RYAGX Fees and Costs — Inverse Mid-Cap Strategy Fund, Class A
Data updated: 2026-08-28
The net expense ratio is 1.64%: a 0.90% management fee, a 0.25% 12b-1 fee plus 0.58% other expenses, less a 0.09% fee waiver. This share class carries a maximum front-end sales load of 4.75%. In fiscal 2026 the fund paid $837 in broker commissions, 0.0138% of average net assets, and portfolio turnover was 0%.
RYAGX Fees and Expenses
Annual operating expenses and sales charges of RYAGX. Prospectus, as of July 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.58% |
| Gross expense ratio | 1.73% |
| Fee waiver | −0.09% |
| Net expense ratio | 1.64% |
| 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 |
RYAGX Costs Over Time
On $10,000 invested in RYAGX, assuming 5% a year before costs, total costs come to $1,579 over 5 years, cutting the return by 2.74% 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 1.64%) | $164 | $508 | $875 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $24 | $100 | $221 |
| Total costs | $664 | $1,088 | $1,579 |
| Value after costs | $9,836 | $10,488 | $11,184 |
| Impact on return, per year | 6.64% | 3.40% | 2.74% |
RYAGX 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): 0.0138%
- Total broker commissions: $837
- Bought from dealers (principal trades, not a cost): $1.2B
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
RYAGX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $837 | 100.00% |
RYAGX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $455.4M | 36.80% |
| BARCLAYS CAPITAL, INC. | $251.9M | 20.35% |
| BOFA SECURITIES, INC. | $224.6M | 18.15% |
| GOLDMAN SACHS & CO. LLC | $89.3M | 7.22% |
| BNP PARIBAS SECURITIES CORP. | $60.7M | 4.90% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $51.8M | 4.18% |
| Mizuho Securities USA LLC | $46.0M | 3.72% |
| Academy Securities, Inc. | $25.5M | 2.06% |
| CASTLEOAK SECURITIES, LP | $25.0M | 2.02% |
| CitiGroup Global Markets Inc. | $7.4M | 0.59% |
Inverse Mid-Cap 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 |
|---|---|---|---|
| RYCLX | Class C | 1.59% | none |
| RYAGX | Class A | 1.64% | 4.75% |
| RYMHX | Class H | 1.64% | — |
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.