JPFAX Fees and Costs — JPMorgan Equity Focus Fund, Class A
Data updated: 2023-09-13
The net expense ratio is 1.10%: a 0.50% management fee, a 0.25% 12b-1 fee plus 0.44% other expenses, less a 0.09% fee waiver. This share class carries a maximum front-end sales load of 5.25%. In fiscal 2023 the fund paid $29K in broker commissions, 0.0138% of average net assets, and portfolio turnover was 29%.
JPFAX Fees and Expenses
Annual operating expenses and sales charges of JPFAX. Prospectus, as of October 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.44% |
| Gross expense ratio | 1.19% |
| Fee waiver | −0.09% |
| Net expense ratio | 1.10% |
| Sales charges | |
|---|---|
| Max front load | 5.25% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
JPFAX Costs Over Time
On $10,000 invested in JPFAX, assuming 5% a year before costs, total costs come to $1,329 over 5 years, cutting the return by 2.28% 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 |
| Sales charges | $525 | $525 | $525 |
| Fund expenses (net expense ratio 1.10%) | $109 | $341 | $591 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $26 | $100 | $206 |
| Total costs | $662 | $970 | $1,329 |
| Value after costs | $9,838 | $10,606 | $11,434 |
| Impact on return, per year | 6.62% | 3.02% | 2.28% |
JPFAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0138%
- Total broker commissions: $29K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 29%
- Securities lending: none during the year
JPFAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets, LLC | $4K | 16.93% |
| BofA Securities, Inc. | $3K | 14.14% |
| Morgan Stanley & Co. LLC | $3K | 13.24% |
| Virtu Americas LLC | $3K | 12.39% |
| UBS Securities LLC | $3K | 10.73% |
| Goldman Sachs & Co. LLC | $2K | 8.54% |
| Jefferies LLC | $2K | 6.92% |
| Credit Suisse Securities (USA) LLC | $2K | 6.67% |
| Instinet, LLC | $1K | 5.48% |
| BMO Capital Markets Corp. | $1K | 4.97% |
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.