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Back-End Load / Deferred Sales Charge Back-End Load is a fee paid when shares are sold. This fee typically goes to the brokers that sell the fund's shares. 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.Typically starts out at 6% for the first year and gets smaller each year until it reaches zero in six or seven years. Also called a Deferred Load, Deferred Sales Charge, CDSC (contingent deferred sales charge) or Exit Charge. |
