RTLAX Fees and Costs — Tax-Managed U.S. Large Cap Fund, Class A
Data updated: 2026-09-25
The net expense ratio is 1.15%: a 0.63% management fee, a 0.25% 12b-1 fee plus 0.27% 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 $1.5M in broker commissions, 0.0145% of average net assets, and portfolio turnover was 31%.
RTLAX Fees and Expenses
Annual operating expenses and sales charges of RTLAX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.63% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.27% |
| Gross expense ratio | 1.15% |
| Fee waiver | — |
| Net expense ratio | 1.15% |
| 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 |
RTLAX Costs Over Time
On $10,000 invested in RTLAX, assuming 5% a year before costs, total costs come to $1,418 over 5 years, cutting the return by 2.44% 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 1.15%) | $114 | $354 | $614 |
| Trading costs (broker commissions) | $1 | $4 | $8 |
| Lost growth on money paid in costs | $29 | $108 | $222 |
| Total costs | $817 | $1,042 | $1,418 |
| Value after costs | $9,683 | $10,534 | $11,345 |
| Impact on return, per year | 8.17% | 3.25% | 2.44% |
RTLAX 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): 0.0145%
- Total broker commissions: $1.5M
- Bought from dealers (principal trades, not a cost): $1.3B
- Portfolio turnover (prospectus): 31%
- Securities lending: none during the year
RTLAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $553K | 38.00% |
| BNY Capital Markets, LLC | $540K | 37.12% |
| Nomura Securities International, Inc. | $188K | 12.91% |
| Jefferies LLC | $87K | 6.00% |
| Wells Fargo Securities, LLC | $24K | 1.62% |
| Virtu Americas LLC | $23K | 1.55% |
| Goldman Sachs & Co. LLC | $22K | 1.51% |
| Citigroup Global Markets Inc. | $18K | 1.24% |
| UBS Securities LLC | $744 | 0.05% |
RTLAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.3B | 100.00% |
Tax-Managed U.S. Large Cap Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RTMTX | Class M | 0.80% | none |
| RETSX | Class S | 0.90% | none |
| RTLAX | Class A | 1.15% | 5.75% |
| RTLCX | Class C | 1.90% | 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.