FEHIX Fees and Costs — First Eagle High Yield Municipal Fund, Class I
Data updated: 2026-09-28
The net expense ratio is 1.36%: a 0.45% management fee plus 0.91% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 82%.
FEHIX Fees and Expenses
Annual operating expenses and sales charges of FEHIX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.91% |
| Gross expense ratio | 1.36% |
| Fee waiver | — |
| Net expense ratio | 1.36% |
| 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 |
FEHIX Costs Over Time
On $10,000 invested in FEHIX, assuming 5% a year before costs, total costs come to $845 over 5 years, cutting the return by 1.43% 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 1.36%) | $143 | $444 | $767 |
| Lost growth on money paid in costs | $0 | $22 | $78 |
| Total costs | $143 | $466 | $845 |
| Value after costs | $10,357 | $11,110 | $11,918 |
| Impact on return, per year | 1.43% | 1.43% | 1.43% |
FEHIX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $17.6B
- Portfolio turnover (prospectus): 82%
- Securities lending: none during the year
FEHIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $4.8B | 32.83% |
| Morgan Stanley & Co. LLC | $2.3B | 15.59% |
| Barclays Capital, Inc. | $2.0B | 13.59% |
| FMSBONDS, INC. | $1.6B | 10.88% |
| Wells Fargo Securities, LLC | $1.0B | 7.07% |
| RBC Capital Markets, LLC | $859.3M | 5.90% |
| Truist Securities, Inc. | $663.5M | 4.56% |
| BofA Securities, Inc. | $651.6M | 4.48% |
| D.A. Davidson & Co. | $388.1M | 2.67% |
| Goldman Sachs & Co. LLC | $355.4M | 2.44% |
First Eagle High Yield Municipal Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FEHTX | C000182929 | 1.15% | 2.50% |
| FEHRX | Class R6 | 1.28% | none |
| FEHIX | Class I | 1.36% | none |
| FEHAX | Class A | 1.58% | 2.50% |
| FERHX | Class R5 | 1.69% | none |
| FIHRX | Class R4 | 1.79% | none |
| EARHX | Class R3 | 2.04% | none |
| FEHCX | Class C | 2.34% | 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.