supplemental data sheet - smid cap equity fundcharacteristics data as of december 31, 2020 fund...

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

JPMorgan Funds statistics report:SMID Cap Equity Fund

Data as of June 30, 2021

Formerly JPMorgan Intrepid Mid Cap Fund

jpmorganfunds.com

Table of contents

PERFORMANCE

3Performance at NAV

3Calendar year returns

EXPENSES

4Annual expenses

CHARACTERISTICS

5Fund statistics

5Percentage of portfolio

5Barra factors

RISK

6Risk measures

RATINGS AND RANKINGS

7Lipper rankings

7Morningstar ratings

HOLDINGS

8Top ten holdings (%)

9Ten largest overweights

9Ten largest underweights

10Top buys and sells

SECTORS

11Sector exposure (excluding cash)

ATTRIBUTION

12Performance attribution - One month

13Performance attribution - Quarter

14Performance attribution - YTD

15Performance attribution - One year

16Performance attribution - Three year

17Stock attribution - One month

17Stock attribution - Quarter

18Stock attribution - YTD

18Stock attribution - One year

19Stock attribution - Three year

COUNTRY EXPOSURE

20Asset allocation

20Regional allocation

DISCLOSURE

21Disclosures

2 STATISTICS REPORT: SMID CAP EQUITY FUND

PerformanceData as of June 30, 2021

AVERAGE ANNUAL TOTAL RETURNS(as of 6/30/2021)

13.2415.6216.4549.8016.257.501.47Russell Midcap Index

12.8616.3515.2457.7916.975.441.18Russell 2500 Index

11.2612.0611.3742.2912.965.30-0.04R6 Shares - 11/2/2015 | 30271

11.1011.7811.0941.8712.825.24-0.09R4 Shares - 9/9/2016 | 23491

10.8311.5010.8241.5712.675.19-0.05R3 Shares - 9/9/2016 | 23481

11.1111.7911.1041.9512.815.26-0.04I Shares - 6/1/1991 | 3704

10.3010.30

10.9310.93

10.2810.28

40.8739.87

12.4611.46

5.044.04

-0.12-1.12

C Shares - 3/22/1999 | 3703with max 1.00% CDSC

10.8310.24

11.5110.31

10.838.86

41.5934.15

12.706.77

5.18-0.33

-0.05-5.29

A Shares - 5/1/1992 | 3701with max 5.25% sales charge

10 yrs(%)

5 yrs(%)

3 yrs(%)

1 yr(%)

YTD(%)

3 months(%)

1 month(%)

Share class - inception date | share class #

The performance quoted is past performance and is not a guarantee of future results. Mutual funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that aninvestor's shares, when redeemed, may be worth more or less than original cost. Current performance may be higher or lower than the performance data shown. For performance current to the most recent month-end, pleasecall 1-800-480-4111.

17.1030.54-9.0618.5213.80-2.4413.2234.7617.28-1.55Russell Midcap Index

19.9927.77-10.0016.8117.59-2.907.0736.8017.88-2.51Russell 2500 Index

10.4426.46-11.4117.2912.37-5.8615.6240.3416.18-1.57R6 Shares - 11/2/2015 | 3027

10.1326.15-11.6116.9512.07-5.9015.6240.3416.18-1.57R4 Shares - 9/9/2016 | 2349

9.8925.92-11.8816.6911.81-6.1615.3640.0215.83-1.79R3 Shares - 9/9/2016 | 2348

10.2026.12-11.6216.9612.12-5.9015.6240.3416.18-1.57I Shares - 6/1/1991 | 3704

9.3425.18-12.2716.0311.09-6.7014.6039.1715.15-2.46C Shares - 3/22/1999 | 3703

9.9125.86-11.8616.7011.81-6.1615.3640.0215.83-1.79A Shares - 5/1/1992 | 3701

2020201920182017201620152014201320122011Calendar year returns


ExpensesData as of June 30, 2021

0.640.891.140.891.641.14Net expense (%)0.690.961.190.941.711.21Gross expense (%)

