FBIOX Fees and Costs — Select Biotechnology Portfolio
Data updated: 2026-07-24
The net expense ratio is 0.62%: a 0.61% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1.5M in broker commissions, 0.0329% of average net assets, and portfolio turnover was 45%.
FBIOX Fees and Expenses
Annual operating expenses and sales charges of FBIOX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.61% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.62% |
| Fee waiver | — |
| Net expense ratio | 0.62% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
FBIOX Costs Over Time
On $10,000 invested in FBIOX, assuming 5% a year before costs, total costs come to $411 over 5 years, cutting the return by 0.69% 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 0.62%) | $65 | $204 | $355 |
| Trading costs (broker commissions) | $3 | $11 | $19 |
| Lost growth on money paid in costs | $0 | $11 | $38 |
| Total costs | $69 | $225 | $411 |
| Value after costs | $10,431 | $11,351 | $12,352 |
| Impact on return, per year | 0.69% | 0.69% | 0.69% |
FBIOX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0329%
- Total broker commissions: $1.5M
- Bought from dealers (principal trades, not a cost): $203.3M
- Portfolio turnover (prospectus): 45%
- Securities on loan, average value: $204.0M
- Net income from securities lending: $3.6M (0.080% of average net assets)
FBIOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE and CO | $147K | 14.91% |
| GOLDMAN SACHS GROUP INC (THE) | $139K | 14.05% |
| MORGAN STANLEY | $132K | 13.43% |
| BANK OF AMERICA CORPORATION | $115K | 11.70% |
| UBS GROUP AG | $100K | 10.14% |
| JEFFERIES FINANCIAL GROUP INC | $95K | 9.60% |
| THE TORONTO DOMINION BANK | $89K | 9.07% |
| VIRTU FINANCIAL INC | $71K | 7.19% |
| CITIGROUP INC | $54K | 5.49% |
| TP ICAP GROUP PLC | $44K | 4.42% |
FBIOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES FINANCIAL GROUP INC | $49.7M | 24.46% |
| JPMORGAN CHASE and CO | $48.5M | 23.87% |
| LEERINK PARTNERS LLC | $33.9M | 16.70% |
| GOLDMAN SACHS GROUP INC (THE) | $26.8M | 13.20% |
| PIPER SANDLER COS | $17.9M | 8.81% |
| MORGAN STANLEY | $13.5M | 6.62% |
| THE TORONTO DOMINION BANK | $8.1M | 3.99% |
| CITIGROUP INC | $2.0M | 0.98% |
| GUGGENHEIM CAPITAL LLC | $1.5M | 0.74% |
| BANK OF AMERICA CORPORATION | $1.3M | 0.63% |
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.