CPHYX Fees and Costs — High Yield Fund, Class A
Data updated: 2026-09-25
The net expense ratio is 0.90%: a 0.50% management fee, a 0.25% 12b-1 fee plus 0.14% other expenses. This share class carries a maximum front-end sales load of 3.75% and a deferred sales charge of up to 1.00%. In fiscal 2025 the fund paid $252K in broker commissions, 0.0040% of average net assets, and portfolio turnover was 40%.
CPHYX Fees and Expenses
Annual operating expenses and sales charges of CPHYX. Prospectus, as of March 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.14% |
| Gross expense ratio | 0.90% |
| Fee waiver | — |
| Net expense ratio | 0.90% |
| Sales charges | |
|---|---|
| Max front load | 3.75% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
CPHYX Costs Over Time
On $10,000 invested in CPHYX, assuming 5% a year before costs, total costs come to $1,024 over 5 years, cutting the return by 1.74% 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 | $475 | $375 | $375 |
| Fund expenses (net expense ratio 0.90%) | $91 | $284 | $493 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $19 | $73 | $154 |
| Total costs | $585 | $734 | $1,024 |
| Value after costs | $9,915 | $10,843 | $11,739 |
| Impact on return, per year | 5.85% | 2.27% | 1.74% |
CPHYX 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): 0.0040%
- Total broker commissions: $252K
- Bought from dealers (principal trades, not a cost): $4.1B
- Portfolio turnover (prospectus): 40%
- Securities on loan, average value: $80.0M
- Net income from securities lending: $991K (0.016% of average net assets)
CPHYX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS CAPITAL INC. | $99K | 39.13% |
| JANE STREET CAPITAL | $82K | 32.59% |
| GOLDMAN SACHS CO. | $47K | 18.50% |
| MERRILL LYNCH PIERCE FENNER & SMITH | $15K | 6.12% |
| J.P. MORGAN SECURITIES LLC | $9K | 3.66% |
CPHYX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $759.0M | 20.51% |
| BARCLAYS CAPITAL INC. | $655.5M | 17.72% |
| WELLS FARGO SECURITIES LLC | $570.5M | 15.42% |
| MERRILL LYNCH PIERCE FENNER & SMITH | $467.9M | 12.65% |
| CITIGROUP GLOBAL MARKETS | $459.0M | 12.41% |
| GOLDMAN SACHS CO. | $421.6M | 11.39% |
| DEUTSCHE BANK SECURITIES CORP. | $108.3M | 2.93% |
| MORGAN STANLEY & CO. LLC. | $106.7M | 2.88% |
| UBS SECURITIES LLC | $80.4M | 2.17% |
| JEFFERIES & COMPANY | $71.1M | 1.92% |
High Yield Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PHYFX | Class R-6 | 0.52% | none |
| PHYTX | Institutional Class | 0.61% | none |
| CPHYX | Class A | 0.90% | 3.75% |
| CCHIX | Class C | 1.69% | 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.