RYZAX Fees and Costs — S&P 500 Pure Value Fund, Class H
Data updated: 2026-08-28
The net expense ratio is 1.56%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.60% other expenses, less a 0.04% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $258K in broker commissions, 0.7957% of average net assets, and portfolio turnover was 1099%.
RYZAX Fees and Expenses
Annual operating expenses and sales charges of RYZAX. Prospectus, as of July 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.60% |
| Gross expense ratio | 1.60% |
| Fee waiver | −0.04% |
| Net expense ratio | 1.56% |
| 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 |
RYZAX Costs Over Time
On $10,000 invested in RYZAX, assuming 5% a year before costs, total costs come to $1,434 over 5 years, cutting the return by 2.47% 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 1.56%) | $164 | $504 | $861 |
| Trading costs (broker commissions) | $84 | $257 | $439 |
| Lost growth on money paid in costs | $0 | $38 | $133 |
| Total costs | $247 | $799 | $1,434 |
| Value after costs | $10,253 | $10,777 | $11,329 |
| Impact on return, per year | 2.47% | 2.47% | 2.47% |
RYZAX 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): 0.7957%
- Total broker commissions: $258K
- Bought from dealers (principal trades, not a cost): $45.6M
- Portfolio turnover (prospectus): 1099%
- Securities on loan, average value: $15K
- Net income from securities lending: $103 (0.000% of average net assets)
RYZAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS CAPITAL, INC. | $167K | 64.66% |
| INSTINET, LLC | $68K | 26.48% |
| CANTOR FITZGERALD & CO. | $14K | 5.30% |
| BTIG, LLC | $9K | 3.38% |
| ROTH CAPITAL PARTNERS, LLC | $459 | 0.18% |
RYZAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $21.2M | 46.44% |
| BOFA SECURITIES, INC. | $12.6M | 27.54% |
| BARCLAYS CAPITAL, INC. | $11.9M | 26.02% |
S&P 500 Pure Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RYLVX | Class A | 1.55% | 4.75% |
| RYZAX | Class H | 1.56% | — |
| RYVVX | 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.