C000164150 Fees and Costs — High Yield Municipal Portfolio
Data updated: 2024-09-16
The net expense ratio is 0.89%: a 0.57% management fee plus 0.32% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 25%.
C000164150 Fees and Expenses
Annual operating expenses and sales charges of C000164150. Prospectus, as of February 29, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.57% |
| 12b-1 fee | — |
| Other expenses | 0.32% |
| Gross expense ratio | 0.89% |
| Fee waiver | — |
| Net expense ratio | 0.89% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
C000164150 Costs Over Time
On $10,000 invested in C000164150, assuming 5% a year before costs, total costs come to $558 over 5 years, cutting the return by 0.93% 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 0.89%) | $93 | $292 | $507 |
| Lost growth on money paid in costs | $0 | $14 | $51 |
| Total costs | $93 | $306 | $558 |
| Value after costs | $10,407 | $11,270 | $12,205 |
| Impact on return, per year | 0.93% | 0.93% | 0.93% |
C000164150 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $287.6M
- Portfolio turnover (prospectus): 25%
- Securities lending: none during the year
C000164150 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $193.8M | 69.13% |
| J.P. Morgan Securities LLC | $20.9M | 7.45% |
| BNY Mellon Capital Markets, LLC | $12.9M | 4.59% |
| Wells Fargo Securities, LLC | $12.4M | 4.44% |
| Goldman Sachs & Co. LLC | $10.2M | 3.64% |
| Barclays Capital Inc. | $8.9M | 3.16% |
| Guardian Capital LP | $8.7M | 3.11% |
| Citigroup Global Markets Inc. | $7.2M | 2.55% |
| Jefferies LLC | $3.4M | 1.23% |
| U.S. Bancorp Investments, Inc. | $2.0M | 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.