PYHAX Fees and Costs — High Income Fund, Class A
Data updated: 2025-03-25
The net expense ratio is 0.60%: a 0.61% management fee plus 0.01% other expenses, less a 0.02% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $135 in broker commissions, and portfolio turnover was 35%.
PYHAX Fees and Expenses
Annual operating expenses and sales charges of PYHAX. Prospectus, as of February 28, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.61% |
| 12b-1 fee | — |
| Other expenses | 0.01% |
| Gross expense ratio | 0.62% |
| Fee waiver | −0.02% |
| Net expense ratio | 0.60% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
PYHAX Costs Over Time
On $10,000 invested in PYHAX, assuming 5% a year before costs, total costs come to $378 over 5 years, cutting the return by 0.63% 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 0.60%) | $63 | $197 | $344 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $63 | $207 | $378 |
| Value after costs | $10,437 | $11,369 | $12,384 |
| Impact on return, per year | 0.63% | 0.63% | 0.63% |
PYHAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: $135
- Bought from dealers (principal trades, not a cost): $7.5B
- Portfolio turnover (prospectus): 35%
- Securities on loan, average value: $99.3M
- Net income from securities lending: $1.4M (0.045% of average net assets)
PYHAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| NOMURA SECURITIES INTERNATIONAL INC. | $135 | 100.00% |
PYHAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS CO. | $1.7B | 27.61% |
| JEFFERIES & COMPANY | $1.6B | 26.43% |
| MORGAN STANLEY & CO. LLC. | $575.0M | 9.55% |
| BANCAMERICA SECURITIES INC. | $514.8M | 8.55% |
| J.P. MORGAN SECURITIES LLC | $513.4M | 8.53% |
| BARCLAYS CAPITAL INC. | $458.7M | 7.62% |
| CITIGROUP GLOBAL MARKETS | $212.1M | 3.52% |
| OLD MISSION MARKETS LLC | $192.7M | 3.20% |
| UBS SECURITIES LLC | $167.9M | 2.79% |
| NOMURA SECURITIES INTERNATIONAL INC. | $133.3M | 2.21% |
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.