JAFMX Fees and Costs — Health Sciences Trust, Class NAV
Data updated: 2026-08-27
The net expense ratio is 0.99%: a 0.86% management fee plus 0.14% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $72K in broker commissions, 0.0319% of average net assets, and portfolio turnover was 68%.
JAFMX Fees and Expenses
Annual operating expenses and sales charges of JAFMX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.86% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.14% |
| Gross expense ratio | 1.00% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.99% |
| 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 |
JAFMX Costs Over Time
On $10,000 invested in JAFMX, assuming 5% a year before costs, total costs come to $639 over 5 years, cutting the return by 1.07% 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 0.99%) | $104 | $324 | $562 |
| Trading costs (broker commissions) | $3 | $10 | $18 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $107 | $351 | $639 |
| Value after costs | $10,393 | $11,225 | $12,124 |
| Impact on return, per year | 1.07% | 1.07% | 1.07% |
JAFMX 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): 0.0319%
- Total broker commissions: $72K
- Bought from dealers (principal trades, not a cost): $149.8M
- Portfolio turnover (prospectus): 68%
- Securities lending: none during the year
JAFMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $8K | 16.39% |
| Morgan Stanley & Co. LLC | $5K | 11.43% |
| Royal Bank of Canada | $5K | 11.09% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $5K | 10.78% |
| UBS AG | $5K | 10.07% |
| BNY Mellon Capital Markets, LLC | $4K | 9.17% |
| Goldman Sachs & Co. LLC | $4K | 8.98% |
| Citigroup Global Markets Holdings Inc. | $4K | 8.07% |
| J.P. Morgan Securities LLC | $3K | 7.53% |
| Bank of Montreal | $3K | 6.49% |
JAFMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| T. Rowe Price Investment Services, Inc. | $104.4M | 69.79% |
| State Street Global Markets, LLC | $39.8M | 26.62% |
| Jefferies LLC | $1.5M | 0.97% |
| Pershing LLC | $960K | 0.64% |
| J.P. Morgan Securities LLC | $851K | 0.57% |
| Goldman Sachs & Co. LLC | $840K | 0.56% |
| Morgan Stanley & Co. LLC | $674K | 0.45% |
| Piper Sandler & Co. | $246K | 0.16% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $210K | 0.14% |
| ABN AMRO Bank N.V. | $137K | 0.09% |
Health Sciences Trust Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| JAFMX | Class NAV | 0.99% | — |
| JEHSX | Series I | 1.04% | — |
| JAFKX | Series II | 1.24% | — |
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.