C000253929 Fees and Costs — International Equity Plus Bond Alpha Portfolio, Class I
Data updated: 2026-08-11
The net expense ratio is 0.67%: a 0.45% management fee, a 0.20% 12b-1 fee plus 0.07% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $10K in broker commissions, 0.0033% of average net assets, and portfolio turnover was 18%.
C000253929 Fees and Expenses
Annual operating expenses and sales charges of C000253929. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.20% |
| Other expenses | 0.07% |
| Gross expense ratio | 0.72% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.67% |
| 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 |
C000253929 Costs Over Time
On $10,000 invested in C000253929, assuming 5% a year before costs, total costs come to $424 over 5 years, cutting the return by 0.71% 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 0.67%) | $70 | $220 | $383 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $11 | $39 |
| Total costs | $71 | $232 | $424 |
| Value after costs | $10,429 | $11,344 | $12,339 |
| Impact on return, per year | 0.71% | 0.71% | 0.71% |
C000253929 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): 0.0033%
- Total broker commissions: $10K
- Bought from dealers (principal trades, not a cost): $1.0B
- Portfolio turnover (prospectus): 18%
- Securities on loan, average value: $882K
- Net income from securities lending: $1K (0.000% of average net assets)
C000253929 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $7K | 70.04% |
| Goldman Sachs & Co. LLC | $3K | 29.96% |
C000253929 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities, LLC | $289.6M | 32.95% |
| Morgan Stanley & Co. LLC | $162.9M | 18.53% |
| Goldman Sachs & Co. LLC | $78.3M | 8.91% |
| Nomura Securities International, Inc. | $71.2M | 8.10% |
| BofA Securities, Inc. | $61.7M | 7.02% |
| J.P. Morgan Securities LLC | $56.4M | 6.42% |
| Citadel Securities LLC | $46.7M | 5.31% |
| Barclays Capital Inc. | $39.7M | 4.52% |
| Citigroup Global Markets Inc. | $39.0M | 4.43% |
| BMO Capital Markets Corp. | $33.4M | 3.80% |
International Equity Plus Bond Alpha Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000253930 | Class P | 0.47% | — |
| C000253929 | Class I | 0.67% | — |
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.