DMFZX Fees and Costs — Destinations Municipal Fixed Income Fund, Class Z
Data updated: 2026-07-20
The net expense ratio is 0.69%: a 0.70% management fee plus 0.10% other expenses, less a 0.11% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $21K in broker commissions, 0.0032% of average net assets, and portfolio turnover was 48%.
DMFZX Fees and Expenses
Annual operating expenses and sales charges of DMFZX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.10% |
| Gross expense ratio | 0.80% |
| Fee waiver | −0.11% |
| Net expense ratio | 0.69% |
| 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 |
DMFZX Costs Over Time
On $10,000 invested in DMFZX, assuming 5% a year before costs, total costs come to $436 over 5 years, cutting the return by 0.73% 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 0.69%) | $72 | $227 | $395 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $73 | $239 | $436 |
| Value after costs | $10,427 | $11,337 | $12,327 |
| Impact on return, per year | 0.73% | 0.73% | 0.73% |
DMFZX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0032%
- Total broker commissions: $21K
- Bought from dealers (principal trades, not a cost): $572.2M
- Portfolio turnover (prospectus): 48%
- Securities on loan, average value: $6.2M
- Net income from securities lending: $40K (0.006% of average net assets)
DMFZX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $14K | 64.05% |
| Goldman Sachs & Co, LLC | $8K | 35.95% |
DMFZX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY MELLON CAPITAL MARKETS, LLC | $153.7M | 33.77% |
| RAYMOND JAMES (USA) LTD. | $77.0M | 16.92% |
| J.P. MORGAN SECURITIES LLC | $47.2M | 10.36% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $40.0M | 8.78% |
| Wells Fargo Securities LLC | $37.8M | 8.30% |
| ROYAL BANK OF CANADA | $31.8M | 6.98% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $24.0M | 5.27% |
| MORGAN STANLEY & CO. LLC | $21.1M | 4.64% |
| Jefferies LLC | $11.4M | 2.51% |
| BARCLAYS CAPITAL INC. | $11.3M | 2.47% |
Destinations Municipal Fixed Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| DMFZX | Class Z | 0.69% | — |
| DMFFX | Class I | 0.84% | — |
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.