C000253933 Fees and Costs — QQQ Plus Bond Alpha Portfolio, Class I
Data updated: 2026-08-11
The net expense ratio is 0.64%: a 0.45% management fee, a 0.20% 12b-1 fee plus 0.08% other expenses, less a 0.09% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $12K in broker commissions, 0.0025% of average net assets, and portfolio turnover was 19%.
C000253933 Fees and Expenses
Annual operating expenses and sales charges of C000253933. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.20% |
| Other expenses | 0.08% |
| Gross expense ratio | 0.73% |
| Fee waiver | −0.09% |
| Net expense ratio | 0.64% |
| 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 |
C000253933 Costs Over Time
On $10,000 invested in C000253933, assuming 5% a year before costs, total costs come to $405 over 5 years, cutting the return by 0.67% 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 0.64%) | $67 | $210 | $366 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $10 | $37 |
| Total costs | $67 | $222 | $405 |
| Value after costs | $10,433 | $11,355 | $12,358 |
| Impact on return, per year | 0.67% | 0.67% | 0.67% |
C000253933 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): 0.0025%
- Total broker commissions: $12K
- Bought from dealers (principal trades, not a cost): $1.7B
- Portfolio turnover (prospectus): 19%
- Securities on loan, average value: $2.4M
- Net income from securities lending: $3K (0.001% of average net assets)
C000253933 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $11K | 92.00% |
| Goldman Sachs & Co. LLC | $985 | 8.00% |
C000253933 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities, LLC | $401.2M | 27.70% |
| Morgan Stanley & Co. LLC | $390.1M | 26.94% |
| Goldman Sachs & Co. LLC | $155.6M | 10.74% |
| J.P. Morgan Securities LLC | $103.9M | 7.18% |
| Citigroup Global Markets Inc. | $84.3M | 5.82% |
| BofA Securities, Inc. | $84.0M | 5.80% |
| Nomura Securities International, Inc. | $76.5M | 5.28% |
| Deutsche Bank Securities Inc. | $59.2M | 4.09% |
| BNY Capital Markets, LLC | $50.5M | 3.48% |
| BMO Capital Markets Corp. | $43.1M | 2.97% |
QQQ 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 |
|---|---|---|---|
| C000253934 | Class P | 0.46% | — |
| C000253933 | Class I | 0.64% | — |
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.