JAEKX Fees and Costs — Opportunistic Fixed Income Trust, Class NAV
Data updated: 2026-08-27
The net expense ratio is 0.92%: a 0.65% management fee plus 0.27% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $14K in broker commissions, 0.0096% of average net assets, and portfolio turnover was 157%.
JAEKX Fees and Expenses
Annual operating expenses and sales charges of JAEKX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.27% |
| Gross expense ratio | 0.93% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.92% |
| 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 |
JAEKX Costs Over Time
On $10,000 invested in JAEKX, assuming 5% a year before costs, total costs come to $582 over 5 years, cutting the return by 0.98% 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 0.92%) | $97 | $302 | $523 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $15 | $53 |
| Total costs | $98 | $320 | $582 |
| Value after costs | $10,402 | $11,256 | $12,181 |
| Impact on return, per year | 0.98% | 0.98% | 0.98% |
JAEKX 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): 0.0096%
- Total broker commissions: $14K
- Bought from dealers (principal trades, not a cost): $4.4B
- Portfolio turnover (prospectus): 157%
- Securities on loan, average value: $4.1M
- Net income from securities lending: $34K (0.024% of average net assets)
JAEKX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $12K | 91.25% |
| Jane Street Execution Services, LLC | $868 | 6.39% |
| Virtu Americas LLC | $189 | 1.39% |
| Morgan Stanley & Co. LLC | $40 | 0.30% |
| Citigroup Global Markets Holdings Inc. | $40 | 0.29% |
| Jefferies LLC | $23 | 0.17% |
| Goldman Sachs & Co. LLC | $11 | 0.08% |
| Royal Bank of Canada | $11 | 0.08% |
| UBS AG | $4 | 0.03% |
| J.P. Morgan Securities LLC | $1 | 0.00% |
JAEKX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $1.8B | 42.12% |
| Morgan Stanley & Co. LLC | $834.4M | 19.77% |
| Goldman Sachs & Co. LLC | $464.5M | 11.00% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $367.3M | 8.70% |
| Barclays Bank PLC | $279.3M | 6.62% |
| State Street Global Markets, LLC | $264.6M | 6.27% |
| Citigroup Global Markets Holdings Inc. | $178.0M | 4.22% |
| Deutsche Bank AG | $28.7M | 0.68% |
| Royal Bank of Canada | $13.9M | 0.33% |
| Mitsubishi UFJ Financial Group, Inc. | $12.6M | 0.30% |
Opportunistic Fixed Income Trust Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| JAEKX | Class NAV | 0.92% | — |
| JAEJX | Series I | 0.97% | — |
| JAEHX | Series II | 1.17% | — |
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.