RYCWX Fees and Costs — Inverse Dow 2x Strategy Fund, Class H
Data updated: 2026-08-28
The net expense ratio is 1.78%: a 0.90% management fee, a 0.25% 12b-1 fee plus 0.73% other expenses, less a 0.10% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $372 in broker commissions, 0.0099% of average net assets, and portfolio turnover was 0%.
RYCWX Fees and Expenses
Annual operating expenses and sales charges of RYCWX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.73% |
| Gross expense ratio | 1.88% |
| Fee waiver | −0.10% |
| Net expense ratio | 1.78% |
| 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 |
RYCWX Costs Over Time
On $10,000 invested in RYCWX, assuming 5% a year before costs, total costs come to $1,102 over 5 years, cutting the return by 1.88% 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 1.78%) | $187 | $578 | $995 |
| Trading costs (broker commissions) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $0 | $29 | $102 |
| Total costs | $188 | $611 | $1,102 |
| Value after costs | $10,312 | $10,966 | $11,661 |
| Impact on return, per year | 1.88% | 1.88% | 1.88% |
RYCWX 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): 0.0099%
- Total broker commissions: $372
- Bought from dealers (principal trades, not a cost): $874.1M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
RYCWX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $372 | 100.00% |
RYCWX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $399.0M | 45.64% |
| BOFA SECURITIES, INC. | $207.0M | 23.68% |
| BARCLAYS CAPITAL, INC. | $202.6M | 23.18% |
| BNP PARIBAS SECURITIES CORP. | $56.4M | 6.45% |
| GOLDMAN SACHS & CO. LLC | $5.7M | 0.65% |
| BMO CAPITAL MARKETS CORP. | $1.3M | 0.15% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $892K | 0.10% |
| JEFFERIES LLC | $743K | 0.08% |
| CitiGroup Global Markets Inc. | $398K | 0.05% |
| BNY MELLON CAPITAL MARKETS, LLC | $199K | 0.02% |
Inverse Dow 2x 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 |
|---|---|---|---|
| RYCWX | Class H | 1.78% | — |
| RYIDX | Class A | 1.79% | 4.75% |
| RYCZX | Class C | 2.55% | 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.