EMAYX Fees and Costs — Enterprise Mergers and Acquisitions Fund, Class Y
Data updated: 2026-08-31
The net expense ratio is 1.00%: a 0.94% management fee plus 0.68% other expenses, less a 0.62% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $36K in broker commissions, 0.0725% of average net assets, and portfolio turnover was 100%.
EMAYX Fees and Expenses
Annual operating expenses and sales charges of EMAYX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.94% |
| 12b-1 fee | — |
| Other expenses | 0.68% |
| Gross expense ratio | 1.62% |
| Fee waiver | −0.62% |
| Net expense ratio | 1.00% |
| 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 | Yes |
EMAYX Costs Over Time
On $10,000 invested in EMAYX, assuming 5% a year before costs, total costs come to $670 over 5 years, cutting the return by 1.13% 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 1.00%) | $105 | $327 | $567 |
| Trading costs (broker commissions) | $8 | $24 | $41 |
| Lost growth on money paid in costs | $0 | $17 | $61 |
| Total costs | $113 | $368 | $670 |
| Value after costs | $10,387 | $11,208 | $12,093 |
| Impact on return, per year | 1.13% | 1.13% | 1.13% |
EMAYX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0725%
- Total broker commissions: $36K
- Bought from dealers (principal trades, not a cost): $77.6M
- Portfolio turnover (prospectus): 100%
- Securities lending: none during the year
EMAYX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| THE WOODBRIDGE COMPANY LIMITED | $3K | 28.38% |
| RBC CAPITAL MARKETS, LLC | $2K | 20.84% |
| MORGAN STANLEY & CO. LLC | $1K | 13.15% |
| UBS Securities LLC | $936 | 8.61% |
| BOFA SECURITIES, INC. | $836 | 7.69% |
| PIPER SANDLER & CO. | $656 | 6.03% |
| BARCLAYS CAPITAL, INC. | $553 | 5.09% |
| WELLS FARGO CLEARING SERVICES, LLC | $398 | 3.66% |
| OPPENHEIMER & CO. INC. | $360 | 3.31% |
| CitiGroup Global Markets Inc. | $351 | 3.23% |
EMAYX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BMO Nesbitt Burns Securities Ltd. | $33.3M | 42.93% |
| BARCLAYS CAPITAL, INC. | $24.2M | 31.16% |
| GOLDMAN SACHS & CO. LLC | $8.3M | 10.76% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $6.7M | 8.65% |
| Daiwa Capital Markets America, Inc. | $5.0M | 6.50% |
| STATE STREET GLOBAL MARKETS, LLC | $1K | 0.00% |
Enterprise Mergers and Acquisitions Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| EMAYX | Class Y | 1.00% | none |
| EAAAX | Class Aaa | 1.87% | none |
| EMAAX | Class A | 1.87% | 5.75% |
| EMACX | Class C | 2.62% | 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.