DOFAX Fees and Costs — BNY Mellon Strategic Beta Emerging Markets Equity Fund, Class A
Data updated: 2020-06-24
The net expense ratio is 1.04% (2.07% before fee waivers). This share class carries a maximum front-end sales load of 5.75%. In fiscal 2019 the fund paid $34K in broker commissions, 0.1203% of average net assets, and portfolio turnover was 79%.
DOFAX Fees and Expenses
Annual operating expenses and sales charges of DOFAX. Prospectus, as of October 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.43% |
| Gross expense ratio | 2.07% |
| Fee waiver | −1.03% |
| Net expense ratio | 1.04% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| 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 |
DOFAX Costs Over Time
On $10,000 invested in DOFAX, assuming 5% a year before costs, total costs come to $1,416 over 5 years, cutting the return by 2.44% 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 1.04%) | $103 | $321 | $555 |
| Trading costs (broker commissions) | $12 | $37 | $64 |
| Lost growth on money paid in costs | $29 | $108 | $221 |
| Total costs | $719 | $1,041 | $1,416 |
| Value after costs | $9,781 | $10,535 | $11,347 |
| Impact on return, per year | 7.19% | 3.25% | 2.44% |
DOFAX 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): 0.1203%
- Total broker commissions: $34K
- Bought from dealers (principal trades, not a cost): $49.7M
- Portfolio turnover (prospectus): 79%
- Securities on loan, average value: $271K
- Net income from securities lending: $915 (0.003% of average net assets)
DOFAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| DEUTSCHE BANK SECURITIES INC. | $10K | 33.76% |
| CITIGROUP GLOBAL MARKETS INC. | $6K | 21.87% |
| HSBC SECURITIES (USA) INC. | $5K | 17.90% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $4K | 12.83% |
| UBS SECURITIES LLC | $914 | 3.18% |
| J.P. MORGAN SECURITIES LLC | $774 | 2.69% |
| CANTOR FITZGERALD & CO. | $759 | 2.64% |
| CLSA AMERICAS, LLC | $681 | 2.37% |
| CREDIT SUISSE SECURITIES (USA) LLC | $433 | 1.50% |
| SG AMERICAS SECURITIES, LLC | $366 | 1.27% |
DOFAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| DEUTSCHE BANK SECURITIES INC. | $12.5M | 26.71% |
| HSBC SECURITIES (USA) INC. | $9.0M | 19.33% |
| CITIGROUP GLOBAL MARKETS INC. | $7.8M | 16.61% |
| J.P. MORGAN SECURITIES LLC | $4.4M | 9.38% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $3.8M | 8.14% |
| CANTOR FITZGERALD & CO. | $2.9M | 6.21% |
| UBS SECURITIES LLC | $2.4M | 5.06% |
| ITG INC. | $2.0M | 4.31% |
| CLSA AMERICAS, LLC | $1.0M | 2.20% |
| SG AMERICAS SECURITIES, LLC | $955K | 2.04% |
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.