JVRNX Fees and Costs — Strategic Income Opportunities Trust, Class NAV
Data updated: 2026-08-27
The net expense ratio is 0.74%: a 0.64% management fee plus 0.11% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 73%.
JVRNX Fees and Expenses
Annual operating expenses and sales charges of JVRNX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.64% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.11% |
| Gross expense ratio | 0.75% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.74% |
| 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 |
JVRNX Costs Over Time
On $10,000 invested in JVRNX, assuming 5% a year before costs, total costs come to $465 over 5 years, cutting the return by 0.78% 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 0.74%) | $78 | $243 | $423 |
| Lost growth on money paid in costs | $0 | $12 | $43 |
| Total costs | $78 | $255 | $465 |
| Value after costs | $10,422 | $11,321 | $12,298 |
| Impact on return, per year | 0.78% | 0.78% | 0.78% |
JVRNX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $903.7M
- Portfolio turnover (prospectus): 73%
- Securities on loan, average value: $635K
- Net income from securities lending: $6K (0.002% of average net assets)
JVRNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets, LLC | $303.6M | 45.49% |
| J.P. Morgan Securities LLC | $73.4M | 10.99% |
| Jane Street Execution Services, LLC | $55.0M | 8.24% |
| Citigroup Global Markets Holdings Inc. | $41.4M | 6.21% |
| Morgan Stanley & Co. LLC | $39.3M | 5.89% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $38.8M | 5.82% |
| Barclays Bank PLC | $38.6M | 5.78% |
| Goldman Sachs & Co. LLC | $28.8M | 4.32% |
| BNP Paribas | $24.4M | 3.66% |
| Wells Fargo Securities, LLC | $24.1M | 3.61% |
Strategic Income Opportunities Trust Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| JVRNX | Class NAV | 0.74% | — |
| JESNX | Series I | 0.79% | — |
| JESPX | Series II | 0.99% | — |
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.