C000201583 Fees and Costs — Metropolitan West Flexible Income Fund, Class I
Data updated: 2024-06-11
The net expense ratio is 0.56%: a 0.45% management fee plus 0.29% other expenses, less a 0.19% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $27K in broker commissions, 0.0081% of average net assets, and portfolio turnover was 248%.
C000201583 Fees and Expenses
Annual operating expenses and sales charges of C000201583. Prospectus, as of July 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.29% |
| Gross expense ratio | 0.75% |
| Fee waiver | −0.19% |
| Net expense ratio | 0.56% |
| 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 |
C000201583 Costs Over Time
On $10,000 invested in C000201583, assuming 5% a year before costs, total costs come to $358 over 5 years, cutting the return by 0.60% 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 0.56%) | $59 | $184 | $321 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $9 | $33 |
| Total costs | $60 | $196 | $358 |
| Value after costs | $10,440 | $11,380 | $12,404 |
| Impact on return, per year | 0.60% | 0.60% | 0.60% |
C000201583 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0081%
- Total broker commissions: $27K
- Bought from dealers (principal trades, not a cost): $2.9B
- Portfolio turnover (prospectus): 248%
- Securities lending: none during the year
C000201583 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $11K | 41.75% |
| J.P. MORGAN SECURITIES LLC | $7K | 25.61% |
| GOLDMAN SACHS & CO. LLC | $5K | 19.54% |
| R.J. O'Brien Securities, LLC | $2K | 5.80% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $1K | 4.36% |
| CITIGROUP GLOBAL MARKETS INC. | $385 | 1.42% |
| Advantage Trading Ltd | $322 | 1.18% |
| ABN AMRO SECURITIES (USA) LLC | $95 | 0.35% |
C000201583 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $723.6M | 26.60% |
| Bank of America Corporation | $459.0M | 16.88% |
| GOLDMAN SACHS & CO. LLC | $357.8M | 13.16% |
| CitiGroup Global Markets Inc. | $355.2M | 13.06% |
| MIZUHO SECURITIES (USA) INC. | $265.0M | 9.74% |
| J.P. Morgan Securities LLC | $192.1M | 7.06% |
| WELLS FARGO SECURITIES, LLC | $128.4M | 4.72% |
| BARCLAYS CAPITAL, INC. | $125.0M | 4.60% |
| BMO CAPITAL MARKETS CORP. | $66.6M | 2.45% |
| UBS Group AG | $47.3M | 1.74% |
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.