MDOAX Fees and Costs — Developing Opportunity Portfolio, Class A
Data updated: 2026-08-21
The net expense ratio is 1.51%: a 0.90% management fee, a 0.25% 12b-1 fee plus 1.16% other expenses, less a 0.80% fee waiver. This share class carries a maximum front-end sales load of 5.25%, a deferred sales charge of up to 1.00% and a redemption fee of 2.00%. In fiscal 2025 the fund paid $59K in broker commissions, 0.1372% of average net assets, and portfolio turnover was 51%.
MDOAX Fees and Expenses
Annual operating expenses and sales charges of MDOAX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.16% |
| Gross expense ratio | 2.31% |
| Fee waiver | −0.80% |
| Net expense ratio | 1.51% |
| Sales charges | |
|---|---|
| Max front load | 5.25% |
| Max deferred load | 1.00% |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MDOAX Costs Over Time
On $10,000 invested in MDOAX, assuming 5% a year before costs, total costs come to $1,634 over 5 years, cutting the return by 2.84% 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 | $623 | $525 | $525 |
| Fund expenses (net expense ratio 1.51%) | $150 | $466 | $802 |
| Trading costs (broker commissions) | $14 | $42 | $73 |
| Lost growth on money paid in costs | $26 | $108 | $234 |
| Total costs | $813 | $1,141 | $1,634 |
| Value after costs | $9,687 | $10,435 | $11,129 |
| Impact on return, per year | 8.13% | 3.57% | 2.84% |
MDOAX 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): 0.1372%
- Total broker commissions: $59K
- Bought from dealers (principal trades, not a cost): $107.6M
- Portfolio turnover (prospectus): 51%
- Securities lending: none during the year
MDOAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital Inc. | $15K | 26.28% |
| Citigroup Global Markets Inc. | $10K | 18.63% |
| Goldman Sachs & Co. LLC | $7K | 12.19% |
| J.P. Morgan Securities LLC | $6K | 11.39% |
| BofA Securities, Inc. | $6K | 10.66% |
| UBS Securities LLC | $6K | 9.83% |
| TD Securities (USA) LLC | $2K | 3.62% |
| Jefferies LLC | $2K | 2.94% |
| RBC Capital Markets, LLC | $1K | 2.58% |
| BTG Pactual US Capital, LLC | $1K | 1.89% |
MDOAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $107.3M | 99.69% |
| Kotak Securities Limited | $336K | 0.31% |
Developing Opportunity Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MDODX | Class R6 | 1.11% | none |
| MDOEX | Class I | 1.16% | none |
| MDOAX | Class A | 1.51% | 5.25% |
| MDOBX | Class C | 2.26% | 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.