MCDWX Fees and Costs — Credit Series, Class W
Data updated: 2026-08-21
The net expense ratio is 0.10%: a 0.25% management fee plus 0.12% other expenses, less a 0.27% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 43%.
MCDWX Fees and Expenses
Annual operating expenses and sales charges of MCDWX. Prospectus, as of March 13, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.12% |
| Gross expense ratio | 0.37% |
| Fee waiver | −0.27% |
| Net expense ratio | 0.10% |
| 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 | Yes |
MCDWX Costs Over Time
On $10,000 invested in MCDWX, assuming 5% a year before costs, total costs come to $64 over 5 years, cutting the return by 0.10% 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 0.10%) | $10 | $33 | $58 |
| Lost growth on money paid in costs | $0 | $2 | $6 |
| Total costs | $10 | $35 | $64 |
| Value after costs | $10,490 | $11,542 | $12,699 |
| Impact on return, per year | 0.10% | 0.10% | 0.10% |
MCDWX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $224.8M
- Portfolio turnover (prospectus): 43%
- Securities lending: none during the year
MCDWX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $29.4M | 20.54% |
| TD SECURITIES (USA) LLC | $23.0M | 16.06% |
| STONEX FINANCIAL INC. | $18.2M | 12.75% |
| J.P. Morgan Securities LLC | $14.8M | 10.33% |
| NatWest Markets Securities Inc. | $14.3M | 9.98% |
| GOLDMAN SACHS & CO. LLC | $9.9M | 6.91% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $8.9M | 6.23% |
| KEYBANC CAPITAL MARKETS, INC. | $8.8M | 6.15% |
| MORGAN STANLEY & CO. LLC | $8.1M | 5.65% |
| BARCLAYS CAPITAL, INC. | $7.7M | 5.41% |
Credit Series Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MCDWX | Class W | 0.10% | — |
| MCDIX | Class I | 0.50% | — |
| MCDSX | Class S | 0.67% | — |
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.