SBOOX Fees and Costs — Overlay B Portfolio, Class 1
Data updated: 2026-08-26
The net expense ratio is 0.95% (1.00% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $40K in broker commissions, 0.0119% of average net assets, and portfolio turnover was 140%.
SBOOX Fees and Expenses
Annual operating expenses and sales charges of SBOOX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.28% |
| Gross expense ratio | 1.00% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.95% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
SBOOX Costs Over Time
On $10,000 invested in SBOOX, assuming 5% a year before costs, total costs come to $602 over 5 years, cutting the return by 1.01% 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 0.95%) | $100 | $311 | $540 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $16 | $55 |
| Total costs | $101 | $331 | $602 |
| Value after costs | $10,399 | $11,245 | $12,161 |
| Impact on return, per year | 1.01% | 1.01% | 1.01% |
SBOOX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0119%
- Total broker commissions: $40K
- Bought from dealers (principal trades, not a cost): $1.3B
- Portfolio turnover (prospectus): 140%
- Securities lending: none during the year
SBOOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $37K | 93.52% |
| BofA Securities, Inc. | $2K | 4.22% |
| UBS Securities LLC | $894 | 2.26% |
SBOOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $449.6M | 39.31% |
| State Street Bank and Trust Company | $384.5M | 33.62% |
| Goldman Sachs & Co. LLC | $83.6M | 7.31% |
| J.P. Morgan Securities LLC | $59.8M | 5.23% |
| Barclays Capital Inc. | $49.3M | 4.31% |
| Citigroup Global Markets Inc. | $27.7M | 2.42% |
| Nomura Securities International, Inc. | $26.9M | 2.35% |
| BofA Securities, Inc. | $26.2M | 2.29% |
| BNP Paribas Securities Corp. | $20.0M | 1.74% |
| RBC Capital Markets, LLC | $16.2M | 1.41% |
Overlay B Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SBOTX | Class 2 | 0.81% | none |
| SBOOX | Class 1 | 0.95% | none |
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.