MEPAX Fees and Costs — MassMutual Disciplined Value Fund, Class A
Data updated: 2025-02-28
The net expense ratio is 1.31%: a 0.45% management fee, a 0.25% 12b-1 fee plus 0.61% other expenses. This share class carries a maximum front-end sales load of 5.50% and a deferred sales charge of up to 1.00%. In fiscal 2024 the fund paid $11K in broker commissions, 0.0263% of average net assets, and portfolio turnover was 70%.
MEPAX Fees and Expenses
Annual operating expenses and sales charges of MEPAX. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.61% |
| Gross expense ratio | 1.31% |
| Fee waiver | — |
| Net expense ratio | 1.31% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
MEPAX Costs Over Time
On $10,000 invested in MEPAX, assuming 5% a year before costs, total costs come to $1,487 over 5 years, cutting the return by 2.57% 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 | $648 | $550 | $550 |
| Fund expenses (net expense ratio 1.31%) | $130 | $404 | $698 |
| Trading costs (broker commissions) | $3 | $8 | $14 |
| Lost growth on money paid in costs | $28 | $107 | $224 |
| Total costs | $808 | $1,069 | $1,487 |
| Value after costs | $9,692 | $10,507 | $11,276 |
| Impact on return, per year | 8.08% | 3.34% | 2.57% |
MEPAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0263%
- Total broker commissions: $11K
- Bought from dealers (principal trades, not a cost): $56.6M
- Portfolio turnover (prospectus): 70%
- Securities on loan, average value: $132K
- Net income from securities lending: $4K (0.008% of average net assets)
MEPAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. | $6K | 51.51% |
| UBS Group AG | $1K | 10.81% |
| Morgan Stanley & Co. LLC | $1K | 10.66% |
| Jefferies LLC | $929 | 8.53% |
| Bank of America Merrill Lynch | $754 | 6.93% |
| JPMorgan Chase & Co. | $623 | 5.73% |
| Cowen and Company, LLC | $191 | 1.76% |
| Barclays Bank | $173 | 1.59% |
| Royal Bank of Canada | $146 | 1.34% |
| Sanford C. Bernstein & Co., LLC | $125 | 1.15% |
MEPAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $55.5M | 98.12% |
| Bank of America Merrill Lynch | $451K | 0.80% |
| JPMorgan Chase & Co. | $310K | 0.55% |
| Morgan Stanley & Co. LLC | $154K | 0.27% |
| Royal Bank of Canada | $149K | 0.26% |
| UBS Group AG | $167 | 0.00% |
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.