RYAZX Fees and Costs — S&P SmallCap 600 Pure Value Fund, Class H
Data updated: 2026-08-28
The net expense ratio is 1.56%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.59% other expenses, less a 0.03% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $184K in broker commissions, 2.1451% of average net assets, and portfolio turnover was 1058%.
RYAZX Fees and Expenses
Annual operating expenses and sales charges of RYAZX. Prospectus, as of July 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.59% |
| Gross expense ratio | 1.59% |
| Fee waiver | −0.03% |
| Net expense ratio | 1.56% |
| 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 |
RYAZX Costs Over Time
On $10,000 invested in RYAZX, assuming 5% a year before costs, total costs come to $2,196 over 5 years, cutting the return by 3.89% 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 1.56%) | $164 | $497 | $837 |
| Trading costs (broker commissions) | $225 | $683 | $1,151 |
| Lost growth on money paid in costs | $0 | $60 | $207 |
| Total costs | $389 | $1,240 | $2,196 |
| Value after costs | $10,111 | $10,337 | $10,567 |
| Impact on return, per year | 3.89% | 3.89% | 3.89% |
RYAZX 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): 2.1451%
- Total broker commissions: $184K
- Bought from dealers (principal trades, not a cost): $17.3M
- Portfolio turnover (prospectus): 1058%
- Securities on loan, average value: $38K
- Net income from securities lending: $555 (0.006% of average net assets)
RYAZX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $170K | 92.14% |
| BTIG, LLC | $10K | 5.59% |
| BARCLAYS CAPITAL, INC. | $3K | 1.59% |
| GOLDMAN SACHS & CO. LLC | $1K | 0.65% |
| CANTOR FITZGERALD & CO. | $53 | 0.03% |
RYAZX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $8.1M | 46.76% |
| BOFA SECURITIES, INC. | $4.8M | 27.74% |
| BARCLAYS CAPITAL, INC. | $4.4M | 25.50% |
S&P SmallCap 600 Pure Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RYAZX | Class H | 1.56% | — |
| RYSVX | Class A | 1.56% | 4.75% |
| RYYCX | Class C | 2.32% | 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.