MJIIX Fees and Costs — Core Plus Fixed Income Portfolio, Class II
Data updated: 2023-08-25
The net expense ratio is 0.90%: a 0.38% management fee, a 0.25% 12b-1 fee plus 0.60% other expenses, less a 0.33% fee waiver. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $5K in broker commissions, 0.0053% of average net assets, and portfolio turnover was 272%.
MJIIX Fees and Expenses
Annual operating expenses and sales charges of MJIIX. Prospectus, as of April 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.38% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.60% |
| Gross expense ratio | 1.23% |
| Fee waiver | −0.33% |
| Net expense ratio | 0.90% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MJIIX Costs Over Time
On $10,000 invested in MJIIX, assuming 5% a year before costs, total costs come to $567 over 5 years, cutting the return by 0.95% 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 0.90%) | $94 | $295 | $512 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $95 | $312 | $567 |
| Value after costs | $10,405 | $11,265 | $12,195 |
| Impact on return, per year | 0.95% | 0.95% | 0.95% |
MJIIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0053%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $640.1M
- Portfolio turnover (prospectus): 272%
- Securities on loan, average value: $1.1M
- Net income from securities lending: $8K (0.009% of average net assets)
MJIIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $5K | 100.00% |
MJIIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $138.7M | 22.60% |
| Wells Fargo Securities, LLC | $109.6M | 17.86% |
| Goldman Sachs & Co. LLC | $100.1M | 16.32% |
| BofA Securities, Inc. | $75.4M | 12.29% |
| Citigroup Global Markets Inc. | $69.2M | 11.28% |
| BNP Paribas Securities Corp. | $50.4M | 8.22% |
| Barclays Capital Inc. | $42.6M | 6.95% |
| Euroclear Bank | $17.1M | 2.78% |
| J.P. Morgan Securities LLC | $6.8M | 1.11% |
| BMO Capital Markets Corp. | $3.6M | 0.59% |
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.