MSVEX Fees and Costs — Vitality Portfolio, Class A
Data updated: 2026-05-28
The net expense ratio is 1.30%: a 0.75% management fee, a 0.25% 12b-1 fee plus 19.64% other expenses, less a 19.34% 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 $2K in broker commissions, 0.0841% of average net assets, and portfolio turnover was 27%.
MSVEX Fees and Expenses
Annual operating expenses and sales charges of MSVEX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 19.64% |
| Gross expense ratio | 20.64% |
| Fee waiver | −19.34% |
| Net expense ratio | 1.30% |
| 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 |
MSVEX Costs Over Time
On $10,000 invested in MSVEX, assuming 5% a year before costs, total costs come to $1,484 over 5 years, cutting the return by 2.56% 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 1.30%) | $129 | $402 | $694 |
| Trading costs (broker commissions) | $8 | $26 | $45 |
| Lost growth on money paid in costs | $26 | $104 | $220 |
| Total costs | $787 | $1,057 | $1,484 |
| Value after costs | $9,713 | $10,519 | $11,279 |
| Impact on return, per year | 7.87% | 3.30% | 2.56% |
MSVEX 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): 0.0841%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $1.0M
- Portfolio turnover (prospectus): 27%
- Securities on loan, average value: $99K
- Net income from securities lending: $1K (0.049% of average net assets)
MSVEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $1K | 70.75% |
| Penserra Securities LLC | $344 | 20.21% |
| RBC Capital Markets, LLC | $64 | 3.77% |
| J.P. Morgan Securities LLC | $60 | 3.54% |
| UBS Securities LLC | $18 | 1.07% |
| BofA Securities, Inc. | $11 | 0.67% |
MSVEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.0M | 100.00% |
Vitality Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MSVOX | Class R6 | 0.90% | none |
| MSVDX | Class I | 0.95% | none |
| MSVEX | Class A | 1.30% | 5.25% |
| MSVMX | Class C | 2.05% | 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.