BNAAX Fees and Costs — Ubs Dynamic Alpha Fund, Class A
Data updated: 2023-11-28
The net expense ratio is 1.37% (2.33% before fee waivers). This share class carries a maximum front-end sales load of 5.50%. In fiscal 2023 the fund paid $4K in broker commissions, 0.0149% of average net assets, and portfolio turnover was 9%.
BNAAX Fees and Expenses
Annual operating expenses and sales charges of BNAAX. Prospectus, as of June 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.21% |
| Gross expense ratio | 2.33% |
| Fee waiver | −0.96% |
| Net expense ratio | 1.37% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| 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 | Yes |
BNAAX Costs Over Time
On $10,000 invested in BNAAX, assuming 5% a year before costs, total costs come to $1,514 over 5 years, cutting the return by 2.62% 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 | $550 | $550 | $550 |
| Fund expenses (net expense ratio 1.37%) | $136 | $422 | $730 |
| Trading costs (broker commissions) | $1 | $5 | $8 |
| Lost growth on money paid in costs | $28 | $108 | $227 |
| Total costs | $715 | $1,085 | $1,514 |
| Value after costs | $9,785 | $10,491 | $11,249 |
| Impact on return, per year | 7.15% | 3.39% | 2.62% |
BNAAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0149%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $86.0M
- Portfolio turnover (prospectus): 9%
- Securities on loan, average value: $399K
- Net income from securities lending: $9K (0.039% of average net assets)
BNAAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $4K | 100.00% |
BNAAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $41.7M | 50.76% |
| State Street Bank and Trust Company | $18.7M | 22.78% |
| J.P. Morgan Securities LLC | $7.4M | 8.98% |
| BMO Capital Markets Corp. | $7.2M | 8.81% |
| BNY Mellon Capital Markets, LLC | $2.0M | 2.48% |
| Morgan Stanley & Co. LLC | $1.3M | 1.55% |
| BofA Securities, Inc. | $1.1M | 1.33% |
| BNP Paribas Securities Corp. | $1.1M | 1.31% |
| Nomura Securities International, Inc. | $1.0M | 1.23% |
| Goldman Sachs & Co. LLC | $637K | 0.77% |
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.