MNERX Fees and Costs — NYLI Conservative ETF Allocation Fund, Class R3
Data updated: 2026-09-23
The net expense ratio is 1.25% (1.27% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $26K in broker commissions, 0.0476% of average net assets, and portfolio turnover was 55%.
MNERX Fees and Expenses
Annual operating expenses and sales charges of MNERX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | 0.50% |
| Other expenses | 0.47% |
| Gross expense ratio | 1.27% |
| Fee waiver | −0.02% |
| Net expense ratio | 1.25% |
| 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 | Yes |
| Waived fees subject to recoupment | No |
MNERX Costs Over Time
On $10,000 invested in MNERX, assuming 5% a year before costs, total costs come to $807 over 5 years, cutting the return by 1.36% 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 1.25%) | $131 | $408 | $706 |
| Trading costs (broker commissions) | $5 | $16 | $27 |
| Lost growth on money paid in costs | $0 | $21 | $74 |
| Total costs | $136 | $445 | $807 |
| Value after costs | $10,364 | $11,131 | $11,956 |
| Impact on return, per year | 1.36% | 1.36% | 1.36% |
MNERX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0476%
- Total broker commissions: $26K
- Bought from dealers (principal trades, not a cost): $52.2M
- Portfolio turnover (prospectus): 55%
- Securities on loan, average value: $4.7M
- Net income from securities lending: $55K (0.098% of average net assets)
MNERX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Virtu Americas LLC | $15K | 56.13% |
| Citadel Securities LLC | $12K | 43.87% |
MNERX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $27.7M | 52.95% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $6.2M | 11.87% |
| BofA Securities, Inc. | $5.6M | 10.68% |
| Jane Street Execution Services, LLC | $4.9M | 9.31% |
| Citadel Securities LLC | $4.3M | 8.28% |
| Virtu Americas LLC | $2.2M | 4.14% |
| Susquehanna Financial Group, LLLP | $1.4M | 2.77% |
NYLI Conservative ETF Allocation Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MNELX | Class I | 0.65% | none |
| MNEAX | Class A | 0.90% | 3.00% |
| MNEVX | SIMPLE Class | 1.15% | none |
| MNERX | Class R3 | 1.25% | none |
| MNEKX | Class C | 1.65% | none |
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.