# EDGAR Filing Document

**Accession Number:** 0000763852
**File Stem:** 0001193125-26-079453
**Filing Date:** 2026-2
**Character Count:** 25756
**Document Hash:** a4d8e6a8fa6aa3909cedcca28eee8517
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-079453.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001193125-26-079453

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**EFFECTIVENESS DATE**: 20260227

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JPMORGAN TRUST II
- **CENTRAL INDEX KEY:** 0000763852

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 002-95973
- **FILM NUMBER:** 26692922

**BUSINESS ADDRESS:**
- **STREET 1:** 390 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 800-480-4111

**MAIL ADDRESS:**
- **STREET 1:** 390 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ONE GROUP MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 20000721

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ONE GROUP
- **DATE OF NAME CHANGE:** 19931105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HELMSMAN FUND
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### JPMorgan Core Bond Fund (Series ID: S000003477)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | PGBOX         | C000009616 |
| Class C    | OBOCX         | C000009618 |

---

### JPMorgan Core Plus Bond Fund (Series ID: S000003478)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | ONIAX         | C000009621 |
| Class C    | OBDCX         | C000009623 |

---

### JPMorgan Government Bond Fund (Series ID: S000003485)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | OGGAX         | C000009633 |
| Class C    | OGVCX         | C000009635 |

---

### JPMorgan High Yield Fund (Series ID: S000003486)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | OHYAX         | C000009637 |
| Class C    | OGHCX         | C000009639 |

---

### JPMorgan Short Duration Bond Fund (Series ID: S000003490)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | OGLVX         | C000009654 |
| Class C    | OSTCX         | C000009656 |

---

### JPMorgan Short-Intermediate Municipal Bond Fund (Series ID: S000003499)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | OSTAX         | C000009692 |
| Class C    | STMCX         | C000009694 |

---

### JPMorgan Tax Free Bond Fund (Series ID: S000003500)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class C    | JTFCX         | C000009695 |
| Class A    | PMBAX         | C000009697 |

---

### JPMorgan Mid Cap Growth Fund (Series ID: S000003654)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | OSGIX         | C000010158 |
| Class C    | OMGCX         | C000010160 |

---

### JPMorgan Equity Income Fund (Series ID: S000003846)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | OIEIX         | C000010744 |
| Class C    | OINCX         | C000010746 |

---

### JPMorgan Equity Index Fund (Series ID: S000003847)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | OGEAX         | C000010748 |
| Class C    | OEICX         | C000010750 |

---

### JPMorgan SMID Cap Equity Fund (Series ID: S000003855)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | PECAX         | C000010793 |
| Class C    | ODMCX         | C000010795 |

---

### JPMorgan Large Cap Growth Fund (Series ID: S000003856)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | OLGAX         | C000010798 |
| Class C    | OLGCX         | C000010800 |

---

### JPMorgan Large Cap Value Fund (Series ID: S000003857)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | OLVAX         | C000010803 |
| Class C    | OLVCX         | C000010805 |

---

### JPMorgan Small Cap Growth Fund (Series ID: S000003859)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | PGSGX         | C000010813 |
| Class C    | OSGCX         | C000010815 |

---

### JPMorgan Small Cap Value Fund (Series ID: S000003899)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | PSOAX         | C000010894 |
| Class C    | OSVCX         | C000010896 |

---

### JPMorgan Investor Growth Fund (Series ID: S000003901)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | ONGAX         | C000010903 |
| Class C    | OGGCX         | C000010905 |

---

### JPMorgan Investor Growth & Income Fund (Series ID: S000003902)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | ONGIX         | C000010907 |
| Class C    | ONECX         | C000010909 |

---

### JPMorgan Investor Balanced Fund (Series ID: S000003903)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | OGIAX         | C000010911 |
| Class C    | OGBCX         | C000010913 |

---

### JPMorgan Investor Conservative Growth Fund (Series ID: S000003904)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | OICAX         | C000010915 |
| Class C    | OCGCX         | C000010917 |

---

### JPMorgan Liquid Assets Money Market Fund (Series ID: S000003905)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Morgan     | MJLXX         | C000010923 |

---

### JPMorgan Municipal Money Market Fund (Series ID: S000003906)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Morgan     | MJMXX         | C000010929 |