R6 SharesR4 SharesR3 SharesI SharesC SharesA SharesAnnual expenses


CharacteristicsData as of June 30, 2021

Fund statistics

4.04 %Turnover - quarter84.96 %Turnover - 5 yr101.06 %Turnover - 3 yr121.39 %Turnover - 1 yr

5.8717.76Return on equity - hist 1 yr1.836.93Return on assets - last 12 months1.742.36Price to sales weighted harmonic average16.1621.98Price to earnings - next 12 months *12.8317.97Price to cash flow - trailing 12 months2.794.48Price to book weighted harmonic average

2,47990Number of holdings$6.22$9.28Market cap weighted median ($ billions)$7.15$10.97Market cap weighted average ($ billions)$1.86$7.84Market cap median ($ billions)10.3313.95Earnings per share growth - 5 yr1.766.68Earnings per share growth - 2 yr

91.48Active share (%)

BenchmarkFund

*J.P. Morgan estimate

Percentage of portfolio**

1.24Cash0.00ETFs0.00Derivatives0.00Intl/ADR (by country)0.02Non US Securities17.67Out of Index98.74US98.76Stocks

Fund

**Cash includes money market securities

Barra factors

0.53-0.390.15Earnings Quality0.13-0.29-0.16Growth

-0.41-0.10-0.50Residual Volatility-0.450.29-0.16Beta-0.110.150.03Leverage-0.340.340.00Value-0.240.13-0.11Liquidity0.07-0.10-0.03Earnings Yield0.15-0.34-0.18Profit0.39-1.83-1.44Size

-0.08-0.15-0.23Dividend Yield-0.290.20-0.09MomentumNetBenchmarkFund


RiskData as of June 30, 2021

Risk measures

4.15Tracking error - Since Inception2.39Tracking error - 7 Yr2.59Tracking error - 5 Yr2.91Tracking error - 3 Yr3.16Tracking error - 1 Yr16.55Standard deviation - Since Inception16.51Standard deviation - 7 Yr17.82Standard deviation - 5 Yr22.37Standard deviation - 3 Yr13.76Standard deviation - 1 Yr0.55Sharpe ratio - Since Inception0.60Sharpe ratio - 7 Yr0.70Sharpe ratio - 5 Yr0.57Sharpe ratio - 3 Yr2.70Sharpe ratio - 1 Yr0.94R2 - Since Inception0.98R2 - 7 Yr0.98R2 - 5 Yr0.98R2 - 3 Yr0.95R2 - 1 Yr-0.07Information ratio - Since Inception-0.88Information ratio - 7 Yr-1.09Information ratio - 5 Yr-1.49Information ratio - 3 Yr-2.08Information ratio - 1 Yr-0.31Alpha - Since Inception-2.11Alpha - 7 Yr-2.82Alpha - 5 Yr-4.35Alpha - 3 Yr-6.58Alpha - 1 Yr

Fund


Ratings and rankingsData as of June 30, 2021

Lipper rankings

Category: Mid-Cap Core Funds

37(58/158)62(97/158)44(69/158)10 Years62(143/232)67(154/232)82(190/232)73(169/232)5 Years68(192/282)72(203/282)75(212/282)72(202/282)80(224/282)75(211/282)3 Years84(258/308)86(263/308)88(269/308)85(261/308)88(271/308)87(267/308)1 Year

R6R4R3ICA

The ranking information is provided by Lipper Analytical Services. Past performance is no guarantee of future results. Rankings are calculated based upon the totalreturns of multiple share classes within their respective Lipper category. Different share classes may have different rankings.

Morningstar ratings

Category: Mid-Cap Blend

Not yet ratedNot yet ratedNot yet rated★★★/202★★/202★★★/20210-Year★★/290Not yet ratedNot yet rated★★/290★★/290★★/2905-Year★★/357★★/357★★/357★★/357★★/357★★/3573-Year★★/357★★/357★★/357★★★/357★★/357★★★/357Overall

R6R4R3ICA

The Overall Morningstar Rating™ for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable)Morningstar Rating metrics. Different share classes may have different ratings.


