RYOAX Fees and Costs — Biotechnology Fund, Class H
Data updated: 2026-08-28
The net expense ratio is 1.65%: a 0.85% management fee, a 0.25% 12b-1 fee plus 0.58% other expenses, less a 0.03% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $25K in broker commissions, 0.0249% of average net assets, and portfolio turnover was 51%.
RYOAX Fees and Expenses
Annual operating expenses and sales charges of RYOAX. Prospectus, as of July 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.58% |
| Gross expense ratio | 1.68% |
| Fee waiver | −0.03% |
| Net expense ratio | 1.65% |
| 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 |
RYOAX Costs Over Time
On $10,000 invested in RYOAX, assuming 5% a year before costs, total costs come to $1,034 over 5 years, cutting the return by 1.76% 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 1.65%) | $173 | $537 | $924 |
| Trading costs (broker commissions) | $3 | $8 | $14 |
| Lost growth on money paid in costs | $0 | $27 | $95 |
| Total costs | $176 | $572 | $1,034 |
| Value after costs | $10,324 | $11,004 | $11,729 |
| Impact on return, per year | 1.76% | 1.76% | 1.76% |
RYOAX 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): 0.0249%
- Total broker commissions: $25K
- Bought from dealers (principal trades, not a cost): $147.5M
- Portfolio turnover (prospectus): 51%
- Securities on loan, average value: $1.5M
- Net income from securities lending: $21K (0.021% of average net assets)
RYOAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS CAPITAL, INC. | $11K | 43.53% |
| BTIG, LLC | $6K | 25.29% |
| INSTINET, LLC | $3K | 12.66% |
| CANTOR FITZGERALD & CO. | $3K | 10.63% |
| ROTH CAPITAL PARTNERS, LLC | $2K | 7.89% |
RYOAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $68.3M | 46.30% |
| BOFA SECURITIES, INC. | $40.6M | 27.54% |
| BARCLAYS CAPITAL, INC. | $38.6M | 26.16% |
Biotechnology Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RYOIX | Investor Class | 1.40% | — |
| RYBOX | Class A | 1.65% | 4.75% |
| RYOAX | Class H | 1.65% | — |
| RYCFX | 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.