VSIEX Fees and Costs — JPMorgan International Equity Fund, Class I
Data updated: 2026-09-28
The net expense ratio is 0.70%: a 0.50% management fee plus 0.36% other expenses, less a 0.16% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.8M in broker commissions, 0.0366% of average net assets, and portfolio turnover was 44%.
VSIEX Fees and Expenses
Annual operating expenses and sales charges of VSIEX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.36% |
| Gross expense ratio | 0.86% |
| Fee waiver | −0.16% |
| Net expense ratio | 0.70% |
| 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 |
VSIEX Costs Over Time
On $10,000 invested in VSIEX, assuming 5% a year before costs, total costs come to $463 over 5 years, cutting the return by 0.77% 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 0.70%) | $74 | $230 | $400 |
| Trading costs (broker commissions) | $4 | $12 | $21 |
| Lost growth on money paid in costs | $0 | $12 | $42 |
| Total costs | $77 | $254 | $463 |
| Value after costs | $10,423 | $11,322 | $12,300 |
| Impact on return, per year | 0.77% | 0.77% | 0.77% |
VSIEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0366%
- Total broker commissions: $1.8M
- Bought from dealers (principal trades, not a cost): $1.2M
- Portfolio turnover (prospectus): 44%
- Securities on loan, average value: $18.0M
- Net income from securities lending: $322K (0.007% of average net assets)
VSIEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $348K | 24.20% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $222K | 15.47% |
| UBS Securities LLC | $164K | 11.44% |
| Goldman Sachs & Co. LLC | $161K | 11.23% |
| Barclays Capital, Inc. | $115K | 7.98% |
| BNP Paribas Securities Corp. | $110K | 7.68% |
| Liquidnet, Inc. | $97K | 6.78% |
| Citigroup Global Markets Inc. | $89K | 6.23% |
| Virtu Americas LLC | $68K | 4.76% |
| Morgan Stanley & Co. LLC | $61K | 4.23% |
VSIEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Instinet, LLC | $1.2M | 100.00% |
JPMorgan International 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 |
|---|---|---|---|
| JNEMX | Class R6 | 0.50% | — |
| JIERX | Class R5 | 0.60% | — |
| VSIEX | Class I | 0.70% | none |
| JSEAX | Class A | 0.95% | 5.25% |
| JIEZX | Class R2 | 1.25% | — |
| JIECX | Class C | 1.45% | 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.