C000075765 Fees and Costs — AZL Fidelity Institutional Asset Management Multi-Strategy Fund, Class 2
Data updated: 2026-08-25
The net expense ratio is 0.71%: a 0.43% management fee, a 0.25% 12b-1 fee plus 0.07% other expenses, less a 0.04% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $171K in broker commissions, 0.0124% of average net assets, and portfolio turnover was 62%.
C000075765 Fees and Expenses
Annual operating expenses and sales charges of C000075765. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.43% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.07% |
| Gross expense ratio | 0.75% |
| Fee waiver | −0.04% |
| Net expense ratio | 0.71% |
| 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 |
C000075765 Costs Over Time
On $10,000 invested in C000075765, assuming 5% a year before costs, total costs come to $454 over 5 years, cutting the return by 0.76% 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 0.71%) | $75 | $233 | $406 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $12 | $42 |
| Total costs | $76 | $249 | $454 |
| Value after costs | $10,424 | $11,327 | $12,308 |
| Impact on return, per year | 0.76% | 0.76% | 0.76% |
C000075765 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): 0.0124%
- Total broker commissions: $171K
- Bought from dealers (principal trades, not a cost): $2.4B
- Portfolio turnover (prospectus): 62%
- Securities on loan, average value: $5.2M
- Net income from securities lending: $59K (0.004% of average net assets)
C000075765 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $40K | 24.12% |
| Cowen and Company, LLC | $32K | 19.48% |
| Morgan Stanley & Co. LLC | $30K | 18.21% |
| BofA Securities, Inc. | $21K | 12.87% |
| UBS Securities LLC | $12K | 6.93% |
| J.P. Morgan Securities LLC | $9K | 5.71% |
| Citigroup Global Markets Inc. | $7K | 4.24% |
| Barclays Capital Inc. | $6K | 3.46% |
| Jefferies LLC | $5K | 2.81% |
| RBC Capital Markets, LLC | $4K | 2.16% |
C000075765 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY Mellon Capital Markets, LLC | $1.2B | 48.82% |
| Goldman Sachs & Co. LLC | $280.2M | 11.48% |
| J.P. Morgan Securities LLC | $210.2M | 8.61% |
| Morgan Stanley & Co. LLC | $193.9M | 7.94% |
| Barclays Capital Inc. | $180.3M | 7.38% |
| BofA Securities, Inc. | $103.0M | 4.22% |
| DEUTSCHE BANK SECURITIES INC. | $101.8M | 4.17% |
| Citigroup Global Markets Inc. | $79.7M | 3.26% |
| Mizuho Securities USA LLC | $58.5M | 2.40% |
| Wells Fargo Securities, LLC | $42.2M | 1.73% |
AZL Fidelity Institutional Asset Management Multi-Strategy Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000183413 | Class 1 | 0.46% | — |
| C000075765 | Class 2 | 0.71% | — |
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.