DRAFX Fees and Costs — Destinations Real Assets Fund, Class I
Data updated: 2026-07-20
The net expense ratio is 1.18% (1.43% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $240K in broker commissions, 0.0718% of average net assets, and portfolio turnover was 92%.
DRAFX Fees and Expenses
Annual operating expenses and sales charges of DRAFX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.39% |
| Gross expense ratio | 1.43% |
| Fee waiver | −0.25% |
| Net expense ratio | 1.18% |
| 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 |
DRAFX Costs Over Time
On $10,000 invested in DRAFX, assuming 5% a year before costs, total costs come to $779 over 5 years, cutting the return by 1.31% 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 1.18%) | $124 | $386 | $667 |
| Trading costs (broker commissions) | $8 | $23 | $41 |
| Lost growth on money paid in costs | $0 | $20 | $72 |
| Total costs | $131 | $429 | $779 |
| Value after costs | $10,369 | $11,147 | $11,984 |
| Impact on return, per year | 1.31% | 1.31% | 1.31% |
DRAFX 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): 0.0718%
- Total broker commissions: $240K
- Bought from dealers (principal trades, not a cost): $8.6M
- Portfolio turnover (prospectus): 92%
- Securities on loan, average value: $2.4M
- Net income from securities lending: $31K (0.009% of average net assets)
DRAFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $42K | 24.68% |
| UBS Securities LLC | $22K | 13.02% |
| J.P. MORGAN SECURITIES LLC | $22K | 12.83% |
| MORGAN STANLEY & CO. LLC | $18K | 10.67% |
| ROYAL BANK OF CANADA | $13K | 7.91% |
| Citigroup Global Markets Inc. | $13K | 7.56% |
| Jefferies LLC | $13K | 7.42% |
| Goldman Sachs & Co, LLC | $11K | 6.33% |
| Macquarie Capital (USA) Inc. | $8K | 4.97% |
| TD Securities (USA) LLC. | $8K | 4.62% |
DRAFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $3.3M | 44.00% |
| Goldman Sachs & Co, LLC | $1.0M | 14.05% |
| MORGAN STANLEY & CO. LLC | $665K | 8.99% |
| Canadian Imperial Bank of Commerce | $630K | 8.53% |
| J.P. MORGAN SECURITIES LLC | $525K | 7.10% |
| Wells Fargo Securities LLC | $348K | 4.71% |
| UBS Securities LLC | $254K | 3.43% |
| BARCLAYS CAPITAL INC. | $252K | 3.41% |
| PARETO SECURITIES INC. | $222K | 3.00% |
| DAIWA SECURITIES GROUP | $205K | 2.77% |
Destinations Real Assets Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| DRAZX | Class Z | 1.03% | — |
| DRAFX | Class I | 1.18% | — |
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.