TSDUX Fees and Costs — Ultra-Short Term Fixed Income Fund
Data updated: 2026-07-28
The net expense ratio is 0.53%: a 0.50% management fee plus 0.18% other expenses, less a 0.15% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 123%.
TSDUX Fees and Expenses
Annual operating expenses and sales charges of TSDUX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.18% |
| Gross expense ratio | 0.68% |
| Fee waiver | −0.15% |
| Net expense ratio | 0.53% |
| 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 |
TSDUX Costs Over Time
On $10,000 invested in TSDUX, assuming 5% a year before costs, total costs come to $335 over 5 years, cutting the return by 0.56% 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 0.53%) | $56 | $174 | $304 |
| Lost growth on money paid in costs | $0 | $9 | $31 |
| Total costs | $56 | $183 | $335 |
| Value after costs | $10,444 | $11,393 | $12,428 |
| Impact on return, per year | 0.56% | 0.56% | 0.56% |
TSDUX 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): $4.5B
- Portfolio turnover (prospectus): 123%
- Securities lending: none during the year
TSDUX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BMO Capital Markets Corp. | $1.0B | 27.16% |
| J.P. MORGAN SECURITIES LLC | $549.4M | 14.33% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $399.3M | 10.41% |
| BARCLAYS CAPITAL INC. | $388.6M | 10.13% |
| Citigroup Global Markets Inc. | $363.7M | 9.48% |
| BNP Paribas Securities Corp. | $282.5M | 7.37% |
| STATE STREET GLOBAL MARKETS, LLC | $234.7M | 6.12% |
| Goldman Sachs & Co, LLC | $214.2M | 5.59% |
| Mizuho Securities USA LLC | $184.2M | 4.80% |
| ROYAL BANK OF CANADA | $176.2M | 4.60% |
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.