ATOAX Fees and Costs — abrdn Ultra Short Municipal Income Fund, Class A
Data updated: 2026-09-29
The net expense ratio is 0.70%: a 0.30% management fee, a 0.25% 12b-1 fee plus 0.29% other expenses, less a 0.14% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 154%.
ATOAX Fees and Expenses
Annual operating expenses and sales charges of ATOAX. Prospectus, as of March 6, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.29% |
| Gross expense ratio | 0.84% |
| Fee waiver | −0.14% |
| Net expense ratio | 0.70% |
| 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 | Yes |
ATOAX Costs Over Time
On $10,000 invested in ATOAX, assuming 5% a year before costs, total costs come to $440 over 5 years, cutting the return by 0.73% 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 0.70%) | $74 | $230 | $400 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $74 | $241 | $440 |
| Value after costs | $10,426 | $11,335 | $12,322 |
| Impact on return, per year | 0.73% | 0.73% | 0.73% |
ATOAX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $3.0B
- Portfolio turnover (prospectus): 154%
- Securities lending: none during the year
ATOAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $518.2M | 18.64% |
| J.P. Morgan Securities LLC | $486.6M | 17.51% |
| BofA Securities, Inc. | $418.9M | 15.07% |
| Barclays Capital Inc. | $358.3M | 12.89% |
| Morgan Stanley & Co. LLC | $264.6M | 9.52% |
| Goldman Sachs & Co. LLC | $211.4M | 7.61% |
| Wells Fargo Securities, LLC | $169.8M | 6.11% |
| Truist Securities, Inc. | $155.3M | 5.59% |
| ISI Financial Group Inc. | $107.0M | 3.85% |
| RBC Capital Markets, LLC | $89.4M | 3.21% |
abrdn Ultra Short Municipal Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ATOIX | Institutional Class | 0.45% | none |
| ATOAX | Class A | 0.70% | none |
| ATOBX | Class A1 | 0.70% | 0.50% |
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.