C000140625 Fees and Costs — U.S. Equity Index PutWrite Strategy Portfolio, Class S
Data updated: 2024-05-24
The net expense ratio is 1.06%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.54% other expenses, less a 0.48% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $5K in broker commissions, 0.0137% of average net assets, and portfolio turnover was 36%.
C000140625 Fees and Expenses
Annual operating expenses and sales charges of C000140625. Prospectus, as of March 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.54% |
| Gross expense ratio | 1.54% |
| Fee waiver | −0.48% |
| Net expense ratio | 1.06% |
| 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 |
C000140625 Costs Over Time
On $10,000 invested in C000140625, assuming 5% a year before costs, total costs come to $671 over 5 years, cutting the return by 1.13% 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 1.06%) | $111 | $347 | $601 |
| Trading costs (broker commissions) | $1 | $4 | $8 |
| Lost growth on money paid in costs | $0 | $17 | $62 |
| Total costs | $113 | $369 | $671 |
| Value after costs | $10,387 | $11,207 | $12,092 |
| Impact on return, per year | 1.13% | 1.13% | 1.13% |
C000140625 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0137%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $111.8M
- Portfolio turnover (prospectus): 36%
- Securities lending: none during the year
C000140625 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $5K | 100.00% |
C000140625 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $79.9M | 71.43% |
| Nomura Securities International, Inc. | $6.5M | 5.80% |
| BMO Capital Markets Corp. | $5.6M | 4.99% |
| Multi-Bank Securities, Inc. | $4.8M | 4.32% |
| INTL FCStone Financial Inc. | $4.4M | 3.94% |
| MarketAxess Corporation | $4.0M | 3.54% |
| BNY Mellon Capital Markets, LLC | $2.0M | 1.82% |
| Natwest Markets Securities Inc. | $1.9M | 1.73% |
| MIDWESTERN SECURITIES TRADING COMPANY, LLC | $1.4M | 1.28% |
| TD SECURITIES (USA) LLC | $1.3M | 1.14% |
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.