no-load

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no-load

(nō′lōd′)
adj. Business
Not charging a fee when shares are purchased or redeemed: a no-load mutual fund.
References in periodicals archive ?
com) rated The Vanguard Group, Schwab Funds, Dodge & Cox Funds, Harbor Capital Advisors Funds and Fidelity Investments as the least expensive of the top no-load mutual fund families (in terms of how much it actually costs, once fees are factored in, to invest in the fund).
For a directory of more than 200 no-load funds, send $5 to the 100% No-Load Mutual Fund Council, 1501 Broadway, Suite 1809, New York, NY 10036.
Otherwise, it's wise to choose a no-load mutual fund, or one that doesn't charge a sales commission that's taken out of whatever gains your fund racks up over time.
And while 78 percent of Americans can name a character on a television sitcom, only 12 percent know the difference between a load and a no-load mutual fund - even though, according to the Investment Company Institute, 37 percent of American households own mutual funds.
When you add all of these fees together, it's quite possible that a no-load mutual fund may be charging you 2% to 3% per year in fees.