TSMAX Fees and Costs — Touchstone Dynamic Allocation Fund, Class A
Data updated: 2023-11-24
The net expense ratio is 1.16% (1.67% before fee waivers). This share class carries a maximum front-end sales load of 5.00%. In fiscal 2022 the fund paid $3K in broker commissions, 0.0048% of average net assets, and portfolio turnover was 60%.
TSMAX Fees and Expenses
Annual operating expenses and sales charges of TSMAX. Prospectus, as of April 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.50% |
| Gross expense ratio | 1.67% |
| Fee waiver | −0.51% |
| Net expense ratio | 1.16% |
| 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 |
TSMAX Costs Over Time
On $10,000 invested in TSMAX, assuming 5% a year before costs, total costs come to $1,328 over 5 years, cutting the return by 2.28% 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 1.16%) | $116 | $360 | $624 |
| Trading costs (broker commissions) | $0 | $1 | $3 |
| Lost growth on money paid in costs | $25 | $97 | $202 |
| Total costs | $641 | $959 | $1,328 |
| Value after costs | $9,859 | $10,618 | $11,435 |
| Impact on return, per year | 6.41% | 2.98% | 2.28% |
TSMAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0048%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $72.0M
- Portfolio turnover (prospectus): 60%
- Securities on loan, average value: $510K
- Net income from securities lending: $2K (0.003% of average net assets)
TSMAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $3K | 100.00% |
TSMAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Touchstone Impact Bond Fund | $21.0M | 31.90% |
| Touchstone International ESG Equity Fund | $10.9M | 16.64% |
| Touchstone Active Bond Fund | $7.0M | 10.59% |
| Touchstone Ultra Short Duration Fixed Income Fund | $4.8M | 7.33% |
| Touchstone High Yield Fund | $4.3M | 6.56% |
| Touchstone International Growth Fund | $4.0M | 6.13% |
| Touchstone Sands Capital Emerging Markets Growth Fund | $4.0M | 6.02% |
| Touchstone Value Fund | $3.3M | 4.99% |
| Touchstone Growth Opportunities Fund | $3.2M | 4.91% |
| Touchstone Sands Capital Select Growth Fund | $3.2M | 4.91% |
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.