RYFIX Fees and Costs — Financial Services Fund, Investor Class
Data updated: 2026-08-28
The net expense ratio is 1.39%: a 0.85% management fee plus 0.58% other expenses, less a 0.04% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $19K in broker commissions, 0.1108% of average net assets, and portfolio turnover was 119%.
RYFIX Fees and Expenses
Annual operating expenses and sales charges of RYFIX. Prospectus, as of July 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.58% |
| Gross expense ratio | 1.43% |
| Fee waiver | −0.04% |
| Net expense ratio | 1.39% |
| 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 |
RYFIX Costs Over Time
On $10,000 invested in RYFIX, assuming 5% a year before costs, total costs come to $929 over 5 years, cutting the return by 1.58% 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 1.39%) | $146 | $453 | $781 |
| Trading costs (broker commissions) | $12 | $36 | $62 |
| Lost growth on money paid in costs | $0 | $24 | $86 |
| Total costs | $158 | $513 | $929 |
| Value after costs | $10,342 | $11,063 | $11,833 |
| Impact on return, per year | 1.58% | 1.58% | 1.58% |
RYFIX 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): 0.1108%
- Total broker commissions: $19K
- Bought from dealers (principal trades, not a cost): $23.7M
- Portfolio turnover (prospectus): 119%
- Securities on loan, average value: $9K
- Net income from securities lending: $192 (0.001% of average net assets)
RYFIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG, LLC | $9K | 49.93% |
| INSTINET, LLC | $4K | 19.69% |
| CANTOR FITZGERALD & CO. | $3K | 16.38% |
| BARCLAYS CAPITAL, INC. | $2K | 9.75% |
| ROTH CAPITAL PARTNERS, LLC | $589 | 3.10% |
| GOLDMAN SACHS & CO. LLC | $218 | 1.15% |
RYFIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $12.1M | 50.93% |
| BOFA SECURITIES, INC. | $5.9M | 24.95% |
| BARCLAYS CAPITAL, INC. | $5.7M | 24.12% |
Financial Services Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RYFIX | Investor Class | 1.39% | — |
| RYFAX | Class H | 1.65% | — |
| RYFNX | Class A | 1.65% | 4.75% |
| RYFCX | Class C | 2.40% | 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.