JACZX Fees and Costs — Multi-Index 2025 Preservation Portfolio, Class I
Data updated: 2023-07-27
The net expense ratio is 0.47% (0.75% before fee waivers). There are no sales loads or redemption fees. In fiscal 2022 the fund paid $87K in broker commissions, 0.0094% of average net assets, and portfolio turnover was 39%.
JACZX Fees and Expenses
Annual operating expenses and sales charges of JACZX. Prospectus, as of December 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.42% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.16% |
| Gross expense ratio | 0.75% |
| Fee waiver | −0.28% |
| Net expense ratio | 0.47% |
| Sales charges | |
|---|---|
| Max front load | — |
| 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 |
JACZX Costs Over Time
On $10,000 invested in JACZX, assuming 5% a year before costs, total costs come to $303 over 5 years, cutting the return by 0.50% 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 0.47%) | $49 | $155 | $270 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $50 | $166 | $303 |
| Value after costs | $10,450 | $11,411 | $12,460 |
| Impact on return, per year | 0.50% | 0.50% | 0.50% |
JACZX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0094%
- Total broker commissions: $87K
- Bought from dealers (principal trades, not a cost): $431.4M
- Portfolio turnover (prospectus): 39%
- Securities on loan, average value: $56.5M
- Net income from securities lending: $652K (0.070% of average net assets)
JACZX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $55K | 62.94% |
| Pershing LLC | $32K | 37.06% |
JACZX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets, LLC | $330.7M | 77.79% |
| Citigroup Global Markets Holdings Inc. | $23.9M | 5.62% |
| Bank of Montreal | $20.8M | 4.88% |
| UBS AG | $18.3M | 4.30% |
| J.P. Morgan Securities LLC | $7.1M | 1.66% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $6.1M | 1.44% |
| Barclays Bank PLC | $5.7M | 1.33% |
| Deutsche Bank AG | $4.8M | 1.14% |
| Morgan Stanley & Co. LLC | $4.1M | 0.97% |
| Wells Fargo Securities, LLC | $3.7M | 0.87% |
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.