C000166569 Fees and Costs — JPMorgan Diversified Alternatives ETF
Data updated: 2020-06-29
The net expense ratio is 0.85%. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $325K in broker commissions, 0.2023% of average net assets, and portfolio turnover was 123%.
C000166569 Fees and Expenses
Annual operating expenses and sales charges of C000166569. Prospectus, as of February 29, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.85% |
| Fee waiver | — |
| Net expense ratio | 0.85% |
| 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 |
C000166569 Costs Over Time
On $10,000 invested in C000166569, assuming 5% a year before costs, total costs come to $658 over 5 years, cutting the return by 1.10% 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 0.85%) | $89 | $278 | $482 |
| Trading costs (broker commissions) | $21 | $66 | $115 |
| Lost growth on money paid in costs | $0 | $17 | $60 |
| Total costs | $110 | $362 | $658 |
| Value after costs | $10,390 | $11,215 | $12,105 |
| Impact on return, per year | 1.10% | 1.10% | 1.10% |
C000166569 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.2023%
- Total broker commissions: $325K
- Bought from dealers (principal trades, not a cost): $7.1M
- Portfolio turnover (prospectus): 123%
- Securities lending: none during the year
C000166569 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $167K | 52.95% |
| BofA Securities, Inc. | $68K | 21.59% |
| Goldman Sachs & Co. LLC | $34K | 10.95% |
| Citigroup Global Markets Inc. | $20K | 6.26% |
| RBC Capital Markets, LLC | $10K | 3.21% |
| Morgan Stanley & Co. LLC | $6K | 1.98% |
| HSBC Securities (USA) Inc. | $4K | 1.39% |
| BNP Paribas Securities Corp. | $2K | 0.69% |
| Jefferies LLC | $2K | 0.50% |
| Industrial and Commercial Bank of China Financial Services LLC | $1K | 0.47% |
C000166569 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Cowen and Company | $3.1M | 43.60% |
| Daiwa Capital Markets America Inc. | $2.1M | 29.61% |
| Morgan Stanley & Co. LLC | $973K | 13.63% |
| Goldman Sachs & Co. LLC | $939K | 13.16% |
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.