MAPLX Fees and Costs — Advantage Portfolio, Class L
Data updated: 2026-08-21
The net expense ratio is 0.99%: a 0.65% management fee, a 0.75% 12b-1 fee plus 0.52% other expenses, less a 0.93% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $52K in broker commissions, 0.0242% of average net assets, and portfolio turnover was 61%.
MAPLX Fees and Expenses
Annual operating expenses and sales charges of MAPLX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.75% |
| Other expenses | 0.52% |
| Gross expense ratio | 1.92% |
| Fee waiver | −0.93% |
| Net expense ratio | 0.99% |
| 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 |
MAPLX Costs Over Time
On $10,000 invested in MAPLX, assuming 5% a year before costs, total costs come to $634 over 5 years, cutting the return by 1.06% 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 0.99%) | $104 | $324 | $562 |
| Trading costs (broker commissions) | $3 | $8 | $14 |
| Lost growth on money paid in costs | $0 | $16 | $58 |
| Total costs | $106 | $349 | $634 |
| Value after costs | $10,394 | $11,228 | $12,129 |
| Impact on return, per year | 1.06% | 1.06% | 1.06% |
MAPLX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0242%
- Total broker commissions: $52K
- Bought from dealers (principal trades, not a cost): $257.4M
- Portfolio turnover (prospectus): 61%
- Securities lending: none during the year
MAPLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $7K | 19.06% |
| RBC Capital Markets, LLC | $6K | 16.22% |
| Citigroup Global Markets Inc. | $4K | 11.05% |
| BTIG, LLC | $4K | 10.53% |
| Goldman Sachs & Co. LLC | $4K | 9.97% |
| Barclays Capital Inc. | $3K | 8.44% |
| J.P. Morgan Securities LLC | $3K | 8.26% |
| SG Americas Securities, LLC | $2K | 6.13% |
| BofA Securities, Inc. | $2K | 5.44% |
| Canaccord Genuity LLC | $2K | 4.90% |
MAPLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $250.0M | 97.10% |
| Goldman Sachs & Co. LLC | $4.3M | 1.67% |
| J.P. Morgan Securities LLC | $3.2M | 1.23% |
Advantage Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MADSX | Class R6 | 0.81% | none |
| MPAIX | Class I | 0.85% | none |
| MAPLX | Class L | 0.99% | none |
| MAPPX | Class A | 1.20% | 5.25% |
| MSPRX | Class C | 1.95% | none |
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.