NCITX Fees and Costs — California Intermediate Tax-Exempt Fund
Data updated: 2026-08-28
The net expense ratio is 0.45%: a 0.43% management fee plus 0.09% other expenses, less a 0.07% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 33%.
NCITX Fees and Expenses
Annual operating expenses and sales charges of NCITX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.43% |
| 12b-1 fee | — |
| Other expenses | 0.09% |
| Gross expense ratio | 0.52% |
| Fee waiver | −0.07% |
| Net expense ratio | 0.45% |
| 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 |
NCITX Costs Over Time
On $10,000 invested in NCITX, assuming 5% a year before costs, total costs come to $285 over 5 years, cutting the return by 0.47% 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 0.45%) | $47 | $148 | $259 |
| Lost growth on money paid in costs | $0 | $7 | $26 |
| Total costs | $47 | $156 | $285 |
| Value after costs | $10,453 | $11,421 | $12,478 |
| Impact on return, per year | 0.47% | 0.47% | 0.47% |
NCITX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $435.9M
- Portfolio turnover (prospectus): 33%
- Securities lending: none during the year
NCITX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $234.1M | 61.63% |
| MORGAN STANLEY & CO. LLC | $32.0M | 8.42% |
| J.P. MORGAN SECURITIES LLC | $24.7M | 6.49% |
| RBC CAPITAL MARKETS, LLC | $19.7M | 5.17% |
| WELLS FARGO SECURITIES, LLC | $19.5M | 5.14% |
| GOLDMAN SACHS & CO. LLC | $13.6M | 3.59% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $9.6M | 2.53% |
| MESIROW FINANCIAL, INC. | $9.2M | 2.42% |
| JEFFERIES LLC. | $8.8M | 2.31% |
| BARCLAYS CAPITAL INC. | $8.7M | 2.30% |
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.