due or default. If an issuer’s or a counterparty’s financial condition worsens, the credit quality of the issuer or counterparty may deteriorate making it difficult for the underlying fund to sell such investments. If rates increase, the value of these investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. When the value of investments in the Fund or underlying fixed income funds goes down, the value of your investment in the Fund will be affected. Given that the Federal Reserve has been raising interest rates, the Fund may face a heightened level of interest rate risk.

Credit Risk. The Fund’s investments are subject to the risk that issuers and/or counterparties will fail to make payments when due or default completely. Prices of the Fund’s investments may be adversely affected if any of the issuers or counterparties it is invested in are subject to an actual or perceived deterioration in their credit quality. Credit spreads may increase, which may reduce the market values of the Fund’s securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer’s securities.

High Yield Securities Risk. Certain of the underlying funds may invest in instruments that are issued by companies which are highly leveraged, less creditworthy or financially distressed. These investments (known as junk bonds) are considered to be speculative and are subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties and potential illiquidity. Such investments are subject to additional risks including subordination to other creditors, no collateral or limited rights in collateral, lack of a regular trading market, extended settlement periods, liquidity risks, prepayment risks, potentially less protections under the federal securities laws and lack of publicly available information.

Real Estate Securities Risk. Certain of the underlying funds may invest in real estate securities, including real estate investment trusts (REITs), which are subject to the same risks as direct investments in real estate and mortgages, and their value will depend on the value of the underlying real estate interests. These risks include default, prepayments, changes in value resulting from changes in interest rates and demand for real and rental property, and the management skill and creditworthiness of REIT issuers. The underlying funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which it invests in addition to the expenses of the underlying fund.

Commodity Risk. Certain underlying funds have exposure to commodities. Exposure to commodity-related securities and derivatives may subject the Fund to greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity. In addition, to the extent that an underlying fund gains exposure to an asset through synthetic replication by investing in commodity-linked investments rather than directly in the asset, it may not have a claim on the applicable underlying asset and will be subject to enhanced counterparty risk.

Derivatives Risk. The Fund and certain of the underlying funds may use derivatives in connection with their investment strategies. Derivatives, including futures, swaps and structured investments, may be riskier than other types of investments because they may be more sensitive to changes in economic or market conditions and could result in losses that significantly exceed the Fund’s original investment. Many derivatives create leverage thereby causing the Fund to be more volatile than it would have been if it had not used derivatives. Certain derivatives also expose the Fund and the underlying funds to counterparty risk (the risk that the derivative counterparty will not fulfill its contractual obligations), including credit risk of the derivative counterparty. Certain derivatives are synthetic instruments that attempt to replicate the performance of certain reference assets. With regard to such derivatives, the Fund or underlying funds do not have a claim on the reference assets and are subject to enhanced counterparty risk. Certain of the Fund’s transactions in foreign currency derivatives and other derivatives could also affect the amount, timing and character of distributions to shareholders which may result in the Fund realizing more short-term capital gain and ordinary income subject to tax at ordinary income tax rates than it would if it did not engage in such transactions, which may adversely impact the Fund’s after-tax returns. In addition, the Fund and certain of the underlying funds may use derivatives for non-hedging purposes, which increases the Fund’s or the underlying funds’ potential for loss.

Structured Note Risk. The Fund, or certain of the underlying funds, invest in commodity, currency, equity and fixed income linked structured notes. Structured notes are typically privately negotiated transactions between two or more parties. The fees associated with a structured note may lead to increased tracking error. The Fund also bears the risk that the issuer of the structured note will default. The Fund bears the risk of loss of its principal investment and periodic payments expected to be received for the duration of its investment. In addition, a liquid market may not exist for the structured notes. The lack of a liquid market may make it difficult to sell the structured notes at an acceptable price or to accurately value them.

Index Investing Risk. Certain of the underlying funds, including ETFs, in which the Fund may invest are index funds. Index funds are not actively managed and are designed to track the performance and holdings of a specified index. Securities may be purchased, held and sold by an index fund at times when an actively managed fund would not do so. There is also the risk that the underlying fund’s performance may not correlate with the performance of the index.

Preferred Stock Risk. The Fund and certain underlying funds may invest in preferred stock. Preferred stock generally has a preference as to dividends and liquidation over an issuer’s common stock but ranks junior to debt securities in an issuer’s capital structure. Unlike interest payments on debt securities, preferred stock dividends are payable only if declared by the issuer’s board of directors. Preferred stock also may be subject to optional or mandatory redemption provisions.

