MILCX Fees and Costs — BNY Mellon Large Cap Stock Fund, Investor Shares
Data updated: 2021-07-28
The net expense ratio is 1.11%: a 0.65% management fee plus 0.46% other expenses. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $42K in broker commissions, 0.0259% of average net assets, and portfolio turnover was 47%.
MILCX Fees and Expenses
Annual operating expenses and sales charges of MILCX. Prospectus, as of March 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | — |
| Other expenses | 0.46% |
| Gross expense ratio | 1.11% |
| Fee waiver | — |
| Net expense ratio | 1.11% |
| Sales charges | |
|---|---|
| Max front load | — |
| 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 |
MILCX Costs Over Time
On $10,000 invested in MILCX, 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 1.11%) | $117 | $363 | $629 |
| Trading costs (broker commissions) | $3 | $8 | $15 |
| 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% |
MILCX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0259%
- Total broker commissions: $42K
- Bought from dealers (principal trades, not a cost): $208.2M
- Portfolio turnover (prospectus): 47%
- Securities on loan, average value: $4.7M
- Net income from securities lending: $7K (0.004% of average net assets)
MILCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $15K | 34.49% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $8K | 17.78% |
| J.P. MORGAN SECURITIES LLC | $7K | 16.03% |
| CREDIT SUISSE SECURITIES (USA) LLC | $4K | 9.79% |
| GOLDMAN SACHS & CO. LLC | $4K | 9.41% |
| BARCLAYS CAPITAL INC. | $3K | 7.62% |
| RBC CAPITAL MARKETS, LLC | $2K | 3.88% |
| CITIGROUP GLOBAL MARKETS INC. | $201 | 0.48% |
| KCG SECURITIES, LLC | $164 | 0.39% |
| HSBC SECURITIES (USA) INC. | $57 | 0.13% |
MILCX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $71.6M | 34.54% |
| J.P. MORGAN SECURITIES LLC | $32.7M | 15.79% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $23.7M | 11.44% |
| GOLDMAN SACHS & CO. LLC | $20.3M | 9.78% |
| CREDIT SUISSE SECURITIES (USA) LLC | $18.2M | 8.78% |
| BARCLAYS CAPITAL INC. | $16.5M | 7.95% |
| RBC CAPITAL MARKETS, LLC | $13.3M | 6.42% |
| CITIGROUP GLOBAL MARKETS INC. | $7.9M | 3.83% |
| HSBC SECURITIES (USA) INC. | $2.0M | 0.98% |
| KCG SECURITIES, LLC | $996K | 0.48% |
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.