C000008700 Fees and Costs — Access Flex Bear High Yield Fund, Service Class
Data updated: 2021-03-30
The net expense ratio is 2.78%: a 0.75% management fee, a 1.00% 12b-1 fee plus 4.81% other expenses, less a 3.78% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $172 in broker commissions, 0.0190% of average net assets, and portfolio turnover was 0%.
C000008700 Fees and Expenses
Annual operating expenses and sales charges of C000008700. Prospectus, as of February 28, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 1.00% |
| Other expenses | 4.81% |
| Gross expense ratio | 6.56% |
| Fee waiver | −3.78% |
| Net expense ratio | 2.78% |
| 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 | Yes |
C000008700 Costs Over Time
On $10,000 invested in C000008700, assuming 5% a year before costs, total costs come to $1,689 over 5 years, cutting the return by 2.94% 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 2.78%) | $292 | $894 | $1,521 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $0 | $45 | $158 |
| Total costs | $294 | $945 | $1,689 |
| Value after costs | $10,206 | $10,631 | $11,074 |
| Impact on return, per year | 2.94% | 2.94% | 2.94% |
C000008700 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0190%
- Total broker commissions: $172
- Bought from dealers (principal trades, not a cost): $134.0M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
C000008700 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $509 | 74.70% |
| RBC (FUTURES - BONDS) | $172 | 25.30% |
C000008700 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| SG AMERICAS SECURITIES, LLC | $55.0M | 41.01% |
| RBC CAPITAL MARKETS LLC REPO | $26.7M | 19.95% |
| HSBC SECURITIES (USA) INC | $25.5M | 19.02% |
| CIBC WORLD MARKETS CORP. | $13.8M | 10.31% |
| UMB FINANCIAL SERVICES, INC. | $8.5M | 6.32% |
| CREDIT AGRICOLE SECURITIES (USA) INC. | $4.1M | 3.04% |
| DEUTSCHE BANK SECURITIES INC. | $254K | 0.19% |
| CITIGROUP GLOBAL MARKETS INC. | $125K | 0.09% |
| CREDIT SUISSE SECURITIES (USA) LLC | $78K | 0.06% |
| BMO CAPITAL MARKETS CORP. | $23K | 0.02% |
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.