Expense Ratio History

MCFAX expense ratio history

Miller Convertible Bond Fund, Class A Shares

Fund company
Miller Investment
Type
Mutual fund

1.54%

In basis points
154 basis points
Yearly cost per $10,000
$154
Prospectus dated
2 March 2026, filed with the SEC; rounded to 0.01%
Last change
Raised from 1.51% on 2 March 2026

Fee over time

MCFAX expense ratio: 1.50% until 1 Mar 2013, then 1.49%; 1.49% until 3 Feb 2014, then 1.51%; 1.51% until 27 Feb 2015, then 1.45%; 1.45% until 26 Feb 2016, then 1.44%; 1.44% until 27 Feb 2017, then 1.49%; 1.49% until 1 Mar 2018, then 1.45%; 1.45% until 1 Mar 2020, then 1.47%; 1.47% until 1 Mar 2021, then 1.50%; 1.50% until 1 Mar 2022, then 1.47%; 1.47% until 1 Mar 2023, then 1.48%; 1.48% until 1 Mar 2024, then 1.49%; 1.49% until 1 Mar 2025, then 1.51%; 1.51% until 2 Mar 2026, then 1.54%; read at 1.54% on 2 Mar 2026.0.00%1.00%2.00%3.00%Feb 2012Jul 2014Dec 2016May 2019Oct 2021Mar 20241.50% before1.54% from 2 Mar 2026
MCFAX expense ratio: 1.50% until 1 Mar 2013, then 1.49%; 1.49% until 3 Feb 2014, then 1.51%; 1.51% until 27 Feb 2015, then 1.45%; 1.45% until 26 Feb 2016, then 1.44%; 1.44% until 27 Feb 2017, then 1.49%; 1.49% until 1 Mar 2018, then 1.45%; 1.45% until 1 Mar 2020, then 1.47%; 1.47% until 1 Mar 2021, then 1.50%; 1.50% until 1 Mar 2022, then 1.47%; 1.47% until 1 Mar 2023, then 1.48%; 1.48% until 1 Mar 2024, then 1.49%; 1.49% until 1 Mar 2025, then 1.51%; 1.51% until 2 Mar 2026, then 1.54%; read at 1.54% on 2 Mar 2026.0.00%1.00%2.00%3.00%Feb 2012Nov 2016Aug 20211.50% before1.54% from 2 Mar 2026
Solid line: the fee in effect after each recorded change. Dashed: the fee before it. Dots: prospectuses filed with the SEC and dates we read the fee from a source.

Share classes

The same fund is sold as 4 share classes, each with its own fee. Figures are from each class's latest prospectus in SEC filings, rounded to 0.01%.

TickerShare classFeeAfter waiversProspectus dated
MCFAX (this page) Class A Shares 1.54% — 2 Mar 2026
MCIFX CLASS I SHARES 1.04% — 2 Mar 2026
MCFCX Class C Shares 2.04% — 2 Mar 2026
— — 0.99% 0.01% 1 Mar 2013

Every figure we've recorded

DateFeeWhat happened
2 Mar 2026 1.54% In the prospectusTotal annual fund operating expenses in the prospectus dated 2026-03-02 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
2 Mar 2026 1.54% Raised from 1.51% to 1.54%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2026-02-27
1 Mar 2025 1.51% In the prospectusTotal annual fund operating expenses in the prospectus dated 2025-03-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Mar 2025 1.51% Raised from 1.49% to 1.51%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2025-02-28
1 Mar 2024 1.49% In the prospectusTotal annual fund operating expenses in the prospectus dated 2024-03-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Mar 2024 1.49% Raised from 1.48% to 1.49%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2024-02-28
1 Mar 2023 1.48% In the prospectusTotal annual fund operating expenses in the prospectus dated 2023-03-01 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
1 Mar 2023 1.48% Raised from 1.47% to 1.48%Prospectus date; the new figure appears in this filingSource: Prospectus (form 497) filed with the SEC on 2023-03-06
1 Mar 2022 1.47% In the prospectusTotal annual fund operating expenses in the prospectus dated 2022-03-01 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
1 Mar 2022 1.47% Cut from 1.50% to 1.47%Prospectus date; the new figure appears in this filingSource: Prospectus (form 497) filed with the SEC on 2022-03-14
1 Mar 2021 1.50% In the prospectusTotal annual fund operating expenses in the prospectus dated 2021-03-01 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
1 Mar 2021 1.50% Raised from 1.47% to 1.50%Prospectus date; the new figure appears in this filingSource: Prospectus (form 497) filed with the SEC on 2021-07-08
1 Mar 2020 1.47% In the prospectusTotal annual fund operating expenses in the prospectus dated 2020-03-01 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
1 Mar 2020 1.47% Raised from 1.45% to 1.47%Prospectus date; the new figure appears in this filingSource: Prospectus (form 497) filed with the SEC on 2020-03-30
1 Mar 2019 1.45% In the prospectusTotal annual fund operating expenses in the prospectus dated 2019-03-01 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
1 Mar 2018 1.45% In the prospectusTotal annual fund operating expenses in the prospectus dated 2018-03-01 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
1 Mar 2018 1.45% Cut from 1.49% to 1.45%Prospectus date; the new figure appears in this filingSource: Prospectus (form 497) filed with the SEC on 2018-03-28
22 Nov 2017 1.49% In the prospectusTotal annual fund operating expenses in the prospectus dated 2017-11-22 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
27 Feb 2017 1.49% In the prospectusTotal annual fund operating expenses in the prospectus dated 2017-02-27 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
27 Feb 2017 1.49% Raised from 1.44% to 1.49%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2017-03-10
26 Feb 2016 1.44% In the prospectusTotal annual fund operating expenses in the prospectus dated 2016-02-26 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
26 Feb 2016 1.44% Cut from 1.45% to 1.44%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2016-03-10
27 Feb 2015 1.45% In the prospectusTotal annual fund operating expenses in the prospectus dated 2015-02-27 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
27 Feb 2015 1.45% Cut from 1.51% to 1.45%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2015-03-13
1 Jan 2015 1.51% In the prospectusTotal annual fund operating expenses in the prospectus dated 2015-01-01 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
3 Feb 2014 1.51% In the prospectusTotal annual fund operating expenses in the prospectus dated 2014-02-03 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
3 Feb 2014 1.51% Raised from 1.49% to 1.51%Prospectus date; the new figure appears in this filingSource: Prospectus (form 497) filed with the SEC on 2014-02-13
1 Mar 2013 1.49% In the prospectusTotal annual fund operating expenses in the prospectus dated 2013-03-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Mar 2013 1.49% Cut from 1.50% to 1.49%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2013-03-05
1 Mar 2012 1.50% In the prospectusTotal annual fund operating expenses in the prospectus dated 2012-03-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS

What this fee costs

Change the amount, years or return. The estimate keeps the fee at 1.54% and the return steady each year, the same assumptions as the cost example in a fund's prospectus.

$1,845 in fees over 10 years

After fees, $10,000 grows to $13,999.

Fees paid on $10,000 at 5% a year
AfterFees paid
1 year$158
3 years$490
5 years$845
10 years$1,845

How we read this figure

The figure is the total annual fund operating expenses line of the fee table in the fund's prospectus, as tagged in the fund company's filing with the SEC. The SEC publishes these figures rounded to four decimal places, so 0.015% appears as 0.02%. The fund company's own page may show a more precise number.

SEC filings give 17 prospectuses for this share class since 2012. Each one is listed above with a link to the filing.

How we read fees

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