IMHIX Fees and Costs — Delaware Ivy California Municipal High Income Fund, Class I
Data updated: 2023-08-29
The net expense ratio is 0.55%: a 0.53% management fee plus 0.92% other expenses, less a 0.90% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 28%.
IMHIX Fees and Expenses
Annual operating expenses and sales charges of IMHIX. Prospectus, as of September 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.53% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.92% |
| Gross expense ratio | 1.45% |
| Fee waiver | −0.90% |
| Net expense ratio | 0.55% |
| 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 |
IMHIX Costs Over Time
On $10,000 invested in IMHIX, assuming 5% a year before costs, total costs come to $347 over 5 years, cutting the return by 0.58% 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 0.55%) | $58 | $181 | $315 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $58 | $190 | $347 |
| Value after costs | $10,442 | $11,386 | $12,416 |
| Impact on return, per year | 0.58% | 0.58% | 0.58% |
IMHIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2022.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $4.9M
- Portfolio turnover (prospectus): 28%
- Securities lending: none during the year
IMHIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $1.9M | 38.57% |
| BOFA SECURITIES, INC. | $808K | 16.60% |
| JEFFERIES LLC | $684K | 14.05% |
| STIFEL, NICHOLAUS & CO, INC | $431K | 8.87% |
| BARCLAYS CAPITAL, INC. | $400K | 8.22% |
| TD SECURITIES (USA) LLC | $300K | 6.17% |
| CitiGroup Global Markets Inc. | $280K | 5.76% |
| J.P. Morgan Securities LLC | $51K | 1.05% |
| CANTOR FITZGERALD & CO. | $35K | 0.72% |
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.