RYKIX Fees and Costs — Banking 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 $13K in broker commissions, 0.0942% of average net assets, and portfolio turnover was 233%.
RYKIX Fees and Expenses
Annual operating expenses and sales charges of RYKIX. 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 |
RYKIX Costs Over Time
On $10,000 invested in RYKIX, assuming 5% a year before costs, total costs come to $919 over 5 years, cutting the return by 1.56% 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 | $782 |
| Trading costs (broker commissions) | $10 | $31 | $53 |
| Lost growth on money paid in costs | $0 | $24 | $85 |
| Total costs | $156 | $508 | $919 |
| Value after costs | $10,344 | $11,068 | $11,843 |
| Impact on return, per year | 1.56% | 1.56% | 1.56% |
RYKIX 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): 0.0942%
- Total broker commissions: $13K
- Bought from dealers (principal trades, not a cost): $19.5M
- Portfolio turnover (prospectus): 233%
- Securities on loan, average value: $70K
- Net income from securities lending: $1K (0.009% of average net assets)
RYKIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG, LLC | $4K | 32.69% |
| INSTINET, LLC | $4K | 28.48% |
| BARCLAYS CAPITAL, INC. | $4K | 26.58% |
| CANTOR FITZGERALD & CO. | $2K | 11.99% |
| UBS Securities LLC | $36 | 0.26% |
RYKIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $10.0M | 51.35% |
| BOFA SECURITIES, INC. | $4.8M | 24.72% |
| BARCLAYS CAPITAL, INC. | $4.7M | 23.93% |
Banking Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RYKIX | Investor Class | 1.39% | — |
| RYBKX | Class A | 1.65% | 4.75% |
| RYKAX | Class H | 1.65% | — |
| RYKCX | Class C | 2.41% | 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.