C000226479 Fees and Costs — Hedged Equity Portfolio, Class I
Data updated: 2026-08-11
The net expense ratio is 0.86%: a 0.60% management fee, a 0.20% 12b-1 fee plus 0.06% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $87K in broker commissions, 0.0188% of average net assets, and portfolio turnover was 36%.
C000226479 Fees and Expenses
Annual operating expenses and sales charges of C000226479. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.20% |
| Other expenses | 0.06% |
| Gross expense ratio | 0.86% |
| Fee waiver | — |
| Net expense ratio | 0.86% |
| 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 | No |
C000226479 Costs Over Time
On $10,000 invested in C000226479, assuming 5% a year before costs, total costs come to $551 over 5 years, cutting the return by 0.92% 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 0.86%) | $90 | $282 | $490 |
| Trading costs (broker commissions) | $2 | $6 | $11 |
| Lost growth on money paid in costs | $0 | $14 | $50 |
| Total costs | $92 | $303 | $551 |
| Value after costs | $10,408 | $11,274 | $12,212 |
| Impact on return, per year | 0.92% | 0.92% | 0.92% |
C000226479 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0188%
- Total broker commissions: $87K
- Bought from dealers (principal trades, not a cost): $57.9M
- Portfolio turnover (prospectus): 36%
- Securities lending: none during the year
C000226479 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $28K | 34.35% |
| Goldman Sachs & Co. LLC | $27K | 33.45% |
| BofA Securities, Inc. | $8K | 10.07% |
| RBC Capital Markets, LLC | $6K | 7.89% |
| Barclays Capital Inc. | $3K | 3.68% |
| Morgan Stanley & Co. LLC | $2K | 2.94% |
| Jefferies LLC | $2K | 2.50% |
| BNP Paribas Securities Corp. | $2K | 2.24% |
| Liquidnet, Inc. | $1K | 1.61% |
| Nomura Securities International, Inc. | $1K | 1.28% |
C000226479 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $48.7M | 84.06% |
| Scotia Capital (USA) Inc. | $8.3M | 14.29% |
| Goldman Sachs & Co. LLC | $957K | 1.65% |
Hedged Equity Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000226478 | Class P | 0.66% | — |
| C000226479 | Class I | 0.86% | — |
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.