MBNAX Fees and Costs — NYLI Balanced Fund, Class A
Data updated: 2026-09-23
The net expense ratio is 1.05%: a 0.65% management fee, a 0.25% 12b-1 fee plus 0.16% other expenses, less a 0.02% fee waiver. This share class carries a maximum front-end sales load of 3.00%. In fiscal 2025 the fund paid $63K in broker commissions, 0.0142% of average net assets, and portfolio turnover was 201%.
MBNAX Fees and Expenses
Annual operating expenses and sales charges of MBNAX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.16% |
| Gross expense ratio | 1.07% |
| Fee waiver | −0.02% |
| Net expense ratio | 1.05% |
| Sales charges | |
|---|---|
| Max front load | 3.00% |
| 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 |
MBNAX Costs Over Time
On $10,000 invested in MBNAX, assuming 5% a year before costs, total costs come to $1,028 over 5 years, cutting the return by 1.75% 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 |
| Sales charges | $300 | $300 | $300 |
| Fund expenses (net expense ratio 1.05%) | $107 | $333 | $578 |
| Trading costs (broker commissions) | $1 | $5 | $8 |
| Lost growth on money paid in costs | $15 | $64 | $142 |
| Total costs | $423 | $702 | $1,028 |
| Value after costs | $10,077 | $10,874 | $11,735 |
| Impact on return, per year | 4.23% | 2.17% | 1.75% |
MBNAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0142%
- Total broker commissions: $63K
- Bought from dealers (principal trades, not a cost): $1.6B
- Portfolio turnover (prospectus): 201%
- Securities on loan, average value: $4.4M
- Net income from securities lending: $44K (0.010% of average net assets)
MBNAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $14K | 27.04% |
| BofA Securities, Inc. | $8K | 15.01% |
| Morgan Stanley & Co. LLC | $5K | 10.75% |
| Goldman Sachs & Co. LLC | $4K | 7.93% |
| RBC Capital Markets, LLC | $4K | 7.68% |
| BTIG, LLC | $4K | 7.44% |
| J.P. Morgan Securities LLC | $4K | 7.29% |
| Jefferies LLC | $3K | 6.56% |
| TD SECURITIES (USA) LLC | $3K | 5.40% |
| Virtu Americas LLC | $2K | 4.91% |
MBNAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Citadel Securities LLC | $431.7M | 28.06% |
| Wells Fargo Securities, LLC | $268.1M | 17.43% |
| J.P. Morgan Securities LLC | $241.6M | 15.70% |
| BMO Capital Markets Corp. | $168.9M | 10.97% |
| Nomura Securities International, Inc. | $97.9M | 6.36% |
| Pershing LLC | $92.7M | 6.03% |
| BofA Securities, Inc. | $79.8M | 5.18% |
| Citigroup Global Markets Inc. | $64.3M | 4.18% |
| Goldman Sachs & Co. LLC | $61.4M | 3.99% |
| Virtu Americas LLC | $32.2M | 2.10% |
NYLI Balanced Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MBERX | Class R6 | 0.73% | none |
| MBAIX | Class I | 0.82% | none |
| MBNAX | Class A | 1.05% | 3.00% |
| MBINX | Investor Class | 1.33% | 2.50% |
| MBACX | Class C | 2.08% | none |
| MBNBX | Class B | 2.08% | 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.