MSADX Fees and Costs — Strategic Income Portfolio, Class A
Data updated: 2022-02-28
The net expense ratio is 0.95%: a 0.32% management fee, a 0.25% 12b-1 fee plus 2.11% other expenses, less a 1.73% fee waiver. This share class carries a maximum front-end sales load of 3.25%. In fiscal 2021 the fund paid $399 in broker commissions, 0.0015% of average net assets, and portfolio turnover was 38%.
MSADX Fees and Expenses
Annual operating expenses and sales charges of MSADX. Prospectus, as of January 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.32% |
| 12b-1 fee | 0.25% |
| Other expenses | 2.11% |
| Gross expense ratio | 2.68% |
| Fee waiver | −1.73% |
| Net expense ratio | 0.95% |
| Sales charges | |
|---|---|
| Max front load | 3.25% |
| 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 |
MSADX Costs Over Time
On $10,000 invested in MSADX, assuming 5% a year before costs, total costs come to $991 over 5 years, cutting the return by 1.68% 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 |
| Sales charges | $325 | $325 | $325 |
| Fund expenses (net expense ratio 0.95%) | $97 | $301 | $523 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $16 | $66 | $143 |
| Total costs | $438 | $693 | $991 |
| Value after costs | $10,062 | $10,883 | $11,772 |
| Impact on return, per year | 4.38% | 2.14% | 1.68% |
MSADX 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): 0.0015%
- Total broker commissions: $399
- Bought from dealers (principal trades, not a cost): $45.8M
- Portfolio turnover (prospectus): 38%
- Securities lending: none during the year
MSADX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $399 | 100.00% |
MSADX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $17.4M | 42.25% |
| Morgan Stanley & Co. LLC | $10.9M | 26.34% |
| BofA Securities, Inc. | $3.2M | 7.82% |
| J.P. Morgan Securities LLC | $2.6M | 6.26% |
| Nomura Securities International, Inc. | $2.3M | 5.51% |
| Citigroup Global Markets Inc. | $1.6M | 3.94% |
| Goldman Sachs & Co. LLC | $1.2M | 2.93% |
| Wells Fargo Securities, LLC | $789K | 1.91% |
| RBC Capital Markets, LLC | $629K | 1.52% |
| MarketAxess Corporation | $624K | 1.51% |
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.