BBALX Fees and Costs — Global Tactical Asset Allocation Fund
Data updated: 2026-08-28
The net expense ratio is 0.49% (0.66% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $5K in broker commissions, 0.0069% of average net assets, and portfolio turnover was 25%.
BBALX Fees and Expenses
Annual operating expenses and sales charges of BBALX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.23% |
| 12b-1 fee | — |
| Other expenses | 0.20% |
| Gross expense ratio | 0.66% |
| Fee waiver | −0.17% |
| Net expense ratio | 0.49% |
| 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 |
BBALX Costs Over Time
On $10,000 invested in BBALX, assuming 5% a year before costs, total costs come to $314 over 5 years, cutting the return by 0.52% 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 0.49%) | $51 | $161 | $281 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $8 | $29 |
| Total costs | $52 | $172 | $314 |
| Value after costs | $10,448 | $11,405 | $12,449 |
| Impact on return, per year | 0.52% | 0.52% | 0.52% |
BBALX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0069%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $26.1M
- Portfolio turnover (prospectus): 25%
- Securities lending: none during the year
BBALX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jane Street Execution Services, LLC | $2K | 43.14% |
| GOLDMAN SACHS & CO. LLC | $1K | 20.08% |
| FLOW TRADERS U.S. LLC | $932 | 17.13% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $377 | 6.92% |
| Citibank, National Association | $229 | 4.22% |
| Susquehanna Financial Group, LLLP | $206 | 3.78% |
| CITADEL ADVISORS LLC | $91 | 1.67% |
| VIRTU AMERICAS LLC | $71 | 1.31% |
| FLOW TRADERS U.S. INSTITUTIONAL TRADING LLC | $71 | 1.30% |
| MERRILL LYNCH INTERNATIONAL | $24 | 0.44% |
BBALX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $25.9M | 99.10% |
| CITADEL ADVISORS LLC | $50K | 0.19% |
| BMO Nesbitt Burns Securities Ltd. | $49K | 0.19% |
| MORGAN STANLEY & CO. LLC | $48K | 0.18% |
| JPMorgan Chase Bank, National Association | $47K | 0.18% |
| BMO Nesbitt Burns Inc. | $39K | 0.15% |
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.