IUAEX Fees and Costs — JPMorgan International Focus Fund, Class A
Data updated: 2026-09-28
The net expense ratio is 1.00%: a 0.60% management fee, a 0.25% 12b-1 fee plus 0.38% other expenses, less a 0.23% fee waiver. This share class carries a maximum front-end sales load of 5.25%. In fiscal 2025 the fund paid $737K in broker commissions, 0.0479% of average net assets, and portfolio turnover was 55%.
IUAEX Fees and Expenses
Annual operating expenses and sales charges of IUAEX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.38% |
| Gross expense ratio | 1.23% |
| Fee waiver | −0.23% |
| Net expense ratio | 1.00% |
| Sales charges | |
|---|---|
| Max front load | 5.25% |
| 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 |
IUAEX Costs Over Time
On $10,000 invested in IUAEX, assuming 5% a year before costs, total costs come to $1,291 over 5 years, cutting the return by 2.21% 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 |
| Sales charges | $525 | $525 | $525 |
| Fund expenses (net expense ratio 1.00%) | $99 | $310 | $538 |
| Trading costs (broker commissions) | $5 | $15 | $26 |
| Lost growth on money paid in costs | $26 | $99 | $202 |
| Total costs | $656 | $949 | $1,291 |
| Value after costs | $9,844 | $10,627 | $11,472 |
| Impact on return, per year | 6.56% | 2.95% | 2.21% |
IUAEX 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): 0.0479%
- Total broker commissions: $737K
- Bought from dealers (principal trades, not a cost): $406K
- Portfolio turnover (prospectus): 55%
- Securities on loan, average value: $13.2M
- Net income from securities lending: $132K (0.009% of average net assets)
IUAEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $127K | 21.48% |
| Jefferies LLC | $105K | 17.86% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $98K | 16.70% |
| Barclays Capital, Inc. | $60K | 10.26% |
| Morgan Stanley & Co. LLC | $49K | 8.26% |
| UBS Securities LLC | $45K | 7.64% |
| BNP Paribas Securities Corp. | $30K | 5.05% |
| Liquidnet, Inc. | $29K | 4.99% |
| Credit Agricole Securities (USA) Inc. | $25K | 4.30% |
| Citigroup Global Markets Inc. | $20K | 3.46% |
IUAEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Instinet, LLC | $406K | 100.00% |
JPMorgan International Focus Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| IUENX | Class R6 | 0.55% | — |
| IUEFX | Class R5 | 0.65% | — |
| IUESX | Class I | 0.75% | none |
| IUAEX | Class A | 1.00% | 5.25% |
| IUERX | Class R2 | 1.30% | — |
| IUCEX | Class C | 1.50% | 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.