JEQAX Fees and Costs — Fundamental All Cap Core Trust, Series I
Data updated: 2026-08-27
The net expense ratio is 0.76%: a 0.67% management fee, a 0.05% 12b-1 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 $691K in broker commissions, 0.0274% of average net assets, and portfolio turnover was 41%.
JEQAX Fees and Expenses
Annual operating expenses and sales charges of JEQAX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.67% |
| 12b-1 fee | 0.05% |
| Other expenses | 0.05% |
| Gross expense ratio | 0.77% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.76% |
| 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 |
JEQAX Costs Over Time
On $10,000 invested in JEQAX, assuming 5% a year before costs, total costs come to $495 over 5 years, cutting the return by 0.83% 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 0.76%) | $80 | $250 | $434 |
| Trading costs (broker commissions) | $3 | $9 | $16 |
| Lost growth on money paid in costs | $0 | $13 | $45 |
| Total costs | $83 | $271 | $495 |
| Value after costs | $10,417 | $11,305 | $12,268 |
| Impact on return, per year | 0.83% | 0.83% | 0.83% |
JEQAX 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): 0.0274%
- Total broker commissions: $691K
- Bought from dealers (principal trades, not a cost): $687.3M
- Portfolio turnover (prospectus): 41%
- Securities lending: none during the year
JEQAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Virtu Americas LLC | $144K | 22.39% |
| J.P. Morgan Securities LLC | $105K | 16.20% |
| Bernstein Institutional Services LLC | $77K | 11.92% |
| Citigroup Global Markets Holdings Inc. | $73K | 11.33% |
| Goldman Sachs & Co. LLC | $63K | 9.82% |
| Piper Sandler & Co. | $57K | 8.87% |
| Morgan Stanley & Co. LLC | $53K | 8.23% |
| Evercore Group L.L.C. | $37K | 5.71% |
| Royal Bank of Canada | $18K | 2.82% |
| Wells Fargo Securities, LLC | $17K | 2.71% |
JEQAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets, LLC | $687.3M | 100.00% |
Fundamental All Cap Core Trust Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| JADDX | Class NAV | 0.71% | — |
| JEQAX | Series I | 0.76% | — |
| JFLGX | Series II | 0.96% | — |
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.