NMTRX Fees and Costs — Municipal Total Return Managed Accounts Portfolio, Common Shares
Data updated: 2026-10-14
The net expense ratio is 0.01% (0.05% before fee waivers). There are no sales loads or redemption fees. Portfolio turnover was 48%.
NMTRX Fees and Expenses
Annual operating expenses and sales charges of NMTRX. Prospectus, as of July 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.00% |
| 12b-1 fee | — |
| Other expenses | — |
| Gross expense ratio | 0.05% |
| Fee waiver | −0.04% |
| Net expense ratio | 0.01% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
NMTRX Costs Over Time
On $10,000 invested in NMTRX, assuming 5% a year before costs, total costs come to $6 over 5 years, cutting the return by 0.01% 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 0.01%) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $0 | $0 | $1 |
| Total costs | $1 | $3 | $6 |
| Value after costs | $10,499 | $11,573 | $12,756 |
| Impact on return, per year | 0.01% | 0.01% | 0.01% |
NMTRX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $1.3B
- Portfolio turnover (prospectus): 48%
NMTRX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities, LLC | $198.7M | 19.20% |
| BNY Mellon Capital Markets, LLC | $157.0M | 15.17% |
| Piper Sandler & Co. | $152.7M | 14.76% |
| Pershing LLC | $107.9M | 10.43% |
| JPMorgan Securities LLC | $88.4M | 8.54% |
| Loop Capital Markets LLC | $81.4M | 7.86% |
| RBC Capital Markets, LLC | $70.2M | 6.78% |
| Jefferies LLC | $65.4M | 6.32% |
| Morgan Stanley | $63.4M | 6.13% |
| Stifel Nicolaus & Company Incorporated | $49.8M | 4.81% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.