APAAX Fees and Costs — AB Pennsylvania Portfolio, Class A
Data updated: 2025-04-28
The net expense ratio is 0.85%: a 0.45% management fee, a 0.25% 12b-1 fee plus 0.66% other expenses, less a 0.51% fee waiver. This share class carries a maximum front-end sales load of 3.00%. Portfolio turnover was 19%.
APAAX Fees and Expenses
Annual operating expenses and sales charges of APAAX. Prospectus, as of September 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.66% |
| Gross expense ratio | 1.36% |
| Fee waiver | −0.51% |
| Net expense ratio | 0.85% |
| Sales charges | |
|---|---|
| Max front load | 3.00% |
| 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 |
APAAX Costs Over Time
On $10,000 invested in APAAX, assuming 5% a year before costs, total costs come to $900 over 5 years, cutting the return by 1.52% 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 |
| Sales charges | $300 | $300 | $300 |
| Fund expenses (net expense ratio 0.85%) | $87 | $271 | $470 |
| Lost growth on money paid in costs | $15 | $61 | $130 |
| Total costs | $402 | $631 | $900 |
| Value after costs | $10,098 | $10,945 | $11,863 |
| Impact on return, per year | 4.02% | 1.94% | 1.52% |
APAAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $42.8M
- Portfolio turnover (prospectus): 19%
- Securities lending: none during the year
APAAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $24.6M | 59.30% |
| Morgan Stanley & Co. LLC | $3.8M | 9.27% |
| Wells Fargo Securities, LLC | $3.6M | 8.77% |
| Stifel, Nicolaus & Company, Incorporated | $2.0M | 4.90% |
| Citigroup Global Markets Inc. | $1.8M | 4.30% |
| RBC Capital Markets, LLC | $1.4M | 3.38% |
| Deutsche Bank Securities Inc. | $1.3M | 3.11% |
| Barclays Capital Inc. | $1.0M | 2.41% |
| Piper Sandler & Co. | $985K | 2.38% |
| Goldman Sachs & Co. LLC | $900K | 2.17% |
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.