JDAEX Fees and Costs — Easterly Hedged Equity Fund, Class A
Data updated: 2026-07-20
The net expense ratio is 1.65% (1.91% before fee waivers). This share class carries a maximum front-end sales load of 5.75%. In fiscal 2025 the fund paid $173K in broker commissions, 0.0769% of average net assets, and portfolio turnover was 38%.
JDAEX Fees and Expenses
Annual operating expenses and sales charges of JDAEX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.20% |
| 12b-1 fee | 0.25% |
| Other expenses | — |
| Gross expense ratio | 1.91% |
| Fee waiver | −0.26% |
| Net expense ratio | 1.65% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
JDAEX Costs Over Time
On $10,000 invested in JDAEX, assuming 5% a year before costs, total costs come to $1,737 over 5 years, cutting the return by 3.03% 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 |
| Sales charges | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.65%) | $163 | $506 | $870 |
| Trading costs (broker commissions) | $8 | $24 | $41 |
| Lost growth on money paid in costs | $29 | $117 | $252 |
| Total costs | $775 | $1,221 | $1,737 |
| Value after costs | $9,725 | $10,355 | $11,026 |
| Impact on return, per year | 7.75% | 3.83% | 3.03% |
JDAEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0769%
- Total broker commissions: $173K
- Bought from dealers (principal trades, not a cost): $4.7M
- Portfolio turnover (prospectus): 38%
- Securities lending: none during the year
JDAEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PERSHING | $171K | 98.72% |
| DASH FINANCIAL | $2K | 1.28% |
JDAEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| PERSHING | $4.7M | 100.00% |
Easterly Hedged Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| JDSEX | Class R6 | 1.14% | none |
| JDIEX | Class I | 1.40% | none |
| JDAEX | Class A | 1.65% | 5.75% |
| JDCEX | Class C | 2.40% | none |
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.