PHIAX Fees and Costs — PACE High Yield Investments, Class A
Data updated: 2026-10-13
The net expense ratio is 1.06% (1.26% before fee waivers). This share class carries a maximum front-end sales load of 3.75%. In fiscal 2026 the fund paid $886 in broker commissions, 0.0005% of average net assets, and portfolio turnover was 62%.
PHIAX Fees and Expenses
Annual operating expenses and sales charges of PHIAX. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | — |
| Gross expense ratio | 1.26% |
| Fee waiver | −0.20% |
| Net expense ratio | 1.06% |
| Sales charges | |
|---|---|
| Max front load | 3.75% |
| Max deferred load | 0.00% |
| Redemption fee | — |
PHIAX Costs Over Time
On $10,000 invested in PHIAX, assuming 5% a year before costs, total costs come to $1,116 over 5 years, cutting the return by 1.90% 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 | $375 | $375 | $375 |
| Fund expenses (net expense ratio 1.06%) | $107 | $334 | $579 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $19 | $76 | $162 |
| Total costs | $501 | $785 | $1,116 |
| Value after costs | $9,999 | $10,791 | $11,647 |
| Impact on return, per year | 5.01% | 2.43% | 1.90% |
PHIAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0005%
- Total broker commissions: $886
- Bought from dealers (principal trades, not a cost): $243.6M
- Portfolio turnover (prospectus): 62%
PHIAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Euroclear Bank | $714 | 80.66% |
| Stifel, Nicolaus & Company, Incorporated | $171 | 19.34% |
PHIAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $68.5M | 34.93% |
| J.P. Morgan Securities LLC | $19.9M | 10.16% |
| Goldman Sachs & Co. LLC | $18.0M | 9.20% |
| BofA Securities, Inc. | $16.9M | 8.61% |
| Citigroup Global Markets Inc. | $15.1M | 7.68% |
| BNP Paribas Securities Corp. | $15.0M | 7.64% |
| Deutsche Bank Securities Inc. | $13.1M | 6.65% |
| Morgan Stanley & Co. LLC | $10.9M | 5.54% |
| Jefferies LLC | $9.8M | 5.01% |
| Barclays Capital Inc. | $9.0M | 4.57% |
PACE High Yield Investments Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PHDTX | Class P2 | 0.57% | none |
| PHDYX | Class Y | 0.88% | none |
| PHYPX | Class P | 0.88% | none |
| PHIAX | Class A | 1.06% | 3.75% |
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.