MELIX Fees and Costs — Emerging Markets Leaders Portfolio, Class I
Data updated: 2026-08-21
The net expense ratio is 0.99%: a 0.75% management fee plus 0.55% other expenses, less a 0.31% fee waiver. This share class carries a redemption fee of 2.00%. In fiscal 2025 the fund paid $217K in broker commissions, 0.1462% of average net assets.
MELIX Fees and Expenses
Annual operating expenses and sales charges of MELIX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.55% |
| Gross expense ratio | 1.30% |
| Fee waiver | −0.31% |
| Net expense ratio | 0.99% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| 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 |
MELIX Costs Over Time
On $10,000 invested in MELIX, assuming 5% a year before costs, total costs come to $709 over 5 years, cutting the return by 1.19% 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 | $561 |
| Trading costs (broker commissions) | $15 | $48 | $83 |
| Lost growth on money paid in costs | $0 | $18 | $65 |
| Total costs | $119 | $390 | $709 |
| Value after costs | $10,381 | $11,186 | $12,054 |
| Impact on return, per year | 1.19% | 1.19% | 1.19% |
MELIX 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): 0.1462%
- Total broker commissions: $217K
- Bought from dealers (principal trades, not a cost): $191.4M
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
MELIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $51K | 28.96% |
| Jefferies LLC | $25K | 14.34% |
| Macquarie Capital (USA) Inc. | $22K | 12.67% |
| ICICI Securities Inc. | $17K | 9.89% |
| BofA Securities, Inc. | $16K | 9.21% |
| J.P. Morgan Securities LLC | $12K | 6.87% |
| Citigroup Global Markets Inc. | $11K | 6.09% |
| Goldman Sachs & Co. LLC | $8K | 4.66% |
| Agora Corretora de Titulos e Valores Mobiliarios S.A. | $7K | 3.82% |
| BTG Pactual US Capital, LLC | $6K | 3.50% |
MELIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $191.4M | 100.00% |
Emerging Markets Leaders Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MELSX | Class R6 | 0.95% | none |
| MSIWX | Class IR | 0.95% | none |
| MELIX | Class I | 0.99% | none |
| MELAX | Class A | 1.35% | 5.25% |
| MEMLX | Class C | 2.10% | 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.