C000222086 Fees and Costs — Municipal Income Portfolio, Class I
Data updated: 2021-08-25
The net expense ratio is 0.55%: a 0.45% management fee plus 0.88% other expenses, less a 0.78% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 0%.
C000222086 Fees and Expenses
Annual operating expenses and sales charges of C000222086. Prospectus, as of January 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.88% |
| Gross expense ratio | 1.33% |
| Fee waiver | −0.78% |
| Net expense ratio | 0.55% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
C000222086 Costs Over Time
On $10,000 invested in C000222086, assuming 5% a year before costs, total costs come to $347 over 5 years, cutting the return by 0.58% 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 0.55%) | $58 | $181 | $315 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $58 | $190 | $347 |
| Value after costs | $10,442 | $11,386 | $12,416 |
| Impact on return, per year | 0.58% | 0.58% | 0.58% |
C000222086 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $3.6M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
C000222086 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| DEPFA First Albany Securities LLC | $940K | 26.41% |
| Citigroup Global Markets Inc. | $859K | 24.13% |
| RBC Capital Markets, LLC | $598K | 16.81% |
| BNY Mellon Capital Markets, LLC | $336K | 9.44% |
| UBS Securities LLC | $315K | 8.86% |
| Barclays Capital Inc. | $262K | 7.36% |
| Pershing LLC | $249K | 7.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.