MTSIX Fees and Costs — BNY Mellon Tax-Sensitive Large Cap Multi-Strategy Fund, Investor Shares
Data updated: 2022-11-01
The net expense ratio is 1.09%. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $32K in broker commissions, 0.0120% of average net assets, and portfolio turnover was 13%.
MTSIX Fees and Expenses
Annual operating expenses and sales charges of MTSIX. Prospectus, as of August 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | — |
| Other expenses | 0.36% |
| Gross expense ratio | 1.09% |
| Fee waiver | — |
| Net expense ratio | 1.09% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
MTSIX Costs Over Time
On $10,000 invested in MTSIX, assuming 5% a year before costs, total costs come to $688 over 5 years, cutting the return by 1.16% 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 1.09%) | $114 | $357 | $618 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $116 | $379 | $688 |
| Value after costs | $10,384 | $11,198 | $12,075 |
| Impact on return, per year | 1.16% | 1.16% | 1.16% |
MTSIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0120%
- Total broker commissions: $32K
- Bought from dealers (principal trades, not a cost): $233.3M
- Portfolio turnover (prospectus): 13%
- Securities on loan, average value: $1.7M
- Net income from securities lending: $2K (0.001% of average net assets)
MTSIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $24K | 73.53% |
| COWEN AND COMPANY | $3K | 9.12% |
| STRATEGAS SECURITIES, LLC DBA STRATEGAS RESEARCH PARTNERS | $2K | 5.23% |
| UBS SECURITIES LLC | $2K | 4.76% |
| CREDIT SUISSE SECURITIES (USA) LLC | $1K | 3.77% |
| EVERCORE GROUP L.L.C. | $532 | 1.65% |
| PIPER JAFFRAY & CO. | $339 | 1.05% |
| RBC CAPITAL MARKETS, LLC | $287 | 0.89% |
| BAY CREST PARTNERS, LLC | $1 | 0.00% |
MTSIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $169.5M | 72.67% |
| COWEN AND COMPANY | $16.7M | 7.15% |
| STRATEGAS SECURITIES, LLC DBA STRATEGAS RESEARCH PARTNERS | $13.9M | 5.97% |
| UBS SECURITIES LLC | $12.8M | 5.49% |
| CREDIT SUISSE SECURITIES (USA) LLC | $10.2M | 4.35% |
| EVERCORE GROUP L.L.C. | $4.2M | 1.81% |
| RBC CAPITAL MARKETS, LLC | $3.3M | 1.41% |
| PIPER JAFFRAY & CO. | $2.7M | 1.15% |
| BAY CREST PARTNERS, LLC | $8K | 0.00% |
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.