HoldingsData as of June 30, 2021

Top ten holdings (%)

0.131.351.48WEX0.001.531.53LKQ0.161.371.53LPL Financial0.141.401.53AptarGroup0.111.461.57Lincoln Electric0.001.671.67Generac0.221.541.76Molina Healthcare0.001.781.78Waste Connections0.271.581.84Pool0.181.892.06Toro

Benchmark WeightRelative WeightPortfolio WeightCompany Name



Ten largest overweights

1.40AptarGroup1.42SS&C Technologies1.42West Pharmaceutical Services1.46Lincoln Electric1.53LKQ1.54Molina Healthcare1.58Pool1.67Generac1.78Waste Connections1.89Toro

Relative Weight (%)Company Name

Ten largest underweights

-0.26Jacobs Engineering-0.26PerkinElmer-0.26Avery Dennison-0.26Bio-Techne-0.27Charles River Laboratories-0.28MongoDB-0.29Devon Energy-0.31Avantor-0.34AMC Entertainment-0.36Enphase Energy

Relative Weight (%)Company Name



Top buys and sells

First HorizonSignature BankLazard LtdKinsale CapitalMid-America Apartment CommunitiesLPL FinancialToroWestern Alliance BancorpTransUnionBlack KnightPremierWillscot Mobile MiniPoolTyler TechnologiesSS&C TechnologiesWEXChewyPlanet FitnessCenteneNcinoTen largest sellsTen largest buys


SectorsData as of June 30, 2021

Sector exposure (excluding cash)

100.00100.00Total2.793.78Utilities1.490.00Telecom

13.2511.87Technology8.227.27Real Estate

17.8327.06Industrials15.2911.63Health Care13.6919.68Financials4.600.00Energy3.024.58Consumer Staples

15.8612.97Consumer Discretionary3.971.16Basic Materials

BenchmarkPortfolio


AttributionData as of June 30, 2021

Performance attribution - One month

AttributionVariationIndexFundOne month

-1.20-0.47-0.73-1.200.001.18100.00-0.01100.00Total-0.67-0.55-0.12-5.01-3.656.0115.291.0011.63Health Care-0.340.00-0.34-10.51-4.6010.514.600.000.00Energy-0.23-0.18-0.05-1.59-1.376.7213.255.1311.87Technology-0.21-0.220.01-5.620.991.722.79-3.903.78Utilities-0.16-0.10-0.06-2.101.55-2.043.02-4.144.58Consumer Staples-0.020.00-0.02-2.78-1.492.781.490.000.00Telecom-0.010.17-0.180.659.23-0.9517.83-0.3027.06Industrials0.030.030.000.32-0.951.368.221.687.27Real Estate0.050.30-0.251.525.99-3.5813.69-2.0619.68Financials0.070.010.060.13-2.88-0.3015.86-0.1712.97Consumer Discretionary0.300.080.217.07-2.81-5.213.971.851.16Basic Materials

Total EffectSelection

EffectAllocation

EffectTotal Return

EndingWeight

Total ReturnEndingWeight




Performance attribution - Quarter

AttributionVariationIndexFundQuarter

0.070.77-0.700.070.005.44100.005.51100.00Total-0.75-0.760.01-6.49-1.379.1313.252.6411.87Technology-0.45-0.37-0.08-7.111.551.023.02-6.094.58Consumer Staples-0.350.00-0.35-14.74-4.6014.744.600.000.00Energy-0.08-0.06-0.02-4.56-2.815.913.971.351.16Basic Materials0.000.000.00-5.60-1.495.601.490.000.00Telecom0.160.20-0.044.920.990.712.795.633.78Utilities0.160.140.021.20-2.884.9615.866.1612.97Consumer Discretionary0.270.36-0.091.369.234.3617.835.7127.06Industrials0.290.42-0.132.235.992.7813.695.0119.68Financials0.360.38-0.025.32-0.958.058.2213.377.27Real Estate0.460.47-0.013.39-3.654.7515.298.1411.63Health Care


