MSTMX Fees and Costs — Morningstar Multisector Bond Fund, Institutional Class
Data updated: 2026-09-28
The net expense ratio is 0.79%: a 0.61% management fee plus 0.39% other expenses, less a 0.21% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1K in broker commissions, 0.0008% of average net assets, and portfolio turnover was 190%.
MSTMX Fees and Expenses
Annual operating expenses and sales charges of MSTMX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.61% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.39% |
| Gross expense ratio | 1.00% |
| Fee waiver | −0.21% |
| Net expense ratio | 0.79% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
MSTMX Costs Over Time
On $10,000 invested in MSTMX, assuming 5% a year before costs, total costs come to $497 over 5 years, cutting the return by 0.83% 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 0.79%) | $83 | $259 | $451 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $13 | $45 |
| Total costs | $83 | $272 | $497 |
| Value after costs | $10,417 | $11,304 | $12,266 |
| Impact on return, per year | 0.83% | 0.83% | 0.83% |
MSTMX 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): 0.0008%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $893.3M
- Portfolio turnover (prospectus): 190%
- Securities lending: none during the year
MSTMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $1K | 79.78% |
| MORGAN STANLEY & CO. LLC | $89 | 6.23% |
| BOFA SECURITIES, INC. | $62 | 4.35% |
| GOLDMAN SACHS & CO. LLC | $59 | 4.12% |
| UBS SECURITIES LLC | $45 | 3.16% |
| CITIGROUP GLOBAL MARKETS INC. | $34 | 2.36% |
MSTMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $222.9M | 39.22% |
| J.P. MORGAN SECURITIES LLC | $68.6M | 12.08% |
| MORGAN STANLEY & CO. LLC | $61.0M | 10.74% |
| GOLDMAN SACHS & CO. LLC | $50.7M | 8.92% |
| CITIGROUP GLOBAL MARKETS INC. | $44.8M | 7.87% |
| BOFA SECURITIES, INC. | $27.0M | 4.76% |
| WELLS FARGO SECURITIES, LLC | $26.4M | 4.65% |
| BARCLAYS CAPITAL INC. | $26.2M | 4.61% |
| DEUTSCHE BANK SECURITIES INC. | $20.5M | 3.60% |
| BANK OF AMERICA CORPORATION | $20.3M | 3.56% |
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.