ORTFX Fees and Costs — NYLI MacKay Oregon Muni Fund, Class Z
Data updated: 2026-09-23
The net expense ratio is 0.69%: a 0.45% management fee, a 0.15% 12b-1 fee plus 0.09% other expenses. This share class carries a maximum front-end sales load of 3.00%. In fiscal 2025 the fund paid $2K in broker commissions, 0.0005% of average net assets, and portfolio turnover was 64%.
ORTFX Fees and Expenses
Annual operating expenses and sales charges of ORTFX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.15% |
| Other expenses | 0.09% |
| Gross expense ratio | 0.69% |
| Fee waiver | — |
| Net expense ratio | 0.69% |
| Sales charges | |
|---|---|
| Max front load | 3.00% |
| 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 |
ORTFX Costs Over Time
On $10,000 invested in ORTFX, assuming 5% a year before costs, total costs come to $804 over 5 years, cutting the return by 1.36% 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 | $300 | $300 | $300 |
| Fund expenses (net expense ratio 0.69%) | $70 | $220 | $383 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $15 | $58 | $121 |
| Total costs | $385 | $578 | $804 |
| Value after costs | $10,115 | $10,998 | $11,958 |
| Impact on return, per year | 3.85% | 1.78% | 1.36% |
ORTFX 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): 0.0005%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $724.1M
- Portfolio turnover (prospectus): 64%
- Securities lending: none during the year
ORTFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $2K | 100.00% |
ORTFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $351.0M | 56.78% |
| Piper Sandler & Co. | $50.0M | 8.09% |
| Pershing LLC | $49.0M | 7.92% |
| Morgan Stanley & Co. LLC | $37.3M | 6.04% |
| Wells Fargo Securities, LLC | $30.4M | 4.92% |
| BofA Securities, Inc. | $27.4M | 4.43% |
| Raymond James & Associates, Inc. | $25.3M | 4.10% |
| Stifel, Nicolaus & Company, Incorporated | $16.7M | 2.70% |
| InspereX LLC | $16.0M | 2.59% |
| Goldman Sachs & Co. LLC | $15.1M | 2.44% |
NYLI MacKay Oregon Muni Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ORTYX | Class I | 0.54% | none |
| ORTFX | Class Z | 0.69% | 3.00% |
| ORTBX | Class A | 0.79% | 3.00% |
| ORTCX | Class C | 1.10% | 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.