NOTAX Fees and Costs — DWS Strategic High Yield Tax-Free Fund, Class A
Data updated: 2026-09-24
The net expense ratio is 0.94%: a 0.44% management fee, a 0.25% 12b-1 fee plus 0.30% other expenses, less a 0.06% fee waiver. This share class carries a maximum front-end sales load of 2.75%. In fiscal 2026 the fund paid $5K in broker commissions, 0.0011% of average net assets, and portfolio turnover was 37%.
NOTAX Fees and Expenses
Annual operating expenses and sales charges of NOTAX. Prospectus, as of September 24, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.44% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.30% |
| Gross expense ratio | 1.00% |
| Fee waiver | −0.06% |
| Net expense ratio | 0.94% |
| Sales charges | |
|---|---|
| Max front load | 2.75% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
NOTAX Costs Over Time
On $10,000 invested in NOTAX, assuming 5% a year before costs, total costs come to $924 over 5 years, cutting the return by 1.57% 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 |
| Sales charges | $275 | $275 | $275 |
| Fund expenses (net expense ratio 0.94%) | $96 | $300 | $520 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $14 | $58 | $129 |
| Total costs | $385 | $633 | $924 |
| Value after costs | $10,115 | $10,943 | $11,839 |
| Impact on return, per year | 3.85% | 1.95% | 1.57% |
NOTAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0011%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $435.7M
- Portfolio turnover (prospectus): 37%
- Securities lending: none during the year
NOTAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JonesTrading Institutional Services LLC | $3K | 67.72% |
| BofA Securities, Inc. | $2K | 32.28% |
NOTAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $149.9M | 36.58% |
| J.P. Morgan Securities LLC | $71.4M | 17.44% |
| BNY Capital Markets, LLC | $47.1M | 11.49% |
| Barclays Capital Inc. | $35.2M | 8.60% |
| BofA Securities, Inc. | $28.9M | 7.05% |
| Goldman Sachs & Co. LLC | $21.2M | 5.17% |
| Wells Fargo Securities, LLC | $20.7M | 5.05% |
| U.S. Bancorp Investments, Inc. | $18.1M | 4.42% |
| RBC Capital Markets, LLC | $11.4M | 2.79% |
| Jefferies LLC | $5.8M | 1.41% |
DWS Strategic High Yield Tax-Free Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| NOTIX | Institutional Class | 0.69% | none |
| SHYTX | Class S | 0.69% | none |
| NOTAX | Class A | 0.94% | 2.75% |
| NOTCX | Class C | 1.69% | 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.