JCPI Fees and Costs — JPMorgan Inflation Managed Bond ETF
Data updated: 2026-07-28
The net expense ratio is 0.25%: a 0.28% management fee plus 0.11% other expenses, less a 0.14% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $35K in broker commissions, 0.0047% of average net assets, and portfolio turnover was 81%.
JCPI Fees and Expenses
Annual operating expenses and sales charges of JCPI. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.28% |
| 12b-1 fee | — |
| Other expenses | 0.11% |
| Gross expense ratio | 0.39% |
| Fee waiver | −0.14% |
| Net expense ratio | 0.25% |
| 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 |
JCPI Costs Over Time
On $10,000 invested in JCPI, assuming 5% a year before costs, total costs come to $162 over 5 years, cutting the return by 0.27% 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 0.25%) | $26 | $83 | $144 |
| Trading costs (broker commissions) | $0 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $4 | $15 |
| Total costs | $27 | $88 | $162 |
| Value after costs | $10,473 | $11,488 | $12,601 |
| Impact on return, per year | 0.27% | 0.27% | 0.27% |
JCPI Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0047%
- Total broker commissions: $35K
- Bought from dealers (principal trades, not a cost): $1.2B
- Portfolio turnover (prospectus): 81%
- Securities lending: none during the year
JCPI Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $16K | 45.17% |
| Morgan Stanley & Co. LLC | $9K | 25.30% |
| Barclays Capital, Inc. | $6K | 16.34% |
| BofA Securities, Inc. | $4K | 11.38% |
| Goldman Sachs & Co. LLC | $337 | 0.96% |
| Deutsche Bank Securities Inc. | $293 | 0.84% |
JCPI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Nomura Securities International, Inc. | $258.0M | 22.44% |
| BNP Paribas Securities Corp. | $233.8M | 20.34% |
| Barclays Capital, Inc. | $148.0M | 12.87% |
| Wells Fargo Securities, LLC | $133.6M | 11.62% |
| Morgan Stanley & Co. LLC | $112.6M | 9.80% |
| Goldman Sachs & Co. LLC | $81.5M | 7.09% |
| BofA Securities, Inc. | $61.7M | 5.37% |
| Citigroup Global Markets Inc. | $46.6M | 4.05% |
| TD SECURITIES (USA) LLC | $38.1M | 3.32% |
| BMO Nesbitt Burns Securities Ltd. | $35.7M | 3.10% |
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.