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JPMorgan Global Allocation R5 Overview

JPMorgan Global Allocation R5 (GAORX) is an actively managed Allocation Global Moderate Allocation fund. JPMorgan launched the fund in 2018.

The investment seeks to maximize long-term total return. The fund has significant flexibility to invest in a broad range of equity, fixed income and alternative asset classes in the U.S. and other markets throughout the world, both developed and emerging. The adviser uses a flexible asset allocation approach in constructing the fund's portfolio. Under normal circumstances, it will invest at least 40% of its total assets in countries other than the United States (Non-U.S. Countries) unless the adviser determines, in its sole discretion, that conditions are not favorable.

About JPMorgan Global Allocation R5 (GAORX)

There are 3 members of the management team with an average tenure of 4.50 years: Grace Koo (2014), Gerhardt (Gary) Herbert (2026), Daniel Bloomgarden (2025). Management tenure is more important for actively managed funds than passive index funds.

The fund has 3 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100%, Bloomberg Gbl Agg ex china TR USD index with a weighting of 40% and MSCI ACWI NR USD index with a weighting of 60%. JPMorgan Global Allocation R5 has 1661 securities in its portfolio. The top 10 holdings constitute 21.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

JPMorgan Global Allocation R5 is part of the Allocation global asset class and is within the Allocation fund group. JPMorgan Global Allocation R5 has 39.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 26.8%. There is 22.9% allocated to foreign stock, and 0.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 40.1% (23.1% domestic bond, 17.0% foreign bond and 0.1% convertible bond). JPMorgan Global Allocation R5 has 9.2% of the portfolio in cash.

Assets Under Management

The fund has $24 million in total assets, which is below the $947 million average for the Global Moderate Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

GAORX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The JPMorgan Global Allocation R5 expense ratio is above average compared to funds in the Global Moderate Allocation category. JPMorgan Global Allocation R5 has an expense ratio of 0.75%, which is 28% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. JPMorgan Global Allocation R5 has a portfolio turnover rate of 107%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 64% for the Global Moderate Allocation category.

Recently, in the month of July 2026, JPMorgan Global Allocation R5 returned -0.7%, which earned it a grade of D, as the Global Moderate Allocation category had an average return of 0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

JPMorgan Global Allocation R5 has a trailing yield of 2.57%, which is below the 2.61% category average. The fund normally distributes its income quarterly.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

JPMorgan Global Allocation R5 Grades

Year to date, the fund has returned 4.0%, 4.1 percentage points worse than the category, which translates into a grade of F. The fund has returned 10.8% over the past year (grade of F), 10.3% over the past three years (grade of F) and 4.0% per year over the past five years (grade of F) and 6.9% per year over the past 10 years (grade of D).

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