NOFIX Fees and Costs — Fixed Income Fund
Data updated: 2026-08-28
The net expense ratio is 0.45%: a 0.43% management fee plus 0.09% other expenses, less a 0.07% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $9K in broker commissions, 0.0031% of average net assets, and portfolio turnover was 128%.
NOFIX Fees and Expenses
Annual operating expenses and sales charges of NOFIX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.43% |
| 12b-1 fee | — |
| Other expenses | 0.09% |
| Gross expense ratio | 0.52% |
| Fee waiver | −0.07% |
| Net expense ratio | 0.45% |
| 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 |
NOFIX Costs Over Time
On $10,000 invested in NOFIX, assuming 5% a year before costs, total costs come to $287 over 5 years, cutting the return by 0.48% 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 0.45%) | $47 | $148 | $259 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $7 | $26 |
| Total costs | $48 | $157 | $287 |
| Value after costs | $10,452 | $11,420 | $12,476 |
| Impact on return, per year | 0.48% | 0.48% | 0.48% |
NOFIX 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): 0.0031%
- Total broker commissions: $9K
- Bought from dealers (principal trades, not a cost): $1.1B
- Portfolio turnover (prospectus): 128%
- Securities on loan, average value: $2.8M
- Net income from securities lending: $11K (0.004% of average net assets)
NOFIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citibank, National Association | $9K | 95.23% |
| MERRILL LYNCH INTERNATIONAL | $435 | 4.77% |
NOFIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $306.2M | 35.15% |
| BARCLAYS BANK PLC | $130.9M | 15.03% |
| MORGAN STANLEY & CO. LLC | $90.2M | 10.36% |
| JPMorgan Chase Bank, National Association | $77.6M | 8.91% |
| CITADEL ADVISORS LLC | $76.8M | 8.82% |
| BMO Nesbitt Burns Inc. | $50.6M | 5.81% |
| MUFG SECURITIES AMERICAS INC. | $40.0M | 4.59% |
| GOLDMAN SACHS & CO. LLC | $33.9M | 3.89% |
| BANK OF AMERICA CORPORATION | $33.0M | 3.79% |
| Wells Fargo Bank, National Association | $31.8M | 3.65% |
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.