C000000090 Fees and Costs — Focused Appreciation Portfolio
Data updated: 2026-08-20
The net expense ratio is 0.58%: a 0.72% management fee plus 0.01% other expenses, less a 0.15% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $47K in broker commissions, 0.0032% of average net assets, and portfolio turnover was 2%.
C000000090 Fees and Expenses
Annual operating expenses and sales charges of C000000090. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.72% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.73% |
| Fee waiver | −0.15% |
| Net expense ratio | 0.58% |
| 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 |
C000000090 Costs Over Time
On $10,000 invested in C000000090, assuming 5% a year before costs, total costs come to $368 over 5 years, cutting the return by 0.61% 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 0.58%) | $61 | $191 | $332 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $9 | $34 |
| Total costs | $61 | $201 | $368 |
| Value after costs | $10,439 | $11,375 | $12,395 |
| Impact on return, per year | 0.61% | 0.61% | 0.61% |
C000000090 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): 0.0032%
- Total broker commissions: $47K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 2%
- Securities lending: none during the year
C000000090 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Liquidnet, Inc. | $11K | 22.85% |
| J.P. Morgan Securities LLC | $8K | 17.42% |
| Virtu Americas LLC | $7K | 14.71% |
| Morgan Stanley & Co. LLC | $7K | 14.24% |
| Barclays Capital Inc. | $6K | 11.87% |
| Nomura Securities International, Inc. | $4K | 7.78% |
| Goldman Sachs & Co. LLC | $3K | 6.77% |
| Piper Sandler & Co. | $2K | 4.36% |
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.