FSRBX Fees and Costs — Select Banking Portfolio
Data updated: 2026-07-24
The net expense ratio is 0.69%: a 0.66% management fee plus 0.03% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $122K in broker commissions, 0.0278% of average net assets, and portfolio turnover was 25%.
FSRBX Fees and Expenses
Annual operating expenses and sales charges of FSRBX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.66% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.03% |
| Gross expense ratio | 0.69% |
| Fee waiver | — |
| Net expense ratio | 0.69% |
| 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 |
FSRBX Costs Over Time
On $10,000 invested in FSRBX, assuming 5% a year before costs, total costs come to $452 over 5 years, cutting the return by 0.75% 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 0.69%) | $72 | $227 | $394 |
| Trading costs (broker commissions) | $3 | $9 | $16 |
| Lost growth on money paid in costs | $0 | $12 | $41 |
| Total costs | $75 | $247 | $452 |
| Value after costs | $10,425 | $11,329 | $12,311 |
| Impact on return, per year | 0.75% | 0.75% | 0.75% |
FSRBX 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): 0.0278%
- Total broker commissions: $122K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 25%
- Securities on loan, average value: $10.1M
- Net income from securities lending: $7K (0.002% of average net assets)
FSRBX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS PLC | $26K | 25.05% |
| BANK OF AMERICA CORPORATION | $18K | 17.42% |
| UBS GROUP AG | $15K | 14.53% |
| GOLDMAN SACHS GROUP INC (THE) | $12K | 11.97% |
| JPMORGAN CHASE and CO | $10K | 9.69% |
| MORGAN STANLEY | $7K | 7.10% |
| GUGGENHEIM CAPITAL LLC | $4K | 4.35% |
| KEYCORP | $4K | 3.58% |
| THE TORONTO DOMINION BANK | $3K | 3.30% |
| STEPHENS INC. | $3K | 3.01% |
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.