DINAX Fees and Costs — Morgan Stanley Income Opportunities Fund, Class A
Data updated: 2026-01-13
The net expense ratio is 0.85%: a 0.32% management fee, a 0.25% 12b-1 fee plus 0.28% other expenses. This share class carries a maximum front-end sales load of 3.25%. In fiscal 2025 the fund paid $54K in broker commissions, 0.0079% of average net assets, and portfolio turnover was 155%.
DINAX Fees and Expenses
Annual operating expenses and sales charges of DINAX. Prospectus, as of May 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.32% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.28% |
| Gross expense ratio | 0.85% |
| Fee waiver | — |
| Net expense ratio | 0.85% |
| Sales charges | |
|---|---|
| Max front load | 3.25% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
DINAX Costs Over Time
On $10,000 invested in DINAX, assuming 5% a year before costs, total costs come to $935 over 5 years, cutting the return by 1.59% 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 |
| Sales charges | $325 | $325 | $325 |
| Fund expenses (net expense ratio 0.85%) | $86 | $270 | $469 |
| Trading costs (broker commissions) | $1 | $3 | $4 |
| Lost growth on money paid in costs | $16 | $65 | $137 |
| Total costs | $428 | $662 | $935 |
| Value after costs | $10,072 | $10,914 | $11,827 |
| Impact on return, per year | 4.28% | 2.04% | 1.59% |
DINAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0079%
- Total broker commissions: $54K
- Bought from dealers (principal trades, not a cost): $5.8B
- Portfolio turnover (prospectus): 155%
- Securities on loan, average value: $7.9M
- Net income from securities lending: $136K (0.020% of average net assets)
DINAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $54K | 99.87% |
| BofA Securities, Inc. | $68 | 0.13% |
DINAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.3B | 26.35% |
| Goldman Sachs & Co. LLC | $725.8M | 14.27% |
| J.P. Morgan Securities LLC | $707.0M | 13.90% |
| Wells Fargo Securities, LLC | $607.6M | 11.94% |
| BofA Securities, Inc. | $385.9M | 7.59% |
| BMO Capital Markets Corp. | $330.8M | 6.50% |
| Barclays Capital Inc. | $312.0M | 6.13% |
| Mizuho Securities USA LLC | $263.1M | 5.17% |
| Citigroup Global Markets Inc. | $230.8M | 4.54% |
| BNP Paribas Securities Corp. | $184.2M | 3.62% |
Morgan Stanley Income Opportunities Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MGFOX | Class R6 | 0.49% | none |
| MFIRX | Class IR | 0.57% | — |
| DINDX | Class I | 0.62% | none |
| DINAX | Class A | 0.85% | 3.25% |
| DINCX | Class L | 1.21% | none |
| MSIPX | Class C | 1.60% | none |
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.