JRFOX Fees and Costs — Multi-Index Income Preservation Portfolio, Class 1
Data updated: 2023-07-27
The net expense ratio is 0.38% (0.68% before fee waivers). There are no sales loads or redemption fees. In fiscal 2022 the fund paid $60K in broker commissions, 0.0101% of average net assets, and portfolio turnover was 19%.
JRFOX Fees and Expenses
Annual operating expenses and sales charges of JRFOX. Prospectus, as of December 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.48% |
| 12b-1 fee | 0.05% |
| Other expenses | 0.04% |
| Gross expense ratio | 0.68% |
| Fee waiver | −0.30% |
| Net expense ratio | 0.38% |
| 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 |
JRFOX Costs Over Time
On $10,000 invested in JRFOX, assuming 5% a year before costs, total costs come to $247 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 0.38%) | $40 | $125 | $219 |
| Trading costs (broker commissions) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $0 | $6 | $23 |
| Total costs | $41 | $135 | $247 |
| Value after costs | $10,459 | $11,441 | $12,516 |
| Impact on return, per year | 0.41% | 0.41% | 0.41% |
JRFOX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0101%
- Total broker commissions: $60K
- Bought from dealers (principal trades, not a cost): $264.3M
- Portfolio turnover (prospectus): 19%
- Securities on loan, average value: $62.3M
- Net income from securities lending: $691K (0.117% of average net assets)
JRFOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $38K | 64.15% |
| Pershing LLC | $21K | 35.85% |
JRFOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets, LLC | $200.2M | 76.10% |
| Bank of Montreal | $18.0M | 6.84% |
| UBS AG | $17.2M | 6.53% |
| Citigroup Global Markets Holdings Inc. | $14.5M | 5.53% |
| J.P. Morgan Securities LLC | $5.5M | 2.10% |
| Wells Fargo Securities, LLC | $2.4M | 0.92% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $2.2M | 0.83% |
| Credit Agricole SA | $1.2M | 0.46% |
| Citadel Securities LLC | $1.1M | 0.42% |
| Nomura Holdings, Inc. | $703K | 0.27% |
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.