C000069235 Fees and Costs — Global Managed Futures Strategy Fund, Variable Annuity
Data updated: 2026-08-21
The net expense ratio is 2.18% (2.32% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $71K in broker commissions, 0.6248% of average net assets, and portfolio turnover was 0%.
C000069235 Fees and Expenses
Annual operating expenses and sales charges of C000069235. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.04% |
| 12b-1 fee | — |
| Other expenses | 1.16% |
| Gross expense ratio | 2.32% |
| Fee waiver | −0.14% |
| Net expense ratio | 2.18% |
| 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 |
C000069235 Costs Over Time
On $10,000 invested in C000069235, assuming 5% a year before costs, total costs come to $1,692 over 5 years, cutting the return by 2.95% 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 2.18%) | $229 | $701 | $1,193 |
| Trading costs (broker commissions) | $66 | $201 | $342 |
| Lost growth on money paid in costs | $0 | $45 | $158 |
| Total costs | $295 | $947 | $1,692 |
| Value after costs | $10,205 | $10,629 | $11,071 |
| Impact on return, per year | 2.95% | 2.95% | 2.95% |
C000069235 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): 0.6248%
- Total broker commissions: $71K
- Bought from dealers (principal trades, not a cost): $1.2B
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
C000069235 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $71K | 100.00% |
C000069235 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $643.9M | 51.53% |
| BARCLAYS CAPITAL INC. | $305.4M | 24.44% |
| BOFA SECURITIES, INC. | $300.2M | 24.02% |
| GOLDMAN SACHS & CO. LLC | $129K | 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.