ACYHX Fees and Costs — California High-Yield Municipal Fund, Y Class
Data updated: 2026-07-29
The net expense ratio is 0.27%: a 0.26% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $9K in broker commissions, 0.0006% of average net assets, and portfolio turnover was 64%.
ACYHX Fees and Expenses
Annual operating expenses and sales charges of ACYHX. Prospectus, as of January 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.26% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.27% |
| Fee waiver | — |
| Net expense ratio | 0.27% |
| 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 |
ACYHX Costs Over Time
On $10,000 invested in ACYHX, assuming 5% a year before costs, total costs come to $172 over 5 years, cutting the return by 0.28% 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 0.27%) | $28 | $89 | $156 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $4 | $16 |
| Total costs | $28 | $94 | $172 |
| Value after costs | $10,472 | $11,483 | $12,591 |
| Impact on return, per year | 0.28% | 0.28% | 0.28% |
ACYHX 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): 0.0006%
- Total broker commissions: $9K
- Bought from dealers (principal trades, not a cost): $2.0B
- Portfolio turnover (prospectus): 64%
- Securities lending: none during the year
ACYHX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BANK OF AMERICA MERRILL LYNCH | $7K | 80.82% |
| CITADEL SECURITIES CSHC US LLC | $1K | 12.86% |
| JANE STREET GROUP LLC | $572 | 6.32% |
ACYHX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES | $364.6M | 21.32% |
| BARCLAYS CAPITAL | $317.3M | 18.56% |
| GOLDMAN SACHS | $263.9M | 15.43% |
| WELLS FARGO SECURITIES | $180.5M | 10.56% |
| MORGAN STANLEY | $120.9M | 7.07% |
| RBC CAPITAL MARKETS | $113.5M | 6.64% |
| PIPER SANDLER & CO | $110.4M | 6.45% |
| STIFEL NICOLAUS & CO MARKETS | $83.3M | 4.87% |
| BANK OF AMERICA MERRILL LYNCH | $82.7M | 4.84% |
| TORONTO-DOMINION CORP | $72.8M | 4.25% |
California 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 |
|---|---|---|---|
| ACYHX | Y Class | 0.27% | none |
| BCHIX | I Class | 0.30% | none |
| BCHYX | Investor Class | 0.50% | none |
| CAYAX | A Class | 0.75% | 4.50% |
| CAYCX | C Class | 1.50% | 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.