C000008921 Fees and Costs — Equity Income Fund, Class NAV
Data updated: 2026-09-24
The net expense ratio is 0.73%: a 0.67% management fee plus 0.07% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $433K in broker commissions, 0.0383% of average net assets, and portfolio turnover was 22%.
C000008921 Fees and Expenses
Annual operating expenses and sales charges of C000008921. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.67% |
| 12b-1 fee | — |
| Other expenses | 0.07% |
| Gross expense ratio | 0.74% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.73% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
C000008921 Costs Over Time
On $10,000 invested in C000008921, assuming 5% a year before costs, total costs come to $483 over 5 years, cutting the return by 0.81% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.73%) | $77 | $240 | $417 |
| Trading costs (broker commissions) | $4 | $13 | $22 |
| Lost growth on money paid in costs | $0 | $12 | $44 |
| Total costs | $81 | $265 | $483 |
| Value after costs | $10,419 | $11,311 | $12,280 |
| Impact on return, per year | 0.81% | 0.81% | 0.81% |
C000008921 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0383%
- Total broker commissions: $433K
- Bought from dealers (principal trades, not a cost): $1.5B
- Portfolio turnover (prospectus): 22%
- Securities on loan, average value: $6.1M
- Net income from securities lending: $34K (0.003% of average net assets)
C000008921 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Barclays Bank PLC | $119K | 31.28% |
| J.P. Morgan Securities LLC | $67K | 17.79% |
| UBS AG | $63K | 16.58% |
| Morgan Stanley & Co. LLC | $45K | 11.98% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $26K | 6.74% |
| Goldman Sachs & Co. LLC | $20K | 5.19% |
| Citigroup Global Markets Holdings Inc. | $12K | 3.25% |
| Stifel, Nicolaus & Company, Incorporated | $12K | 3.15% |
| BNY Mellon Capital Markets, LLC | $8K | 2.02% |
| Virtu Americas LLC | $8K | 2.01% |
C000008921 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| T. Rowe Price Investment Services, Inc. | $1.1B | 75.52% |
| State Street Global Markets, LLC | $309.2M | 20.68% |
| Morgan Stanley & Co. LLC | $18.3M | 1.22% |
| Goldman Sachs & Co. LLC | $11.2M | 0.75% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $9.8M | 0.65% |
| J.P. Morgan Securities LLC | $6.6M | 0.44% |
| Citadel Securities LLC | $5.5M | 0.37% |
| Nomura Holdings, Inc. | $5.5M | 0.37% |
Equity Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000008921 | Class NAV | 0.73% | — |
| JIEMX | Class 1 | 0.78% | — |
| JHEIX | Class A | 1.14% | — |
| JHERX | Class C | 1.84% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.