JPSE Fees and Costs — JPMorgan Diversified Return U.S. Small Cap Equity ETF
Data updated: 2026-09-28
The net expense ratio is 0.29%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $54K in broker commissions, 0.0109% of average net assets, and portfolio turnover was 27%.
JPSE Fees and Expenses
Annual operating expenses and sales charges of JPSE. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.29% |
| 12b-1 fee | — |
| Other expenses | — |
| Gross expense ratio | 0.29% |
| Fee waiver | — |
| Net expense ratio | 0.29% |
| 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 |
JPSE Costs Over Time
On $10,000 invested in JPSE, assuming 5% a year before costs, total costs come to $191 over 5 years, cutting the return by 0.32% 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 0.29%) | $30 | $96 | $167 |
| Trading costs (broker commissions) | $1 | $4 | $6 |
| Lost growth on money paid in costs | $0 | $5 | $17 |
| Total costs | $32 | $104 | $191 |
| Value after costs | $10,468 | $11,472 | $12,572 |
| Impact on return, per year | 0.32% | 0.32% | 0.32% |
JPSE Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0109%
- Total broker commissions: $54K
- Bought from dealers (principal trades, not a cost): $60.1M
- Portfolio turnover (prospectus): 27%
- Securities on loan, average value: $11.1M
- Net income from securities lending: $172K (0.035% of average net assets)
JPSE Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $19K | 36.13% |
| Citigroup Global Markets Inc. | $15K | 27.92% |
| Morgan Stanley & Co. LLC | $8K | 15.21% |
| Virtu Americas LLC | $4K | 7.17% |
| BNP Paribas Securities Corp. | $2K | 4.20% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $2K | 3.35% |
| RBC Capital Markets, LLC | $2K | 3.07% |
| Jefferies LLC | $682 | 1.30% |
| UBS Securities LLC | $455 | 0.87% |
| Barclays Capital, Inc. | $408 | 0.78% |
JPSE Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $59.4M | 98.85% |
| UBS Securities LLC | $674K | 1.12% |
| Citigroup Global Markets Inc. | $19K | 0.03% |
| Goldman Sachs & Co. LLC | $517 | 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.