JMBAX Fees and Costs — Short Duration Credit Opportunities Fund, Class A
Data updated: 2021-12-29
The net expense ratio is 1.28%: a 0.72% management fee, a 0.30% 12b-1 fee plus 0.26% other expenses, less a 0.01% fee waiver. This share class carries a deferred sales charge of up to 0.50%. In fiscal 2021 the fund paid $218 in broker commissions, and portfolio turnover was 71%.
JMBAX Fees and Expenses
Annual operating expenses and sales charges of JMBAX. Prospectus, as of November 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.72% |
| 12b-1 fee | 0.30% |
| Other expenses | 0.26% |
| Gross expense ratio | 1.29% |
| Fee waiver | −0.01% |
| Net expense ratio | 1.28% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | 0.50% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
JMBAX Costs Over Time
On $10,000 invested in JMBAX, assuming 5% a year before costs, total costs come to $796 over 5 years, cutting the return by 1.34% 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 | $52 | $0 | $0 |
| Fund expenses (net expense ratio 1.28%) | $134 | $418 | $723 |
| Lost growth on money paid in costs | $0 | $21 | $73 |
| Total costs | $186 | $439 | $796 |
| Value after costs | $10,314 | $11,137 | $11,967 |
| Impact on return, per year | 1.86% | 1.34% | 1.34% |
JMBAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: $218
- Bought from dealers (principal trades, not a cost): $3.7B
- Portfolio turnover (prospectus): 71%
- Securities on loan, average value: $537K
- Net income from securities lending: $6K (0.001% of average net assets)
JMBAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Robert W. Baird & Co. Incorporated | $138 | 63.31% |
| Stifel, Nicolaus & Company, Incorporated | $80 | 36.69% |
JMBAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Holdings Inc. | $1.6B | 45.28% |
| State Street Global Markets, LLC | $1.1B | 30.98% |
| J.P. Morgan Securities LLC | $259.8M | 7.57% |
| Goldman Sachs & Co. LLC | $161.4M | 4.70% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $133.7M | 3.89% |
| Barclays Bank PLC | $68.9M | 2.01% |
| Credit Suisse AG | $54.1M | 1.58% |
| Morgan Stanley & Co. LLC | $48.0M | 1.40% |
| Wells Fargo Securities, LLC | $45.2M | 1.32% |
| Pershing LLC | $44.1M | 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.