DJWAX Fees and Costs — BNY Mellon Japan Womenomics Fund, Class A
Data updated: 2021-06-24
The net expense ratio is 1.25%: a 0.75% management fee plus 10.17% other expenses, less a 9.67% fee waiver. This share class carries a maximum front-end sales load of 5.75% and a redemption fee of 2.00%. In fiscal 2020 the fund paid $404 in broker commissions, 0.0174% of average net assets, and portfolio turnover was 36%.
DJWAX Fees and Expenses
Annual operating expenses and sales charges of DJWAX. Prospectus, as of September 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 10.17% |
| Gross expense ratio | 10.92% |
| Fee waiver | −9.67% |
| Net expense ratio | 1.25% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
DJWAX Costs Over Time
On $10,000 invested in DJWAX, assuming 5% a year before costs, total costs come to $1,477 over 5 years, cutting the return by 2.55% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.25%) | $124 | $385 | $666 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $29 | $110 | $227 |
| Total costs | $729 | $1,075 | $1,477 |
| Value after costs | $9,771 | $10,501 | $11,286 |
| Impact on return, per year | 7.29% | 3.36% | 2.55% |
DJWAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0174%
- Total broker commissions: $404
- Bought from dealers (principal trades, not a cost): $1.2M
- Portfolio turnover (prospectus): 36%
- Securities lending: none during the year
DJWAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| DAIWA CAPITAL MARKETS AMERICA INC. | $258 | 63.86% |
| MIZUHO SECURITIES USA LLC | $138 | 34.16% |
| CREDIT SUISSE SECURITIES (USA) LLC | $4 | 0.99% |
| INSTINET, LLC | $4 | 0.99% |
DJWAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| DAIWA CAPITAL MARKETS AMERICA INC. | $822K | 66.17% |
| MIZUHO SECURITIES USA LLC | $387K | 31.15% |
| INSTINET, LLC | $29K | 2.36% |
| CREDIT SUISSE SECURITIES (USA) LLC | $4K | 0.31% |
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.