HELO Fees and Costs — JPMorgan Hedged Equity Laddered Overlay ETF
Data updated: 2026-09-28
The net expense ratio is 0.50%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.9M in broker commissions, 0.0669% of average net assets, and portfolio turnover was 30%.
HELO Fees and Expenses
Annual operating expenses and sales charges of HELO. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | — |
| Gross expense ratio | 0.50% |
| Fee waiver | — |
| Net expense ratio | 0.50% |
| 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 |
HELO Costs Over Time
On $10,000 invested in HELO, assuming 5% a year before costs, total costs come to $358 over 5 years, cutting the return by 0.60% 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 0.50%) | $52 | $165 | $287 |
| Trading costs (broker commissions) | $7 | $22 | $38 |
| Lost growth on money paid in costs | $0 | $9 | $33 |
| Total costs | $60 | $196 | $358 |
| Value after costs | $10,440 | $11,380 | $12,405 |
| Impact on return, per year | 0.60% | 0.60% | 0.60% |
HELO 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): 0.0669%
- Total broker commissions: $1.9M
- Bought from dealers (principal trades, not a cost): $5.0M
- Portfolio turnover (prospectus): 30%
- Securities lending: none during the year
HELO Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $1.7M | 93.29% |
| UBS Securities LLC | $21K | 1.12% |
| Goldman Sachs & Co. LLC | $19K | 1.04% |
| Barclays Capital, Inc. | $19K | 1.00% |
| Morgan Stanley & Co. LLC | $16K | 0.86% |
| RBC Capital Markets, LLC | $15K | 0.83% |
| Jefferies LLC | $12K | 0.65% |
| Liquidnet, Inc. | $8K | 0.45% |
| Wells Fargo Securities, LLC | $7K | 0.39% |
| TD SECURITIES (USA) LLC | $7K | 0.37% |
HELO Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $2.7M | 53.87% |
| Morgan Stanley & Co. LLC | $2.1M | 42.25% |
| BofA Securities, Inc. | $194K | 3.88% |
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.