POMFX Fees and Costs — Opportunistic Municipal Fund, Institutional Class
Data updated: 2026-07-24
The net expense ratio is 0.80%: a 0.44% management fee plus 0.41% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $300 in broker commissions, 0.0002% of average net assets, and portfolio turnover was 86%.
POMFX Fees and Expenses
Annual operating expenses and sales charges of POMFX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.44% |
| 12b-1 fee | — |
| Other expenses | 0.41% |
| Gross expense ratio | 0.85% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.80% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
POMFX Costs Over Time
On $10,000 invested in POMFX, assuming 5% a year before costs, total costs come to $503 over 5 years, cutting the return by 0.84% 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 0.80%) | $84 | $263 | $456 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $13 | $46 |
| Total costs | $84 | $276 | $503 |
| Value after costs | $10,416 | $11,301 | $12,260 |
| Impact on return, per year | 0.84% | 0.84% | 0.84% |
POMFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0002%
- Total broker commissions: $300
- Bought from dealers (principal trades, not a cost): $319.3M
- Portfolio turnover (prospectus): 86%
- Securities lending: none during the year
POMFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS CAPITAL INC. | $300 | 100.00% |
POMFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $56.5M | 22.51% |
| BARCLAYS CAPITAL INC. | $52.7M | 20.99% |
| MORGAN STANLEY & CO. LLC. | $30.2M | 12.05% |
| RBC DOMINION SECURITIES CORP. | $23.6M | 9.39% |
| MERRILL LYNCH PIERCE FENNER & SMITH | $21.6M | 8.60% |
| WELLS FARGO SECURITIES LLC | $16.8M | 6.69% |
| ZIEGLER SECURITIES | $13.0M | 5.17% |
| PIPER SANDLER COS | $12.6M | 5.01% |
| TD BANK FINANCIAL GROUP | $12.3M | 4.90% |
| FMS BONDS/FIRST MIAMI SECURITIES | $11.8M | 4.69% |
Opportunistic Municipal Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| POMFX | Institutional Class | 0.80% | none |
| PMOAX | Class A | 1.07% | 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.