C000253936 Fees and Costs — Small-Cap Plus Bond Alpha Portfolio, Class I
Data updated: 2026-08-11
The net expense ratio is 0.70%: a 0.45% management fee, a 0.20% 12b-1 fee plus 0.12% other expenses, less a 0.07% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $5K in broker commissions, 0.0037% of average net assets, and portfolio turnover was 22%.
C000253936 Fees and Expenses
Annual operating expenses and sales charges of C000253936. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.20% |
| Other expenses | 0.12% |
| Gross expense ratio | 0.77% |
| Fee waiver | −0.07% |
| Net expense ratio | 0.70% |
| 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 |
C000253936 Costs Over Time
On $10,000 invested in C000253936, assuming 5% a year before costs, total costs come to $443 over 5 years, cutting the return by 0.74% 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 0.70%) | $74 | $230 | $400 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $74 | $243 | $443 |
| Value after costs | $10,426 | $11,334 | $12,320 |
| Impact on return, per year | 0.74% | 0.74% | 0.74% |
C000253936 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): 0.0037%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $433.5M
- Portfolio turnover (prospectus): 22%
- Securities on loan, average value: $254K
- Net income from securities lending: $411 (0.000% of average net assets)
C000253936 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $3K | 60.43% |
| Goldman Sachs & Co. LLC | $2K | 39.57% |
C000253936 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities, LLC | $117.4M | 30.85% |
| Morgan Stanley & Co. LLC | $89.2M | 23.44% |
| Goldman Sachs & Co. LLC | $29.6M | 7.77% |
| Nomura Securities International, Inc. | $26.6M | 6.99% |
| Deutsche Bank Securities Inc. | $26.1M | 6.87% |
| Citigroup Global Markets Inc. | $22.6M | 5.93% |
| J.P. Morgan Securities LLC | $21.8M | 5.72% |
| BofA Securities, Inc. | $19.8M | 5.21% |
| BMO Capital Markets Corp. | $14.3M | 3.76% |
| Barclays Capital Inc. | $13.2M | 3.47% |
Small-Cap 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 |
|---|---|---|---|
| C000253935 | Class P | 0.50% | — |
| C000253936 | Class I | 0.70% | — |
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.