RYIFX Fees and Costs — Managed Futures Strategy Fund, Institutional Class
Data updated: 2026-08-21
The net expense ratio is 1.72% (1.90% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $154K in broker commissions, 0.6811% of average net assets, and portfolio turnover was 0%.
RYIFX Fees and Expenses
Annual operating expenses and sales charges of RYIFX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.06% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.75% |
| Gross expense ratio | 1.90% |
| Fee waiver | −0.18% |
| Net expense ratio | 1.72% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
RYIFX Costs Over Time
On $10,000 invested in RYIFX, assuming 5% a year before costs, total costs come to $1,460 over 5 years, cutting the return by 2.52% 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 1.72%) | $181 | $555 | $949 |
| Trading costs (broker commissions) | $72 | $220 | $376 |
| Lost growth on money paid in costs | $0 | $39 | $136 |
| Total costs | $252 | $814 | $1,460 |
| Value after costs | $10,248 | $10,762 | $11,302 |
| Impact on return, per year | 2.52% | 2.52% | 2.52% |
RYIFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.6811%
- Total broker commissions: $154K
- Bought from dealers (principal trades, not a cost): $2.4B
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
RYIFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $154K | 100.00% |
RYIFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $1.2B | 52.25% |
| BARCLAYS CAPITAL INC. | $572.6M | 24.08% |
| BOFA SECURITIES, INC. | $562.1M | 23.64% |
| GOLDMAN SACHS & CO. LLC | $500K | 0.02% |
Managed Futures 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 |
|---|---|---|---|
| RYIFX | Institutional Class | 1.72% | none |
| RYMFX | Class P | 1.99% | — |
| RYMTX | Class A | 2.00% | 4.75% |
| RYMZX | Class C | 2.74% | 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.