GSTEX Fees and Costs — Principal Street High Income Municipal Fund, Investor Class
Data updated: 2024-11-14
The net expense ratio is 1.53% (1.54% before fee waivers). There are no sales loads or redemption fees. Portfolio turnover was 21%.
GSTEX Fees and Expenses
Annual operating expenses and sales charges of GSTEX. Prospectus, as of December 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.50% |
| Other expenses | — |
| Gross expense ratio | 1.54% |
| Fee waiver | −0.01% |
| Net expense ratio | 1.53% |
| 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 | Yes |
GSTEX Costs Over Time
On $10,000 invested in GSTEX, assuming 5% a year before costs, total costs come to $947 over 5 years, cutting the return by 1.61% 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 1.53%) | $161 | $498 | $860 |
| Lost growth on money paid in costs | $0 | $25 | $87 |
| Total costs | $161 | $523 | $947 |
| Value after costs | $10,339 | $11,053 | $11,816 |
| Impact on return, per year | 1.61% | 1.61% | 1.61% |
GSTEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $160.6M
- Portfolio turnover (prospectus): 21%
- Securities lending: none during the year
GSTEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| D.A. DAVIDSON & CO. | $24.9M | 19.19% |
| BNY MELLON CAPITAL MARKETS, LLC | $21.0M | 16.20% |
| J.P. MORGAN SECURITIES INC. | $17.4M | 13.43% |
| WELLS FARGO SECURITIES, LLC | $15.0M | 11.52% |
| PIPER JAFFRAY & CO. | $14.0M | 10.77% |
| RBC CAPITAL MARKETS, LLC | $9.6M | 7.36% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $8.1M | 6.22% |
| HERBERT J. SIMS & CO. INC. | $6.8M | 5.25% |
| MERRILL LYNCH INC. | $6.8M | 5.22% |
| PERSHING LLC | $6.3M | 4.85% |
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.