C000010422 Fees and Costs — Dow 2x Strategy Fund, Variable Annuity
Data updated: 2026-08-21
The net expense ratio is 1.85%: a 0.90% management fee plus 1.05% other expenses, less a 0.10% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $5K in broker commissions, 0.0645% of average net assets, and portfolio turnover was 978%.
C000010422 Fees and Expenses
Annual operating expenses and sales charges of C000010422. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | — |
| Other expenses | 1.05% |
| Gross expense ratio | 1.95% |
| Fee waiver | −0.10% |
| Net expense ratio | 1.85% |
| 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 |
C000010422 Costs Over Time
On $10,000 invested in C000010422, assuming 5% a year before costs, total costs come to $1,176 over 5 years, cutting the return by 2.01% 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 1.85%) | $194 | $600 | $1,031 |
| Trading costs (broker commissions) | $7 | $21 | $36 |
| Lost growth on money paid in costs | $0 | $31 | $109 |
| Total costs | $201 | $652 | $1,176 |
| Value after costs | $10,299 | $10,924 | $11,587 |
| Impact on return, per year | 2.01% | 2.01% | 2.01% |
C000010422 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): 0.0645%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $506.8M
- Portfolio turnover (prospectus): 978%
- Securities lending: none during the year
C000010422 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CANTOR FITZGERALD & CO. | $1K | 28.95% |
| Instinet, LLC | $1K | 28.40% |
| GOLDMAN SACHS & CO. LLC | $1K | 22.05% |
| BTIG, LLC | $505 | 10.41% |
| BOFA SECURITIES, INC. | $334 | 6.88% |
| BARCLAYS CAPITAL INC. | $160 | 3.30% |
C000010422 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS CAPITAL INC. | $182.6M | 36.03% |
| J.P. MORGAN SECURITIES LLC | $141.8M | 27.98% |
| BNP Paribas | $118.0M | 23.28% |
| BOFA SECURITIES, INC. | $62.8M | 12.39% |
| BMO Capital Markets Corp. | $1.3M | 0.26% |
| Nomura Securities International, Inc. | $149K | 0.03% |
| JEFFERIES LLC | $149K | 0.03% |
| Citigroup Global Markets Inc. | $50K | 0.01% |
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.