EffectAllocation

EffectTotal Return

EndingWeight





Performance attribution - YTD

AttributionVariationIndexFundYTD

-3.43-2.97-0.46-3.430.0016.97100.0013.55100.00Total-2.25-2.02-0.22-15.43-3.0927.4016.5811.9713.49Consumer Discretionary-1.18-1.390.21-10.79-1.709.5813.03-1.2211.33Technology-0.750.00-0.75-39.22-3.6339.223.630.000.00Energy-0.50-0.45-0.05-8.841.7613.043.034.214.79Consumer Staples-0.46-0.550.09-2.258.1617.8318.2315.5826.38Industrials-0.39-0.16-0.22-13.56-3.0124.944.1911.381.18Basic Materials0.080.000.08-11.56-1.3211.561.320.000.00Telecom0.090.22-0.136.870.942.462.979.343.91Utilities0.480.49-0.017.00-1.0417.688.1924.697.15Real Estate0.550.270.281.705.0022.4614.1924.1619.19Financials0.900.630.275.37-2.074.4014.659.7712.58Health Care


EffectAllocation

EffectTotal Return

AverageWeight

Total ReturnAverageWeight




Performance attribution - One year

AttributionVariationIndexFund1 Year

-13.92-12.38-1.54-13.920.0058.31100.0044.39100.00Total-5.33-5.13-0.21-38.54-1.6879.6516.1441.1114.46Consumer Discretionary-3.37-3.22-0.15-16.154.0664.3118.0148.1622.07Industrials-2.02-2.150.13-22.340.1154.9214.1532.5714.26Technology-1.86-0.29-1.57-107.20-2.5593.423.29-13.780.74Energy-1.29-1.830.55-11.56-1.5239.8813.9328.3212.41Health Care-1.06-0.87-0.19-14.151.1538.213.7524.064.91Consumer Staples-0.66-0.39-0.27-2.940.4028.594.1125.654.52Utilities-0.31-0.380.07-58.10-1.0049.741.50-8.350.50Telecom0.230.31-0.074.65-0.5146.098.1450.747.63Real Estate0.540.65-0.1113.97-1.1880.443.7894.412.60Basic Materials1.200.910.305.732.7160.3813.2166.1115.92Financials


EffectAllocation

EffectTotal Return

AverageWeight





Performance attribution - Three year

AttributionVariationIndexFund3 year

-25.38-23.75-1.64-25.380.0066.86100.0041.48100.00Total-8.45-7.74-0.72-49.06-0.1266.2415.2817.1915.16Consumer Discretionary-8.26-8.510.25-79.80-0.66131.5714.0651.7713.39Technology-4.58-4.51-0.08-28.011.0686.5817.5358.5818.59Industrials-2.78-2.35-0.43-27.85-0.0338.905.9711.055.93Utilities-2.73-2.25-0.48-43.260.8461.954.6018.695.44Consumer Staples-2.51-3.150.64-27.87-0.0271.5810.7643.7110.74Health Care-1.54-1.52-0.01-93.30-0.4062.802.06-30.491.66Telecom-1.060.21-1.27-41.03-0.96-18.753.70-59.772.74Energy0.200.140.06-8.510.1067.983.7359.473.83Basic Materials2.742.270.4715.63-0.0443.0213.1958.6513.15Financials3.583.66-0.0837.320.2342.799.1480.119.38Real Estate


EffectAllocation

EffectTotal Return

AverageWeight





0.061.361.271.34BJs Wholesale Club0.061.841.581.81Pool0.061.371.191.30Black Knight0.061.030.780.96Monolithic Power Systems0.071.211.131.19Q2

0.081.241.241.19Steris Plc0.091.261.171.13Morningstar0.111.020.880.98Guidewire Software0.121.281.281.20Tyler Technologies0.311.671.671.60Generac

ImpactEnd WeightRelativeWeight

AverageWeight

Contributors - One month

-0.080.620.510.67Alaska Air-0.090.980.890.96Thor Industries-0.090.900.810.93Stericycle-0.090.840.660.84Snap-on-0.111.431.291.44Western Alliance Bancorp-0.120.950.851.00Caseys General Stores-0.131.321.201.38Encompass Health-0.131.381.241.43First Horizon-0.141.531.371.52LPL Financial-0.180.00-0.340.00AMC Entertainment*


AverageWeight

Detractors - One month

*Indicates stock underweight or not held during part or all of the analysis period.

