MALLX Fees and Costs — All America Fund, Class
Data updated: 2020-11-24
The net expense ratio is 0.50%: a 0.50% management fee plus 1.90% other expenses, less a 1.90% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $4K in broker commissions, 0.0468% of average net assets, and portfolio turnover was 67%.
MALLX Fees and Expenses
Annual operating expenses and sales charges of MALLX. Prospectus, as of April 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 1.90% |
| Gross expense ratio | 2.40% |
| Fee waiver | −1.90% |
| Net expense ratio | 0.50% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MALLX Costs Over Time
On $10,000 invested in MALLX, assuming 5% a year before costs, total costs come to $345 over 5 years, cutting the return by 0.57% 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 0.50%) | $52 | $165 | $287 |
| Trading costs (broker commissions) | $5 | $15 | $27 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $57 | $189 | $345 |
| Value after costs | $10,443 | $11,387 | $12,418 |
| Impact on return, per year | 0.57% | 0.57% | 0.57% |
MALLX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0468%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $3.0M
- Portfolio turnover (prospectus): 67%
- Securities lending: none during the year
MALLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CREDIT SUISSE SECURITIES (USA) LLC | $1K | 33.32% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $935 | 25.84% |
| BNY MELLON CAPITAL MARKETS, LLC | $403 | 11.15% |
| RAYMOND JAMES FINANCE COMPANY OF CANADA LTD. | $241 | 6.66% |
| J.P. MORGAN SECURITIES LLC | $198 | 5.48% |
| National Financial Services LLC | $157 | 4.35% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $152 | 4.20% |
| Goldman Sachs & Co, LLC | $131 | 3.63% |
| MORGAN STANLEY & CO. LLC | $98 | 2.72% |
| Jefferies LLC | $96 | 2.66% |
MALLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities LLC | $2.7M | 89.95% |
| BNY MELLON CAPITAL MARKETS, LLC | $204K | 6.87% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $87K | 2.91% |
| Brown Brothers Harriman & Co. | $5K | 0.17% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $3K | 0.09% |
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.