MIIIX Fees and Costs — Praxis Impact Bond Fund, Class I
Data updated: 2026-08-31
The net expense ratio is 0.45%: a 0.34% management fee plus 0.11% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 8%.
MIIIX Fees and Expenses
Annual operating expenses and sales charges of MIIIX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.34% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.11% |
| Gross expense ratio | 0.45% |
| Fee waiver | — |
| Net expense ratio | 0.45% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
MIIIX Costs Over Time
On $10,000 invested in MIIIX, assuming 5% a year before costs, total costs come to $285 over 5 years, cutting the return by 0.47% 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 0.45%) | $47 | $148 | $259 |
| Lost growth on money paid in costs | $0 | $7 | $26 |
| Total costs | $47 | $156 | $285 |
| Value after costs | $10,453 | $11,421 | $12,478 |
| Impact on return, per year | 0.47% | 0.47% | 0.47% |
MIIIX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $208.4M
- Portfolio turnover (prospectus): 8%
- Securities on loan, average value: $13.6M
- Net income from securities lending: $39K (0.004% of average net assets)
MIIIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES LLC | $71.1M | 30.95% |
| MORGAN STANLEY AND CO LLC | $54.8M | 23.84% |
| GOLDMAN SACHS AND CO | $27.1M | 11.78% |
| BOFA SECURITIES, INC. | $24.6M | 10.70% |
| RBC CAPITAL MARKETS LLC | $14.2M | 6.16% |
| TD SECURITIES (USA) LLC | $13.9M | 6.06% |
| SANTANDER INVESTMENT SECURITIES, INC. | $8.8M | 3.84% |
| INSPEREX | $6.0M | 2.59% |
| J P MORGAN SECURITIES LLC | $5.1M | 2.22% |
| RBS SECURITIES | $4.3M | 1.86% |
Praxis Impact Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MIIIX | Class I | 0.45% | none |
| MIIAX | Class A | 0.78% | 3.75% |
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.