JAASX Fees and Costs — Alternative Asset Allocation Fund, Class R4
Data updated: 2026-07-27
The net expense ratio is 1.51% (1.79% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $45K in broker commissions, 0.0051% of average net assets, and portfolio turnover was 24%.
JAASX Fees and Expenses
Annual operating expenses and sales charges of JAASX. Prospectus, as of December 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.46% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.17% |
| Gross expense ratio | 1.79% |
| Fee waiver | −0.28% |
| Net expense ratio | 1.51% |
| 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 |
JAASX Costs Over Time
On $10,000 invested in JAASX, assuming 5% a year before costs, total costs come to $938 over 5 years, cutting the return by 1.59% 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 1.51%) | $159 | $492 | $849 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $25 | $86 |
| Total costs | $159 | $518 | $938 |
| Value after costs | $10,341 | $11,058 | $11,825 |
| Impact on return, per year | 1.59% | 1.59% | 1.59% |
JAASX 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): 0.0051%
- Total broker commissions: $45K
- Bought from dealers (principal trades, not a cost): $557.1M
- Portfolio turnover (prospectus): 24%
- Securities on loan, average value: $1.0M
- Net income from securities lending: $6K (0.001% of average net assets)
JAASX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Virtu Americas LLC | $24K | 52.86% |
| Jane Street Execution Services, LLC | $13K | 28.84% |
| Piper Sandler & Co. | $8K | 16.82% |
| Goldman Sachs & Co. LLC | $669 | 1.48% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $1 | 0.00% |
| Pershing LLC | $0 | 0.00% |
JAASX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| NatWest Markets PLC | $278.9M | 50.06% |
| State Street Global Markets, LLC | $278.2M | 49.94% |
Alternative Asset 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 |
|---|---|---|---|
| JAARX | Class R6 | 1.26% | none |
| JAAIX | Class I | 1.38% | none |
| JAASX | Class R4 | 1.51% | none |
| JAAAX | Class A | 1.68% | 5.00% |
| JAAPX | Class R2 | 1.76% | none |
| JAACX | Class C | 2.38% | 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.