---

### JPMorgan U.S. Government Money Market Fund (Series ID: S000003909)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Morgan     | MJGXX         | C000010942 |

---

### JPMorgan U.S. Treasury Plus Money Market Fund (Series ID: S000003910)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Morgan     | MJTXX         | C000010950 |

---

## Series and Classes Contracts Data

### JPMorgan Core Bond Fund (Series ID: S000003477)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000009616 | Class A      | PGBOX           |
| C000009618 | Class C      | OBOCX           |

### JPMorgan Core Plus Bond Fund (Series ID: S000003478)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000009621 | Class A      | ONIAX           |
| C000009623 | Class C      | OBDCX           |

### JPMorgan Government Bond Fund (Series ID: S000003485)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000009633 | Class A      | OGGAX           |
| C000009635 | Class C      | OGVCX           |

### JPMorgan High Yield Fund (Series ID: S000003486)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000009637 | Class A      | OHYAX           |
| C000009639 | Class C      | OGHCX           |

### JPMorgan Short Duration Bond Fund (Series ID: S000003490)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000009654 | Class A      | OGLVX           |
| C000009656 | Class C      | OSTCX           |

### JPMorgan Short-Intermediate Municipal Bond Fund (Series ID: S000003499)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000009692 | Class A      | OSTAX           |
| C000009694 | Class C      | STMCX           |

### JPMorgan Tax Free Bond Fund (Series ID: S000003500)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000009695 | Class C      | JTFCX           |
| C000009697 | Class A      | PMBAX           |

### JPMorgan Mid Cap Growth Fund (Series ID: S000003654)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010158 | Class A      | OSGIX           |
| C000010160 | Class C      | OMGCX           |

### JPMorgan Equity Income Fund (Series ID: S000003846)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010744 | Class A      | OIEIX           |
| C000010746 | Class C      | OINCX           |

### JPMorgan Equity Index Fund (Series ID: S000003847)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010748 | Class A      | OGEAX           |
| C000010750 | Class C      | OEICX           |

### JPMorgan SMID Cap Equity Fund (Series ID: S000003855)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010793 | Class A      | PECAX           |
| C000010795 | Class C      | ODMCX           |

### JPMorgan Large Cap Growth Fund (Series ID: S000003856)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010798 | Class A      | OLGAX           |
| C000010800 | Class C      | OLGCX           |

### JPMorgan Large Cap Value Fund (Series ID: S000003857)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010803 | Class A      | OLVAX           |
| C000010805 | Class C      | OLVCX           |

### JPMorgan Small Cap Growth Fund (Series ID: S000003859)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010813 | Class A      | PGSGX           |
| C000010815 | Class C      | OSGCX           |

### JPMorgan Small Cap Value Fund (Series ID: S000003899)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010894 | Class A      | PSOAX           |
| C000010896 | Class C      | OSVCX           |

### JPMorgan Investor Growth Fund (Series ID: S000003901)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010903 | Class A      | ONGAX           |
| C000010905 | Class C      | OGGCX           |

### JPMorgan Investor Growth & Income Fund (Series ID: S000003902)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010907 | Class A      | ONGIX           |
| C000010909 | Class C      | ONECX           |

### JPMorgan Investor Balanced Fund (Series ID: S000003903)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010911 | Class A      | OGIAX           |
| C000010913 | Class C      | OGBCX           |

### JPMorgan Investor Conservative Growth Fund (Series ID: S000003904)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010915 | Class A      | OICAX           |
| C000010917 | Class C      | OCGCX           |

### JPMorgan Liquid Assets Money Market Fund (Series ID: S000003905)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010923 | Morgan       | MJLXX           |

### JPMorgan Municipal Money Market Fund (Series ID: S000003906)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010929 | Morgan       | MJMXX           |

### JPMorgan U.S. Government Money Market Fund (Series ID: S000003909)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010942 | Morgan       | MJGXX           |

### JPMorgan U.S. Treasury Plus Money Market Fund (Series ID: S000003910)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010950 | Morgan       | MJTXX           |

