GTFHX Fees and Costs — Madison Tax-Free National Fund, Class Y
Data updated: 2026-09-17
The net expense ratio is 0.61%: a 0.40% management fee plus 0.21% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 9%.
GTFHX Fees and Expenses
Annual operating expenses and sales charges of GTFHX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.21% |
| Gross expense ratio | 0.61% |
| Fee waiver | — |
| Net expense ratio | 0.61% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
GTFHX Costs Over Time
On $10,000 invested in GTFHX, assuming 5% a year before costs, total costs come to $385 over 5 years, cutting the return by 0.64% 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 0.61%) | $64 | $201 | $349 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $64 | $211 | $385 |
| Value after costs | $10,436 | $11,366 | $12,378 |
| Impact on return, per year | 0.64% | 0.64% | 0.64% |
GTFHX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $4.1M
- Portfolio turnover (prospectus): 9%
- Securities lending: none during the year
GTFHX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY Capital Markets, LLC | $1.4M | 33.79% |
| Oppenheimer & Co. Inc. | $1.2M | 28.54% |
| D.A. Davidson & Co. | $536K | 13.21% |
| Stonex Financial Inc. | $360K | 8.88% |
| Millennium Advisors, LLC | $281K | 6.92% |
| RBC Capital Markets, LLC | $252K | 6.21% |
| Wells Fargo Securities, LLC | $99K | 2.45% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.