C000085556 Fees and Costs — Commodity Strategies Fund, Class E
Data updated: 2021-03-30
The net expense ratio is 1.39% (2.32% before fee waivers). There are no sales loads or redemption fees. In fiscal 2020 the fund paid $399K in broker commissions, 0.1443% of average net assets, and portfolio turnover was 36%.
C000085556 Fees and Expenses
Annual operating expenses and sales charges of C000085556. Prospectus, as of February 29, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.73% |
| Gross expense ratio | 2.32% |
| Fee waiver | −0.93% |
| Net expense ratio | 1.39% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
C000085556 Costs Over Time
On $10,000 invested in C000085556, assuming 5% a year before costs, total costs come to $950 over 5 years, cutting the return by 1.61% 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 1.39%) | $146 | $453 | $781 |
| Trading costs (broker commissions) | $15 | $47 | $81 |
| Lost growth on money paid in costs | $0 | $25 | $88 |
| Total costs | $161 | $525 | $950 |
| Value after costs | $10,339 | $11,052 | $11,813 |
| Impact on return, per year | 1.61% | 1.61% | 1.61% |
C000085556 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.1443%
- Total broker commissions: $399K
- Bought from dealers (principal trades, not a cost): $3.1B
- Portfolio turnover (prospectus): 36%
- Securities lending: none during the year
C000085556 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $336K | 84.05% |
| Goldman Sachs & Co. LLC | $64K | 15.93% |
| J.P. Morgan Securities LLC | $54 | 0.01% |
| Citigroup Global Markets Inc. | $5 | 0.00% |
C000085556 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.8B | 60.64% |
| Citigroup Global Markets Inc. | $198.8M | 6.82% |
| Morgan Stanley & Co. LLC | $197.8M | 6.78% |
| Pershing LLC | $152.8M | 5.24% |
| Russell Investments Implementation Services, LLC | $131.5M | 4.51% |
| J.P. Morgan Securities LLC | $112.9M | 3.87% |
| Barclays Capital Inc. | $108.2M | 3.71% |
| Deutsche Bank Securities Inc. | $103.2M | 3.54% |
| Nomura Securities International, Inc. | $80.0M | 2.74% |
| Goldman Sachs & Co. LLC | $62.5M | 2.14% |
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.