0.110.830.820.75Driven Brands Hldgs Inc0.110.980.951.02Focus Financial Partners0.141.371.231.27Syneos Health0.151.531.531.48LKQ

0.151.221.221.26Mid-America ApartmentCommunities

0.161.130.991.11CubeSmart0.231.341.341.39TransUnion0.271.421.421.34West Pharmaceutical Services0.301.671.671.42Generac0.401.841.581.82Pool


AverageWeight

Contributors - Quarter

-0.130.000.000.00Novocure Ltd*-0.141.151.091.18RLI-0.141.531.371.49LPL Financial-0.150.950.851.05Caseys General Stores-0.171.481.351.44WEX

-0.221.241.111.18Bright Horizons FamilySolutions

-0.230.980.891.07Thor Industries-0.231.040.971.14CMC Materials-0.280.00-0.340.00AMC Entertainment*-0.351.441.351.56Performance Food


AverageWeight

Detractors - Quarter




0.201.130.921.04CubeSmart0.201.411.361.48Brunswick

0.211.221.251.25Mid-America ApartmentCommunities

0.261.381.351.49First Horizon0.281.531.351.35LKQ0.311.171.211.21SVB Financial0.381.431.211.35Western Alliance Bancorp0.461.051.011.05ServisFirst Bancshares0.561.361.021.21Signature Bank0.651.671.061.36Generac


AverageWeight

Contributors - YTD

-0.271.050.921.04Chemed-0.281.481.321.46WEX-0.291.020.840.99Guidewire Software-0.300.00-0.080.00AMC Entertainment*-0.301.321.311.44Encompass Health-0.341.421.741.74SS&C Technologies-0.371.291.051.11Kinsale Capital


-0.401.111.041.17Insurance Auto Auctions-0.471.211.141.23Q2


AverageWeight

Detractors - YTD


0.360.000.440.64PulteGroup0.421.050.620.65ServisFirst Bancshares0.460.000.410.45AES0.500.000.300.42Trane Technologies Plc0.501.170.830.89SVB Financial0.541.670.630.87Generac0.610.000.560.63Timken0.691.430.730.83Western Alliance Bancorp1.061.360.730.86Signature Bank1.400.000.190.19Unity Software


AverageWeight

Contributors - One Year

-0.451.421.141.20SS&C Technologies-0.460.000.220.27Sprouts Farmers Market-0.501.781.181.18Waste Connections-0.501.100.700.75Atmos Energy-0.531.841.101.31Pool-0.561.040.730.78CMC Materials-0.600.000.960.96Centene-0.711.110.670.78Insurance Auto Auctions-0.711.290.710.75Kinsale Capital



AverageWeight

Detractors - One Year



0.601.531.261.36LPL Financial0.680.000.420.58Jacobs Engineering0.680.000.160.18Tribune Co New0.721.430.200.28Western Alliance Bancorp0.900.000.771.05Trane Technologies Plc0.911.360.460.56Signature Bank1.080.000.810.86Timken1.170.001.011.01Equinix1.190.000.680.97Lam Research1.370.000.070.07Unity Software


AverageWeight

Contributors - Three Year


-0.740.001.221.36Vistra-0.750.000.800.87Xerox-0.770.00-0.300.00Advanced Micro Devices*-0.790.000.140.29Devon Energy-0.870.000.600.67Sabre-0.910.000.660.72Travel + Leisure-1.000.000.150.22Foot Locker-1.310.000.370.51Marathon Oil-1.510.000.300.31Sinclair Broadcast


AverageWeight

Detractors - Three Year



Country exposureData as of June 30, 2021

Asset allocation

100.00100.00Total2.940.02International Equity0.001.24Other97.0698.74Domestic Equity

Index (%)Fund (%)

Regional allocation

0.000.00Switzerland0.010.00Bahamas0.010.00Germany0.020.00Luxembourg0.020.00Cayman Islands0.030.00Monaco0.030.00France0.040.00Panama0.040.00Norway0.050.00Thailand0.060.00Singapore0.080.00Israel0.130.00Uruguay0.170.00Netherlands0.190.00Puerto Rico0.560.00Ireland0.590.00United Kingdom0.770.00Bermuda0.140.02Canada

97.0699.98United States

BenchmarkFund


STATISTICS REPORT: SMID CAP EQUITY FUND

RISKS ASSOCIATED WITH INVESTING IN THE FUND:

Investments in mid cap companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investments in larger, more established companies. Share price changes may be moresudden or erratic than the prices of other equity securities, especially over the short term.