**JPMORGAN TRUST I** 

**J.P. Morgan Income Funds** 

JPMorgan Corporate Bond Fund

JPMorgan Emerging Markets Debt Fund

JPMorgan Floating Rate Income Fund

JPMorgan Global Bond Opportunities Fund

JPMorgan Income Fund

JPMorgan Short Duration Core Plus Fund

JPMorgan Strategic Income Opportunities Fund

**J.P. Morgan Money Market Funds** 

JPMorgan 100% U.S. Treasury Securities Money Market Fund

JPMorgan California Municipal Money Market Fund

JPMorgan Federal Money Market Fund

JPMorgan New York Municipal Money Market Fund

JPMorgan Prime Money Market Fund

JPMorgan Tax Free Money Market Fund

**J.P. Morgan Municipal Bond Funds** 

JPMorgan California Tax Free Bond Fund

JPMorgan New York Tax Free Bond Fund

**JPMorgan SmartRetirement Funds** 

JPMorgan SmartRetirement<sup>®</sup> Income Fund

JPMorgan SmartRetirement<sup>®</sup> 2025 Fund

JPMorgan SmartRetirement<sup>®</sup> 2030 Fund

JPMorgan SmartRetirement<sup>®</sup> 2035 Fund

JPMorgan SmartRetirement<sup>®</sup> 2040 Fund

JPMorgan SmartRetirement<sup>®</sup> 2045 Fund

JPMorgan SmartRetirement<sup>®</sup> 2050 Fund

JPMorgan SmartRetirement<sup>®</sup> 2055 Fund

JPMorgan SmartRetirement<sup>®</sup> 2060 Fund

**J.P. Morgan U.S. Equity Funds** 

JPMorgan Diversified Fund

JPMorgan Hedged Equity Fund

JPMorgan Mid Cap Equity Fund

JPMorgan Small Cap Blend Fund

JPMorgan Small Cap Equity Fund

JPMorgan U.S. Equity Fund

JPMorgan U.S. GARP Equity Fund

JPMorgan U.S. Large Cap Core Plus Fund

JPMorgan U.S. Research Enhanced Equity Fund

JPMorgan U.S. Small Company Fund

JPMorgan U.S. Sustainable Leaders Fund

JPMorgan U.S. Value Fund

JPMorgan Value Advantage Fund

**JPMORGAN TRUST II** 

**J.P. Morgan Income Funds** 

JPMorgan Core Bond Fund

JPMorgan Core Plus Bond Fund

JPMorgan Government Bond Fund

JPMorgan High Yield Fund

JPMorgan Short Duration Bond Fund

**J.P. Morgan Investor Funds** 

JPMorgan Investor Balanced Fund

JPMorgan Investor Conservative Growth Fund

JPMorgan Investor Growth Fund

JPMorgan Investor Growth & Income Fund

**<u>J</u>.P. Morgan Money Market Funds** 

JPMorgan Liquid Assets Money Market Fund

JPMorgan Municipal Money Market Fund

JPMorgan U.S. Government Money Market Fund

JPMorgan U.S. Treasury Plus Money Market Fund

**J.P. Morgan Municipal Bond Funds** 

JPMorgan Short-Intermediate Municipal Bond Fund

JPMorgan Tax Free Bond Fund

**J.P. Morgan U.S. Equity Funds** 

JPMorgan Equity Income Fund

JPMorgan Equity Index Fund

JPMorgan Large Cap Growth Fund

JPMorgan Large Cap Value Fund

JPMorgan Mid Cap Growth Fund

JPMorgan Small Cap Growth Fund

JPMorgan Small Cap Value Fund

JPMorgan SMID Cap Equity Fund

**JPMORGAN TRUST IV** 

**J.P. Morgan Income Funds** 

JPMorgan Preferred and Income Securities Fund

**SUP-MF-326** 

------

**J.P. Morgan Municipal Bond Funds** 

JPMorgan Ultra-Short Municipal Fund

**J.P. Morgan SmartRetirement Funds** 

JPMorgan SmartRetirement<sup>®</sup> 2065 Fund

**J.P. Morgan U.S. Equity Funds** 

JPMorgan Equity Premium Income Fund

JPMorgan Hedged Equity 2 Fund

JPMorgan Hedged Equity 3 Fund

**J.P. MORGAN FLEMING MUTUAL FUND GROUP, INC.** 

**J.P. Morgan U.S. Equity Funds** 

JPMorgan Mid Cap Value Fund

**J.P. MORGAN MUTUAL FUND INVESTMENT TRUST** 

**J.P. Morgan U.S. Equity Funds** 

JPMorgan Growth Advantage Fund

**UNDISCOVERED MANAGERS FUNDS** 

Undiscovered Managers Behavioral Value Fund

*(Class A, Class C and Morgan Shares)* 

*(each, a "Fund" and together, the "Funds")* 

**Supplement dated February 27, 2026** 

**to the current Prospectuses, as supplemented** 

Effective May 1, 2026, the "**Appendix A — Financial Intermediary-Specific Sales Charge Waivers — WAIVERS APPLICABLE TO PURCHASES THROUGH MERRILL LYNCH**" section, applicable to Class A and C Shares, which has been provided by Merrill Lynch, will be deleted and replaced with the following:

**<u>WAIVERS APPLICABLE TO PURCHASES THROUGH MERRILL</u>**

Purchases or sales of front-end (for example Class A) or level-load (for example Class C) mutual fund shares through a Merrill platform or account will be eligible only for the following sales load waivers (front-end, contingent deferred, or back-end waivers) and discounts, which differ from those disclosed elsewhere in this Fund's prospectus. Merrill purchasers will have to buy mutual fund shares directly from mutual fund company or through another intermediary to be eligible for waivers or discounts not listed below.

