|Last||Daily Change / % Change||Gross Expense Ratio||Max Sales Load||Max Redemption Fee||Max Admin Fee||Max Mgmt Fee|
Quote data as of close.
Fund Fee Analysis
This tool provides an analysis of the costs that an investor would incur if they owned a particular fund, assuming a given hypothetical average annual return. Costs are expensed as they are incurred, including front end loads and total expense ratio. At the end of the holding period, all investments are sold, incurring applicable Contingent Deferred Sales Charges, adjusted for breakpoints and length of time each lot was held.Fees that are used to determine the costs are as follows:
- Transaction fees (like brokerage commissions, if applicable. Used for ETF's)
- Loads, including Front End and Deferred or Contingent Deferred Sales Charges
- Front End Loads are adjusted for breakpoints
- CDSC's are adjusted for breakpoints and length of ownership on a lot basis
- Rebates to investors are added to the cash flows
- Total Expense Ratio
Profit Before Expense: This is based on the NAV return. It does not include any fees. It is a time weighted return on investment.
Total Expense: This is the dollar amount that an investor would have paid over the course of this hypothetical investment and is equal to Profit Before Expense minus Profit After Expense.
Profit After Expense: This is the dollar amount of profit an investor would have earned after accounting for expenses. It is equal to Profit Before Expense minus Profit After Expense.
This tool is used for illustrative purposes only and does not indicate future performance. Higher rates of return involve a higher degree of risk to principal.
Expenses for INDEX
Load TypeNo LoadNLNo Load
The Load Type denotes either a fund's maximum initial or deferred sales charge.
Actual 12b-1 Fee Ratio0.00%
The Actual 12b-1 Fee Ratio calculates the historical amount of distribution-related and/or shareholder servicing expenses paid by a fund over its latest fiscal year, which was paid pursuant to the fund's 12b-1 distribution plan.
Maximum 12b-1 Fee Ratio--
Maximum 12b-1 Fee Ratio is the maximum contractual amount of distribution-related marketing and/or shareholder servicing fees payable under a distribution plan adopted pursuant to Section 12b-1 of the Investment Company Act of 1940.
Actual Administration Fee$183,403.00
This fee is reported in U.S. Dollars, and represents administrative service fees which usually include occupancy costs and other office expenditures.
Annual Report Gross Expense Ratio6.83%
Often referred to as the Audited Gross Expense Ratio, Morningstar pulls the annual gross expense ratio from the fund's audited annual report. Annual-report expense ratios reflect the actual fees charged during a particular fiscal year, while prospectus expense ratios reflect material changes to the expense structure for the current period.
Annual Report Net Expense Ratio0.27%
Often referred to as the Audited Expense Ratio, Morningstar pulls the annual net expense ratio from the fund's audited annual report. Annual-report expense ratios reflect the actual fees charged during a particular fiscal year, while prospectus expense ratios reflect material changes to the expense structure for the current period.
Prospectus Gross Expense Ratio13.50%
Prospectus Gross Expense Ratio is the percentage of fund assets paid for operating expenses and management fees and is pulled from the fund's most recent prospectus. It does not reflect any fee waivers in effect during the time period.
Prospectus Net Expense Ratio0.25%
Prospectus Net Expense Ratio is the percentage of fund assets paid for operating expenses and management fees and is pulled from a fund's most recent prospectus. It does reflect fee waivers in effect during the time period.
Deferred Sales Charge--
This is imposed when an investor redeems shares. The percentage charged generally declines the longer shares are held. This charge, often coupled with 12b-1 fees, commonly serves as an alternative to a traditional front-end load. For deferred sales charges (also known as back-end loads or contingent deferred sales charges), the amount charged is based on the lesser of the initial or final value of the shares sold. If the fund does not have a load and remains open to investors, "None" appears. Morningstar lists "12b-1 only" in this space if the fund has no sales fees, but does have a 12b-1 fee. If the fund no longer offers shares to new investors, "Closed" is listed here. A percentage followed by a W indicates that, at the time of publication, the fund is waiving its load for the general public.
Front-end Sales Charge--
The initial sales charge or front-end load is a deduction made from each investment in the fund. The amount is generally based on the amount of the investment. Larger investments, both initial and cumulative, generally receive percentage discounts based on the dollar value invested. A typical front-end load might be a 4% charge for purchases less than $50,000, but might decrease as the amount of the investment increases.
|Maximum Redemption Fee||0.25%|
|Redemption Fee intervals listed below:|
|0 to 30 Days||0.25%|