JMIN Fees and Costs — JPMorgan U.S. Minimum Volatility ETF
Data updated: 2022-09-29
The net expense ratio is 0.12%. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $717 in broker commissions, 0.0033% of average net assets, and portfolio turnover was 22%.
JMIN Fees and Expenses
Annual operating expenses and sales charges of JMIN. Prospectus, as of February 28, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.12% |
| 12b-1 fee | — |
| Other expenses | — |
| Gross expense ratio | 0.12% |
| Fee waiver | — |
| Net expense ratio | 0.12% |
| 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 |
JMIN Costs Over Time
On $10,000 invested in JMIN, assuming 5% a year before costs, total costs come to $78 over 5 years, cutting the return by 0.13% 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 0.12%) | $13 | $40 | $69 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $2 | $7 |
| Total costs | $13 | $43 | $78 |
| Value after costs | $10,487 | $11,533 | $12,684 |
| Impact on return, per year | 0.13% | 0.13% | 0.13% |
JMIN Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0033%
- Total broker commissions: $717
- Bought from dealers (principal trades, not a cost): $28.3M
- Portfolio turnover (prospectus): 22%
- Securities on loan, average value: $224K
- Net income from securities lending: $973 (0.004% of average net assets)
JMIN Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $344 | 47.96% |
| BofA Securities, Inc. | $134 | 18.71% |
| Jane Street Capital, LLC | $120 | 16.79% |
| Citigroup Global Markets Inc. | $40 | 5.55% |
| RBC Capital Markets, LLC | $21 | 2.95% |
| Virtu Americas LLC | $16 | 2.29% |
| UBS Securities LLC | $15 | 2.14% |
| Morgan Stanley & Co. LLC | $14 | 2.01% |
| Credit Suisse Securities (USA) LLC | $12 | 1.61% |
JMIN Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $23.3M | 82.32% |
| Citadel Securities LLC | $1.8M | 6.48% |
| Goldman Sachs & Co. LLC | $1.8M | 6.27% |
| Morgan Stanley & Co. LLC | $1.4M | 4.93% |
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.