It is the client's responsibility to notify Merrill at the time of purchase or sale of any relationship or other facts that qualify the transaction for a waiver or discount. A Merrill representative may ask for reasonable documentation of such facts and Merrill may condition the granting of a waiver or discount on the timely receipt of such documentation.

Additional information on waivers, discounts, and share class exchanges is available in the Merrill Sales Load Waiver and Discounts Supplement (the "Merrill SLWD Supplement") and in the Mutual Fund Investing at Merrill pamphlet at ml.com/funds. Clients are encouraged to review these documents and speak with their financial advisor to determine whether a transaction is eligible for a waiver or discount.

**Front-end Load Waivers Available at Merrill** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares of mutual funds available for purchase by employer-sponsored retirement, deferred compensation, and employee
benefit plans (including health savings accounts) and trusts used to fund those plans provided the shares are not held in a commission-based brokerage account and shares are held for the benefit of the plan. For purposes of this provision,
employer-sponsored retirement plans do not include SEP IRAs, Simple IRAs, SAR-SEPs or Keogh plans

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares purchased through a Merrill investment advisory program

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Brokerage class shares exchanged from advisory class shares due to the holdings moving from a Merrill investment
advisory program to a Merrill brokerage account

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares purchased through the Merrill Edge Self-Directed platform

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares purchased through the systematic reinvestment of capital gains distributions and dividend reinvestment when
purchasing shares of the same mutual fund in the same account

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares exchanged from level-load shares to front-end load shares of the same
mutual fund in accordance with the description in the Merrill SLWD Supplement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares purchased by eligible employees of Merrill or its affiliates and their family members who purchase shares in
accounts within the employee's Merrill Household (as defined in the Merrill SLWD Supplement)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares purchased by eligible persons associated with the fund as defined in this prospectus (e.g. the fund's
officers or trustees)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares purchased from the proceeds of a mutual fund redemption in front-end load shares provided (1) the repurchase is in a mutual fund within the same fund family; (2) the repurchase occurs within 90 calendar days from the redemption trade date, and (3) the redemption and purchase occur in the same account
(known as Rights of Reinstatement). Automated transactions (i.e. systematic purchases and withdrawals) and purchases made after shares are automatically sold to pay Merrill's account maintenance fees are not eligible for Rights of
Reinstatement

**Contingent Deferred Sales Charge ("CDSC") Waivers on Front-end, Back-end, and Level Load Shares Available at Merrill** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares sold due to the client's death or disability (as defined by Internal Revenue Code
Section 22(e)(3))

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares sold pursuant to a systematic withdrawal program subject to Merrill's maximum systematic withdrawal
limits as described in the Merrill SLWD Supplement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares sold due to return of excess contributions from an IRA account

