RYILX Fees and Costs — Inverse High Yield Strategy Fund, Class A
Data updated: 2026-08-28
The net expense ratio is 1.56% (1.60% before fee waivers). This share class carries a maximum front-end sales load of 4.75%. In fiscal 2026 the fund paid $3K in broker commissions, 0.1965% of average net assets, and portfolio turnover was 0%.
RYILX Fees and Expenses
Annual operating expenses and sales charges of RYILX. Prospectus, as of July 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.58% |
| Gross expense ratio | 1.60% |
| Fee waiver | −0.04% |
| Net expense ratio | 1.56% |
| Sales charges | |
|---|---|
| Max front load | 4.75% |
| 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 |
RYILX Costs Over Time
On $10,000 invested in RYILX, assuming 5% a year before costs, total costs come to $1,637 over 5 years, cutting the return by 2.84% 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 |
| Sales charges | $475 | $475 | $475 |
| Fund expenses (net expense ratio 1.56%) | $156 | $483 | $831 |
| Trading costs (broker commissions) | $20 | $61 | $105 |
| Lost growth on money paid in costs | $24 | $102 | $226 |
| Total costs | $674 | $1,121 | $1,637 |
| Value after costs | $9,826 | $10,455 | $11,126 |
| Impact on return, per year | 6.74% | 3.50% | 2.84% |
RYILX 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): 0.1965%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $328.2M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
RYILX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS CAPITAL, INC. | $2K | 72.68% |
| GOLDMAN SACHS & CO. LLC | $901 | 27.32% |
RYILX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $169.1M | 51.52% |
| BARCLAYS CAPITAL, INC. | $76.3M | 23.26% |
| BOFA SECURITIES, INC. | $75.7M | 23.06% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $3.0M | 0.91% |
| GOLDMAN SACHS & CO. LLC | $2.4M | 0.73% |
| CitiGroup Global Markets Inc. | $1.7M | 0.52% |
Inverse High Yield 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 |
|---|---|---|---|
| RYILX | Class A | 1.56% | 4.75% |
| RYIHX | Class H | 1.57% | — |
| RYIYX | Class C | 2.31% | 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.