RYAIX Fees and Costs — Inverse NASDAQ-100 Strategy Fund, Investor Class
Data updated: 2026-08-28
The net expense ratio is 1.47% (1.56% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $107 in broker commissions, 0.0004% of average net assets, and portfolio turnover was 0%.
RYAIX Fees and Expenses
Annual operating expenses and sales charges of RYAIX. Prospectus, as of July 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.64% |
| Gross expense ratio | 1.56% |
| Fee waiver | −0.09% |
| Net expense ratio | 1.47% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
RYAIX Costs Over Time
On $10,000 invested in RYAIX, assuming 5% a year before costs, total costs come to $911 over 5 years, cutting the return by 1.54% 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 1.47%) | $154 | $479 | $827 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $24 | $84 |
| Total costs | $154 | $503 | $911 |
| Value after costs | $10,346 | $11,073 | $11,852 |
| Impact on return, per year | 1.54% | 1.54% | 1.54% |
RYAIX 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): 0.0004%
- Total broker commissions: $107
- Bought from dealers (principal trades, not a cost): $2.4B
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
RYAIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $107 | 100.00% |
RYAIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $903.8M | 37.99% |
| BARCLAYS CAPITAL, INC. | $543.8M | 22.86% |
| BOFA SECURITIES, INC. | $540.9M | 22.74% |
| GOLDMAN SACHS & CO. LLC | $172.1M | 7.23% |
| BNP PARIBAS SECURITIES CORP. | $113.0M | 4.75% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $40.7M | 1.71% |
| CitiGroup Global Markets Inc. | $20.3M | 0.85% |
| Mizuho Securities USA LLC | $16.2M | 0.68% |
| BMO CAPITAL MARKETS CORP. | $15.6M | 0.65% |
| Daiwa Capital Markets America, Inc. | $12.7M | 0.54% |
Inverse NASDAQ-100 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 |
|---|---|---|---|
| RYAIX | Investor Class | 1.47% | — |
| RYAPX | Class A | 1.71% | 4.75% |
| RYALX | Class H | 1.73% | — |
| RYACX | Class C | 2.48% | 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.