TWWOX Fees and Costs — Intermediate-Term Tax-Free Bond Fund, A Class
Data updated: 2026-09-28
The net expense ratio is 0.72%: a 0.46% management fee, a 0.25% 12b-1 fee plus 0.01% other expenses. This share class carries a maximum front-end sales load of 4.50%. In fiscal 2026 the fund paid $17K in broker commissions, 0.0004% of average net assets, and portfolio turnover was 38%.
TWWOX Fees and Expenses
Annual operating expenses and sales charges of TWWOX. Prospectus, as of October 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.46% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.72% |
| Fee waiver | — |
| Net expense ratio | 0.72% |
| Sales charges | |
|---|---|
| Max front load | 4.50% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
TWWOX Costs Over Time
On $10,000 invested in TWWOX, assuming 5% a year before costs, total costs come to $1,007 over 5 years, cutting the return by 1.71% 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 | $450 | $450 | $450 |
| Fund expenses (net expense ratio 0.72%) | $72 | $226 | $393 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $23 | $82 | $164 |
| Total costs | $545 | $758 | $1,007 |
| Value after costs | $9,955 | $10,818 | $11,756 |
| Impact on return, per year | 5.45% | 2.34% | 1.71% |
TWWOX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0004%
- Total broker commissions: $17K
- Bought from dealers (principal trades, not a cost): $4.0B
- Portfolio turnover (prospectus): 38%
- Securities lending: none during the year
TWWOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BANK OF AMERICA MERRILL LYNCH | $8K | 45.68% |
| VIRTU FINANCIAL LLC | $4K | 25.21% |
| MORGAN STANLEY | $2K | 11.71% |
| JANE STREET GROUP LLC | $2K | 8.91% |
| CITADEL SECURITIES CSHC US LLC | $1K | 8.50% |
TWWOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES | $1.2B | 33.69% |
| WELLS FARGO SECURITIES | $608.7M | 17.58% |
| MORGAN STANLEY | $568.9M | 16.43% |
| GOLDMAN SACHS | $263.8M | 7.62% |
| BANK OF AMERICA MERRILL LYNCH | $251.4M | 7.26% |
| RBC CAPITAL MARKETS | $181.2M | 5.23% |
| JEFFERIES LLC | $119.1M | 3.44% |
| ZIEGLER SECURITIES | $114.7M | 3.31% |
| STIFEL NICOLAUS & CO MARKETS | $95.3M | 2.75% |
| RAYMOND JAMES | $92.6M | 2.67% |
Intermediate-Term Tax-Free Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ATBYX | Y Class | 0.24% | none |
| AXBIX | I Class | 0.27% | none |
| TWTIX | Investor Class | 0.47% | none |
| TWWOX | A Class | 0.72% | 4.50% |
| TWTCX | C Class | 1.47% | 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.