DTFIX Fees and Costs — Macquarie Tax-Free USA Fund, Institutional Class
Data updated: 2026-07-27
The net expense ratio is 0.55%: a 0.51% management fee plus 0.13% other expenses, less a 0.09% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 37%.
DTFIX Fees and Expenses
Annual operating expenses and sales charges of DTFIX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.51% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.13% |
| Gross expense ratio | 0.64% |
| Fee waiver | −0.09% |
| Net expense ratio | 0.55% |
| 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 |
DTFIX Costs Over Time
On $10,000 invested in DTFIX, assuming 5% a year before costs, total costs come to $347 over 5 years, cutting the return by 0.58% 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 0.55%) | $58 | $181 | $315 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $58 | $190 | $347 |
| Value after costs | $10,442 | $11,386 | $12,416 |
| Impact on return, per year | 0.58% | 0.58% | 0.58% |
DTFIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $1.2B
- Portfolio turnover (prospectus): 37%
- Securities lending: none during the year
DTFIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| TD SECURITIES (USA) LLC | $206.4M | 21.68% |
| WELLS FARGO SECURITIES, LLC | $183.8M | 19.31% |
| BOFA SECURITIES, INC. | $136.6M | 14.35% |
| MORGAN STANLEY & CO. LLC | $94.1M | 9.89% |
| PIPER SANDLER & CO. | $79.4M | 8.34% |
| J.P. Morgan Securities LLC | $67.6M | 7.10% |
| RBC CAPITAL MARKETS, LLC | $61.3M | 6.44% |
| GOLDMAN SACHS & CO. LLC | $47.3M | 4.97% |
| BARCLAYS CAPITAL, INC. | $38.0M | 4.00% |
| JEFFERIES LLC | $37.3M | 3.92% |
Macquarie Tax-Free USA Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| DTFIX | Institutional Class | 0.55% | none |
| DMTFX | Class A | 0.80% | 4.50% |
| DUSCX | Class C | 1.55% | 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.