JAFVX Fees and Costs — Strategic Equity Allocation Trust, Class NAV
Data updated: 2026-08-27
The net expense ratio is 0.67%: a 0.63% management fee plus 0.05% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $294K in broker commissions, 0.0042% of average net assets, and portfolio turnover was 5%.
JAFVX Fees and Expenses
Annual operating expenses and sales charges of JAFVX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.63% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.05% |
| Gross expense ratio | 0.68% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.67% |
| 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 |
JAFVX Costs Over Time
On $10,000 invested in JAFVX, assuming 5% a year before costs, total costs come to $424 over 5 years, cutting the return by 0.71% 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 0.67%) | $70 | $220 | $383 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $11 | $39 |
| Total costs | $71 | $233 | $424 |
| Value after costs | $10,429 | $11,344 | $12,338 |
| Impact on return, per year | 0.71% | 0.71% | 0.71% |
JAFVX 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): 0.0042%
- Total broker commissions: $294K
- Bought from dealers (principal trades, not a cost): $2.8B
- Portfolio turnover (prospectus): 5%
- Securities on loan, average value: $39.5M
- Net income from securities lending: $562K (0.008% of average net assets)
JAFVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $162K | 55.16% |
| Royal Bank of Canada | $27K | 9.31% |
| Morgan Stanley & Co. LLC | $27K | 9.18% |
| Barclays Bank PLC | $24K | 8.26% |
| Scotia Capital Inc. | $18K | 6.27% |
| Instinet, LLC | $15K | 4.94% |
| Jefferies LLC | $9K | 3.02% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $7K | 2.40% |
| Cantor Fitzgerald & Co. | $4K | 1.47% |
JAFVX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets, LLC | $2.8B | 98.89% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $28.3M | 1.00% |
| Scotia Capital Inc. | $3.2M | 0.11% |
| Barclays Bank PLC | $548 | 0.00% |
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.