SBDAX Fees and Costs — California Municipal Bond Fund, Class F
Data updated: 2026-07-29
The net expense ratio is 0.82%: a 0.33% management fee plus 0.49% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 28%.
SBDAX Fees and Expenses
Annual operating expenses and sales charges of SBDAX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.33% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.49% |
| Gross expense ratio | 0.82% |
| Fee waiver | — |
| Net expense ratio | 0.82% |
| 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 |
SBDAX Costs Over Time
On $10,000 invested in SBDAX, assuming 5% a year before costs, total costs come to $515 over 5 years, cutting the return by 0.86% 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 0.82%) | $86 | $269 | $468 |
| Lost growth on money paid in costs | $0 | $13 | $47 |
| Total costs | $86 | $282 | $515 |
| Value after costs | $10,414 | $11,294 | $12,248 |
| Impact on return, per year | 0.86% | 0.86% | 0.86% |
SBDAX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $124.3M
- Portfolio turnover (prospectus): 28%
- Securities lending: none during the year
SBDAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| RBC CAPITAL | $18.4M | 19.75% |
| WELLS FARGO | $15.0M | 16.08% |
| MORGAN STANLEY & CO, INC | $11.5M | 12.28% |
| STIFEL NICOLAUS & CO., INC. | $10.3M | 11.07% |
| GOLDMAN, SACHS & CO. | $9.8M | 10.48% |
| B.C. ZIEGLER & CO. | $6.8M | 7.29% |
| SUMRIDGE PARTNERS | $6.3M | 6.71% |
| UBS SECURITIES | $5.5M | 5.92% |
| WEDBUSH MORGAN SECURITIES, INC. | $5.1M | 5.49% |
| JEFFERIES LLC | $4.6M | 4.94% |
California Municipal Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SCYYX | Class Y | 0.57% | — |
| SBDAX | Class F | 0.82% | — |
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.