JMHI Fees and Costs — JPMorgan High Yield Municipal ETF
Data updated: 2026-07-28
The net expense ratio is 0.35%: a 0.35% management fee plus 0.16% other expenses, less a 0.17% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $3K in broker commissions, 0.0013% of average net assets, and portfolio turnover was 52%.
JMHI Fees and Expenses
Annual operating expenses and sales charges of JMHI. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | — |
| Other expenses | 0.16% |
| Gross expense ratio | 0.52% |
| Fee waiver | −0.17% |
| Net expense ratio | 0.35% |
| 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 |
JMHI Costs Over Time
On $10,000 invested in JMHI, assuming 5% a year before costs, total costs come to $223 over 5 years, cutting the return by 0.37% 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) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $0 | $6 | $20 |
| Total costs | $37 | $122 | $223 |
| Value after costs | $10,463 | $11,455 | $12,540 |
| Impact on return, per year | 0.37% | 0.37% | 0.37% |
JMHI Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0013%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $237.4M
- Portfolio turnover (prospectus): 52%
- Securities lending: none during the year
JMHI Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $1K | 52.86% |
| BofA Securities, Inc. | $658 | 23.24% |
| Morgan Stanley & Co. LLC | $517 | 18.28% |
| Barclays Capital, Inc. | $159 | 5.61% |
JMHI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $34.0M | 17.21% |
| Wells Fargo Securities, LLC | $32.2M | 16.32% |
| BofA Securities, Inc. | $28.0M | 14.20% |
| Goldman Sachs & Co. LLC | $24.3M | 12.33% |
| Morgan Stanley & Co. LLC | $22.4M | 11.37% |
| B. C. Ziegler and Company | $16.7M | 8.48% |
| Barclays Capital, Inc. | $16.2M | 8.22% |
| RBC Capital Markets, LLC | $10.3M | 5.21% |
| Herbert J. Sims & Co, Inc. | $7.1M | 3.60% |
| Piper Sandler & Co. | $6.0M | 3.05% |
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.