C000047659 Fees and Costs — Moa International Fund
Data updated: 2026-08-27
The net expense ratio is 0.48%: a 0.40% management fee plus 0.07% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $291K in broker commissions, 0.0151% of average net assets, and portfolio turnover was 22%.
C000047659 Fees and Expenses
Annual operating expenses and sales charges of C000047659. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | — |
| Other expenses | 0.07% |
| Gross expense ratio | 0.48% |
| Fee waiver | — |
| Net expense ratio | 0.48% |
| 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 |
C000047659 Costs Over Time
On $10,000 invested in C000047659, assuming 5% a year before costs, total costs come to $313 over 5 years, cutting the return by 0.52% 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 0.48%) | $50 | $158 | $276 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $0 | $8 | $29 |
| Total costs | $52 | $171 | $313 |
| Value after costs | $10,448 | $11,405 | $12,450 |
| Impact on return, per year | 0.52% | 0.52% | 0.52% |
C000047659 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): 0.0151%
- Total broker commissions: $291K
- Bought from dealers (principal trades, not a cost): $733.0M
- Portfolio turnover (prospectus): 22%
- Securities lending: none during the year
C000047659 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $130K | 44.62% |
| RBC CAPITAL MARKETS, LLC | $39K | 13.39% |
| MORGAN STANLEY & CO. LLC | $38K | 12.94% |
| Raymond James & Associates, Inc. | $37K | 12.76% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $28K | 9.71% |
| Stifel, Nicolaus & Co., Inc. | $6K | 1.95% |
| BNY MELLON CAPITAL MARKETS, LLC | $5K | 1.58% |
| Citibank, National Association | $4K | 1.46% |
| JEFFERIES LLC | $3K | 1.10% |
| Instinet LLC | $1K | 0.48% |
C000047659 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JP MORGAN SECURITIES LLC | $211.7M | 28.96% |
| BARCLAYS CAPITAL, INC. | $165.2M | 22.59% |
| GOLDMAN SACHS & CO. LLC | $121.0M | 16.55% |
| Wells Fargo Securities LLC | $120.5M | 16.48% |
| Merrill Lynch Pierce Fenner & Smith Inc | $52.6M | 7.19% |
| CITADEL SECURITIES LLC | $27.7M | 3.79% |
| INTL FCSTONE FINANCIAL INC. | $14.9M | 2.03% |
| Mizuho Securities USA LLC | $13.1M | 1.79% |
| Royal Bank of Canada | $2.5M | 0.34% |
| BNY MELLON CAPITAL MARKETS, LLC | $2.0M | 0.27% |
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.