FICLX Fees and Costs — Delaware Tax-Free California II Fund, Class R6
Data updated: 2020-11-25
The net expense ratio is 0.65%: a 0.55% management fee plus 0.39% other expenses, less a 0.29% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 40%.
FICLX Fees and Expenses
Annual operating expenses and sales charges of FICLX. Prospectus, as of April 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.39% |
| Gross expense ratio | 0.94% |
| Fee waiver | −0.29% |
| Net expense ratio | 0.65% |
| 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 |
FICLX Costs Over Time
On $10,000 invested in FICLX, assuming 5% a year before costs, total costs come to $409 over 5 years, cutting the return by 0.68% 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 0.65%) | $68 | $214 | $372 |
| Lost growth on money paid in costs | $0 | $11 | $37 |
| Total costs | $68 | $224 | $409 |
| Value after costs | $10,432 | $11,352 | $12,353 |
| Impact on return, per year | 0.68% | 0.68% | 0.68% |
FICLX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $8.7M
- Portfolio turnover (prospectus): 40%
- Securities lending: none during the year
FICLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| HILLTOP SECURITIES INC. | $2.5M | 28.36% |
| BARCLAY INVESTMENTS, INC. | $1.8M | 21.35% |
| JP MORGAN SECURITIES INC. | $1.3M | 15.01% |
| CitiGroup Global Markets Inc. | $1.1M | 12.94% |
| The Toronto-Dominion Bank | $1.1M | 12.70% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $470K | 5.43% |
| FMSBONDS, INC. | $250K | 2.89% |
| GOLDMAN SACHS & CO. LLC | $116K | 1.33% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.