MKRZX Fees and Costs — MM MSCI EAFE International Index Fund, Class I
Data updated: 2022-05-27
The net expense ratio is 0.31%: a 0.10% management fee plus 0.21% other expenses. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $144K in broker commissions, 0.0682% of average net assets, and portfolio turnover was 5%.
MKRZX Fees and Expenses
Annual operating expenses and sales charges of MKRZX. Prospectus, as of September 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.10% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.21% |
| Gross expense ratio | 0.31% |
| Fee waiver | — |
| Net expense ratio | 0.31% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
MKRZX Costs Over Time
On $10,000 invested in MKRZX, assuming 5% a year before costs, total costs come to $240 over 5 years, cutting the return by 0.40% 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 0.31%) | $33 | $102 | $178 |
| Trading costs (broker commissions) | $7 | $22 | $39 |
| Lost growth on money paid in costs | $0 | $6 | $22 |
| Total costs | $40 | $131 | $240 |
| Value after costs | $10,460 | $11,445 | $12,523 |
| Impact on return, per year | 0.40% | 0.40% | 0.40% |
MKRZX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0682%
- Total broker commissions: $144K
- Bought from dealers (principal trades, not a cost): $282.7M
- Portfolio turnover (prospectus): 5%
- Securities on loan, average value: $4.4M
- Net income from securities lending: $43K (0.020% of average net assets)
MKRZX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. | $20K | 21.45% |
| Morgan Stanley & Co. LLC | $11K | 12.16% |
| Capital Institutional Services, Inc. | $11K | 12.02% |
| JPMorgan Chase & Co. | $11K | 11.89% |
| Bank of America Merrill Lynch | $10K | 10.53% |
| Citigroup Inc. | $8K | 8.50% |
| UBS Group AG | $7K | 7.79% |
| Credit Suisse Group AG | $7K | 7.68% |
| Liquidnet, Inc. | $4K | 4.26% |
| Barclays Bank | $3K | 3.71% |
MKRZX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $281.9M | 99.72% |
| Tender Offer | $796K | 0.28% |
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.