RSMAX Fees and Costs — RBC Emerging Markets Small Cap Equity Fund, Class A
Data updated: 2021-08-24
The net expense ratio is 1.50%: a 1.04% management fee, a 0.25% 12b-1 fee plus 2.82% other expenses, less a 2.62% fee waiver. This share class carries a maximum front-end sales load of 5.75% and a redemption fee of 2.00%. In fiscal 2021 the fund paid $5K in broker commissions, 0.0519% of average net assets, and portfolio turnover was 24%.
RSMAX Fees and Expenses
Annual operating expenses and sales charges of RSMAX. Prospectus, as of July 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.04% |
| 12b-1 fee | 0.25% |
| Other expenses | 2.82% |
| Gross expense ratio | 4.12% |
| Fee waiver | −2.62% |
| Net expense ratio | 1.50% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
RSMAX Costs Over Time
On $10,000 invested in RSMAX, assuming 5% a year before costs, total costs come to $1,639 over 5 years, cutting the return by 2.85% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.50%) | $148 | $461 | $794 |
| Trading costs (broker commissions) | $5 | $16 | $27 |
| Lost growth on money paid in costs | $29 | $114 | $242 |
| Total costs | $757 | $1,166 | $1,639 |
| Value after costs | $9,743 | $10,410 | $11,124 |
| Impact on return, per year | 7.57% | 3.65% | 2.85% |
RSMAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0519%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $3.6M
- Portfolio turnover (prospectus): 24%
- Securities lending: none during the year
RSMAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CLSA SINGAPORE PTE LTD | $1K | 26.92% |
| MORGAN STANLEY & CO. LLC | $666 | 16.79% |
| J.P. Morgan Securities LLC | $466 | 11.75% |
| UBS Securities LLC | $377 | 9.50% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $360 | 9.07% |
| GOLDMAN SACHS & CO. LLC | $316 | 7.97% |
| CREDIT SUISSE SECURITIES (USA) LLC | $287 | 7.23% |
| Kotak Securities Limited | $159 | 4.01% |
| HSBC SECURITIES (USA) INC. | $151 | 3.81% |
| Banco Santander, S.A. | $117 | 2.95% |
RSMAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. Government Money Market Fund | $3.6M | 99.77% |
| Banco Santander, S.A. | $8K | 0.23% |
| Credit Suisse Securities (USA) LLC | $8 | 0.00% |
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.