MSJAX Fees and Costs — Global Endurance Portfolio, Class A
Data updated: 2026-08-21
The net expense ratio is 1.35%: a 0.80% management fee, a 0.25% 12b-1 fee plus 1.33% other expenses, less a 1.03% fee waiver. This share class carries a maximum front-end sales load of 5.25% and a deferred sales charge of up to 1.00%. In fiscal 2025 the fund paid $41K in broker commissions, 0.1370% of average net assets, and portfolio turnover was 176%.
MSJAX Fees and Expenses
Annual operating expenses and sales charges of MSJAX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.33% |
| Gross expense ratio | 2.38% |
| Fee waiver | −1.03% |
| Net expense ratio | 1.35% |
| Sales charges | |
|---|---|
| Max front load | 5.25% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MSJAX Costs Over Time
On $10,000 invested in MSJAX, assuming 5% a year before costs, total costs come to $1,543 over 5 years, cutting the return by 2.67% 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 | $623 | $525 | $525 |
| Fund expenses (net expense ratio 1.35%) | $134 | $417 | $719 |
| Trading costs (broker commissions) | $14 | $42 | $73 |
| Lost growth on money paid in costs | $26 | $106 | $225 |
| Total costs | $797 | $1,090 | $1,543 |
| Value after costs | $9,703 | $10,486 | $11,220 |
| Impact on return, per year | 7.97% | 3.40% | 2.67% |
MSJAX 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): 0.1370%
- Total broker commissions: $41K
- Bought from dealers (principal trades, not a cost): $66.0M
- Portfolio turnover (prospectus): 176%
- Securities on loan, average value: $392K
- Net income from securities lending: $57K (0.193% of average net assets)
MSJAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets, LLC | $11K | 30.80% |
| Jefferies LLC | $8K | 22.52% |
| Penserra Securities LLC | $5K | 14.02% |
| BofA Securities, Inc. | $3K | 7.14% |
| Stifel, Nicolaus & Company, Incorporated | $2K | 5.89% |
| Mizuho Securities USA LLC | $2K | 5.40% |
| Virtu Americas LLC | $1K | 4.08% |
| Barclays Capital Inc. | $1K | 4.07% |
| TD Securities (USA) LLC | $1K | 3.43% |
| Citigroup Global Markets Inc. | $942 | 2.66% |
MSJAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $64.8M | 98.16% |
| Goldman Sachs & Co. LLC | $908K | 1.38% |
| Citigroup Global Markets Inc. | $155K | 0.23% |
| J.P. Morgan Securities LLC | $79K | 0.12% |
| Leerink Partners LLC | $75K | 0.11% |
Global Endurance Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MSJSX | Class R6 | 0.95% | none |
| MSJIX | Class I | 1.00% | none |
| MSJAX | Class A | 1.35% | 5.25% |
| MSJCX | Class C | 2.10% | 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.