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Factsheet: Jpmorgan Access Balanced Fund (AC)

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Factsheet: Jpmorgan Access Balanced Fund (AC) INVESTMENT PRODUCTS: • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE A Shares (JXBAX) JPMorgan C Shares (JXBCX) Access Balanced Fund Data as of June 30, 2021 Fund overview Total returns Average annual total returns Latest Objective Performance at NAV (%) QTR YTD 1 yr 3 yrs 5 yrs 10 yrs The Fund seeks total return. A Shares 4.79 7.30 21.11 9.74 9.06 5.73 Strategy C Shares 4.65 7.02 20.50 9.19 8.52 5.31 Invests in a combination of domestic and international equity, Bloomberg Barclays Global Aggregate Index - Hedged USD 0.98 -1.52 0.08 4.59 2.98 3.87 fixed income and alternative assets: • Typically 30-75% in U.S. and international equity, 25-60% in MSCI World Index (net of foreign withholding taxes) 7.74 13.05 39.04 14.99 14.83 10.65 U.S. and international fixed income and 0-30% in S&P 500 Index 8.55 15.25 40.79 18.67 17.65 14.84 alternatives. Access Balanced Composite Benchmark 4.74 6.58 21.01 10.61 9.69 7.02 • May use derivatives to hedge various investments, for risk management and to increase income or gain. With sales charges (%) • May short sell. A Shares with 4.50% max. sales charge 0.09 2.49 15.63 8.08 8.07 5.24 • Utilizes an allocation process to invest assets across various C Shares with 1.00% max. CDSC2 3.65 6.02 19.50 9.19 8.52 5.31 asset classes. The performance quoted is past performance and is not a guarantee of future results. Mutual funds are Portfolio characteristics subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that Standard deviation (3 yr.)1 10.66 an investor's shares, when redeemed, may be worth more or less than original cost. Current performance Number of holdings 257 may be higher or lower than the performance data shown. For performance current to the most recent month- end, please call 1-800-480-4111. Fund assets (in millions) $487.42 Portfolio statistics Annual expenses A Shares C Shares A Shares C Shares Gross expenses (%) 1.18 1.67 Inception date 9/30/2009 1/4/2010 Net expenses (%) 0.92 1.42 Share class number 3229 2025 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 fees and expenses, dividend and interest expenses CUSIP 48121A779 48121A654 related to short sales, interest, taxes, expenses related to litigation and potential litigation and extraordinary expenses) Investment minimum $1,000 $1,000 exceed 0.68% for A Shares and 1.18% for C Shares of the average daily net assets. 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 has Portfolio allocation (%) contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the fees and expenses of Equity 61.3 the affiliated money market funds incurred by the Fund because of the Fund's investment in such money market funds. Fixed Income* 33.4 This waiver is in effect through 10/31/2021 for A Shares and 10/31/2021 for C Shares, at which time the adviser and/or Alternatives 5.3 its affiliates will determine whether to renew or revise it. The difference between net and gross fees includes all applicable fee waivers and expense reimbursements. †Due to rounding, values may not total 100%. *Other Assets (Liabilities) Net is included in Fixed Income. Investment Review • The second quarter of 2021 saw wide dispersion in performance across asset classes. The successful Strategic asset allocation rollout of COVID-19 vaccinations in the U.S. is helping the economy recover and is boosting company 25-60% earnings. This is pushing equity markets to trade at or near all-time highs. While certain international Fixed Income regions are behind in the COVID recovery, we expect them to follow the path of the U.S. and Cash • As markets continued their recovery following a successful rollout of COVID-19 vaccinations, the MSCI USA Index and the S&P 500 returned 8.79% and 8.55%, respectively, during the second quarter of 30-75% 2021. Developed non-U.S. and Emerging Markets Equities also ended the quarter on a positive note, Equity with MSCI Europe, Australasia, and Far East (EAFE), MSCI Emerging Markets and MSCI All Country Asia ex-Japan Indices up 5.17%, 5.05% and 3.60%, respectively. • In June, the Federal Open Market Committee decided to maintain the target range for the federal funds 0-30% Alternative rate at 0-0.25%, with the view that this level is appropriate to support economic activity, the labor Assets market, and inflation. • The Fund's Equity allocation underperformed the MSCI World Index, while the Fixed Income allocation ^ Current asset allocation (%) outperformed the Bloomberg Barclays Global Aggregate Index (Hedged