JUESX Fees and Costs — JPMorgan U.S. Equity Fund, Class I
Data updated: 2026-09-11
The net expense ratio is 0.69%: a 0.40% management fee plus 0.31% other expenses, less a 0.02% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $3.8M in broker commissions, 0.0110% of average net assets, and portfolio turnover was 39%.
JUESX Fees and Expenses
Annual operating expenses and sales charges of JUESX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.31% |
| Gross expense ratio | 0.71% |
| Fee waiver | −0.02% |
| Net expense ratio | 0.69% |
| 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 |
JUESX Costs Over Time
On $10,000 invested in JUESX, assuming 5% a year before costs, total costs come to $441 over 5 years, cutting the return by 0.74% 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 0.69%) | $72 | $227 | $394 |
| Trading costs (broker commissions) | $1 | $4 | $6 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $74 | $242 | $441 |
| Value after costs | $10,426 | $11,335 | $12,322 |
| Impact on return, per year | 0.74% | 0.74% | 0.74% |
JUESX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0110%
- Total broker commissions: $3.8M
- Bought from dealers (principal trades, not a cost): $270.9M
- Portfolio turnover (prospectus): 39%
- Securities on loan, average value: $7.7M
- Net income from securities lending: $17K (0.000% of average net assets)
JUESX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $823K | 25.75% |
| Barclays Capital, Inc. | $740K | 23.17% |
| Citigroup Global Markets Inc. | $384K | 12.04% |
| Morgan Stanley & Co. LLC | $253K | 7.91% |
| BNP Paribas Securities Corp. | $191K | 5.98% |
| Jefferies LLC | $190K | 5.96% |
| Virtu Americas LLC | $164K | 5.13% |
| UBS Securities LLC | $158K | 4.94% |
| RBC Capital Markets, LLC | $157K | 4.92% |
| Liquidnet, Inc. | $135K | 4.22% |
JUESX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $270.9M | 100.00% |
JPMorgan U.S. Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| JUEMX | Class R6 | 0.44% | — |
| JUSRX | Class R5 | 0.54% | — |
| JMUEX | Class L | 0.56% | — |
| JUEQX | Class R4 | 0.69% | — |
| JUESX | Class I | 0.69% | none |
| JUEAX | Class A | 0.94% | 5.25% |
| JUEPX | Class R3 | 0.94% | — |
| JUEZX | Class R2 | 1.19% | — |
| JUECX | Class C | 1.44% | none |
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.