DVHIX Fees and Costs — Macquarie National High-Yield Municipal Bond Fund, Institutional Class
Data updated: 2026-07-27
The net expense ratio is 0.60%: a 0.46% management fee plus 0.14% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 34%.
DVHIX Fees and Expenses
Annual operating expenses and sales charges of DVHIX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.46% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.14% |
| Gross expense ratio | 0.60% |
| Fee waiver | — |
| Net expense ratio | 0.60% |
| 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 | No |
| Waived fees subject to recoupment | No |
DVHIX Costs Over Time
On $10,000 invested in DVHIX, assuming 5% a year before costs, total costs come to $378 over 5 years, cutting the return by 0.63% 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 0.60%) | $63 | $197 | $344 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $63 | $207 | $378 |
| Value after costs | $10,437 | $11,369 | $12,384 |
| Impact on return, per year | 0.63% | 0.63% | 0.63% |
DVHIX 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): $3.0B
- Portfolio turnover (prospectus): 34%
- Securities lending: none during the year
DVHIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| TD SECURITIES (USA) LLC | $579.4M | 23.52% |
| WELLS FARGO SECURITIES, LLC | $544.7M | 22.11% |
| BOFA SECURITIES, INC. | $335.3M | 13.61% |
| MORGAN STANLEY & CO. LLC | $222.5M | 9.03% |
| J.P. Morgan Securities LLC | $177.8M | 7.22% |
| RBC CAPITAL MARKETS, LLC | $144.5M | 5.86% |
| PIPER SANDLER & CO. | $139.1M | 5.65% |
| JEFFERIES LLC | $135.9M | 5.52% |
| GOLDMAN SACHS & CO. LLC | $96.4M | 3.91% |
| STIFEL FINANCIAL CORP. | $87.9M | 3.57% |
Macquarie National High-Yield Municipal Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| DVHIX | Institutional Class | 0.60% | none |
| CXHYX | Class A | 0.85% | 4.50% |
| DVHCX | Class C | 1.60% | 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.