TBAAX Fees and Costs — Touchstone Dynamic Diversified Income Fund, Class A
Data updated: 2021-05-27
The net expense ratio is 1.01% (1.40% before fee waivers). This share class carries a maximum front-end sales load of 5.00%. In fiscal 2020 the fund paid $10K in broker commissions, 0.0169% of average net assets, and portfolio turnover was 32%.
TBAAX Fees and Expenses
Annual operating expenses and sales charges of TBAAX. Prospectus, as of April 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.43% |
| Gross expense ratio | 1.40% |
| Fee waiver | −0.39% |
| Net expense ratio | 1.01% |
| Sales charges | |
|---|---|
| Max front load | 5.00% |
| 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 | Yes |
TBAAX Costs Over Time
On $10,000 invested in TBAAX, assuming 5% a year before costs, total costs come to $1,248 over 5 years, cutting the return by 2.14% 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 | $500 | $500 | $500 |
| Fund expenses (net expense ratio 1.01%) | $101 | $314 | $545 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $25 | $95 | $194 |
| Total costs | $627 | $914 | $1,248 |
| Value after costs | $9,873 | $10,662 | $11,515 |
| Impact on return, per year | 6.27% | 2.84% | 2.14% |
TBAAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0169%
- Total broker commissions: $10K
- Bought from dealers (principal trades, not a cost): $30.9M
- Portfolio turnover (prospectus): 32%
- Securities on loan, average value: $3.5M
- Net income from securities lending: $43K (0.074% of average net assets)
TBAAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $7K | 70.99% |
| Morgan Stanley & Co. LLC | $3K | 28.87% |
| Virtu Americas LLC | $13 | 0.14% |
TBAAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Touchstone Impact Bond Fund | $8.8M | 28.36% |
| Touchstone Value Fund | $5.9M | 19.20% |
| Touchstone Credit Opportunities Fund | $5.9M | 18.94% |
| Touchstone High Yield Fund | $5.4M | 17.35% |
| Touchstone Flexible Income Fund | $5.0M | 16.15% |
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.