USD). Overall, the Fund's Fixed Income and Cash overweight to Equities and underweight to Fixed Income contributed to the Fund's outperformance Fixed Income 32.5 relative to its benchmark. Within Fixed Income, an overweight to High Yield was a contributor to the Cash^^ 0.9 Fund's relative performance. The Fund's Liquid Alternatives allocation outperformed the HFRX Global Alternative Assets Hedge Fund Index. Alternative Strategies 2.8 Equity Long/Short 1.0 Diversified Strategies 1.5 Equity US Equity 39.8 International Equity 21.5 ^Allocation percentage represents the Implementation Vehicle market value as a percentage of the Fund’s estimated total assets. Trades done on the last day of the month are not included. Due to rounding, values may not total 100%. ^^Other Assets (Liabilities) Net is included in the cash balance. Please refer to the back of the page for important disclosure information including risks associated with investing in the Fund. INVESTMENT PRODUCTS: • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE A Shares (JXBAX) JPMorgan Access Balanced Fund C Shares (JXBCX) Data as of June 30, 2021 Outlook and Strategy • We believe the global economy will continue to recover in 2021, and maintain a constructive outlook for markets and economic activity. While short-term risks exist, we believe we are in the middle of a new economic cycle. Accommodative monetary and fiscal policy have helped stabilize global economies and markets, while the COVID-19 vaccine rollout is helping markets trade near all-time highs. • We are overweight Equities, as a result of our deliberate re-risking of portfolios. The U.S. continues to remain our largest allocation across regions, as it is where we have the most confidence in earnings resiliency. From a regional perspective, we are currently overweight European equities, which have lagged global peers through the recovery, and we believe they have upside as vaccinations and re-opening trends accelerate. • We are underweight broad Fixed Income. Since 2020, we have been overweight High Yield (HY), given attractive spread levels. However, we reduced our allocation to HY recently, in favor of Equities. We still believe HY offers value from a carry perspective. High quality core Fixed Income remains a key anchor to help diversify risks in portfolios. • Our Alternatives allocation continues to serve as a diversifier against equity and interest rate volatility. Please refer to the back of the page for important disclosure information including risks associated with investing in the Fund. INVESTMENT PRODUCTS: • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE A Shares (JXBAX) JPMorgan Access Balanced Fund C Shares (JXBCX) Data as of June 30, 2021 Equity allocation^ Portfolio allocation Regional allocation Asset Class Implementation Vehicle Allocation (%)^ EQUITY 61.3 3.3% 3.4% 2.4% Emerging US 39.8 Developed Asia Canada Markets Large Cap 39.8 4.7% Core iShares® S&P 500 Index Fund (IVV) 28.7 Japan 7.5% SPDR® S&P 500 ETF Trust (SPY) 11.1 EAFE International 21.5 13.7% EAFE 4.6 Europe 64.9% T. Rowe Price Overseas Stock Portfolio 1.6 US Capital Guardian International Equity Portfolio 1.5 iShares® MSCI EAFE Index Fund (EFA) 1.5 Investment style Europe 8.4 JPMorgan BetaBuilders Europe ETF 8.4 5.1% Japan 2.9 Fundamental JPM Betabuilders Japan ETF 2.9 Strategies Developed Asia 1.5 JPM Betabuilders Developed Asia ex-Japan ETF 1.5 Emerging Markets 2.1 iShares Core MSCI Emerging Markets ETF 2.1 Canada 2.0 JPMorgan BetaBuilders Canada ETF 2.0 ALTERNATIVE ASSETS 5.3 94.9% Alternative Strategies 2.8 Passive Strategies Marshall Wace Developed Europe TOPS Fund 1.8 Blackrock Event Driven Fund 1.0 Equity Long/Short 1.0 Alternative assets allocation^ Neuberger L/S Fund 1.0 Alternatives portfolio construction Diversified Strategies 1.5 Blackstone Alternative Multi-Strategy Fund, Class Y 1.5 18.9% Equity FIXED INCOME & CASH 33.7 Long/Short Fixed Income 32.5 Core 28.5 Vanguard Total International Bond ETF 14.7 52.8% JPM Core Bond Fund 6.0 Alternative iShares MBS ETF 2.0 Strategies 28.3% IShares US Treasury Bond ETF 2.0 Diversified iShares 7-10 Year Treasury Bond ETF 1.0 Strategies Vanguard Short-Term Bond ETF 1.0 JPM Core Plus Bond Fund 1.0 Fixed income and cash allocation^ JPM Short Duration Bond Fund 0.8 Investment style Credit 4.0 Lord Abbett Short Duration Income Fund 2.0 3.6% 11.9% JPM High Yield Bond Fund 2.0 Cash Credit Cash 1.2 JPM Prime Money Market Fund 1.2 Total Market Value 100.3 Other Assets (Liabilities) Net -0.3 Total Net Assets 100.0 Manager Allocation JPMorgan Access Balanced Fund is a registered fund advised by J.P.
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