JMSUX Fees and Costs — Mutual Shares Trust, Series I
Data updated: 2020-11-24
The net expense ratio is 0.95%: a 0.80% 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 2019 the fund paid $23K in broker commissions, 0.0154% of average net assets, and portfolio turnover was 26%.
JMSUX Fees and Expenses
Annual operating expenses and sales charges of JMSUX. Prospectus, as of April 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.05% |
| Other expenses | 0.11% |
| Gross expense ratio | 0.96% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.95% |
| 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 |
JMSUX Costs Over Time
On $10,000 invested in JMSUX, assuming 5% a year before costs, total costs come to $604 over 5 years, cutting the return by 1.01% 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 0.95%) | $100 | $311 | $540 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $0 | $16 | $55 |
| Total costs | $101 | $332 | $604 |
| Value after costs | $10,399 | $11,244 | $12,159 |
| Impact on return, per year | 1.01% | 1.01% | 1.01% |
JMSUX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0154%
- Total broker commissions: $23K
- Bought from dealers (principal trades, not a cost): $2.0B
- Portfolio turnover (prospectus): 26%
- Securities on loan, average value: $2.0M
- Net income from securities lending: $32K (0.021% of average net assets)
JMSUX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Sanford C. Bernstein & Co., LLC | $5K | 26.50% |
| J.P. Morgan Securities LLC | $5K | 25.49% |
| Morgan Stanley & Co. LLC | $2K | 10.86% |
| Credit Suisse AG | $1K | 6.48% |
| Goldman Sachs & Co. LLC | $1K | 6.27% |
| Citigroup Global Markets Holdings Inc. | $1K | 6.05% |
| Bank of Montreal | $938 | 5.11% |
| Deutsche Bank AG | $833 | 4.54% |
| Exane SA | $822 | 4.48% |
| Dowling & Partners Securities LLC | $774 | 4.22% |
JMSUX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $2.0B | 99.55% |
| Pershing LLC | $5.2M | 0.26% |
| J.P. Morgan Securities LLC | $1.5M | 0.07% |
| Citigroup Global Markets Holdings Inc. | $1.1M | 0.05% |
| Morgan Stanley & Co. LLC | $483K | 0.02% |
| Goldman Sachs & Co. LLC | $379K | 0.02% |
| Barclays Bank PLC | $250K | 0.01% |
| BNY Mellon Capital Markets, LLC | $220K | 0.01% |
| Credit Suisse AG | $65K | 0.00% |
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.