RETURNS:1The quoted performance of the Fund includes performance of a predecessor fund/share class prior to the Fund's commencement of operations. Please refer to the current prospectus for further information.

ANNUAL OPERATING EXPENSES:

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 interestexpenses related to short sales, interest, taxes, expenses related to litigation and potential litigation and extraordinary expenses) exceed 1.14% for A Shares, 0.64% for R6 Shares, 1.64% for C Shares, 0.89% for I Shares, 1.14% for R3Shares and 0.89% for R4 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 contractuallyagreed to waive fees and/or reimburse expenses in an amount sufficient to offset the fees and expenses of the affiliated money market funds incurred by the Fund because of the Fund’s investment in such money market funds. Thiswaiver is in effect through 10/31/2022 for A Shares, 10/31/2022 for R6 Shares, 10/31/2022 for C Shares, 10/31/2022 for I Shares, 10/31/2022 for R3 Shares and 10/31/2022 for R4 Shares, at which time the adviser and/or its affiliateswill determine whether to renew or revise it. The difference between net and gross fees includes all applicable fee waivers and expense reimbursements.

PORTFOLIO STATISTICS:

Active Share represents the difference between a fund’s holdings and the benchmark’s holdings. It is calculated by taking the sum of the absolute value of the weighting of the fund’s holdings versus the weighting of the benchmark’sholdings excluding derivatives but including cash and cash equivalents. If a holding of the fund isn’t a holding of the benchmark, the weighting of the benchmark is assumed to be zero. Similarly, if the benchmark includes a holdingthat isn’t a holding of the fund, the weighting of the fund is assumed to be zero.Currency Sensitivity: This risk index measures the sensitivity of a company’s stock return to the return on a basket of foreign currencies.Earnings Variability: This risk index measures the variability in earnings and cash flows using both historical measures and analyst predictions.Growth: This risk index uses historical growth and profitability measures to predict future earnings growth.Leverage: This risk index measures the financial leverage of a company.Momentum: This risk index captures common variation in returns related to recent stock price behaviour. Stocks that had positive excess returns in the recent past are grouped separately from those that displayed negative excessreturns.P/B ratio: the relationship between a stock's price and the book value of that stock.Price to Cash Flow: The ratio of a stock’s price to its cash flow per share. The price-to-cash-flow ratio is an indicator of a stock’s valuation. Although there is no single figure to indicate an optimal price-to-cash-flow ratio, a ratio in thelow single digits may indicate the stock is undervalued, while a higher ratio may suggest potential overvaluation. The ratio takes into consideration a stock’s operating cash flow, which adds non-cash earnings such as depreciation andamortization to net income. It is especially useful for valuing stocks that have positive cash flow but are not profitable because of large non-cash charges.P/E ratio: the number by which earnings per share is multiplied to estimate a stock's value.Price to Sales: A valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the value placed on each dollar of a company’s sales or revenues. It can be calculated either by dividingthe company’s market capitalization by its total sales over a 12-month period, or on a per-share basis by dividing the stock price by sales per share for a 12-month period. Like all ratios, the price-to-sales ratio is most relevant whenused to compare companies in the same sector. A low ratio may indicate possible undervaluation, while a ratio that is significantly above the average may suggest overvaluation. This ratio is also known as a “sales multiple” or“revenue multiple”.Turnover ratio: High portfolio turnover will likely result in additional tax consequences.Return on Assets: An indicator of how profitable a company is relative to its total assets. ROA gives an idea as to how efficient management is at using its assets to generate earnings. Calculated by dividing a company's annualearnings by its total assets, ROA is displayed as a percentage.Return on Equity (ROE): Return on Equity is the amount of net income returned as a percentage of shareholders equity. ROE measures a corporation's profitability by revealing how much profit a company generates with the moneyshareholders have invested.Size: This risk index captures differences in stock returns due to differences in the market capitalization of companies.

