BULIX Fees and Costs — Utilities Fund, Investor Class
Data updated: 2026-09-14
The net expense ratio is 0.65%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $81K in broker commissions, 0.0272% of average net assets, and portfolio turnover was 77%.
BULIX Fees and Expenses
Annual operating expenses and sales charges of BULIX. Prospectus, as of November 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.65% |
| Fee waiver | — |
| Net expense ratio | 0.65% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
BULIX Costs Over Time
On $10,000 invested in BULIX, assuming 5% a year before costs, total costs come to $426 over 5 years, cutting the return by 0.71% 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 0.65%) | $68 | $214 | $372 |
| Trading costs (broker commissions) | $3 | $9 | $16 |
| Lost growth on money paid in costs | $0 | $11 | $39 |
| Total costs | $71 | $234 | $426 |
| Value after costs | $10,429 | $11,343 | $12,336 |
| Impact on return, per year | 0.71% | 0.71% | 0.71% |
BULIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0272%
- Total broker commissions: $81K
- Bought from dealers (principal trades, not a cost): $463.1M
- Portfolio turnover (prospectus): 77%
- Securities on loan, average value: $319K
- Net income from securities lending: $2K (0.001% of average net assets)
BULIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES | $16K | 22.95% |
| BERNSTEIN INSTITUTIONAL SERVICES | $15K | 21.68% |
| BANK OF AMERICA MERRILL LYNCH | $9K | 12.36% |
| ROBERT W BAIRD | $7K | 9.54% |
| EVERCORE ISI INVESTMENT GROUP | $5K | 7.58% |
| MORGAN STANLEY | $5K | 6.59% |
| PIPER SANDLER & CO | $4K | 6.24% |
| RAYMOND JAMES | $4K | 5.98% |
| UBS WARBURG | $3K | 3.58% |
| STIFEL NICOLAUS & CO MARKETS | $2K | 3.51% |
BULIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| STATE STREET GLOBAL MARKETS LLC | $458.8M | 99.07% |
| BMO CAPITAL MARKETS | $4.3M | 0.93% |
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.