C000253928 Fees and Costs — Bond Plus Portfolio, Class I
Data updated: 2026-08-11
The net expense ratio is 0.66%: a 0.45% management fee, a 0.20% 12b-1 fee plus 0.06% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $14K in broker commissions, 0.0027% of average net assets, and portfolio turnover was 20%.
C000253928 Fees and Expenses
Annual operating expenses and sales charges of C000253928. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.20% |
| Other expenses | 0.06% |
| Gross expense ratio | 0.71% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.66% |
| 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 |
C000253928 Costs Over Time
On $10,000 invested in C000253928, assuming 5% a year before costs, total costs come to $417 over 5 years, cutting the return by 0.70% 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 0.66%) | $69 | $217 | $378 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $11 | $38 |
| Total costs | $70 | $229 | $417 |
| Value after costs | $10,430 | $11,348 | $12,345 |
| Impact on return, per year | 0.70% | 0.70% | 0.70% |
C000253928 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): 0.0027%
- Total broker commissions: $14K
- Bought from dealers (principal trades, not a cost): $1.5B
- Portfolio turnover (prospectus): 20%
- Securities on loan, average value: $2.4M
- Net income from securities lending: $3K (0.001% of average net assets)
C000253928 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $12K | 90.72% |
| Goldman Sachs & Co. LLC | $1K | 9.28% |
C000253928 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $347.7M | 27.17% |
| Wells Fargo Securities, LLC | $342.2M | 26.74% |
| Goldman Sachs & Co. LLC | $149.2M | 11.66% |
| BofA Securities, Inc. | $82.2M | 6.42% |
| J.P. Morgan Securities LLC | $79.8M | 6.24% |
| Citadel Securities LLC | $70.4M | 5.50% |
| Barclays Capital Inc. | $58.9M | 4.60% |
| BNY Capital Markets, LLC | $58.1M | 4.54% |
| Citigroup Global Markets Inc. | $48.4M | 3.78% |
| Nomura Securities International, Inc. | $42.9M | 3.35% |
Bond Plus Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000253927 | Class P | 0.46% | — |
| C000253928 | Class I | 0.66% | — |
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.