MABOX Fees and Costs — Bond Fund, Class
Data updated: 2020-11-24
The net expense ratio is 0.45%: a 0.45% management fee plus 1.37% other expenses, less a 1.37% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 13%.
MABOX Fees and Expenses
Annual operating expenses and sales charges of MABOX. Prospectus, as of April 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | — |
| Other expenses | 1.37% |
| Gross expense ratio | 1.82% |
| Fee waiver | −1.37% |
| Net expense ratio | 0.45% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MABOX Costs Over Time
On $10,000 invested in MABOX, assuming 5% a year before costs, total costs come to $285 over 5 years, cutting the return by 0.47% 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 0.45%) | $47 | $148 | $259 |
| Lost growth on money paid in costs | $0 | $7 | $26 |
| Total costs | $47 | $156 | $285 |
| Value after costs | $10,453 | $11,421 | $12,478 |
| Impact on return, per year | 0.47% | 0.47% | 0.47% |
MABOX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $30.8M
- Portfolio turnover (prospectus): 13%
- Securities lending: none during the year
MABOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $11.7M | 38.10% |
| BNY MELLON CAPITAL MARKETS, LLC | $5.8M | 18.79% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $4.8M | 15.62% |
| Goldman Sachs & Co, LLC | $3.7M | 12.03% |
| Wells Fargo Securities LLC | $3.2M | 10.39% |
| STEPHENS INC | $558K | 1.82% |
| MORGAN STANLEY & CO. LLC | $392K | 1.28% |
| FTN FINANCIAL SECURITIES | $332K | 1.08% |
| BAIRD, PATRICK & COMPANY | $172K | 0.56% |
| JANNEY MONTGOMERY SCOTT LLC | $102K | 0.33% |
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.