JIREX Fees and Costs — Real Estate Securities Fund, Class 1
Data updated: 2026-07-27
The net expense ratio is 0.85%: a 0.70% management fee, a 0.05% 12b-1 fee plus 0.11% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $280K in broker commissions, 0.1176% of average net assets, and portfolio turnover was 72%.
JIREX Fees and Expenses
Annual operating expenses and sales charges of JIREX. Prospectus, as of December 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.05% |
| Other expenses | 0.11% |
| Gross expense ratio | 0.86% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.85% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
JIREX Costs Over Time
On $10,000 invested in JIREX, assuming 5% a year before costs, total costs come to $606 over 5 years, cutting the return by 1.02% 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 0.85%) | $89 | $279 | $483 |
| Trading costs (broker commissions) | $12 | $39 | $67 |
| Lost growth on money paid in costs | $0 | $16 | $56 |
| Total costs | $102 | $333 | $606 |
| Value after costs | $10,398 | $11,243 | $12,157 |
| Impact on return, per year | 1.02% | 1.02% | 1.02% |
JIREX 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): 0.1176%
- Total broker commissions: $280K
- Bought from dealers (principal trades, not a cost): $154.9M
- Portfolio turnover (prospectus): 72%
- Securities on loan, average value: $171K
- Net income from securities lending: $917 (0.000% of average net assets)
JIREX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $56K | 24.14% |
| Wells Fargo Securities, LLC | $49K | 21.13% |
| Morgan Stanley & Co. LLC | $27K | 11.61% |
| Goldman Sachs & Co. LLC | $19K | 8.10% |
| Cowen & Company | $18K | 7.77% |
| Royal Bank of Canada | $16K | 6.85% |
| Jefferies LLC | $16K | 6.72% |
| Citigroup Global Markets Holdings Inc. | $14K | 6.21% |
| Bank of Montreal | $9K | 4.05% |
| KeyBanc Capital Markets Inc. | $8K | 3.41% |
JIREX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets, LLC | $144.3M | 93.19% |
| Goldman Sachs & Co. LLC | $2.9M | 1.90% |
| Citigroup Global Markets Holdings Inc. | $2.2M | 1.42% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $2.2M | 1.39% |
| Wells Fargo Securities, LLC | $1.7M | 1.09% |
| J.P. Morgan Securities LLC | $1.5M | 1.00% |
Real Estate Securities Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| JABIX | Class R6 | 0.80% | none |
| JIREX | Class 1 | 0.85% | — |
| JABGX | Class I | 0.91% | none |
| JYEBX | Class A | 1.16% | 5.00% |
| JABFX | Class C | 1.92% | 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.