FSELX Fees and Costs — Select Semiconductors Portfolio
Data updated: 2026-07-24
The net expense ratio is 0.60%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $3.7M in broker commissions, 0.0154% of average net assets, and portfolio turnover was 87%.
FSELX Fees and Expenses
Annual operating expenses and sales charges of FSELX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.60% |
| Fee waiver | — |
| Net expense ratio | 0.60% |
| 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 |
FSELX Costs Over Time
On $10,000 invested in FSELX, assuming 5% a year before costs, total costs come to $388 over 5 years, cutting the return by 0.65% 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 0.60%) | $63 | $197 | $344 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $65 | $212 | $388 |
| Value after costs | $10,435 | $11,364 | $12,375 |
| Impact on return, per year | 0.65% | 0.65% | 0.65% |
FSELX 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): 0.0154%
- Total broker commissions: $3.7M
- Bought from dealers (principal trades, not a cost): $246.4M
- Portfolio turnover (prospectus): 87%
- Securities on loan, average value: $229.1M
- Net income from securities lending: $1.2M (0.005% of average net assets)
FSELX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY | $536K | 18.58% |
| GOLDMAN SACHS GROUP INC (THE) | $500K | 17.33% |
| CITIGROUP INC | $479K | 16.61% |
| BANK OF AMERICA CORPORATION | $367K | 12.73% |
| JPMORGAN CHASE and CO | $297K | 10.30% |
| JEFFERIES FINANCIAL GROUP INC | $191K | 6.61% |
| UBS GROUP AG | $182K | 6.30% |
| VIRTU FINANCIAL INC | $117K | 4.04% |
| NOMURA HOLDINGS INC | $115K | 3.98% |
| BARCLAYS PLC | $101K | 3.52% |
FSELX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS GROUP INC (THE) | $180.5M | 73.25% |
| BANK OF AMERICA CORPORATION | $65.9M | 26.75% |
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.