Government Securities Risk. The Fund and certain of the underlying funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), or the Federal Home Loan Mortgage Corporation (Freddie Mac)). U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of interest or principal. This would result in losses to the Fund. Securities issued or guaranteed by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government related organizations may not have the funds to meet their payment obligations in the future. U.S. government securities include zero coupon securities, which tend to be subject to greater market risk than interest-paying securities of similar maturities.

High Portfolio Turnover Risk. The Fund may engage in active and frequent trading leading to increased portfolio turnover, higher transaction costs, and the possibility of increased capital gains, including short-term capital gains that will generally be taxable to shareholders as ordinary income.

Subsidiary Risk. By investing in the Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary’s investments. The derivatives and other investments held by the Subsidiary are generally similar to those that are permitted to be held by the Fund and are subject to the same risks that apply to similar investments if held directly by the Fund. These risks are described elsewhere in this prospectus. There can be no assurance that the investment objective of the Subsidiary will be achieved. The Subsidiary is not registered under the Investment Company Act of 1940 (1940 Act), and, unless otherwise noted in this prospectus, is not subject to all the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands could result in the inability of the Fund and/or the Subsidiary to operate as described in this prospectus and could adversely affect the Fund.

Transactions Risk. The Fund or an underlying fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, for both the Fund and underlying funds, large purchases of a fund’s shares may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.

Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.

You could lose money investing in the Fund.

Risk Lose Money [Text] rr_RiskLoseMoney You could lose money investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution Investments in the Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>The Fund’s Past Performance</b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock This section provides some indication of the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Class L Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund. The table compares that performance to the Access Growth Composite Benchmark, a customized benchmark, the MSCI World Index (net of foreign withholding taxes), a broad-based securities market index, the Bloomberg Barclays Global Aggregate Index – Hedged USD, a broad-based securities market index, and the S&P 500 Index, a broad-based securities market index. Since January 1, 2018, the Access Growth Composite Benchmark is a composite benchmark comprised of unmanaged indexes that corresponds to the Fund’s model allocation and that consists of the MSCI World Index (net of foreign withholding taxes) (75%), Bloomberg Barclays Global Aggregate Index Hedged (20%), and HFRX Global Hedge Fund Index (5%). From July 1, 2016 until December 31, 2017, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (75%), Bloomberg Barclays Global Aggregate Index (15%), Bloomberg Barclays T-Bill 1-3 Month (5%), and HFRX Global Hedge Fund Index (5%). From April 1, 2013 until June 30, 2016, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (70%), Bloomberg Barclays U.S. Aggregate Index (15%), Citigroup 3-Month Treasury Bill Index (5%), Bloomberg Commodity Index (5%) and HFRX Global Hedge Fund Index (5%). From July 1, 2011 until April 1, 2013, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (70%), Bloomberg Barclays U.S. Aggregate Index (20%) and Citigroup 3-Month Treasury Bill Index (10%). From the inception date of September 30, 2009 to July 1, 2011, the Access Growth Composite Benchmark was a composite benchmark comprised of the MSCI World Index (net of foreign withholding taxes) (75%), Bloomberg Barclays Capital U.S. Aggregate Index (15%) and Citigroup 3-Month Treasury Bill Index (10%). Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future. Updated performance information is available by visiting www.jpmorganaccessfunds.com or by calling 1-800-480-4111.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows how the performance of the Fund’s Class L Shares has varied from year to year for the past eight calendar years. The table shows the average annual total returns over the past one year, five years and the life of the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-480-4111
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.jpmorganaccessfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading <b>YEAR-BY-YEAR RETURNS — CLASS L SHARES</b>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter 1st quarter, 2012     9.69%   
Worst Quarter 3rd quarter, 2011   -15.33%

