C000010427 Fees and Costs — Banking Fund, Variable Annuity
Data updated: 2026-08-21
The net expense ratio is 1.78%: a 0.85% management fee plus 0.98% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2K in broker commissions, 0.0360% of average net assets, and portfolio turnover was 78%.
C000010427 Fees and Expenses
Annual operating expenses and sales charges of C000010427. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | — |
| Other expenses | 0.98% |
| Gross expense ratio | 1.83% |
| Fee waiver | −0.05% |
| Net expense ratio | 1.78% |
| 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 | No |
C000010427 Costs Over Time
On $10,000 invested in C000010427, assuming 5% a year before costs, total costs come to $1,118 over 5 years, cutting the return by 1.91% 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 1.78%) | $187 | $578 | $994 |
| Trading costs (broker commissions) | $4 | $12 | $20 |
| Lost growth on money paid in costs | $0 | $29 | $103 |
| Total costs | $191 | $619 | $1,118 |
| Value after costs | $10,309 | $10,957 | $11,645 |
| Impact on return, per year | 1.91% | 1.91% | 1.91% |
C000010427 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): 0.0360%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $8.7M
- Portfolio turnover (prospectus): 78%
- Securities on loan, average value: $27K
- Net income from securities lending: $370 (0.006% of average net assets)
C000010427 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Instinet, LLC | $1K | 49.40% |
| BARCLAYS CAPITAL INC. | $515 | 24.82% |
| BOFA SECURITIES, INC. | $218 | 10.51% |
| BTIG, LLC | $154 | 7.43% |
| CANTOR FITZGERALD & CO. | $119 | 5.75% |
| UBS SECURITIES LLC | $43 | 2.09% |
C000010427 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $4.4M | 51.37% |
| BOFA SECURITIES, INC. | $2.1M | 24.64% |
| BARCLAYS CAPITAL INC. | $2.1M | 23.99% |
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.