Комиссии и расходы паевых инвестиционных фондов.

Charges that may be incurred by investors who hold mutual funds
Mutual fund fees and expenses are charges that may be incurred by investors who hold mutual funds. Operating a mutual fund involves costs, including shareholder transaction costs, investment advisory fees, and marketing and distribution expenses. Funds pass along these costs to investors in several ways. Some funds impose "shareholder fees" directly on investors whenever they buy or sell shares. In addition, every fund has regular, recurring, fund wide "operating expenses". Funds typically pay their operating expenses out of fund assets—which means that investors indirectly pay these costs. Although they may seem negligible, fees and expenses can substantially reduce an investor's earnings when the investment is held for a long period of time. For the reasons cited above, it is important for a prospective investor to compare the fees of the various funds under consideration. Investors should also compare fees against industry benchmarks and averages. There are many different types of fees, as discussed below. To facilitate the comparison of funds, it is helpful to compare the total expense ratio. The following table shows the weighted average total expense ratios for different types of mutual funds organized in the United States as of December 31, 2020, as published by Morningstar, Inc. Equal Weighted Average Fees Fund Type Active Funds Passive Funds U. S. Equities 1.08% 0.48% Sector Equities 1.28% 0.47% Allocation 1.07% 1.11% International Equities 1.20% 0.48% Taxable Bond 0.85% 0.23% Municipal Bond 0.80% 0.21% Alternative 1.52% 0.90%Commodities1.16%0.92% All funds 1.04% 0.45%

Purchase Fee—A type of fee that some funds charge their shareholders when they buy shares. Unlike a front end sales load, a purchase fee is paid to the fund (not to a Stockbroker) and is typically imposed to defray some of the fund's costs associated with the purchase.

Redemption Fee—another type of fee that some funds charge their shareholders when they sell or redeem shares. Unlike a deferred sales load, a redemption fee is paid to the fund (not to a Stockbroker) and is typically used to defray fund costs associated with a shareholder's redemption. Funds can charge up to 0.25% in distribution fees and still describe themselves as "no load".

These costs are incurred in the trading of the fund's assets. Funds with a high turnover ratio, or investing in illiquid or exotic markets usually face higher transaction costs. Unlike the total expense ratio these costs are usually not reported.

Load funds exhibit a "Sales Load" with a percentage charge levied on purchase or sale of shares. A load is a type of commission. Depending on the type of load a mutual fund exhibits, charges may be incurred at the time of purchase, time of sale, or a mix of both. The different types of loads are outlined below.

Often associated with class 'A' shares of a mutual fund. Also known as Sales Charge, this is a fee paid when shares are purchased. Also known as a "front end load", this fee typically goes to the brokers that sell the fund's shares. Front end loads reduce the amount of your investment. For example, let's say you have $1,000 and want to invest it in a mutual fund with a 5% front end load. The $50 sales load you must pay comes off the top, and the remaining $950 will be invested in the fund. The Maximum sales load under the Investment Company Act of 1940 is 9%. The maximum sales load under NASD Rules is 8%. The amount of this type of load will depend on how long the investor holds his or her shares and typically decreases to zero if the investor holds his or her shares long enough.