The Fund’s year-to-date total return through 9/30/18 was 3.78%.
Performance Table Heading rr_PerformanceTableHeading <b>AVERAGE ANNUAL TOTAL RETURNS</b><br/><b>(For periods ended December 31, 2017)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher In some cases, the “Return After Taxes on Distributions and Sale of Fund Shares” may exceed the “Return Before Taxes” due to an assumed benefit from any losses on a sale of shares at the end of the measurement period.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. In some cases, the “Return After Taxes on Distributions and Sale of Fund Shares” may exceed the “Return Before Taxes” due to an assumed benefit from any losses on a sale of shares at the end of the measurement period.
L Shares | JPMorgan Access Growth Fund | Class L  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.75% [1],[2]
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets 0.10% [2]
Remainder of Other Expenses rr_Component2OtherExpensesOverAssets 0.16%
Other Expenses rr_OtherExpensesOverAssets 0.26%
Acquired Fund (Underlying Fund) Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.30%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.31%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.35%) [1],[2],[3]
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.96% [1],[2],[3]
1 Year rr_ExpenseExampleYear01 $ 98
3 Years rr_ExpenseExampleYear03 381
5 Years rr_ExpenseExampleYear05 685
10 Years rr_ExpenseExampleYear10 1,548
1 Year rr_ExpenseExampleNoRedemptionYear01 98
3 Years rr_ExpenseExampleNoRedemptionYear03 381
5 Years rr_ExpenseExampleNoRedemptionYear05 685
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,548
2010 rr_AnnualReturn2010 9.47%
2011 rr_AnnualReturn2011 (7.83%)
2012 rr_AnnualReturn2012 12.67%
2013 rr_AnnualReturn2013 16.57%
2014 rr_AnnualReturn2014 1.17%
2015 rr_AnnualReturn2015 (1.73%)
2016 rr_AnnualReturn2016 5.32%
2017 rr_AnnualReturn2017 17.62%
Year to Date Return, Label rr_YearToDateReturnLabel The Fund’s year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 3.78%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <b>Best Quarter</b>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2012
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 9.69%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <b>Worst Quarter</b>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (15.33%)
Past 1 Year rr_AverageAnnualReturnYear01 17.62%
Past 5 Years rr_AverageAnnualReturnYear05 7.50%
Life of Fund rr_AverageAnnualReturnSinceInception 6.59%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 30, 2009
L Shares | JPMorgan Access Growth Fund | Return After Taxes on Distributions | Class L  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 15.39%
Past 5 Years rr_AverageAnnualReturnYear05 5.99%
Life of Fund rr_AverageAnnualReturnSinceInception 5.41%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 30, 2009
L Shares | JPMorgan Access Growth Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class L  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 11.30%
Past 5 Years rr_AverageAnnualReturnYear05 5.54%
Life of Fund rr_AverageAnnualReturnSinceInception 4.95%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 30, 2009
L Shares | JPMorgan Access Growth Fund | ACCESS GROWTH COMPOSITE BENCHMARK (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 17.32%
Past 5 Years rr_AverageAnnualReturnYear05 8.43%
Life of Fund rr_AverageAnnualReturnSinceInception 7.74%
L Shares | JPMorgan Access Growth Fund | MSCI WORLD INDEX (Net of Foreign Withholding Taxes) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 22.40%
Past 5 Years rr_AverageAnnualReturnYear05 11.64%
Life of Fund rr_AverageAnnualReturnSinceInception 10.07%
L Shares | JPMorgan Access Growth Fund | BLOOMBERG BARCLAYS GLOBAL AGGREGATE INDEX - HEDGED USD (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 3.04%
Past 5 Years rr_AverageAnnualReturnYear05 3.06%
Life of Fund rr_AverageAnnualReturnSinceInception 3.79%
L Shares | JPMorgan Access Growth Fund | S&P 500 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 Year rr_AverageAnnualReturnYear01 21.83%
Past 5 Years rr_AverageAnnualReturnYear05 15.79%
Life of Fund rr_AverageAnnualReturnSinceInception 14.28%
[1] J.P. Morgan Investment Management Inc. and J.P. Morgan Private Investments, Inc. have contractually agreed to waive the investment advisory fee for the Fund by 0.30%. This contract is in effect through 10/31/19.
[2] The shares of the affiliated underlying funds in which the Fund invests a portion of its assets impose a separate investment advisory fee and a service fee. To avoid charging an investment advisory fee and a service fee at an effective rate above 0.45% for investment advisory services and 0.10% for Class L Shares for shareholder servicing on affiliated investments, the investment adviser and shareholder servicing agent have contractually agreed to waive a portion of the investment advisory and service fees charged by the underlying funds. This contract is in effect through 10/31/19. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] The Fund’s adviser has contractually agreed to waive the advisory fee that it receives from the Fund in an amount equal to the advisory fee paid by Access Growth Fund CS Ltd., the Fund’s wholly-owned subsidiary, to its adviser. This waiver will continue in effect so long as the Fund invests in the subsidiary and may not be terminated without approval by the Fund’s Board of Trustees.
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Risk/Return: rr_RiskReturnAbstract  
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Prospectus Date rr_ProspectusDate Nov. 01, 2018
Document Creation Date dei_DocumentCreationDate Oct. 25, 2018
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