MFXAX Fees and Costs — Core Plus Fixed Income Portfolio, Class A
Data updated: 2024-02-28
The net expense ratio is 0.77%: a 0.38% management fee, a 0.25% 12b-1 fee plus 0.29% other expenses, less a 0.15% fee waiver. This share class carries a maximum front-end sales load of 3.25%. In fiscal 2023 the fund paid $36K in broker commissions, 0.0062% of average net assets, and portfolio turnover was 431%.
MFXAX Fees and Expenses
Annual operating expenses and sales charges of MFXAX. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.38% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.29% |
| Gross expense ratio | 0.92% |
| Fee waiver | −0.15% |
| Net expense ratio | 0.77% |
| Sales charges | |
|---|---|
| Max front load | 3.25% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MFXAX Costs Over Time
On $10,000 invested in MFXAX, assuming 5% a year before costs, total costs come to $887 over 5 years, cutting the return by 1.50% 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 | $325 | $325 | $325 |
| Fund expenses (net expense ratio 0.77%) | $78 | $245 | $425 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $16 | $63 | $133 |
| Total costs | $420 | $635 | $887 |
| Value after costs | $10,080 | $10,941 | $11,876 |
| Impact on return, per year | 4.20% | 1.96% | 1.50% |
MFXAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0062%
- Total broker commissions: $36K
- Bought from dealers (principal trades, not a cost): $5.8B
- Portfolio turnover (prospectus): 431%
- Securities on loan, average value: $8.6M
- Net income from securities lending: $88K (0.015% of average net assets)
MFXAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $36K | 100.00% |
MFXAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities, LLC | $1.5B | 26.56% |
| Goldman Sachs & Co. LLC | $887.3M | 15.63% |
| Citigroup Global Markets Inc. | $795.6M | 14.02% |
| BNP Paribas Securities Corp. | $791.2M | 13.94% |
| BofA Securities, Inc. | $707.1M | 12.46% |
| State Street Bank and Trust Company | $668.8M | 11.78% |
| Barclays Capital Inc. | $122.5M | 2.16% |
| J.P. Morgan Securities LLC | $117.4M | 2.07% |
| BMO Capital Markets Corp. | $51.6M | 0.91% |
| Scotia Capital (USA) Inc. | $27.6M | 0.49% |
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.