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the investor reaching
the qualified age based on applicable IRS regulation

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Front-end or level-load shares held in commission-based, non-taxable retirement brokerage accounts (e.g. traditional, Roth, rollover, SEP IRAs, Simple IRAs, SAR-SEPs or Keogh plans) that are transferred to fee-based accounts or platforms and exchanged for a lower cost share class of the same mutual fund

**Front-end Load Discounts Available at Merrill: Breakpoints, Rights of Accumulation & Letters of Intent** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Breakpoint discounts, as described in this prospectus, where the sales load is at or below the maximum sales load
that Merrill permits to be assessed to a front-end load purchase, as described in the Merrill SLWD Supplement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rights of Accumulation (ROA), as described in the Merrill SLWD Supplement, which entitle clients to breakpoint
discounts based on the aggregated holdings of mutual fund family assets held in accounts in their Merrill Household.

On or about May 1, 2026, assets not held at Merrill will no longer be included in the ROA calculation. For more detail on the timing and calculation, please refer to the Merrill SLWD Supplement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Letters of Intent (LOI), which allow for breakpoint discounts on eligible new purchases based on anticipated future
eligible purchases within a fund family at Merrill, in accounts within your Merrill Household, as further described in the Merrill SLWD Supplement.

On or about May 1, 2026, Merrill will no longer accept new LOIs. For more detail on the timing, please refer to the Merrill SLWD Supplement.

On March 1, 2026, the "**Appendix A — Financial Intermediary-Specific Sales Charge Waivers — WAIVERS APPLICABLE TO PURCHASES THROUGH ROBERT W. BAIRD & CO. INC.**" will be deleted and replaced with the following.

------

**<u>WAIVERS APPLICABLE TO PURCHASES THROUGH ROBERT W. BAIRD</u> <u>& CO. INC.</u>** 

Shareholders purchasing fund shares through a Robert W. Baird & Co. Inc. ("Baird") platform or account are only eligible for the following sales charge waivers (front-end sales charge waivers and CDSC waivers) and discounts, which may differ from those disclosed elsewhere in this prospectus or the Statement of Additional Information.

**Front-End Sales Charge Waivers on Class A Shares Available at Baird** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing
shares of the same fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares purchased by employees and registers representatives of Baird or its affiliate and their family members as
designated by Baird.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares purchased within 90 days following a redemption from a J.P. Morgan Fund, provided (1) the redemption and
purchase occur within the purchaser's Baird household, and (2) the redeemed shares were subject to a front-end or deferred sales charge (known as rights of reinstatement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A shareholder in the Fund's C Shares will have their shares exchanged at net asset value to A Shares of the
same Fund if the shares are no longer subject to CDSC and the exchange is in line with the policies and procedures of Baird.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Employer-sponsored retirement plans or charitable accounts in a transactional brokerage account at Baird, including
401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans and defined benefit plans. For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, Simple IRAs or SAR-SEPs.

**CDSC Waivers on Class A and Class C Shares Available at Baird** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares sold due to death or disability of the shareholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares sold as part of a systematic withdrawal plan as described in the Fund's Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares bought due to returns of excess contributions from an IRA Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder
reaching the qualified age based on applicable Internal Revenue Service regulations as described in the Fund's prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares sold to pay Baird fees but only if the transaction is initiated by Baird.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares acquired through a right of reinstatement.

**Front-End Sales Charge Discounts Available at Baird: Breakpoints and/or Rights of Accumulations** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Breakpoints as described in this prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rights of accumulations which entitle shareholders to breakpoint discounts will be automatically calculated based on
the aggregated holding of J.P. Morgan Funds assets held by accounts within the purchaser's household at Baird. Eligible J.P. Morgan Funds assets not held at Baird may be included in the rights of accumulations calculation only if the
shareholder notifies his or her financial advisor about such assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Letters of Intent (LOI) allow for breakpoint discounts based on anticipated purchases within J.P. Morgan Funds,
through Baird, over a 13-month period of time.

**INVESTORS SHOULD RETAIN THIS SUPPLEMENT** 

**WITH THE PROSPECTUSES FOR FUTURE REFERENCE**