URTAX Fees and Costs — JPMorgan Realty Income Fund, Class A
Data updated: 2023-05-12
The net expense ratio is 1.18%: a 0.60% management fee, a 0.25% 12b-1 fee plus 0.44% other expenses, less a 0.11% fee waiver. This share class carries a maximum front-end sales load of 5.25%. In fiscal 2023 the fund paid $280K in broker commissions, 0.0197% of average net assets, and portfolio turnover was 90%.
URTAX Fees and Expenses
Annual operating expenses and sales charges of URTAX. Prospectus, as of June 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.44% |
| Gross expense ratio | 1.29% |
| Fee waiver | −0.11% |
| Net expense ratio | 1.18% |
| Sales charges | |
|---|---|
| Max front load | 5.25% |
| 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 |
URTAX Costs Over Time
On $10,000 invested in URTAX, assuming 5% a year before costs, total costs come to $1,378 over 5 years, cutting the return by 2.37% 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 |
| Sales charges | $525 | $525 | $525 |
| Fund expenses (net expense ratio 1.18%) | $117 | $366 | $633 |
| Trading costs (broker commissions) | $2 | $6 | $11 |
| Lost growth on money paid in costs | $26 | $101 | $210 |
| Total costs | $671 | $998 | $1,378 |
| Value after costs | $9,829 | $10,578 | $11,385 |
| Impact on return, per year | 6.71% | 3.11% | 2.37% |
URTAX 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): 0.0197%
- Total broker commissions: $280K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 90%
- Securities on loan, average value: $5.6M
- Net income from securities lending: $58K (0.004% of average net assets)
URTAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Credit Suisse Securities (USA) LLC | $39K | 18.12% |
| Jefferies LLC | $39K | 17.88% |
| Truist Securities, Inc. | $33K | 14.98% |
| BofA Securities, Inc. | $26K | 11.96% |
| B. Riley FBR, Inc. | $20K | 9.22% |
| Evercore Group L.L.C. | $15K | 6.94% |
| Loop Capital Markets LLC | $14K | 6.55% |
| Citigroup Global Markets Inc. | $11K | 4.93% |
| UBS Securities LLC | $10K | 4.78% |
| RBC Capital Markets, LLC | $10K | 4.64% |
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.