RLACX Fees and Costs — U.S. Small Cap Equity Fund, Class A
Data updated: 2026-09-25
The net expense ratio is 1.36%: a 0.70% management fee, a 0.25% 12b-1 fee plus 0.41% other expenses. This share class carries a maximum front-end sales load of 5.75% and a deferred sales charge of up to 1.00%. In fiscal 2025 the fund paid $738K in broker commissions, 0.1089% of average net assets, and portfolio turnover was 85%.
RLACX Fees and Expenses
Annual operating expenses and sales charges of RLACX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.41% |
| Gross expense ratio | 1.36% |
| Fee waiver | — |
| Net expense ratio | 1.36% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| 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 |
RLACX Costs Over Time
On $10,000 invested in RLACX, assuming 5% a year before costs, total costs come to $1,592 over 5 years, cutting the return by 2.76% 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 | $673 | $575 | $575 |
| Fund expenses (net expense ratio 1.36%) | $135 | $418 | $721 |
| Trading costs (broker commissions) | $11 | $33 | $58 |
| Lost growth on money paid in costs | $29 | $113 | $238 |
| Total costs | $847 | $1,139 | $1,592 |
| Value after costs | $9,653 | $10,437 | $11,171 |
| Impact on return, per year | 8.47% | 3.56% | 2.76% |
RLACX 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): 0.1089%
- Total broker commissions: $738K
- Bought from dealers (principal trades, not a cost): $790.6M
- Portfolio turnover (prospectus): 85%
- Securities on loan, average value: $16.9M
- Net income from securities lending: —
RLACX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $291K | 39.75% |
| BNY Capital Markets, LLC | $185K | 25.32% |
| Nomura Securities International, Inc. | $94K | 12.89% |
| Jefferies LLC | $80K | 10.90% |
| Virtu Americas LLC | $31K | 4.20% |
| UBS Securities LLC | $21K | 2.86% |
| Citigroup Global Markets Inc. | $10K | 1.41% |
| Goldman Sachs & Co. LLC | $10K | 1.32% |
| Wells Fargo Securities, LLC | $8K | 1.14% |
| RBC Capital Markets, LLC | $1K | 0.20% |
RLACX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $789.6M | 99.87% |
| Louisiana Court of Appeal, First Circuit | $1.0M | 0.13% |
| Virtu Americas LLC | $966 | 0.00% |
U.S. Small Cap Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| REBYX | Class Y | 0.91% | none |
| RSCRX | Class R6 | 0.94% | none |
| RUNTX | Class M | 0.97% | none |
| RLESX | Class S | 1.07% | none |
| RLACX | Class A | 1.36% | 5.75% |
| RLECX | Class C | 2.11% | 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.