The fee table identifies whether loads are charged when shares are purchased. If so, the amount of the load is listed in percentage terms. Loads may not exceed 8.5 percent of the amount invested, and most funds that have loads charge considerably less than this amount. Loads are most often charged when a financial professional assisted in the sale, and are used to compensate the professional. Annual Fees .
Annual fees pay for virtually all of the fund's operations.
The fee table lists the rate the fund pays for each of the fund's key services, such as managing the portfolio, maintaining account records, etc. The fee table also provides an overall expense ratio for the fund. The expense ratio is especially useful for investors because it combines into a single figure all of the fees collected to operate the fund in the preceding year. Illustrative Example . Sales commissions and annual fees must be included as costs.