UTAFX Fees and Costs — Aquila Tax-Free Fund For Utah, Class F
Data updated: 2024-08-21
The net expense ratio is 0.64%: a 0.50% management fee plus 0.16% other expenses, less a 0.02% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 12%.
UTAFX Fees and Expenses
Annual operating expenses and sales charges of UTAFX. Prospectus, as of July 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.16% |
| Gross expense ratio | 0.66% |
| Fee waiver | −0.02% |
| Net expense ratio | 0.64% |
| 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 | No |
UTAFX Costs Over Time
On $10,000 invested in UTAFX, assuming 5% a year before costs, total costs come to $403 over 5 years, cutting the return by 0.67% 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 0.64%) | $67 | $210 | $366 |
| Lost growth on money paid in costs | $0 | $10 | $37 |
| Total costs | $67 | $221 | $403 |
| Value after costs | $10,433 | $11,355 | $12,360 |
| Impact on return, per year | 0.67% | 0.67% | 0.67% |
UTAFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $114.6M
- Portfolio turnover (prospectus): 12%
- Securities lending: none during the year
UTAFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| PERSHING LLC | $31.6M | 31.95% |
| Icecapital Securities Ltd | $21.2M | 21.45% |
| RBC CAPITAL MARKETS LLC | $12.2M | 12.34% |
| J.P. Morgan Securities LLC | $7.6M | 7.73% |
| MORGAN STANLEY & CO. LLC | $7.5M | 7.55% |
| BARCLAYS CAPITAL, INC. | $4.3M | 4.34% |
| NATIONAL FINANCIAL SERVICES LLC | $3.7M | 3.76% |
| Robert W. Baird & Co. Incorporated | $3.7M | 3.70% |
| RAYMOND JAMES & ASSOCIATES, INC. | $3.7M | 3.70% |
| CitiGroup Global Markets Inc. | $3.5M | 3.49% |
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.