TWBIX Fees and Costs — Balanced Fund, Investor Class
Data updated: 2026-09-29
The net expense ratio is 0.89%: a 0.88% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $65K in broker commissions, 0.0071% of average net assets, and portfolio turnover was 84%.
TWBIX Fees and Expenses
Annual operating expenses and sales charges of TWBIX. Prospectus, as of March 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.88% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.89% |
| Fee waiver | — |
| Net expense ratio | 0.89% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
TWBIX Costs Over Time
On $10,000 invested in TWBIX, assuming 5% a year before costs, total costs come to $562 over 5 years, cutting the return by 0.94% 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 0.89%) | $93 | $292 | $507 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $94 | $309 | $562 |
| Value after costs | $10,406 | $11,267 | $12,201 |
| Impact on return, per year | 0.94% | 0.94% | 0.94% |
TWBIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0071%
- Total broker commissions: $65K
- Bought from dealers (principal trades, not a cost): $1.2B
- Portfolio turnover (prospectus): 84%
- Securities lending: none during the year
TWBIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BANK OF AMERICA MERRILL LYNCH | $23K | 40.85% |
| J.P. MORGAN SECURITIES | $7K | 12.10% |
| MORGAN STANLEY | $5K | 9.61% |
| CITIGROUP CAPITAL MARKETS INC. | $4K | 7.06% |
| BERNSTEIN INSTITUTIONAL SERVICES | $4K | 6.85% |
| BARCLAYS CAPITAL | $4K | 6.67% |
| PIPER SANDLER & CO | $3K | 5.61% |
| KEEFE BRUYETTE WOODS INC | $2K | 4.20% |
| UBS WARBURG | $2K | 3.81% |
| RAYMOND JAMES | $2K | 3.23% |
TWBIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES | $313.2M | 32.75% |
| BARCLAYS CAPITAL | $275.2M | 28.78% |
| BANK OF AMERICA MERRILL LYNCH | $89.2M | 9.32% |
| CITIGROUP CAPITAL MARKETS INC. | $56.4M | 5.90% |
| MORGAN STANLEY | $50.0M | 5.23% |
| BNP PARIBAS SECURITIES | $41.1M | 4.30% |
| UBS WARBURG | $36.2M | 3.79% |
| GOLDMAN SACHS | $32.6M | 3.41% |
| CITADEL SECURITIES CSHC US LLC | $32.1M | 3.36% |
| WELLS FARGO SECURITIES | $30.1M | 3.15% |
Balanced Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ABGNX | R5 Class | 0.69% | — |
| ABINX | I Class | 0.69% | — |
| TWBIX | Investor Class | 0.89% | — |
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.