JPIE Fees and Costs — JPMorgan Income ETF
Data updated: 2026-07-28
The net expense ratio is 0.39% (0.40% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $265K in broker commissions, 0.0051% of average net assets, and portfolio turnover was 157%.
JPIE Fees and Expenses
Annual operating expenses and sales charges of JPIE. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | — |
| Other expenses | — |
| Gross expense ratio | 0.40% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.39% |
| 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 |
JPIE Costs Over Time
On $10,000 invested in JPIE, assuming 5% a year before costs, total costs come to $250 over 5 years, cutting the return by 0.41% 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 0.39%) | $41 | $129 | $224 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $6 | $23 |
| Total costs | $41 | $137 | $250 |
| Value after costs | $10,459 | $11,440 | $12,513 |
| Impact on return, per year | 0.41% | 0.41% | 0.41% |
JPIE 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): 0.0051%
- Total broker commissions: $265K
- Bought from dealers (principal trades, not a cost): $51.5B
- Portfolio turnover (prospectus): 157%
- Securities lending: none during the year
JPIE Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $146K | 55.07% |
| Barclays Capital, Inc. | $35K | 13.19% |
| Morgan Stanley & Co. LLC | $33K | 12.60% |
| BofA Securities, Inc. | $28K | 10.49% |
| Goldman Sachs & Co. LLC | $11K | 4.22% |
| Deutsche Bank Securities Inc. | $5K | 1.96% |
| Marex Capital Markets, Inc. | $4K | 1.63% |
| UBS Securities LLC | $2K | 0.73% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $307 | 0.12% |
JPIE Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $10.3B | 21.03% |
| Citigroup Global Markets Inc. | $9.1B | 18.58% |
| Barclays Capital, Inc. | $7.8B | 15.94% |
| Wells Fargo Securities, LLC | $6.6B | 13.55% |
| Morgan Stanley & Co. LLC | $6.4B | 13.13% |
| BofA Securities, Inc. | $5.1B | 10.49% |
| BMO Nesbitt Burns Securities Ltd. | $1.4B | 2.85% |
| Mizuho Securities USA LLC | $786.1M | 1.61% |
| SANTANDER INVESTMENT S.A. | $714.5M | 1.46% |
| BMO Capital Markets Corp. | $669.2M | 1.37% |
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.