FRFEX Fees and Costs — Delaware Floating Rate II Fund, Institutional Class
Data updated: 2021-08-30
The net expense ratio is 0.80%: a 0.50% management fee plus 0.51% other expenses, less a 0.21% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 176%.
FRFEX Fees and Expenses
Annual operating expenses and sales charges of FRFEX. Prospectus, as of September 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.51% |
| Gross expense ratio | 1.01% |
| Fee waiver | −0.21% |
| Net expense ratio | 0.80% |
| 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 |
FRFEX Costs Over Time
On $10,000 invested in FRFEX, assuming 5% a year before costs, total costs come to $502 over 5 years, cutting the return by 0.84% 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 0.80%) | $84 | $263 | $456 |
| Lost growth on money paid in costs | $0 | $13 | $46 |
| Total costs | $84 | $276 | $502 |
| Value after costs | $10,416 | $11,301 | $12,260 |
| Impact on return, per year | 0.84% | 0.84% | 0.84% |
FRFEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $295.9M
- Portfolio turnover (prospectus): 176%
- Securities lending: none during the year
FRFEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CREDIT SUISSE SECURITIES (USA) LLC | $53.4M | 19.58% |
| J.P. Morgan Securities LLC | $39.8M | 14.59% |
| Bank of America Corporation | $39.3M | 14.40% |
| GOLDMAN SACHS & CO. LLC | $37.9M | 13.89% |
| CitiGroup Global Markets Inc. | $30.2M | 11.09% |
| BARCLAYS CAPITAL, INC. | $21.8M | 7.98% |
| MORGAN STANLEY & CO. LLC | $20.6M | 7.56% |
| WELLS FARGO SECURITIES, LLC | $13.1M | 4.82% |
| JEFFERIES LLC | $10.3M | 3.78% |
| DEUTSCHE BANK SECURITIES, INC. | $6.3M | 2.31% |
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.