TMAYX Fees and Costs — Touchstone Ares Credit Opportunities Fund, Class Y
Data updated: 2026-08-26
The net expense ratio is 0.77%: a 0.56% management fee plus 0.28% other expenses, less a 0.08% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $24K in broker commissions, 0.0053% of average net assets, and portfolio turnover was 47%.
TMAYX Fees and Expenses
Annual operating expenses and sales charges of TMAYX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.56% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.28% |
| Gross expense ratio | 0.85% |
| Fee waiver | −0.08% |
| Net expense ratio | 0.77% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
TMAYX Costs Over Time
On $10,000 invested in TMAYX, assuming 5% a year before costs, total costs come to $487 over 5 years, cutting the return by 0.81% 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 0.77%) | $81 | $253 | $440 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $13 | $45 |
| Total costs | $81 | $267 | $487 |
| Value after costs | $10,419 | $11,309 | $12,276 |
| Impact on return, per year | 0.81% | 0.81% | 0.81% |
TMAYX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0053%
- Total broker commissions: $24K
- Bought from dealers (principal trades, not a cost): $626.0M
- Portfolio turnover (prospectus): 47%
- Securities on loan, average value: $4.0M
- Net income from securities lending: $202K (0.044% of average net assets)
TMAYX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital Inc. | $15K | 61.01% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $5K | 22.32% |
| Goldman Sachs & Co. LLC | $3K | 13.10% |
| Pershing LLC | $510 | 2.09% |
| Raymond James & Associates, Inc. | $360 | 1.47% |
TMAYX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $68.7M | 13.51% |
| Morgan Stanley & Co. LLC | $65.9M | 12.96% |
| Goldman Sachs & Co. LLC | $64.7M | 12.72% |
| Jefferies LLC | $59.7M | 11.75% |
| Barclays Capital Inc. | $56.9M | 11.19% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $54.6M | 10.74% |
| Citigroup Global Markets Inc. | $47.2M | 9.28% |
| Wells Fargo Securities, LLC | $33.6M | 6.60% |
| RBC Capital Markets, LLC | $32.9M | 6.47% |
| Deutsche Bank Securities Inc. | $24.3M | 4.78% |
Touchstone Ares Credit Opportunities Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000261019 | C000261019 | 0.59% | none |
| TARBX | Institutional Class | 0.66% | none |
| TMAYX | Class Y | 0.77% | none |
| TMARX | Class A | 1.00% | 3.25% |
| TMACX | Class C | 1.72% | 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.