SQBAX Fees and Costs — Saratoga Investment Quality Bond Portfolio, Class A
Data updated: 2026-07-24
The net expense ratio is 2.22%. This share class carries a maximum front-end sales load of 5.75%. Portfolio turnover was 29%.
SQBAX Fees and Expenses
Annual operating expenses and sales charges of SQBAX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | — |
| Other expenses | 1.21% |
| Gross expense ratio | 2.22% |
| Fee waiver | — |
| Net expense ratio | 2.22% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
SQBAX Costs Over Time
On $10,000 invested in SQBAX, assuming 5% a year before costs, total costs come to $2,011 over 5 years, cutting the return by 3.54% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 2.22%) | $220 | $677 | $1,159 |
| Lost growth on money paid in costs | $29 | $124 | $277 |
| Total costs | $823 | $1,376 | $2,011 |
| Value after costs | $9,677 | $10,200 | $10,752 |
| Impact on return, per year | 8.23% | 4.34% | 3.54% |
SQBAX 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): $7.7M
- Portfolio turnover (prospectus): 29%
- Securities lending: none during the year
SQBAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY Mellon Corp. | $7.7M | 100.00% |
Saratoga Investment Quality Bond Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SIBPX | Class I | 1.81% | none |
| SQBAX | Class A | 2.22% | 5.75% |
| SQBCX | Class C | 2.62% | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.