MUSDX Fees and Costs — U.s. Real Estate Portfolio, Class A
Data updated: 2024-11-27
The net expense ratio is 1.05%: a 0.55% management fee, a 0.25% 12b-1 fee plus 1.26% other expenses, less a 1.01% fee waiver. This share class carries a maximum front-end sales load of 5.25%. In fiscal 2023 the fund paid $19K in broker commissions, 0.0617% of average net assets, and portfolio turnover was 53%.
MUSDX Fees and Expenses
Annual operating expenses and sales charges of MUSDX. Prospectus, as of April 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.26% |
| Gross expense ratio | 2.06% |
| Fee waiver | −1.01% |
| Net expense ratio | 1.05% |
| Sales charges | |
|---|---|
| Max front load | 5.25% |
| 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 |
MUSDX Costs Over Time
On $10,000 invested in MUSDX, assuming 5% a year before costs, total costs come to $1,327 over 5 years, cutting the return by 2.28% 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 | $525 | $525 | $525 |
| Fund expenses (net expense ratio 1.05%) | $104 | $326 | $564 |
| Trading costs (broker commissions) | $6 | $19 | $33 |
| Lost growth on money paid in costs | $26 | $100 | $205 |
| Total costs | $662 | $970 | $1,327 |
| Value after costs | $9,838 | $10,607 | $11,435 |
| Impact on return, per year | 6.62% | 3.02% | 2.28% |
MUSDX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0617%
- Total broker commissions: $19K
- Bought from dealers (principal trades, not a cost): $11.6M
- Portfolio turnover (prospectus): 53%
- Securities on loan, average value: $48K
- Net income from securities lending: $24 (0.000% of average net assets)
MUSDX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $6K | 33.32% |
| Barclays Capital Inc. | $3K | 16.06% |
| BofA Securities, Inc. | $2K | 12.86% |
| Cantor Fitzgerald & Co. | $2K | 8.93% |
| Goldman Sachs & Co. LLC | $2K | 8.85% |
| Evercore Group L.L.C. | $1K | 7.39% |
| RBC Capital Markets, LLC | $701 | 4.10% |
| Liquidnet, Inc. | $630 | 3.68% |
| HSBC Securities (USA) Inc. | $439 | 2.57% |
| J.P. Morgan Securities LLC | $384 | 2.24% |
MUSDX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $11.6M | 100.00% |
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.