JEPI Fees and Costs — JPMorgan Equity Premium Income ETF
Data updated: 2026-09-11
The net expense ratio is 0.35%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $4.2M in broker commissions, 0.0098% of average net assets, and portfolio turnover was 172%.
JEPI Fees and Expenses
Annual operating expenses and sales charges of JEPI. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | — |
| Other expenses | — |
| Gross expense ratio | 0.35% |
| Fee waiver | — |
| Net expense ratio | 0.35% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
JEPI Costs Over Time
On $10,000 invested in JEPI, assuming 5% a year before costs, total costs come to $228 over 5 years, cutting the return by 0.38% 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 0.35%) | $37 | $115 | $202 |
| Trading costs (broker commissions) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $0 | $6 | $21 |
| Total costs | $38 | $125 | $228 |
| Value after costs | $10,462 | $11,452 | $12,535 |
| Impact on return, per year | 0.38% | 0.38% | 0.38% |
JEPI Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0098%
- Total broker commissions: $4.2M
- Bought from dealers (principal trades, not a cost): $61.2B
- Portfolio turnover (prospectus): 172%
- Securities on loan, average value: $4.6M
- Net income from securities lending: $10K (0.000% of average net assets)
JEPI Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital, Inc. | $478K | 14.95% |
| UBS Securities LLC | $431K | 13.46% |
| RBC Capital Markets, LLC | $382K | 11.92% |
| BofA Securities, Inc. | $376K | 11.75% |
| Jefferies LLC | $322K | 10.05% |
| Goldman Sachs & Co. LLC | $306K | 9.57% |
| Liquidnet, Inc. | $260K | 8.13% |
| TD SECURITIES (USA) LLC | $243K | 7.60% |
| Wells Fargo Securities, LLC | $209K | 6.54% |
| BNP Paribas Securities Corp. | $193K | 6.04% |
JEPI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNP Paribas Securities Corp. | $14.9B | 24.30% |
| RBC Capital Markets, LLC | $13.3B | 21.76% |
| BofA Securities, Inc. | $6.5B | 10.66% |
| Societe Generale | $6.2B | 10.18% |
| Morgan Stanley & Co. LLC | $5.8B | 9.45% |
| Barclays Capital, Inc. | $5.1B | 8.30% |
| Goldman Sachs & Co. LLC | $4.8B | 7.78% |
| Citigroup Global Markets Inc. | $3.8B | 6.28% |
| UBS Securities LLC | $786.0M | 1.28% |
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.