C000125448 Fees and Costs — Variable Portfolio - Managed Volatility Conservative Fund, Class 2
Data updated: 2026-08-28
The net expense ratio is 0.95%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $32K in broker commissions, 0.0056% of average net assets, and portfolio turnover was 181%.
C000125448 Fees and Expenses
Annual operating expenses and sales charges of C000125448. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.21% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.09% |
| Gross expense ratio | 0.95% |
| Fee waiver | — |
| Net expense ratio | 0.95% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
C000125448 Costs Over Time
On $10,000 invested in C000125448, assuming 5% a year before costs, total costs come to $598 over 5 years, cutting the return by 1.00% 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 0.95%) | $100 | $311 | $540 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $16 | $55 |
| Total costs | $100 | $329 | $598 |
| Value after costs | $10,400 | $11,248 | $12,165 |
| Impact on return, per year | 1.00% | 1.00% | 1.00% |
C000125448 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): 0.0056%
- Total broker commissions: $32K
- Bought from dealers (principal trades, not a cost): $1.4B
- Portfolio turnover (prospectus): 181%
- Securities lending: none during the year
C000125448 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $11K | 33.89% |
| Goldman Sachs & Co. LLC | $9K | 28.04% |
| Jane Street Execution Services, LLC | $8K | 24.96% |
| Morgan Stanley & Co. LLC | $2K | 5.42% |
| Wells Fargo Securities, LLC | $888 | 2.78% |
| UBS Securities LLC | $743 | 2.32% |
| Barclays Capital Inc. | $632 | 1.98% |
| Jefferies LLC | $100 | 0.31% |
| Susquehanna Financial Group, LLLP | $63 | 0.20% |
| Virtu Americas LLC | $34 | 0.11% |
C000125448 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities, LLC | $770.8M | 53.64% |
| Barclays Capital Inc. | $200.2M | 13.93% |
| Morgan Stanley & Co. LLC | $156.0M | 10.86% |
| J.P. Morgan Securities LLC | $145.9M | 10.15% |
| Goldman Sachs & Co. LLC | $99.6M | 6.93% |
| Citigroup Global Markets Inc. | $51.5M | 3.58% |
| BMO Capital Markets Corp. | $12.9M | 0.89% |
Variable Portfolio - Managed Volatility Conservative Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000206835 | Class 1 | 0.70% | — |
| C000125448 | Class 2 | 0.95% | — |
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.