FRCCX Fees and Costs — Delaware Covered Call Strategy Fund, Class A
Data updated: 2024-05-28
The net expense ratio is 1.31%: a 0.80% management fee, a 0.25% 12b-1 fee plus 0.27% other expenses, less a 0.01% fee waiver. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2023 the fund paid $179K in broker commissions, 0.1794% of average net assets, and portfolio turnover was 10%.
FRCCX Fees and Expenses
Annual operating expenses and sales charges of FRCCX. Prospectus, as of September 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.27% |
| Gross expense ratio | 1.32% |
| Fee waiver | −0.01% |
| Net expense ratio | 1.31% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| 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 |
FRCCX Costs Over Time
On $10,000 invested in FRCCX, assuming 5% a year before costs, total costs come to $1,603 over 5 years, cutting the return by 2.78% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.31%) | $130 | $402 | $694 |
| Trading costs (broker commissions) | $18 | $55 | $95 |
| Lost growth on money paid in costs | $29 | $113 | $239 |
| Total costs | $751 | $1,146 | $1,603 |
| Value after costs | $9,749 | $10,430 | $11,159 |
| Impact on return, per year | 7.51% | 3.59% | 2.78% |
FRCCX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.1794%
- Total broker commissions: $179K
- Bought from dealers (principal trades, not a cost): $63K
- Portfolio turnover (prospectus): 10%
- Securities lending: none during the year
FRCCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $52K | 29.30% |
| STONEX FINANCIAL INC. | $39K | 21.74% |
| SUSQUEHANNA FINANCIAL GROUP, LLLP | $34K | 19.03% |
| Raymond James & Associates, Inc. | $18K | 10.02% |
| DASH FINANCIAL TECHNOLOGIES LLC | $14K | 7.92% |
| EXANE, INC. | $11K | 6.37% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $8K | 4.71% |
| SUSQUEHANNA INVESTMENT GROUP | $2K | 0.90% |
FRCCX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Dash Financial Technologies LLC | $63K | 100.00% |
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.