JRWOX Fees and Costs — Multi-Index 2020 Preservation Portfolio, Class 1
Data updated: 2020-11-12
The net expense ratio is 0.38% (0.69% before fee waivers). There are no sales loads or redemption fees. In fiscal 2020 the fund paid $124K in broker commissions, 0.0219% of average net assets, and portfolio turnover was 12%.
JRWOX Fees and Expenses
Annual operating expenses and sales charges of JRWOX. Prospectus, as of December 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.05% |
| Other expenses | 0.05% |
| Gross expense ratio | 0.69% |
| Fee waiver | −0.31% |
| 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 |
JRWOX Costs Over Time
On $10,000 invested in JRWOX, assuming 5% a year before costs, total costs come to $254 over 5 years, cutting the return by 0.42% 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) | $2 | $7 | $13 |
| Lost growth on money paid in costs | $0 | $7 | $23 |
| Total costs | $42 | $139 | $254 |
| Value after costs | $10,458 | $11,437 | $12,508 |
| Impact on return, per year | 0.42% | 0.42% | 0.42% |
JRWOX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0219%
- Total broker commissions: $124K
- Bought from dealers (principal trades, not a cost): $381.6M
- Portfolio turnover (prospectus): 12%
- Securities on loan, average value: $24.2M
- Net income from securities lending: $348K (0.061% of average net assets)
JRWOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Virtu Americas LLC | $57K | 46.38% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $46K | 37.11% |
| Pershing LLC | $16K | 13.30% |
| Credit Suisse AG | $3K | 2.70% |
| Royal Bank of Canada | $631 | 0.51% |
JRWOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets, LLC | $251.6M | 65.93% |
| Wells Fargo Securities, LLC | $52.0M | 13.63% |
| UBS AG | $36.4M | 9.53% |
| J.P. Morgan Securities LLC | $12.0M | 3.16% |
| Nomura Holdings, Inc. | $7.9M | 2.06% |
| Royal Bank of Canada | $7.9M | 2.06% |
| Goldman Sachs & Co. LLC | $6.2M | 1.63% |
| Barclays Bank PLC | $4.7M | 1.23% |
| Deutsche Bank AG | $2.9M | 0.77% |
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.