DGROX Fees and Costs — Delaware Global Real Estate Opportunities Fund, Institutional Class
Data updated: 2020-09-25
The net expense ratio is 1.15%: a 0.99% management fee plus 0.81% other expenses, less a 0.65% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $95K in broker commissions, 0.2733% of average net assets, and portfolio turnover was 133%.
DGROX Fees and Expenses
Annual operating expenses and sales charges of DGROX. Prospectus, as of October 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.99% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.81% |
| Gross expense ratio | 1.80% |
| Fee waiver | −0.65% |
| Net expense ratio | 1.15% |
| 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 | No |
DGROX Costs Over Time
On $10,000 invested in DGROX, assuming 5% a year before costs, total costs come to $883 over 5 years, cutting the return by 1.49% 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 1.15%) | $121 | $375 | $648 |
| Trading costs (broker commissions) | $29 | $89 | $154 |
| Lost growth on money paid in costs | $0 | $23 | $81 |
| Total costs | $149 | $487 | $883 |
| Value after costs | $10,351 | $11,089 | $11,880 |
| Impact on return, per year | 1.49% | 1.49% | 1.49% |
DGROX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.2733%
- Total broker commissions: $95K
- Bought from dealers (principal trades, not a cost): $1.4M
- Portfolio turnover (prospectus): 133%
- Securities lending: none during the year
DGROX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $11K | 18.05% |
| CITIGROUP GLOBAL MARKETS INC. | $11K | 17.88% |
| UBS Securities LLC | $8K | 13.19% |
| CREDIT SUISSE SECURITIES (USA) LLC | $6K | 10.26% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $5K | 8.37% |
| Daiwa Securities Group Inc. | $5K | 7.87% |
| HSBC SECURITIES (USA) INC. | $4K | 6.99% |
| JEFFERIES LLC | $4K | 6.06% |
| BMO CAPITAL MARKETS CORP. | $4K | 5.90% |
| GOLDMAN SACHS & CO. LLC | $3K | 5.43% |
DGROX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CitiGroup Global Markets Inc. | $509K | 35.80% |
| J.P. Morgan Securities LLC | $420K | 29.56% |
| MORGAN STANLEY & CO. LLC | $270K | 18.98% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $202K | 14.19% |
| Mizuho Securities USA LLC | $21K | 1.48% |
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.