DVMMX Fees and Costs — Macquarie Minnesota High-Yield Municipal Bond Fund, Class C
Data updated: 2026-07-27
The net expense ratio is 1.59%: a 0.55% management fee, a 1.00% 12b-1 fee plus 0.21% other expenses, less a 0.17% fee waiver. This share class carries a deferred sales charge of up to 1.00%. Portfolio turnover was 20%.
DVMMX Fees and Expenses
Annual operating expenses and sales charges of DVMMX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 1.00% |
| Other expenses | 0.21% |
| Gross expense ratio | 1.76% |
| Fee waiver | −0.17% |
| Net expense ratio | 1.59% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
DVMMX Costs Over Time
On $10,000 invested in DVMMX, assuming 5% a year before costs, total costs come to $983 over 5 years, cutting the return by 1.67% 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 | $103 | $0 | $0 |
| Fund expenses (net expense ratio 1.59%) | $167 | $518 | $892 |
| Lost growth on money paid in costs | $0 | $26 | $91 |
| Total costs | $270 | $543 | $983 |
| Value after costs | $10,230 | $11,033 | $11,780 |
| Impact on return, per year | 2.70% | 1.67% | 1.67% |
DVMMX 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): $109.4M
- Portfolio turnover (prospectus): 20%
- Securities lending: none during the year
DVMMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| PIPER SANDLER & CO. | $24.9M | 28.57% |
| WELLS FARGO SECURITIES, LLC | $13.2M | 15.12% |
| BARCLAYS CAPITAL, INC. | $12.6M | 14.45% |
| RBC CAPITAL MARKETS, LLC | $8.1M | 9.33% |
| BOFA SECURITIES, INC. | $6.2M | 7.07% |
| TRUIST SECURITIES, INC. | $5.8M | 6.67% |
| STIFEL FINANCIAL CORP. | $4.9M | 5.63% |
| NORTHLAND SECURITIES, INC. | $4.1M | 4.68% |
| MORGAN STANLEY & CO. LLC | $4.0M | 4.56% |
| HILLTOP SECURITIES INC. | $3.4M | 3.93% |
Macquarie Minnesota 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 |
|---|---|---|---|
| DMHIX | Institutional Class | 0.59% | none |
| DVMHX | Class A | 0.84% | 4.50% |
| DVMMX | Class C | 1.59% | 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.