JPUS Fees and Costs — JPMorgan Diversified Return U.S. Equity ETF
Data updated: 2026-09-28
The net expense ratio is 0.18%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $12K in broker commissions, 0.0030% of average net assets, and portfolio turnover was 25%.
JPUS Fees and Expenses
Annual operating expenses and sales charges of JPUS. Prospectus, as of October 31, 2025.
| 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 |
JPUS Costs Over Time
On $10,000 invested in JPUS, assuming 5% a year before costs, total costs come to $116 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 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $3 | $11 |
| Total costs | $19 | $63 | $116 |
| Value after costs | $10,481 | $11,513 | $12,646 |
| Impact on return, per year | 0.19% | 0.19% | 0.19% |
JPUS 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): 0.0030%
- Total broker commissions: $12K
- Bought from dealers (principal trades, not a cost): $46.3M
- Portfolio turnover (prospectus): 25%
- Securities on loan, average value: $492K
- Net income from securities lending: $980 (0.000% of average net assets)
JPUS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $4K | 33.04% |
| Morgan Stanley & Co. LLC | $3K | 24.62% |
| BNP Paribas Securities Corp. | $1K | 11.82% |
| Goldman Sachs & Co. LLC | $1K | 9.82% |
| Jefferies LLC | $608 | 5.67% |
| Virtu Americas LLC | $418 | 3.90% |
| BMO Capital Markets Corp. | $364 | 3.39% |
| UBS Securities LLC | $289 | 2.69% |
| RBC Capital Markets, LLC | $283 | 2.63% |
| Loop Capital Markets LLC | $258 | 2.40% |
JPUS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital, Inc. | $45.4M | 97.97% |
| BNP Paribas Securities Corp. | $668K | 1.44% |
| UBS Securities LLC | $270K | 0.58% |
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.