JMUB Fees and Costs — JPMorgan Municipal ETF
Data updated: 2026-07-28
The net expense ratio is 0.18%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $25K in broker commissions, 0.0006% of average net assets, and portfolio turnover was 38%.
JMUB Fees and Expenses
Annual operating expenses and sales charges of JMUB. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.18% |
| 12b-1 fee | — |
| Other expenses | — |
| Gross expense ratio | 0.18% |
| Fee waiver | — |
| 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 |
JMUB Costs Over Time
On $10,000 invested in JMUB, 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% |
JMUB 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): 0.0006%
- Total broker commissions: $25K
- Bought from dealers (principal trades, not a cost): $5.1B
- Portfolio turnover (prospectus): 38%
- Securities lending: none during the year
JMUB Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $16K | 62.33% |
| BofA Securities, Inc. | $7K | 26.83% |
| Morgan Stanley & Co. LLC | $1K | 5.48% |
| Deutsche Bank Securities Inc. | $1K | 5.36% |
JMUB Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $755.4M | 19.61% |
| Wells Fargo Securities, LLC | $487.0M | 12.64% |
| RBC Capital Markets, LLC | $480.3M | 12.47% |
| Morgan Stanley & Co. LLC | $469.7M | 12.19% |
| Jefferies LLC | $401.6M | 10.42% |
| Barclays Capital, Inc. | $367.5M | 9.54% |
| Goldman Sachs & Co. LLC | $331.9M | 8.62% |
| Raymond James & Associates, Inc. | $285.3M | 7.40% |
| Truist Securities, Inc. | $145.3M | 3.77% |
| Piper Sandler & Co. | $128.7M | 3.34% |
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.