C000204811 Fees and Costs — Emerging Markets Targeted Value Portfolio, Institutional Class Shares
Data updated: 2026-09-24
The net expense ratio is 0.58%: a 0.52% management fee plus 0.13% other expenses, less a 0.07% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $59K in broker commissions, 0.0217% of average net assets, and portfolio turnover was 21%.
C000204811 Fees and Expenses
Annual operating expenses and sales charges of C000204811. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.52% |
| 12b-1 fee | — |
| Other expenses | 0.13% |
| Gross expense ratio | 0.65% |
| Fee waiver | −0.07% |
| Net expense ratio | 0.58% |
| 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 |
C000204811 Costs Over Time
On $10,000 invested in C000204811, assuming 5% a year before costs, total costs come to $379 over 5 years, cutting the return by 0.63% 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 0.58%) | $61 | $191 | $332 |
| Trading costs (broker commissions) | $2 | $7 | $12 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $63 | $208 | $379 |
| Value after costs | $10,437 | $11,369 | $12,383 |
| Impact on return, per year | 0.63% | 0.63% | 0.63% |
C000204811 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0217%
- Total broker commissions: $59K
- Bought from dealers (principal trades, not a cost): $893K
- Portfolio turnover (prospectus): 21%
- Securities on loan, average value: $13.4M
- Net income from securities lending: $460K (0.168% of average net assets)
C000204811 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $17K | 29.06% |
| Nomura Securities International, Inc. | $17K | 28.45% |
| Virtu Americas LLC | $15K | 25.75% |
| UBS Securities LLC | $8K | 12.75% |
| Citigroup Global Markets Inc. | $1K | 2.13% |
| Loop Capital Markets LLC | $559 | 0.95% |
| Goldman Sachs & Co. LLC | $534 | 0.90% |
| J.P. Morgan Securities LLC | $9 | 0.02% |
C000204811 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Loop Capital Markets LLC | $3 | 100.00% |
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.