JADMX Fees and Costs — Small Cap Opportunities Trust, Class NAV
Data updated: 2026-08-27
The net expense ratio is 0.87%: a 0.72% management fee plus 0.16% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $39K in broker commissions, 0.0234% of average net assets, and portfolio turnover was 55%.
JADMX Fees and Expenses
Annual operating expenses and sales charges of JADMX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.72% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.16% |
| Gross expense ratio | 0.88% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.87% |
| 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 |
JADMX Costs Over Time
On $10,000 invested in JADMX, assuming 5% a year before costs, total costs come to $560 over 5 years, cutting the return by 0.94% 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 0.87%) | $91 | $285 | $495 |
| Trading costs (broker commissions) | $2 | $8 | $13 |
| Lost growth on money paid in costs | $0 | $14 | $51 |
| Total costs | $94 | $308 | $560 |
| Value after costs | $10,406 | $11,269 | $12,203 |
| Impact on return, per year | 0.94% | 0.94% | 0.94% |
JADMX 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): 0.0234%
- Total broker commissions: $39K
- Bought from dealers (principal trades, not a cost): $56.0M
- Portfolio turnover (prospectus): 55%
- Securities on loan, average value: $3.0M
- Net income from securities lending: $9K (0.005% of average net assets)
JADMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $19K | 50.97% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $5K | 13.97% |
| Instinet, LLC | $4K | 9.97% |
| Pershing LLC | $3K | 6.90% |
| Goldman Sachs & Co. LLC | $2K | 5.09% |
| Citigroup Global Markets Holdings Inc. | $1K | 3.44% |
| Robert W. Baird & Co. Incorporated | $1K | 3.23% |
| Raymond James & Associates, Inc. | $1K | 2.93% |
| KeyBanc Capital Markets Inc. | $654 | 1.79% |
| TD Securities (USA) LLC | $622 | 1.70% |
JADMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets, LLC | $56.0M | 100.00% |
Small Cap Opportunities Trust Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| JADMX | Class NAV | 0.87% | — |
| JADLX | Series I | 0.92% | — |
| JADPX | Series II | 1.12% | — |
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.