DMIIX Fees and Costs — Delaware Tax-Free Minnesota Intermediate Fund, Institutional Class
Data updated: 2024-07-29
The net expense ratio is 0.56%: a 0.50% management fee plus 0.35% other expenses, less a 0.29% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 32%.
DMIIX Fees and Expenses
Annual operating expenses and sales charges of DMIIX. Prospectus, as of August 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.35% |
| Gross expense ratio | 0.85% |
| Fee waiver | −0.29% |
| Net expense ratio | 0.56% |
| 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 |
DMIIX Costs Over Time
On $10,000 invested in DMIIX, assuming 5% a year before costs, total costs come to $353 over 5 years, cutting the return by 0.59% 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 0.56%) | $59 | $184 | $321 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $59 | $193 | $353 |
| Value after costs | $10,441 | $11,383 | $12,409 |
| Impact on return, per year | 0.59% | 0.59% | 0.59% |
DMIIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $68.6M
- Portfolio turnover (prospectus): 32%
- Securities lending: none during the year
DMIIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $10.4M | 21.04% |
| BARCLAYS CAPITAL, INC. | $7.4M | 14.91% |
| MORGAN STANLEY & CO. LLC | $6.2M | 12.59% |
| MURIEL SIEBERT & CO INC. | $5.8M | 11.84% |
| CANTOR FITZGERALD & CO. | $5.3M | 10.81% |
| J.P. Morgan Securities LLC | $3.4M | 6.85% |
| STIFEL, NICHOLAS & COMPANY, INC. | $2.8M | 5.65% |
| GOLDMAN SACHS & CO. LLC | $2.7M | 5.54% |
| PIPER SANDLER & CO. | $2.7M | 5.54% |
| Fifth Third Securities, Inc. | $2.6M | 5.22% |
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.