MUAMX Fees and Costs — Short Duration Municipal Income Portfolio, Class A
Data updated: 2024-02-28
The net expense ratio is 0.35%: a 0.20% management fee, a 0.20% 12b-1 fee plus 0.23% other expenses, less a 0.28% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 0%.
MUAMX Fees and Expenses
Annual operating expenses and sales charges of MUAMX. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | 0.20% |
| Other expenses | 0.23% |
| Gross expense ratio | 0.63% |
| Fee waiver | −0.28% |
| Net expense ratio | 0.35% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MUAMX Costs Over Time
On $10,000 invested in MUAMX, assuming 5% a year before costs, total costs come to $222 over 5 years, cutting the return by 0.37% 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 0.35%) | $37 | $115 | $202 |
| Lost growth on money paid in costs | $0 | $6 | $20 |
| Total costs | $37 | $121 | $222 |
| Value after costs | $10,463 | $11,455 | $12,541 |
| Impact on return, per year | 0.37% | 0.37% | 0.37% |
MUAMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $1.4B
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
MUAMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $390.6M | 29.79% |
| Goldman Sachs & Co. LLC | $228.3M | 17.41% |
| BofA Securities, Inc. | $174.7M | 13.32% |
| TD Securities (USA) LLC | $103.7M | 7.91% |
| U.S. Bancorp Investments, Inc. | $94.3M | 7.19% |
| State Street Bank and Trust Company | $80.3M | 6.13% |
| Barclays Capital Inc. | $70.8M | 5.40% |
| Wells Fargo Securities, LLC | $67.7M | 5.16% |
| RBC Capital Markets, LLC | $64.0M | 4.88% |
| Citigroup Global Markets Inc. | $36.9M | 2.82% |
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.