NOBOX Fees and Costs — Bond Index Fund
Data updated: 2026-08-28
The net expense ratio is 0.07%: a 0.06% management fee plus 0.06% other expenses, less a 0.06% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 57%.
NOBOX Fees and Expenses
Annual operating expenses and sales charges of NOBOX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.06% |
| 12b-1 fee | — |
| Other expenses | 0.06% |
| Gross expense ratio | 0.13% |
| Fee waiver | −0.06% |
| Net expense ratio | 0.07% |
| 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 |
NOBOX Costs Over Time
On $10,000 invested in NOBOX, assuming 5% a year before costs, total costs come to $45 over 5 years, cutting the return by 0.07% 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 0.07%) | $7 | $23 | $41 |
| Lost growth on money paid in costs | $0 | $1 | $4 |
| Total costs | $7 | $24 | $45 |
| Value after costs | $10,493 | $11,552 | $12,718 |
| Impact on return, per year | 0.07% | 0.07% | 0.07% |
NOBOX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $4.7B
- Portfolio turnover (prospectus): 57%
- Securities on loan, average value: $26.2M
- Net income from securities lending: $202K (0.008% of average net assets)
NOBOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $1.1B | 26.71% |
| JPMorgan Chase Bank, National Association | $1.1B | 26.16% |
| MORGAN STANLEY & CO. LLC | $632.5M | 15.01% |
| BNP PARIBAS | $387.3M | 9.19% |
| BMO Nesbitt Burns Inc. | $209.4M | 4.97% |
| CITADEL ADVISORS LLC | $182.6M | 4.33% |
| Jane Street Execution Services, LLC | $164.4M | 3.90% |
| BANK OF AMERICA CORPORATION | $160.6M | 3.81% |
| BARCLAYS BANK PLC | $155.4M | 3.69% |
| WELLS FARGO SECURITIES, LLC | $94.7M | 2.25% |
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.