ENVIX Fees and Costs — Environmental Sustainability Fund, Class I
Data updated: 2024-05-28
The net expense ratio is 0.95%: a 0.75% management fee plus 3.54% other expenses, less a 3.34% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $515 in broker commissions, 0.0130% of average net assets, and portfolio turnover was 14%.
ENVIX Fees and Expenses
Annual operating expenses and sales charges of ENVIX. Prospectus, as of April 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 3.54% |
| Gross expense ratio | 4.29% |
| Fee waiver | −3.34% |
| Net expense ratio | 0.95% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
ENVIX Costs Over Time
On $10,000 invested in ENVIX, assuming 5% a year before costs, total costs come to $603 over 5 years, cutting the return by 1.01% 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 0.95%) | $100 | $311 | $540 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $16 | $55 |
| Total costs | $101 | $331 | $603 |
| Value after costs | $10,399 | $11,245 | $12,160 |
| Impact on return, per year | 1.01% | 1.01% | 1.01% |
ENVIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0130%
- Total broker commissions: $515
- Bought from dealers (principal trades, not a cost): $1.2M
- Portfolio turnover (prospectus): 14%
- Securities on loan, average value: $394K
- Net income from securities lending: $21K (0.541% of average net assets)
ENVIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $90 | 17.93% |
| BofA Securities, Inc. | $82 | 16.28% |
| BNY Mellon Capital Markets, LLC | $80 | 15.97% |
| Jefferies LLC | $76 | 15.22% |
| National Financial Services LLC | $62 | 12.42% |
| Sanford C. Bernstein & Co., LLC | $46 | 9.10% |
| Goldman Sachs & Co. LLC | $22 | 4.31% |
| Deutsche Bank Securities Inc. | $18 | 3.51% |
| J.P. Morgan Securities LLC | $16 | 3.19% |
| BMO Capital Markets Corp. | $10 | 2.06% |
ENVIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.2M | 96.21% |
| J.P. Morgan Securities LLC | $28K | 2.25% |
| Goldman Sachs & Co. LLC | $19K | 1.54% |
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.