JTISX Fees and Costs — JPMorgan High Yield Municipal Fund, Class I
Data updated: 2023-07-27
The net expense ratio is 0.55%: a 0.35% management fee plus 0.42% other expenses, less a 0.22% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 21%.
JTISX Fees and Expenses
Annual operating expenses and sales charges of JTISX. Prospectus, as of June 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.42% |
| Gross expense ratio | 0.77% |
| Fee waiver | −0.22% |
| Net expense ratio | 0.55% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
JTISX Costs Over Time
On $10,000 invested in JTISX, assuming 5% a year before costs, total costs come to $347 over 5 years, cutting the return by 0.58% 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 0.55%) | $58 | $181 | $315 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $58 | $190 | $347 |
| Value after costs | $10,442 | $11,386 | $12,416 |
| Impact on return, per year | 0.58% | 0.58% | 0.58% |
JTISX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2023.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $266.1M
- Portfolio turnover (prospectus): 21%
- Securities lending: none during the year
JTISX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $35.5M | 18.75% |
| BofA Securities, Inc. | $34.0M | 17.95% |
| RBC Capital Markets, LLC | $22.9M | 12.09% |
| Herbert J. Sims & Co, Inc. | $22.7M | 11.98% |
| Barclays Capital, Inc. | $20.0M | 10.55% |
| Headlands Tech Global Markets, LLC | $13.3M | 7.04% |
| Morgan Stanley & Co. LLC | $12.6M | 6.63% |
| Pershing LLC | $12.5M | 6.59% |
| Goldman Sachs & Co. LLC | $8.3M | 4.40% |
| ROBERT W. BAIRD & CO. INCORPORATED | $7.6M | 4.01% |
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.