DAPXX Fees and Costs — Dreyfus Government Securities Cash Management, Administrative Shares
Data updated: 2026-05-29
The net expense ratio is 0.30%: a 0.20% management fee plus 0.11% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees.
DAPXX Fees and Expenses
Annual operating expenses and sales charges of DAPXX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | — |
| Other expenses | 0.11% |
| Gross expense ratio | 0.31% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.30% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
DAPXX Costs Over Time
On $10,000 invested in DAPXX, assuming 5% a year before costs, total costs come to $190 over 5 years, cutting the return by 0.31% 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 0.30%) | $32 | $99 | $173 |
| Lost growth on money paid in costs | $0 | $5 | $17 |
| Total costs | $32 | $104 | $190 |
| Value after costs | $10,468 | $11,472 | $12,573 |
| Impact on return, per year | 0.31% | 0.31% | 0.31% |
DAPXX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending January 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $63.7B
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
DAPXX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Academy Securities, Inc. | $17.0B | 27.80% |
| Merrill Lynch Pierce Fenner & Smith Inc | $16.8B | 27.52% |
| SIEBERT WILLIAMS SHANK & CO., LLC | $16.3B | 26.65% |
| DEUTSCHE BANK SECURITIES, INC. | $4.4B | 7.22% |
| CitiGroup Global Markets Inc. | $1.5B | 2.48% |
| Daiwa Capital Markets America, Inc. | $1.5B | 2.42% |
| CASTLEOAK SECURITIES, LP | $1.1B | 1.73% |
| WELLS FARGO SECURITIES, LLC | $1.0B | 1.64% |
| BARCLAYS CAPITAL, INC. | $915.9M | 1.50% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $631.4M | 1.04% |
Dreyfus Government Securities Cash Management Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| DIPXX | Institutional Shares | 0.20% | — |
| DAPXX | Administrative Shares | 0.30% | — |
| DVPXX | Investor Shares | 0.45% | — |
| DGPXX | Participant Shares | 0.60% | — |
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.