JMSI Fees and Costs — JPMorgan Sustainable Municipal Income ETF
Data updated: 2026-07-28
The net expense ratio is 0.18% (0.46% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $2K in broker commissions, 0.0005% of average net assets, and portfolio turnover was 54%.
JMSI Fees and Expenses
Annual operating expenses and sales charges of JMSI. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | — |
| Other expenses | 0.14% |
| Gross expense ratio | 0.46% |
| Fee waiver | −0.28% |
| Net expense ratio | 0.18% |
| 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 |
JMSI Costs Over Time
On $10,000 invested in JMSI, assuming 5% a year before costs, total costs come to $115 over 5 years, cutting the return by 0.19% 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 0.18%) | $19 | $59 | $104 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $3 | $10 |
| Total costs | $19 | $63 | $115 |
| Value after costs | $10,481 | $11,514 | $12,648 |
| Impact on return, per year | 0.19% | 0.19% | 0.19% |
JMSI 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): 0.0005%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $375.3M
- Portfolio turnover (prospectus): 54%
- Securities lending: none during the year
JMSI Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $1K | 60.41% |
| BofA Securities, Inc. | $440 | 26.11% |
| Deutsche Bank Securities Inc. | $139 | 8.23% |
| Morgan Stanley & Co. LLC | $89 | 5.25% |
JMSI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities, LLC | $54.3M | 20.81% |
| BofA Securities, Inc. | $54.0M | 20.71% |
| Jefferies LLC | $33.1M | 12.70% |
| Morgan Stanley & Co. LLC | $31.1M | 11.91% |
| Goldman Sachs & Co. LLC | $18.3M | 7.01% |
| RBC Capital Markets, LLC | $18.0M | 6.89% |
| Raymond James & Associates, Inc. | $17.4M | 6.69% |
| Stifel, Nicolaus & Company, Incorporated | $12.3M | 4.71% |
| Samuel A. Ramirez & Company, Inc. | $11.6M | 4.43% |
| Barclays Capital, Inc. | $10.8M | 4.14% |
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.