PCYAX Fees and Costs — PCS Commodity Strategy Fund, Class A
Data updated: 2021-01-27
The net expense ratio is 1.36%: a 0.79% management fee, a 0.25% 12b-1 fee plus 0.74% other expenses, less a 0.43% fee waiver. This share class carries a maximum front-end sales load of 5.50%, a deferred sales charge of up to 1.00% and a redemption fee of 1.00%. In fiscal 2020 the fund paid $29K in broker commissions, 0.1212% of average net assets, and portfolio turnover was 0%.
PCYAX Fees and Expenses
Annual operating expenses and sales charges of PCYAX. Prospectus, as of December 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.79% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.74% |
| Gross expense ratio | 1.79% |
| Fee waiver | −0.43% |
| Net expense ratio | 1.36% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| Max deferred load | 1.00% |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
PCYAX Costs Over Time
On $10,000 invested in PCYAX, assuming 5% a year before costs, total costs come to $1,569 over 5 years, cutting the return by 2.72% 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 | $648 | $550 | $550 |
| Fund expenses (net expense ratio 1.36%) | $135 | $419 | $723 |
| Trading costs (broker commissions) | $12 | $37 | $64 |
| Lost growth on money paid in costs | $27 | $109 | $232 |
| Total costs | $822 | $1,116 | $1,569 |
| Value after costs | $9,678 | $10,461 | $11,194 |
| Impact on return, per year | 8.22% | 3.49% | 2.72% |
PCYAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.1212%
- Total broker commissions: $29K
- Bought from dealers (principal trades, not a cost): $503.2M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
PCYAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Royal Bank of Canada | $28K | 95.17% |
| ADM Investor Sevices, Inc. | $1K | 4.83% |
PCYAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Royal Bank of Canada | $455.7M | 90.55% |
| Wells Fargo Bank | $46.2M | 9.18% |
| ADM Investor Sevices, Inc. | $1.4M | 0.27% |
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.