C000081963 Fees and Costs — Strategic Advisers Core Fund
Data updated: 2020-10-16
The net expense ratio is 0.30% (0.55% before fee waivers). There are no sales loads or redemption fees. In fiscal 2020 the fund paid $7.5M in broker commissions, 0.0289% of average net assets, and portfolio turnover was 90%.
C000081963 Fees and Expenses
Annual operating expenses and sales charges of C000081963. Prospectus, as of July 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.55% |
| Fee waiver | −0.25% |
| Net expense ratio | 0.30% |
| 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 |
C000081963 Costs Over Time
On $10,000 invested in C000081963, assuming 5% a year before costs, total costs come to $209 over 5 years, cutting the return by 0.35% 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 0.30%) | $32 | $99 | $173 |
| Trading costs (broker commissions) | $3 | $10 | $17 |
| Lost growth on money paid in costs | $0 | $5 | $19 |
| Total costs | $35 | $114 | $209 |
| Value after costs | $10,465 | $11,462 | $12,554 |
| Impact on return, per year | 0.35% | 0.35% | 0.35% |
C000081963 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0289%
- Total broker commissions: $7.5M
- Bought from dealers (principal trades, not a cost): $45.9M
- Portfolio turnover (prospectus): 90%
- Securities on loan, average value: $85.2M
- Net income from securities lending: $769K (0.003% of average net assets)
C000081963 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY | $854K | 15.26% |
| BANK OF AMERICA CORPORATION | $841K | 15.03% |
| GOLDMAN SACHS GROUP INC (THE) | $828K | 14.78% |
| JPMORGAN CHASE and CO | $824K | 14.72% |
| CITIGROUP INC | $454K | 8.10% |
| CREDIT SUISSE GRP AG | $453K | 8.09% |
| UBS GROUP AG | $388K | 6.93% |
| JEFFERIES GROUP LLC | $375K | 6.70% |
| COWEN INC | $309K | 5.51% |
| EVERCORE INC | $273K | 4.87% |
C000081963 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE and CO | $12.1M | 29.18% |
| MORGAN STANLEY | $8.4M | 20.20% |
| BANK OF AMERICA CORPORATION | $6.3M | 15.16% |
| GOLDMAN SACHS GROUP INC (THE) | $3.5M | 8.35% |
| NOMURA HOLDINGS INC | $3.2M | 7.67% |
| BARCLAYS PLC (UNGTD) | $2.2M | 5.41% |
| WELLS FARGO and CO | $2.0M | 4.89% |
| CITIGROUP INC | $1.4M | 3.44% |
| SVB FINANCIAL GROUP | $1.4M | 3.27% |
| JEFFERIES GROUP LLC | $1.0M | 2.43% |
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.