MIPAX Fees and Costs — BNY Mellon Pennsylvania Intermediate Municipal Bond Fund, Investor Shares
Data updated: 2025-07-29
The net expense ratio is 0.84%: a 0.50% management fee plus 0.57% other expenses, less a 0.23% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $26 in broker commissions, and portfolio turnover was 78%.
MIPAX Fees and Expenses
Annual operating expenses and sales charges of MIPAX. Prospectus, as of August 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.57% |
| Gross expense ratio | 1.07% |
| Fee waiver | −0.23% |
| Net expense ratio | 0.84% |
| 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 |
MIPAX Costs Over Time
On $10,000 invested in MIPAX, assuming 5% a year before costs, total costs come to $527 over 5 years, cutting the return by 0.88% 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 0.84%) | $88 | $276 | $479 |
| Lost growth on money paid in costs | $0 | $14 | $48 |
| Total costs | $88 | $289 | $527 |
| Value after costs | $10,412 | $11,287 | $12,236 |
| Impact on return, per year | 0.88% | 0.88% | 0.88% |
MIPAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: $26
- Bought from dealers (principal trades, not a cost): $155.8M
- Portfolio turnover (prospectus): 78%
- Securities lending: none during the year
MIPAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $26 | 100.00% |
MIPAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| TD SECURITIES (USA) LLC | $37.9M | 27.08% |
| WELLS FARGO SECURITIES, LLC | $30.0M | 21.45% |
| MORGAN STANLEY & CO. LLC | $21.0M | 15.04% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $16.4M | 11.70% |
| PIPER JAFFRAY & CO. | $11.2M | 7.98% |
| GOLDMAN SACHS & CO. LLC | $6.3M | 4.49% |
| RAYMOND JAMES & ASSOCIATES, INC. | $5.5M | 3.97% |
| BARCLAYS CAPITAL INC. | $5.0M | 3.59% |
| J.P. MORGAN SECURITIES LLC | $4.1M | 2.92% |
| CITADEL SECURITIES LLC | $2.5M | 1.78% |
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.