ABHYX Fees and Costs — High-Yield Municipal Fund, Investor Class
Data updated: 2026-09-28
The net expense ratio is 0.60%: a 0.59% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $2K in broker commissions, 0.0003% of average net assets, and portfolio turnover was 49%.
ABHYX Fees and Expenses
Annual operating expenses and sales charges of ABHYX. Prospectus, as of October 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.59% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.60% |
| Fee waiver | — |
| Net expense ratio | 0.60% |
| 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 |
ABHYX Costs Over Time
On $10,000 invested in ABHYX, assuming 5% a year before costs, total costs come to $379 over 5 years, cutting the return by 0.63% 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 0.60%) | $63 | $197 | $344 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $63 | $207 | $379 |
| Value after costs | $10,437 | $11,369 | $12,384 |
| Impact on return, per year | 0.63% | 0.63% | 0.63% |
ABHYX 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): 0.0003%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $459.7M
- Portfolio turnover (prospectus): 49%
- Securities lending: none during the year
ABHYX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BANK OF AMERICA MERRILL LYNCH | $1K | 73.56% |
| JANE STREET GROUP LLC | $418 | 26.44% |
ABHYX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES | $118.9M | 31.57% |
| WELLS FARGO SECURITIES | $73.1M | 19.41% |
| MORGAN STANLEY | $39.3M | 10.43% |
| GOLDMAN SACHS | $26.1M | 6.93% |
| BANK OF AMERICA MERRILL LYNCH | $24.2M | 6.44% |
| RBC CAPITAL MARKETS | $23.4M | 6.21% |
| PIPER SANDLER & CO | $20.9M | 5.55% |
| ZIEGLER SECURITIES | $19.7M | 5.23% |
| STIFEL NICOLAUS & CO MARKETS | $15.9M | 4.22% |
| TORONTO-DOMINION CORP | $15.1M | 4.01% |
High-Yield Municipal Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| AYMYX | Y Class | 0.37% | none |
| AYMIX | I Class | 0.40% | none |
| ABHYX | Investor Class | 0.60% | none |
| AYMAX | A Class | 0.85% | 4.50% |
| AYMCX | C Class | 1.60% | 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.