FITEX Fees and Costs — Delaware Tax-Exempt Income Fund, Class R6
Data updated: 2020-11-25
The net expense ratio is 0.62%: a 0.50% management fee plus 0.13% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 39%.
FITEX Fees and Expenses
Annual operating expenses and sales charges of FITEX. Prospectus, as of April 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.13% |
| Gross expense ratio | 0.63% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.62% |
| 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 |
FITEX Costs Over Time
On $10,000 invested in FITEX, assuming 5% a year before costs, total costs come to $391 over 5 years, cutting the return by 0.65% 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 0.62%) | $65 | $204 | $355 |
| Lost growth on money paid in costs | $0 | $10 | $36 |
| Total costs | $65 | $214 | $391 |
| Value after costs | $10,435 | $11,362 | $12,372 |
| Impact on return, per year | 0.65% | 0.65% | 0.65% |
FITEX 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): $157.4M
- Portfolio turnover (prospectus): 39%
- Securities lending: none during the year
FITEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $32.0M | 23.64% |
| MORGAN STANLEY & CO. LLC | $19.2M | 14.17% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $18.0M | 13.29% |
| Siebert Cisneros Shank & Co., L.L.C. | $12.6M | 9.28% |
| CitiGroup Global Markets Inc. | $10.1M | 7.49% |
| B. C. ZIEGLER AND COMPANY | $9.9M | 7.31% |
| BARCLAY INVESTMENTS, INC. | $9.5M | 7.01% |
| JP MORGAN SECURITIES INC. | $8.5M | 6.31% |
| FTN FINANCIAL SECURITIES CORP. | $7.9M | 5.83% |
| SAMUEL A. RAMIREZ & COMPANY, INC. | $7.7M | 5.68% |
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.