JAFGX Fees and Costs — U.S. Growth Trust, Class NAV
Data updated: 2026-08-27
The net expense ratio is 0.62%: a 0.54% management fee plus 0.09% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $164K in broker commissions, 0.0235% of average net assets, and portfolio turnover was 127%.
JAFGX Fees and Expenses
Annual operating expenses and sales charges of JAFGX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.54% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.09% |
| Gross expense ratio | 0.63% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.62% |
| 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 |
JAFGX Costs Over Time
On $10,000 invested in JAFGX, assuming 5% a year before costs, total costs come to $405 over 5 years, cutting the return by 0.68% 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 0.62%) | $65 | $204 | $355 |
| Trading costs (broker commissions) | $2 | $8 | $13 |
| Lost growth on money paid in costs | $0 | $10 | $37 |
| Total costs | $68 | $222 | $405 |
| Value after costs | $10,432 | $11,354 | $12,357 |
| Impact on return, per year | 0.68% | 0.68% | 0.68% |
JAFGX 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): 0.0235%
- Total broker commissions: $164K
- Bought from dealers (principal trades, not a cost): $473.8M
- Portfolio turnover (prospectus): 127%
- Securities on loan, average value: $5.6M
- Net income from securities lending: $245 (0.000% of average net assets)
JAFGX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $40K | 33.14% |
| Goldman Sachs & Co. LLC | $13K | 10.49% |
| UBS AG | $13K | 10.43% |
| Capital Institutional Services, Inc. | $12K | 10.01% |
| Morgan Stanley & Co. LLC | $12K | 9.84% |
| Royal Bank of Canada | $9K | 7.11% |
| Citigroup Global Markets Holdings Inc. | $7K | 5.57% |
| J.P. Morgan Securities LLC | $6K | 4.78% |
| TD Securities (USA) LLC | $6K | 4.58% |
| Bernstein Institutional Services LLC | $5K | 4.06% |
JAFGX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets, LLC | $473.8M | 100.00% |
| Liquidnet, Inc. | $663 | 0.00% |
U.S. Growth Trust Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| JAFGX | Class NAV | 0.62% | — |
| JAFHX | Series I | 0.67% | — |
| JAFJX | Series II | 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.