DGAGX Fees and Costs — BNY Mellon Appreciation Fund, Inc., Investor Shares
Data updated: 2026-08-24
The net expense ratio is 0.88%: a 0.55% management fee plus 0.33% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $145K in broker commissions, 0.0070% of average net assets, and portfolio turnover was 13%.
DGAGX Fees and Expenses
Annual operating expenses and sales charges of DGAGX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | — |
| Other expenses | 0.33% |
| Gross expense ratio | 0.88% |
| Fee waiver | — |
| Net expense ratio | 0.88% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
DGAGX Costs Over Time
On $10,000 invested in DGAGX, assuming 5% a year before costs, total costs come to $556 over 5 years, cutting the return by 0.93% 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 0.88%) | $92 | $289 | $501 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $14 | $51 |
| Total costs | $93 | $305 | $556 |
| Value after costs | $10,407 | $11,271 | $12,207 |
| Impact on return, per year | 0.93% | 0.93% | 0.93% |
DGAGX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0070%
- Total broker commissions: $145K
- Bought from dealers (principal trades, not a cost): $928.1M
- Portfolio turnover (prospectus): 13%
- Securities on loan, average value: $33.3M
- Net income from securities lending: $42K (0.002% of average net assets)
DGAGX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $56K | 38.84% |
| UBS Securities LLC | $26K | 18.24% |
| GOLDMAN SACHS & CO. LLC | $25K | 16.98% |
| Berenberg Capital Markets LLC | $18K | 12.13% |
| WELLS FARGO SECURITIES, LLC | $8K | 5.50% |
| BARCLAYS CAPITAL, INC. | $7K | 5.00% |
| Stifel, Nicolaus & Company, Incorporated | $5K | 3.32% |
DGAGX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $427.0M | 46.00% |
| GOLDMAN SACHS & CO. LLC | $206.8M | 22.28% |
| BARCLAYS CAPITAL, INC. | $82.6M | 8.90% |
| STIFEL, NICHOLAS & COMPANY, INC. | $77.2M | 8.31% |
| UBS SECURITIES LLC | $61.3M | 6.61% |
| WELLS FARGO SECURITIES, LLC | $55.6M | 5.99% |
| BERENBERG CAPITAL MARKETS LLC | $17.6M | 1.89% |
BNY Mellon Appreciation Fund, Inc. Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| DGYGX | Class Y | 0.58% | — |
| DGIGX | Class I | 0.64% | — |
| DGAGX | Investor Shares | 0.88% | — |
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.