JAFNX Fees and Costs — Financial Industries Trust, Class NAV
Data updated: 2026-08-27
The net expense ratio is 0.88%: a 0.79% management fee plus 0.10% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $79K in broker commissions, 0.0579% of average net assets, and portfolio turnover was 75%.
JAFNX Fees and Expenses
Annual operating expenses and sales charges of JAFNX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.79% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.10% |
| Gross expense ratio | 0.89% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.88% |
| 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 |
JAFNX Costs Over Time
On $10,000 invested in JAFNX, assuming 5% a year before costs, total costs come to $587 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 0.88%) | $92 | $288 | $501 |
| Trading costs (broker commissions) | $6 | $19 | $33 |
| Lost growth on money paid in costs | $0 | $15 | $54 |
| Total costs | $98 | $323 | $587 |
| Value after costs | $10,402 | $11,254 | $12,175 |
| Impact on return, per year | 0.98% | 0.98% | 0.98% |
JAFNX 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): 0.0579%
- Total broker commissions: $79K
- Bought from dealers (principal trades, not a cost): $121.6M
- Portfolio turnover (prospectus): 75%
- Securities on loan, average value: $443K
- Net income from securities lending: $2K (0.002% of average net assets)
JAFNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Keefe, Bruyette & Woods, Inc. | $23K | 31.68% |
| Royal Bank of Canada | $23K | 30.63% |
| Piper Sandler & Co. | $11K | 14.60% |
| Raymond James & Associates, Inc. | $4K | 5.77% |
| Stifel, Nicolaus & Company, Incorporated | $4K | 5.59% |
| Goldman Sachs & Co. LLC | $3K | 3.94% |
| BNY Mellon Capital Markets, LLC | $2K | 2.48% |
| Evercore Group L.L.C. | $2K | 2.27% |
| Morgan Stanley & Co. LLC | $1K | 1.71% |
| Jefferies LLC | $964 | 1.31% |
JAFNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets, LLC | $119.1M | 98.01% |
| Keefe, Bruyette & Woods, Inc. | $1.2M | 0.99% |
| Goldman Sachs & Co. LLC | $629K | 0.52% |
| Piper Sandler & Co. | $513K | 0.42% |
| Morgan Stanley & Co. LLC | $75K | 0.06% |
Financial Industries Trust Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| JAFNX | Class NAV | 0.88% | — |
| JEFSX | Series I | 0.93% | — |
| JEFCX | Series II | 1.13% | — |
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.