MENYX Fees and Costs — Madison Covered Call & Equity Income Fund, Class Y
Data updated: 2026-09-17
The net expense ratio is 1.04%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $170K in broker commissions, 0.0796% of average net assets, and portfolio turnover was 78%.
MENYX Fees and Expenses
Annual operating expenses and sales charges of MENYX. Prospectus, as of February 28, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | — |
| Other expenses | 0.16% |
| Gross expense ratio | 1.04% |
| Fee waiver | — |
| Net expense ratio | 1.04% |
| 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 |
MENYX Costs Over Time
On $10,000 invested in MENYX, assuming 5% a year before costs, total costs come to $699 over 5 years, cutting the return by 1.18% 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 1.04%) | $109 | $340 | $589 |
| Trading costs (broker commissions) | $8 | $26 | $45 |
| Lost growth on money paid in costs | $0 | $18 | $64 |
| Total costs | $118 | $384 | $699 |
| Value after costs | $10,382 | $11,192 | $12,064 |
| Impact on return, per year | 1.18% | 1.18% | 1.18% |
MENYX 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): 0.0796%
- Total broker commissions: $170K
- Bought from dealers (principal trades, not a cost): $11.5B
- Portfolio turnover (prospectus): 78%
- Securities on loan, average value: $901K
- Net income from securities lending: $2K (0.001% of average net assets)
MENYX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $109K | 64.48% |
| William Blair & Company, L.L.C. | $17K | 10.22% |
| SG Americas Securities, LLC | $16K | 9.28% |
| Robert W. Baird & Co. Incorporated | $9K | 5.56% |
| Capital Institutional Services, Inc. | $7K | 3.93% |
| RBC Capital Markets, LLC | $5K | 3.02% |
| Kezar Trading, LLC | $3K | 1.48% |
| J.P. Morgan Securities LLC | $2K | 1.32% |
| Morgan Stanley & Co. LLC | $1K | 0.71% |
MENYX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $11.5B | 99.99% |
| BofA Securities, Inc. | $675K | 0.01% |
Madison Covered Call & Equity Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MENRX | Class R6 | 0.91% | none |
| MENIX | Class I | 0.99% | none |
| MENYX | Class Y | 1.04% | none |
| MENAX | Class A | 1.28% | 5.75% |
| MENCX | Class C | 2.05% | none |
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.