MUIIX Fees and Costs — Ultra Short Income Portfolio, Institutional Class Shares
Data updated: 2026-08-21
The net expense ratio is 0.30%: a 0.20% management fee, a 0.05% 12b-1 fee plus 0.10% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 0%.
MUIIX Fees and Expenses
Annual operating expenses and sales charges of MUIIX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | 0.05% |
| Other expenses | 0.10% |
| Gross expense ratio | 0.35% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.30% |
| 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 |
MUIIX Costs Over Time
On $10,000 invested in MUIIX, assuming 5% a year before costs, total costs come to $190 over 5 years, cutting the return by 0.31% 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 0.30%) | $32 | $99 | $173 |
| Lost growth on money paid in costs | $0 | $5 | $17 |
| Total costs | $32 | $104 | $190 |
| Value after costs | $10,468 | $11,472 | $12,573 |
| Impact on return, per year | 0.31% | 0.31% | 0.31% |
MUIIX 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): $452.5B
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
MUIIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Scotia Capital (USA) Inc. | $97.5B | 23.47% |
| BNP Paribas Securities Corp. | $75.7B | 18.22% |
| MUFG Securities Americas Inc. | $75.6B | 18.19% |
| TD Securities (USA) LLC | $65.4B | 15.73% |
| SG Americas Securities, LLC | $39.8B | 9.58% |
| Barclays Capital Inc. | $22.8B | 5.48% |
| Prudential Global Funding LLC | $10.3B | 2.47% |
| J.P. Morgan Securities LLC | $9.6B | 2.31% |
| Mizuho Securities USA LLC | $9.6B | 2.31% |
| RBC Capital Markets, LLC | $9.3B | 2.24% |
Ultra Short Income Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MULSX | Class IR | 0.25% | — |
| MUIIX | Institutional Class Shares | 0.30% | — |
| MUAIX | Class A | 0.40% | — |
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.