RFDAX Fees and Costs — Strategic Bond Fund, Class A
Data updated: 2026-09-25
The net expense ratio is 0.83%: a 0.38% management fee, a 0.25% 12b-1 fee plus 0.30% other expenses, less a 0.10% fee waiver. This share class carries a maximum front-end sales load of 3.75% and a deferred sales charge of up to 1.00%. In fiscal 2025 the fund paid $369K in broker commissions, 0.0185% of average net assets, and portfolio turnover was 56%.
RFDAX Fees and Expenses
Annual operating expenses and sales charges of RFDAX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.38% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.30% |
| Gross expense ratio | 0.93% |
| Fee waiver | −0.10% |
| Net expense ratio | 0.83% |
| Sales charges | |
|---|---|
| Max front load | 3.75% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
RFDAX Costs Over Time
On $10,000 invested in RFDAX, assuming 5% a year before costs, total costs come to $991 over 5 years, cutting the return by 1.68% 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 | $475 | $375 | $375 |
| Fund expenses (net expense ratio 0.83%) | $84 | $262 | $455 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $19 | $72 | $151 |
| Total costs | $580 | $715 | $991 |
| Value after costs | $9,920 | $10,861 | $11,772 |
| Impact on return, per year | 5.80% | 2.21% | 1.68% |
RFDAX 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): 0.0185%
- Total broker commissions: $369K
- Bought from dealers (principal trades, not a cost): $10.5B
- Portfolio turnover (prospectus): 56%
- Securities lending: none during the year
RFDAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $170K | 46.07% |
| J.P. Morgan Securities LLC | $169K | 45.78% |
| Citigroup Global Markets Inc. | $30K | 8.16% |
RFDAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $3.1B | 32.03% |
| J.P. Morgan Securities LLC | $2.1B | 21.61% |
| Morgan Stanley & Co. LLC | $2.1B | 21.58% |
| Barclays Capital Inc. | $878.2M | 9.12% |
| BMO Capital Markets Corp. | $480.7M | 4.99% |
| BofA Securities, Inc. | $459.6M | 4.77% |
| Citigroup Global Markets Inc. | $171.5M | 1.78% |
| Goldman Sachs & Co. LLC | $171.4M | 1.78% |
| Daiwa Capital Markets America Inc. | $120.9M | 1.26% |
| Credit Agricole Securities (USA) Inc. | $104.2M | 1.08% |
Strategic Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RFCYX | Class Y | 0.42% | none |
| RSBRX | Class R6 | 0.45% | none |
| RSYTX | Class M | 0.46% | none |
| RFCTX | Class S | 0.56% | none |
| RFDAX | Class A | 0.83% | 3.75% |
| RFCCX | Class C | 1.58% | 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.