DCPEX Fees and Costs — BNY Mellon Emerging Markets Securities Fund, Class C
Data updated: 2022-08-08
The net expense ratio is 2.50%: a 1.25% management fee, a 0.75% 12b-1 fee plus 1.01% other expenses, less a 0.51% fee waiver. This share class carries a deferred sales charge of up to 1.00%. In fiscal 2022 the fund paid $92K in broker commissions, 0.1134% of average net assets, and portfolio turnover was 69%.
DCPEX Fees and Expenses
Annual operating expenses and sales charges of DCPEX. Prospectus, as of May 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.75% |
| Other expenses | 1.01% |
| Gross expense ratio | 3.01% |
| Fee waiver | −0.51% |
| Net expense ratio | 2.50% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
DCPEX Costs Over Time
On $10,000 invested in DCPEX, assuming 5% a year before costs, total costs come to $1,583 over 5 years, cutting the return by 2.74% 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 | $102 | $0 | $0 |
| Fund expenses (net expense ratio 2.50%) | $262 | $805 | $1,373 |
| Trading costs (broker commissions) | $12 | $37 | $62 |
| Lost growth on money paid in costs | $0 | $42 | $147 |
| Total costs | $377 | $884 | $1,583 |
| Value after costs | $10,123 | $10,692 | $11,180 |
| Impact on return, per year | 3.77% | 2.74% | 2.74% |
DCPEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.1134%
- Total broker commissions: $92K
- Bought from dealers (principal trades, not a cost): $120.0M
- Portfolio turnover (prospectus): 69%
- Securities on loan, average value: $5K
- Net income from securities lending: $6 (0.000% of average net assets)
DCPEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $45K | 48.65% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $24K | 25.72% |
| HSBC SECURITIES (USA) INC. | $13K | 13.73% |
| SUSQUEHANNA FINANCIAL GROUP, LLLP | $7K | 7.87% |
| CREDIT SUISSE SECURITIES (USA) LLC | $3K | 2.86% |
| NATIONAL FINANCIAL SERVICES LLC | $820 | 0.89% |
| PIPER JAFFRAY & CO. | $123 | 0.13% |
| LIQUIDNET, INC. | $68 | 0.07% |
| JEFFERIES LLC | $52 | 0.06% |
DCPEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $46.3M | 38.60% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $31.0M | 25.86% |
| SUSQUEHANNA FINANCIAL GROUP, LLLP | $23.5M | 19.56% |
| HSBC SECURITIES (USA) INC. | $14.4M | 11.96% |
| NATIONAL FINANCIAL SERVICES LLC | $2.0M | 1.64% |
| CREDIT SUISSE SECURITIES (USA) LLC | $1.8M | 1.46% |
| JEFFERIES LLC | $896K | 0.75% |
| LIQUIDNET, INC. | $114K | 0.09% |
| PIPER JAFFRAY & CO. | $103K | 0.09% |
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.