JADBX Fees and Costs — Real Estate Securities Trust, Series I
Data updated: 2026-08-27
The net expense ratio is 0.81%: a 0.70% management fee, a 0.05% 12b-1 fee plus 0.07% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $392K in broker commissions, 0.1365% of average net assets, and portfolio turnover was 108%.
JADBX Fees and Expenses
Annual operating expenses and sales charges of JADBX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.05% |
| Other expenses | 0.07% |
| Gross expense ratio | 0.82% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.81% |
| 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 |
JADBX Costs Over Time
On $10,000 invested in JADBX, assuming 5% a year before costs, total costs come to $593 over 5 years, cutting the return by 0.99% 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 0.81%) | $85 | $266 | $461 |
| Trading costs (broker commissions) | $14 | $45 | $78 |
| Lost growth on money paid in costs | $0 | $15 | $54 |
| Total costs | $99 | $326 | $593 |
| Value after costs | $10,401 | $11,251 | $12,170 |
| Impact on return, per year | 0.99% | 0.99% | 0.99% |
JADBX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1365%
- Total broker commissions: $392K
- Bought from dealers (principal trades, not a cost): $141.3M
- Portfolio turnover (prospectus): 108%
- Securities on loan, average value: $690K
- Net income from securities lending: $693 (0.000% of average net assets)
JADBX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities, LLC | $58K | 20.16% |
| J.P. Morgan Securities LLC | $58K | 20.06% |
| Morgan Stanley & Co. LLC | $31K | 10.88% |
| TD Securities (USA) LLC | $23K | 7.95% |
| Goldman Sachs & Co. LLC | $22K | 7.75% |
| Royal Bank of Canada | $22K | 7.64% |
| Jefferies LLC | $22K | 7.64% |
| Cantor Fitzgerald & Co. | $18K | 6.35% |
| Citigroup Global Markets Holdings Inc. | $17K | 5.80% |
| Raymond James & Associates, Inc. | $17K | 5.78% |
JADBX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets, LLC | $137.3M | 97.12% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $2.1M | 1.50% |
| J.P. Morgan Securities LLC | $1.9M | 1.37% |
Real Estate Securities Trust Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| JAJMX | Class NAV | 0.76% | — |
| JADBX | Series I | 0.81% | — |
| JAJLX | Series II | 1.01% | — |
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.