RYAFX Fees and Costs — Inverse Russell 2000 Strategy Fund, Class A
Data updated: 2026-08-28
The net expense ratio is 1.70% (1.83% before fee waivers). This share class carries a maximum front-end sales load of 4.75%. In fiscal 2026 the fund paid $356 in broker commissions, 0.0195% of average net assets, and portfolio turnover was 0%.
RYAFX Fees and Expenses
Annual operating expenses and sales charges of RYAFX. Prospectus, as of July 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.60% |
| Gross expense ratio | 1.83% |
| Fee waiver | −0.13% |
| Net expense ratio | 1.70% |
| Sales charges | |
|---|---|
| Max front load | 4.75% |
| 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 | No |
RYAFX Costs Over Time
On $10,000 invested in RYAFX, assuming 5% a year before costs, total costs come to $1,616 over 5 years, cutting the return by 2.80% 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 | $475 | $475 |
| Fund expenses (net expense ratio 1.70%) | $170 | $527 | $906 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $24 | $101 | $224 |
| Total costs | $671 | $1,109 | $1,616 |
| Value after costs | $9,829 | $10,467 | $11,147 |
| Impact on return, per year | 6.71% | 3.47% | 2.80% |
RYAFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0195%
- Total broker commissions: $356
- Bought from dealers (principal trades, not a cost): $923.9M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
RYAFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $356 | 100.00% |
RYAFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS CAPITAL, INC. | $249.4M | 27.15% |
| J.P. Morgan Securities LLC | $241.0M | 26.23% |
| BOFA SECURITIES, INC. | $146.7M | 15.97% |
| GOLDMAN SACHS & CO. LLC | $98.1M | 10.67% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $59.0M | 6.42% |
| BMO CAPITAL MARKETS CORP. | $36.8M | 4.00% |
| Academy Securities, Inc. | $32.0M | 3.48% |
| BNP PARIBAS SECURITIES CORP. | $30.0M | 3.27% |
| CASTLEOAK SECURITIES, LP | $20.0M | 2.18% |
| CitiGroup Global Markets Inc. | $5.8M | 0.64% |
Inverse Russell 2000 Strategy Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RYAFX | Class A | 1.70% | 4.75% |
| RYSHX | Class H | 1.70% | — |
| RYCQX | Class C | 2.46% | 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.