GAOSX Fees and Costs — JPMorgan Global Allocation Fund, Class I
Data updated: 2026-09-28
The net expense ratio is 0.78% (0.95% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $951K in broker commissions, 0.0336% of average net assets, and portfolio turnover was 107%.
GAOSX Fees and Expenses
Annual operating expenses and sales charges of GAOSX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.37% |
| Gross expense ratio | 0.95% |
| Fee waiver | −0.17% |
| Net expense ratio | 0.78% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
GAOSX Costs Over Time
On $10,000 invested in GAOSX, assuming 5% a year before costs, total costs come to $511 over 5 years, cutting the return by 0.85% 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 0.78%) | $82 | $256 | $445 |
| Trading costs (broker commissions) | $4 | $11 | $19 |
| Lost growth on money paid in costs | $0 | $13 | $47 |
| Total costs | $85 | $280 | $511 |
| Value after costs | $10,415 | $11,296 | $12,252 |
| Impact on return, per year | 0.85% | 0.85% | 0.85% |
GAOSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0336%
- Total broker commissions: $951K
- Bought from dealers (principal trades, not a cost): $2.5B
- Portfolio turnover (prospectus): 107%
- Securities on loan, average value: $21.4M
- Net income from securities lending: $333K (0.012% of average net assets)
GAOSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $116K | 16.08% |
| Goldman Sachs & Co. LLC | $106K | 14.70% |
| Morgan Stanley & Co. LLC | $96K | 13.36% |
| Citigroup Global Markets Inc. | $91K | 12.57% |
| Jefferies LLC | $85K | 11.80% |
| UBS Securities LLC | $62K | 8.55% |
| BofA Securities, Inc. | $52K | 7.27% |
| Barclays Capital, Inc. | $45K | 6.20% |
| Jane Street Capital, LLC | $37K | 5.08% |
| BNP Paribas Securities Corp. | $32K | 4.39% |
GAOSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $465.5M | 25.78% |
| Morgan Stanley & Co. LLC | $271.3M | 15.03% |
| Jefferies LLC | $228.0M | 12.63% |
| Barclays Capital, Inc. | $142.6M | 7.90% |
| BNP Paribas Securities Corp. | $127.3M | 7.05% |
| BofA Securities, Inc. | $125.1M | 6.93% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $123.1M | 6.82% |
| Wells Fargo Securities, LLC | $111.6M | 6.18% |
| Deutsche Bank Securities Inc. | $106.6M | 5.91% |
| Citigroup Global Markets Inc. | $104.6M | 5.79% |
JPMorgan Global Allocation Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| GAOZX | Class R6 | 0.65% | — |
| GAORX | Class R5 | 0.75% | — |
| GAOSX | Class I | 0.78% | none |
| GAOFX | Class R4 | 0.90% | — |
| GAOAX | Class A | 1.03% | 4.50% |
| GAOTX | Class R3 | 1.15% | — |
| GAONX | Class R2 | 1.40% | — |
| GAOCX | Class C | 1.53% | none |
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.