MSHLX Fees and Costs — Growth Portfolio, Class L
Data updated: 2026-08-21
The net expense ratio is 1.40%: a 0.42% management fee, a 0.75% 12b-1 fee plus 0.23% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.7M in broker commissions, 0.0387% of average net assets, and portfolio turnover was 53%.
MSHLX Fees and Expenses
Annual operating expenses and sales charges of MSHLX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.42% |
| 12b-1 fee | 0.75% |
| Other expenses | 0.23% |
| Gross expense ratio | 1.40% |
| Fee waiver | — |
| Net expense ratio | 1.40% |
| 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 |
MSHLX Costs Over Time
On $10,000 invested in MSHLX, assuming 5% a year before costs, total costs come to $892 over 5 years, cutting the return by 1.51% 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 1.40%) | $147 | $457 | $788 |
| Trading costs (broker commissions) | $4 | $13 | $22 |
| Lost growth on money paid in costs | $0 | $23 | $82 |
| Total costs | $151 | $492 | $892 |
| Value after costs | $10,349 | $11,084 | $11,871 |
| Impact on return, per year | 1.51% | 1.51% | 1.51% |
MSHLX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0387%
- Total broker commissions: $1.7M
- Bought from dealers (principal trades, not a cost): $3.8B
- Portfolio turnover (prospectus): 53%
- Securities on loan, average value: $632K
- Net income from securities lending: $19K (0.000% of average net assets)
MSHLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets, LLC | $326K | 25.57% |
| J.P. Morgan Securities LLC | $205K | 16.09% |
| Jefferies LLC | $186K | 14.59% |
| Goldman Sachs & Co. LLC | $147K | 11.48% |
| BofA Securities, Inc. | $102K | 7.97% |
| BTIG, LLC | $92K | 7.21% |
| Virtu Americas LLC | $65K | 5.08% |
| Canaccord Genuity LLC | $55K | 4.33% |
| Stifel, Nicolaus & Company, Incorporated | $55K | 4.29% |
| TD Securities (USA) LLC | $43K | 3.38% |
MSHLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $3.6B | 93.53% |
| Goldman Sachs & Co. LLC | $178.4M | 4.67% |
| J.P. Morgan Securities LLC | $68.8M | 1.80% |
Growth Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MGRPX | Class R6 | 0.53% | none |
| MSEQX | Class I | 0.63% | none |
| MGHRX | Class IR | 0.73% | — |
| MSEGX | Class A | 0.89% | 5.25% |
| MSHLX | Class L | 1.40% | none |
| MSGUX | Class C | 1.64% | 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.