C000000084 Fees and Costs — Small Cap Value Portfolio
Data updated: 2026-08-20
The net expense ratio is 0.87%: a 0.85% management fee plus 0.03% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $333K in broker commissions, 0.0592% of average net assets, and portfolio turnover was 40%.
C000000084 Fees and Expenses
Annual operating expenses and sales charges of C000000084. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.03% |
| Gross expense ratio | 0.88% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.87% |
| 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 |
C000000084 Costs Over Time
On $10,000 invested in C000000084, assuming 5% a year before costs, total costs come to $582 over 5 years, cutting the return by 0.98% 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 0.87%) | $91 | $285 | $495 |
| Trading costs (broker commissions) | $6 | $19 | $34 |
| Lost growth on money paid in costs | $0 | $15 | $53 |
| Total costs | $98 | $320 | $582 |
| Value after costs | $10,402 | $11,257 | $12,181 |
| Impact on return, per year | 0.98% | 0.98% | 0.98% |
C000000084 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0592%
- Total broker commissions: $333K
- Bought from dealers (principal trades, not a cost): $11.9M
- Portfolio turnover (prospectus): 40%
- Securities lending: none during the year
C000000084 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BMO Capital Markets Corp. | $30K | 17.09% |
| J.P. Morgan Securities LLC | $22K | 12.49% |
| Jefferies LLC | $20K | 11.50% |
| Evercore Group L.L.C. | $20K | 11.27% |
| RBC Capital Markets, LLC | $19K | 10.76% |
| Morgan Stanley & Co. LLC | $16K | 9.36% |
| Goldman Sachs & Co. LLC | $16K | 9.04% |
| Cowen and Company, LLC | $12K | 6.75% |
| UBS Securities LLC | $11K | 6.44% |
| BofA Securities, Inc. | $9K | 5.30% |
C000000084 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $2.8M | 23.79% |
| Goldman Sachs & Co. LLC | $2.8M | 23.43% |
| BofA Securities, Inc. | $1.9M | 15.55% |
| Cowen and Company, LLC | $1.4M | 11.50% |
| J.P. Morgan Securities LLC | $1.2M | 9.84% |
| Citigroup Global Markets Inc. | $745K | 6.24% |
| Wedbush Securities Inc. | $580K | 4.86% |
| BNY Capital Markets, LLC | $268K | 2.24% |
| Piper Sandler & Co. | $247K | 2.06% |
| Jefferies LLC | $59K | 0.50% |
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.