MSYLX Fees and Costs — High Yield Portfolio, Class L
Data updated: 2026-02-26
The net expense ratio is 1.25%: a 0.60% management fee, a 0.50% 12b-1 fee plus 1.86% other expenses, less a 1.71% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 80%.
MSYLX Fees and Expenses
Annual operating expenses and sales charges of MSYLX. Prospectus, as of January 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.50% |
| Other expenses | 1.86% |
| Gross expense ratio | 2.96% |
| Fee waiver | −1.71% |
| Net expense ratio | 1.25% |
| 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 |
MSYLX Costs Over Time
On $10,000 invested in MSYLX, assuming 5% a year before costs, total costs come to $778 over 5 years, cutting the return by 1.31% 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 1.25%) | $131 | $408 | $706 |
| Lost growth on money paid in costs | $0 | $20 | $72 |
| Total costs | $131 | $429 | $778 |
| Value after costs | $10,369 | $11,148 | $11,985 |
| Impact on return, per year | 1.31% | 1.31% | 1.31% |
MSYLX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $167.6M
- Portfolio turnover (prospectus): 80%
- Securities lending: none during the year
MSYLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $84.8M | 55.94% |
| Goldman Sachs & Co. LLC | $13.3M | 8.75% |
| J.P. Morgan Securities LLC | $11.0M | 7.25% |
| BofA Securities, Inc. | $9.2M | 6.05% |
| Jane Street Execution Services, LLC | $8.8M | 5.77% |
| Barclays Capital Inc. | $6.6M | 4.38% |
| Citigroup Global Markets Inc. | $5.3M | 3.48% |
| Jefferies LLC | $4.8M | 3.19% |
| Stifel, Nicolaus & Company, Incorporated | $4.6M | 3.05% |
| Wells Fargo Securities, LLC | $3.3M | 2.14% |
High Yield Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MRHYX | Class IR | 0.62% | — |
| MSHYX | Class R6 | 0.62% | none |
| MSYIX | Class I | 0.65% | none |
| MSYPX | Class A | 1.00% | 3.25% |
| MSYLX | Class L | 1.25% | none |
| MSHDX | Class C | 1.75% | 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.