IIREX Fees and Costs — Delaware Ivy Proshares Interest Rate Hedged High Yield Index Fund, Class E
Data updated: 2022-08-26
The net expense ratio is 0.81%: a 0.50% management fee, a 0.25% 12b-1 fee plus 0.62% other expenses, less a 0.56% fee waiver. This share class carries a maximum front-end sales load of 2.50% and a deferred sales charge of up to 1.00%. In fiscal 2021 the fund paid $3K in broker commissions, 0.0079% of average net assets, and portfolio turnover was 54%.
IIREX Fees and Expenses
Annual operating expenses and sales charges of IIREX. Prospectus, as of September 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.62% |
| Gross expense ratio | 1.37% |
| Fee waiver | −0.56% |
| Net expense ratio | 0.81% |
| Sales charges | |
|---|---|
| Max front load | 2.50% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
IIREX Costs Over Time
On $10,000 invested in IIREX, assuming 5% a year before costs, total costs come to $820 over 5 years, cutting the return by 1.38% 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 | $352 | $250 | $250 |
| Fund expenses (net expense ratio 0.81%) | $83 | $259 | $450 |
| Trading costs (broker commissions) | $1 | $3 | $4 |
| Lost growth on money paid in costs | $13 | $52 | $115 |
| Total costs | $448 | $564 | $820 |
| Value after costs | $10,052 | $11,012 | $11,943 |
| Impact on return, per year | 4.48% | 1.73% | 1.38% |
IIREX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0079%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $68.5M
- Portfolio turnover (prospectus): 54%
- Securities lending: none during the year
IIREX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets | $3K | 100.00% |
IIREX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets, LLC | $27.9M | 42.93% |
| MarketAxess Corp. | $9.0M | 13.86% |
| Merrill Lynch, Pierce, Fenner, and Smith Inc. | $5.4M | 8.37% |
| Citigroup Global Markets Inc. | $4.0M | 6.09% |
| Goldman Sachs and Co. LLC | $3.9M | 5.93% |
| Morgan Stanley Smith and Barney LLC | $3.7M | 5.67% |
| J.P. Morgan Securities Inc. | $3.6M | 5.51% |
| Jane Street Capital, LLC | $3.4M | 5.26% |
| Jefferies and Company Inc. | $2.4M | 3.70% |
| Barclays Capital Inc. | $1.7M | 2.69% |
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.