TPPAX Fees and Costs — T. Rowe Price Spectrum Moderate Allocation Fund, I Class
Data updated: 2026-08-12
The net expense ratio is 0.62% (0.79% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $337K in broker commissions, 0.0164% of average net assets, and portfolio turnover was 55%.
TPPAX Fees and Expenses
Annual operating expenses and sales charges of TPPAX. Prospectus, as of July 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.53% |
| 12b-1 fee | — |
| Other expenses | 0.05% |
| Gross expense ratio | 0.79% |
| Fee waiver | −0.17% |
| Net expense ratio | 0.62% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
TPPAX Costs Over Time
On $10,000 invested in TPPAX, assuming 5% a year before costs, total costs come to $401 over 5 years, cutting the return by 0.67% 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 0.62%) | $65 | $204 | $355 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $0 | $10 | $37 |
| Total costs | $67 | $220 | $401 |
| Value after costs | $10,433 | $11,357 | $12,362 |
| Impact on return, per year | 0.67% | 0.67% | 0.67% |
TPPAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0164%
- Total broker commissions: $337K
- Bought from dealers (principal trades, not a cost): $935.0M
- Portfolio turnover (prospectus): 55%
- Securities on loan, average value: $8.3M
- Net income from securities lending: $35K (0.002% of average net assets)
TPPAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $37K | 16.94% |
| J.P. MORGAN SECURITIES LLC | $35K | 16.26% |
| GOLDMAN SACHS & CO. LLC | $32K | 14.73% |
| Citigroup Inc. | $21K | 9.52% |
| JEFFERIES LLC | $20K | 9.45% |
| UBS AG | $20K | 9.05% |
| BOFA SECURITIES, INC. | $19K | 8.59% |
| RBC Capital Markets, LLC | $12K | 5.65% |
| BARCLAYS CAPITAL INC. | $11K | 5.31% |
| BMO Capital Markets Corp. | $10K | 4.51% |
TPPAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $175.5M | 21.92% |
| GOLDMAN SACHS & CO. LLC | $172.0M | 21.47% |
| MORGAN STANLEY & CO. LLC | $137.6M | 17.18% |
| J.P. MORGAN SECURITIES LLC | $59.2M | 7.39% |
| Citigroup Inc. | $56.0M | 6.99% |
| STONEX FINANCIAL INC. | $55.8M | 6.96% |
| BARCLAYS CAPITAL INC. | $45.9M | 5.73% |
| BNP PARIBAS | $44.7M | 5.59% |
| BOFA SECURITIES, INC. | $29.6M | 3.69% |
| BMO Capital Markets Corp. | $24.7M | 3.08% |
T. Rowe Price Spectrum Moderate 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 |
|---|---|---|---|
| TPPAX | I Class | 0.62% | — |
| TRPBX | T. Rowe Price Spectrum Moderate Allocation Fund | 0.76% | — |
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.