RWMIX Fees and Costs — Redwood Managed Municipal Income Fund, Class I
Data updated: 2026-09-28
The net expense ratio is 1.64% (1.70% before fee waivers). There are no sales loads or redemption fees. Portfolio turnover was 596%.
RWMIX Fees and Expenses
Annual operating expenses and sales charges of RWMIX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.36% |
| Gross expense ratio | 1.70% |
| Fee waiver | −0.06% |
| Net expense ratio | 1.64% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
RWMIX Costs Over Time
On $10,000 invested in RWMIX, assuming 5% a year before costs, total costs come to $1,013 over 5 years, cutting the return by 1.72% 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 1.64%) | $172 | $534 | $919 |
| Lost growth on money paid in costs | $0 | $27 | $93 |
| Total costs | $172 | $560 | $1,013 |
| Value after costs | $10,328 | $11,016 | $11,750 |
| Impact on return, per year | 1.72% | 1.72% | 1.72% |
RWMIX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $524.4M
- Portfolio turnover (prospectus): 596%
- Securities lending: none during the year
RWMIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| US Bancorp Investments, Inc. | $522.6M | 99.67% |
| UMB | $1.8M | 0.33% |
Redwood Managed Municipal Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RWMIX | Class I | 1.64% | none |
| RWMNX | Class N | 2.56% | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.