HOLDINGS:

The top 10 holdings listed exclude cash and money markets. Holdings are subject to change. The holdings listed should not be considered recommendations to purchase or sell a particular security. Each individual security iscalculated as a percentage of the aggregate market value of the securities held in the Fund and does not include the use of derivative positions, where applicable.

21

STATISTICS REPORT: SMID CAP EQUITY FUND

MORNINGSTAR AND LIPPER:

The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) withat least a three-year history. Exchange traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts forvariation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performancefigures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119months of total returns, and 50% 10- year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period,the most recent three-year period actually has the greatest impact because it is included in all three rating periods.Rankings do not take sales loads into account.The ranking information is provided by Lipper Analytical Services. Past performance is no guarantee of future results. Rankings are calculated based upon the total returns of multiple share classes within their respectiveLipper category. Different share classes may have different rankings.

INDEXES DEFINED:

Mutual funds have fees that reduce their performance: indexes do not. You cannot invest directly in an index.The Russell Midcap Index is an unmanaged index measuring the performance of the 800 smallest companies in the Russell 1000 Index.The Russell 2500 Index measures the performance of the small to mid-cap segment of the U.S. equity universe. It includes approximately 2,500 of the smallest securities based on a combination of their market cap and current indexmembership.

RISK MEASURES:

Alpha: The relationship between the performance of the Fund and its beta over a three-year period of time.Information ratio: A risk-adjusted performance measure defined as excess return divided by tracking error. Information ratio is a special version of the Sharpe Ratio where the benchmark does not have to be the risk-free rate. Sincethis ratio considers the annualized standard deviation of both series (measures of risks inherent in owning either a portfolio or the benchmark),the ratio shows the risk-adjusted excess return of the portfolio over the benchmark.R2: The percentage of a Fund's movements that result from movements in the index ranging from 0 to 100. A Fund with an R2 of 100 means that 100 percent of the Fund's movement can completely be explained by movements inthe Fund's external index benchmark.Sharpe Ratio: Sharpe Ratio measures the fund’s excess return compared to a risk-free investment. The higher the Sharpe Ratio, the better the returns relative to the risk taken.Standard Deviation/Volatility: A statistical measure of the degree to which the Fund’s returns have varied from its historical average. The higher the standard deviation, the wider the range of returns from its average and thegreater the historical volatility. The standard deviation is calculated over a 36-month period based on Fund’s monthly returns. The standard deviation shown is based on the Fund's Class A Shares or the oldest share class, where ClassA Shares are not available.Tracking Error: The active risk of the portfolio, which determines the annualized standard deviation of the excess returns between the portfolio and the benchmark.

ATTRIBUTION:

The attribution summary approximates the gross excess returns of the portfolio and is calculated based on daily holdings which does not represent actual trading, liquidity constraints, fee schedules and transaction costs. It is shownfor illustrative purposes only and is not meant to be representative of actual results.

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NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Contact JPMorgan Distribution Services, Inc. at 1-800-480-4111 for a fund prospectus. You can also visit us at www.jpmorganfunds.com. Investors should carefully consider the investment objectivesand risks as well as charges and expenses of the mutual fund before investing. The prospectus contains this and other information about the mutual fund. Read the prospectus carefully beforeinvesting.Total return figures (for the fund and any index quoted) assume payment of fees and reinvestment of dividends (after the highest applicable foreign withholding tax) and distributions. Without fee waivers, fund returns would havebeen lower. Due to rounding, some values may not total 100%.J.P. Morgan Funds are distributed by JPMorgan Distribution Services, Inc., which is an affiliate of JPMorgan Chase & Co. Affiliates of JPMorgan Chase & Co. receive fees for providing various services to the funds. JPMorganDistribution Services, Inc. is a member of FINRA.J.P. Morgan Asset Management is the brand name for the asset management business of JPMorgan Chase & Co and its affiliates worldwide.If you are a person with a disability and need additional support in viewing the material, please call us at 1-800-343-1113 for assistance.©JPMorgan Chase & Co., July 2021

MFDP-SMIDCE-1-0621

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supplemental data sheet - smid cap equity fundcharacteristics data as of december 31, 2020 fund...

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