PBIQX Fees and Costs — Bond Market Index Fund, Class R-5
Data updated: 2026-07-24
The net expense ratio is 0.38%: a 0.10% management fee plus 0.27% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2K in broker commissions, 0.0001% of average net assets, and portfolio turnover was 43%.
PBIQX Fees and Expenses
Annual operating expenses and sales charges of PBIQX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.10% |
| 12b-1 fee | — |
| Other expenses | 0.27% |
| Gross expense ratio | 0.38% |
| Fee waiver | — |
| Net expense ratio | 0.38% |
| Sales charges | |
|---|---|
| Max front load | — |
| 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 |
PBIQX Costs Over Time
On $10,000 invested in PBIQX, assuming 5% a year before costs, total costs come to $241 over 5 years, cutting the return by 0.40% 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 0.38%) | $40 | $125 | $219 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $6 | $22 |
| Total costs | $40 | $132 | $241 |
| Value after costs | $10,460 | $11,445 | $12,522 |
| Impact on return, per year | 0.40% | 0.40% | 0.40% |
PBIQX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0001%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $2.5B
- Portfolio turnover (prospectus): 43%
- Securities on loan, average value: $17.3M
- Net income from securities lending: $130K (0.005% of average net assets)
PBIQX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JANE STREET CAPITAL | $1K | 55.56% |
| MERRILL LYNCH PIERCE FENNER & SMITH | $800 | 35.56% |
| BARCLAYS CAPITAL INC. | $150 | 6.67% |
| MORGAN STANLEY & CO. LLC. | $50 | 2.22% |
PBIQX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES LLC | $902.0M | 40.90% |
| GOLDMAN SACHS CO. | $339.2M | 15.38% |
| J.P. MORGAN SECURITIES LLC | $191.4M | 8.68% |
| MERRILL LYNCH PIERCE FENNER & SMITH | $138.9M | 6.30% |
| BMO CAPITAL MARKETS | $135.5M | 6.14% |
| CITIGROUP GLOBAL MARKETS | $127.0M | 5.76% |
| MORGAN STANLEY & CO. LLC. | $121.6M | 5.51% |
| NOMURA SECURITIES INT'L INC. | $117.4M | 5.32% |
| BNP PARIBAS SECURITIES CORP | $72.6M | 3.29% |
| BARCLAYS CAPITAL INC. | $59.7M | 2.71% |
Bond Market Index Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PNIIX | Institutional Class | 0.12% | — |
| PBIQX | Class R-5 | 0.38% | — |
| PBIJX | Class J | 0.43% | — |
| PBOIX | Class R-3 | 0.69% | — |
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.