MFLLX Fees and Costs — Inception Portfolio, Class R6
Data updated: 2026-08-21
The net expense ratio is 0.93%: a 0.92% management fee plus 0.20% other expenses, less a 0.19% fee waiver. This share class carries a redemption fee of 2.00%. In fiscal 2025 the fund paid $559K in broker commissions, 0.1565% of average net assets, and portfolio turnover was 97%.
MFLLX Fees and Expenses
Annual operating expenses and sales charges of MFLLX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.92% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.20% |
| Gross expense ratio | 1.12% |
| Fee waiver | −0.19% |
| Net expense ratio | 0.93% |
| 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 |
MFLLX Costs Over Time
On $10,000 invested in MFLLX, assuming 5% a year before costs, total costs come to $678 over 5 years, cutting the return by 1.14% 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 0.93%) | $98 | $304 | $527 |
| Trading costs (broker commissions) | $16 | $51 | $89 |
| Lost growth on money paid in costs | $0 | $18 | $62 |
| Total costs | $114 | $373 | $678 |
| Value after costs | $10,386 | $11,203 | $12,084 |
| Impact on return, per year | 1.14% | 1.14% | 1.14% |
MFLLX 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): 0.1565%
- Total broker commissions: $559K
- Bought from dealers (principal trades, not a cost): $517.8M
- Portfolio turnover (prospectus): 97%
- Securities on loan, average value: $13.1M
- Net income from securities lending: $535K (0.150% of average net assets)
MFLLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Mizuho Securities USA LLC | $92K | 22.58% |
| RBC Capital Markets, LLC | $75K | 18.62% |
| Jefferies LLC | $53K | 13.02% |
| J.P. Morgan Securities LLC | $36K | 8.97% |
| Stifel, Nicolaus & Company, Incorporated | $32K | 7.88% |
| TD Securities (USA) LLC | $26K | 6.38% |
| Barclays Capital Inc. | $26K | 6.37% |
| BMO Capital Markets Corp. | $22K | 5.47% |
| UBS Securities LLC | $22K | 5.38% |
| BofA Securities, Inc. | $22K | 5.32% |
MFLLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $493.0M | 95.20% |
| J.P. Morgan Securities LLC | $12.7M | 2.46% |
| Stifel, Nicolaus & Company, Incorporated | $6.9M | 1.34% |
| Goldman Sachs & Co. LLC | $4.4M | 0.85% |
| Leerink Partners LLC | $793K | 0.15% |
Inception Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MFLLX | Class R6 | 0.93% | none |
| MSSGX | Class I | 1.00% | none |
| MSSMX | Class A | 1.35% | 5.25% |
| MSSLX | Class L | 1.85% | none |
| MSCOX | 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.