NMHYX Fees and Costs — Multi-Manager High Yield Opportunity Fund
Data updated: 2026-08-28
The net expense ratio is 0.69%: a 0.65% management fee plus 0.13% other expenses, less a 0.10% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $814 in broker commissions, 0.0005% of average net assets, and portfolio turnover was 54%.
NMHYX Fees and Expenses
Annual operating expenses and sales charges of NMHYX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | — |
| Other expenses | 0.13% |
| Gross expense ratio | 0.79% |
| Fee waiver | −0.10% |
| Net expense ratio | 0.69% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
NMHYX Costs Over Time
On $10,000 invested in NMHYX, assuming 5% a year before costs, total costs come to $435 over 5 years, cutting the return by 0.73% 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 0.69%) | $72 | $227 | $395 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $73 | $238 | $435 |
| Value after costs | $10,427 | $11,338 | $12,328 |
| Impact on return, per year | 0.73% | 0.73% | 0.73% |
NMHYX 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): 0.0005%
- Total broker commissions: $814
- Bought from dealers (principal trades, not a cost): $375.3M
- Portfolio turnover (prospectus): 54%
- Securities on loan, average value: $9.7M
- Net income from securities lending: $83K (0.054% of average net assets)
NMHYX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| TOURMALINE PARTNERS, LLC | $597 | 82.21% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $99 | 13.57% |
| INSTINET, LLC | $18 | 2.53% |
| WELLS FARGO SECURITIES, LLC | $11 | 1.53% |
| MERRILL LYNCH INTERNATIONAL | $1 | 0.15% |
NMHYX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $217.3M | 67.52% |
| GOLDMAN SACHS & CO. LLC | $20.7M | 6.45% |
| J.P. MORGAN SECURITIES LLC | $16.5M | 5.12% |
| MARKETAXESS CORPORATION | $12.6M | 3.91% |
| BOFA SECURITIES, INC. | $12.5M | 3.90% |
| CITIGROUP GLOBAL MARKETS INC. | $11.5M | 3.57% |
| MERRILL LYNCH INTERNATIONAL | $9.6M | 3.00% |
| MORGAN STANLEY & CO. LLC | $8.9M | 2.78% |
| BARCLAYS CAPITAL INC. | $6.8M | 2.11% |
| UBS SECURITIES LLC | $5.3M | 1.65% |
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.