DRLAX Fees and Costs — BNY Mellon Developed Markets Real Estate Securities Fund, Class A
Data updated: 2026-09-24
The net expense ratio is 1.30%: a 0.95% management fee plus 0.55% other expenses, less a 0.20% fee waiver. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2025 the fund paid $241K in broker commissions, 0.0794% of average net assets, and portfolio turnover was 40%.
DRLAX Fees and Expenses
Annual operating expenses and sales charges of DRLAX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.55% |
| Gross expense ratio | 1.50% |
| Fee waiver | −0.20% |
| Net expense ratio | 1.30% |
| 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 |
DRLAX Costs Over Time
On $10,000 invested in DRLAX, assuming 5% a year before costs, total costs come to $1,541 over 5 years, cutting the return by 2.67% 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 1.30%) | $129 | $400 | $691 |
| Trading costs (broker commissions) | $8 | $24 | $42 |
| Lost growth on money paid in costs | $29 | $112 | $233 |
| Total costs | $740 | $1,111 | $1,541 |
| Value after costs | $9,760 | $10,465 | $11,222 |
| Impact on return, per year | 7.40% | 3.47% | 2.67% |
DRLAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0794%
- Total broker commissions: $241K
- Bought from dealers (principal trades, not a cost): $254.9M
- Portfolio turnover (prospectus): 40%
- Securities on loan, average value: $10.5M
- Net income from securities lending: $16K (0.005% of average net assets)
DRLAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS INC. | $46K | 25.22% |
| LIQUIDNET, INC. | $28K | 15.13% |
| DBS Vickers Securities (USA) Inc. | $19K | 10.13% |
| UBS Securities LLC | $16K | 8.94% |
| J.P. MORGAN SECURITIES LLC | $16K | 8.74% |
| MORGAN STANLEY & CO. LLC | $13K | 6.92% |
| WELLS FARGO SECURITIES, LLC | $12K | 6.46% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $11K | 6.24% |
| MIZUHO SECURITIES USA LLC | $11K | 6.22% |
| BNP Paribas Securities Corp. | $11K | 6.00% |
DRLAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| LIQUIDNET, INC. | $49.7M | 24.41% |
| CitiGroup Global Markets Inc. | $37.0M | 18.18% |
| MORGAN STANLEY & CO. LLC | $21.0M | 10.33% |
| J.P. Morgan Securities LLC | $19.4M | 9.53% |
| BNP PARIBAS SECURITIES CORP. | $17.1M | 8.37% |
| WELLS FARGO SECURITIES, LLC | $14.2M | 6.98% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $12.7M | 6.23% |
| UBS SECURITIES LLC | $11.8M | 5.82% |
| RAYMOND JAMES FINANCIAL SERVICES, INC. | $11.8M | 5.78% |
| Mizuho Securities USA LLC | $8.9M | 4.37% |
BNY Mellon Developed Markets Real Estate Securities Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| DRLIX | Class I | 1.05% | none |
| DRLYX | Class Y | 1.05% | none |
| DRLAX | Class A | 1.30% | 5.75% |
| DGBCX | Class C | 2.05% | none |
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.