GIJAX Fees and Costs — Guggenheim Municipal Income Fund, Class A
Data updated: 2026-08-31
The net expense ratio is 0.78%: a 0.50% management fee, a 0.25% 12b-1 fee plus 0.90% other expenses, less a 0.87% fee waiver. This share class carries a maximum front-end sales load of 4.00%. In fiscal 2025 the fund paid $0 in broker commissions, and portfolio turnover was 39%.
GIJAX Fees and Expenses
Annual operating expenses and sales charges of GIJAX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.90% |
| Gross expense ratio | 1.65% |
| Fee waiver | −0.87% |
| Net expense ratio | 0.78% |
| Sales charges | |
|---|---|
| Max front load | 4.00% |
| 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 |
GIJAX Costs Over Time
On $10,000 invested in GIJAX, assuming 5% a year before costs, total costs come to $981 over 5 years, cutting the return by 1.67% 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 | $400 | $400 | $400 |
| Fund expenses (net expense ratio 0.78%) | $79 | $246 | $427 |
| Lost growth on money paid in costs | $20 | $75 | $154 |
| Total costs | $499 | $721 | $981 |
| Value after costs | $10,001 | $10,855 | $11,782 |
| Impact on return, per year | 4.99% | 2.23% | 1.67% |
GIJAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: $0
- Bought from dealers (principal trades, not a cost): $35.4M
- Portfolio turnover (prospectus): 39%
- Securities lending: none during the year
GIJAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $0 | 100.00% |
GIJAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $6.6M | 21.14% |
| Morgan Stanley & Co. LLC | $4.9M | 15.67% |
| WELLS FARGO SECURITIES, LLC | $3.9M | 12.35% |
| J.P. MORGAN SECURITIES LLC | $3.3M | 10.69% |
| Stifel, Nicolaus & Company, Incorporated | $2.5M | 7.97% |
| RBC Capital Markets, LLC | $2.5M | 7.89% |
| Raymond James & Associates, Inc. | $2.3M | 7.41% |
| JEFFERIES LLC | $2.3M | 7.26% |
| GOLDMAN SACHS & CO. LLC | $1.8M | 5.75% |
| Samuel A. Ramirez & Company, Inc. | $1.2M | 3.87% |
Guggenheim Municipal Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| GIJIX | Institutional Class | 0.53% | none |
| GIJAX | Class A | 0.78% | 4.00% |
| GIJPX | Class P | 0.78% | none |
| GIJCX | Class C | 1.53% | 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.