JMVNX Fees and Costs — Mid Value Fund, Class NAV
Data updated: 2026-07-27
The net expense ratio is 0.95% (0.96% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $660K in broker commissions, 0.0481% of average net assets, and portfolio turnover was 46%.
JMVNX Fees and Expenses
Annual operating expenses and sales charges of JMVNX. Prospectus, as of March 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.86% |
| 12b-1 fee | — |
| Other expenses | 0.05% |
| 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 |
JMVNX Costs Over Time
On $10,000 invested in JMVNX, assuming 5% a year before costs, total costs come to $624 over 5 years, cutting the return by 1.05% 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) | $5 | $16 | $27 |
| Lost growth on money paid in costs | $0 | $16 | $57 |
| Total costs | $105 | $343 | $624 |
| Value after costs | $10,395 | $11,233 | $12,138 |
| Impact on return, per year | 1.05% | 1.05% | 1.05% |
JMVNX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0481%
- Total broker commissions: $660K
- Bought from dealers (principal trades, not a cost): $1.9B
- Portfolio turnover (prospectus): 46%
- Securities on loan, average value: $18.7M
- Net income from securities lending: $419K (0.031% of average net assets)
JMVNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $75K | 16.67% |
| Jefferies LLC | $57K | 12.70% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $51K | 11.39% |
| J.P. Morgan Securities LLC | $50K | 10.98% |
| Royal Bank of Canada | $47K | 10.49% |
| Goldman Sachs & Co. LLC | $45K | 10.00% |
| Citigroup Global Markets Holdings Inc. | $39K | 8.70% |
| Virtu Americas LLC | $32K | 7.14% |
| Wells Fargo Securities, LLC | $29K | 6.33% |
| Barclays Bank PLC | $25K | 5.61% |
JMVNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| T. Rowe Price Investment Services, Inc. | $1.2B | 67.11% |
| State Street Global Markets, LLC | $599.7M | 32.26% |
| J.P. Morgan Securities LLC | $7.5M | 0.40% |
| Barclays Bank PLC | $2.1M | 0.11% |
| Goldman Sachs & Co. LLC | $1.9M | 0.10% |
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.