PWTAX Fees and Costs — UBS U.S. Allocation Fund, Class A
Data updated: 2026-07-28
The net expense ratio is 1.03%: a 0.50% management fee, a 0.25% 12b-1 fee plus 0.27% other expenses. This share class carries a maximum front-end sales load of 5.50%. In fiscal 2025 the fund paid $36K in broker commissions, 0.0162% of average net assets, and portfolio turnover was 57%.
PWTAX Fees and Expenses
Annual operating expenses and sales charges of PWTAX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.27% |
| Gross expense ratio | 1.03% |
| Fee waiver | — |
| Net expense ratio | 1.03% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
PWTAX Costs Over Time
On $10,000 invested in PWTAX, assuming 5% a year before costs, total costs come to $1,320 over 5 years, cutting the return by 2.27% 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 | $550 | $550 | $550 |
| Fund expenses (net expense ratio 1.03%) | $102 | $319 | $552 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $27 | $103 | $209 |
| Total costs | $681 | $976 | $1,320 |
| Value after costs | $9,819 | $10,600 | $11,443 |
| Impact on return, per year | 6.81% | 3.04% | 2.27% |
PWTAX 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): 0.0162%
- Total broker commissions: $36K
- Bought from dealers (principal trades, not a cost): $1.0B
- Portfolio turnover (prospectus): 57%
- Securities on loan, average value: $4.7M
- Net income from securities lending: $6K (0.003% of average net assets)
PWTAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $10K | 28.45% |
| TD Securities (USA) LLC | $7K | 19.48% |
| Citigroup Global Markets Inc. | $4K | 12.86% |
| Jefferies LLC | $4K | 11.79% |
| Morgan Stanley & Co. LLC | $3K | 8.52% |
| J.P. Morgan Securities LLC | $2K | 4.73% |
| Goldman Sachs & Co. LLC | $2K | 4.67% |
| BNP Paribas Securities Corp. | $1K | 3.88% |
| KeyBanc Capital Markets Inc. | $1K | 3.35% |
| BNY Capital Markets, LLC | $778 | 2.27% |
PWTAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $426.9M | 43.61% |
| Morgan Stanley & Co. LLC | $312.6M | 31.93% |
| State Street Bank and Trust Company | $110.7M | 11.31% |
| BofA Securities, Inc. | $43.3M | 4.42% |
| Barclays Capital Inc. | $36.1M | 3.68% |
| J.P. Morgan Securities LLC | $18.2M | 1.85% |
| BMO Capital Markets Corp. | $9.7M | 0.99% |
| MUFG Securities Americas Inc. | $7.4M | 0.76% |
| Citadel Securities LLC | $7.4M | 0.75% |
| Deutsche Bank Securities Inc. | $6.9M | 0.70% |
UBS U.S. Allocation Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PWTYX | Class P | 0.77% | none |
| PWTAX | Class A | 1.03% | 5.50% |
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.