MAADX Fees and Costs — Dynamic Value Portfolio, Class R6
Data updated: 2025-08-22
The net expense ratio is 0.50%: a 0.35% management fee plus 0.36% other expenses, less a 0.21% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $266K in broker commissions, 0.2382% of average net assets, and portfolio turnover was 207%.
MAADX Fees and Expenses
Annual operating expenses and sales charges of MAADX. Prospectus, as of January 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.36% |
| Gross expense ratio | 0.71% |
| Fee waiver | −0.21% |
| Net expense ratio | 0.50% |
| 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 |
MAADX Costs Over Time
On $10,000 invested in MAADX, assuming 5% a year before costs, total costs come to $464 over 5 years, cutting the return by 0.78% 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 0.50%) | $52 | $164 | $286 |
| Trading costs (broker commissions) | $25 | $78 | $136 |
| Lost growth on money paid in costs | $0 | $12 | $42 |
| Total costs | $78 | $254 | $464 |
| Value after costs | $10,422 | $11,322 | $12,299 |
| Impact on return, per year | 0.78% | 0.78% | 0.78% |
MAADX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.2382%
- Total broker commissions: $266K
- Bought from dealers (principal trades, not a cost): $797.9M
- Portfolio turnover (prospectus): 207%
- Securities lending: none during the year
MAADX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $264K | 99.44% |
| Jefferies LLC | $1K | 0.55% |
| BNP Paribas Securities Corp. | $16 | 0.01% |
MAADX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $797.9M | 100.00% |
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.