MCJTX Fees and Costs — MM Russell 2000 Small Cap Index Fund, Class R3
Data updated: 2022-05-27
The net expense ratio is 0.97%: a 0.10% management fee, a 0.50% 12b-1 fee plus 0.37% other expenses. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $417K in broker commissions, 0.1292% of average net assets, and portfolio turnover was 23%.
MCJTX Fees and Expenses
Annual operating expenses and sales charges of MCJTX. Prospectus, as of September 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.10% |
| 12b-1 fee | 0.50% |
| Other expenses | 0.37% |
| Gross expense ratio | 0.97% |
| Fee waiver | — |
| Net expense ratio | 0.97% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
MCJTX Costs Over Time
On $10,000 invested in MCJTX, assuming 5% a year before costs, total costs come to $686 over 5 years, cutting the return by 1.15% 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 0.97%) | $102 | $317 | $550 |
| Trading costs (broker commissions) | $14 | $42 | $73 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $115 | $378 | $686 |
| Value after costs | $10,385 | $11,199 | $12,077 |
| Impact on return, per year | 1.15% | 1.15% | 1.15% |
MCJTX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.1292%
- Total broker commissions: $417K
- Bought from dealers (principal trades, not a cost): $509.7M
- Portfolio turnover (prospectus): 23%
- Securities on loan, average value: $25.2M
- Net income from securities lending: $199K (0.062% of average net assets)
MCJTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. | $69K | 22.76% |
| Morgan Stanley & Co. LLC | $45K | 14.66% |
| Liquidnet, Inc. | $37K | 11.98% |
| JPMorgan Chase & Co. | $26K | 8.56% |
| Bank of America Merrill Lynch | $25K | 8.29% |
| Credit Suisse Group AG | $24K | 7.94% |
| Instinet, LLC | $24K | 7.74% |
| Capital Institutional Services, Inc. | $20K | 6.59% |
| Barclays Bank | $19K | 6.24% |
| UBS Group AG | $16K | 5.25% |
MCJTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $507.0M | 99.46% |
| JPMorgan Chase & Co. | $2.3M | 0.45% |
| Tender Offer | $422K | 0.08% |
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.