No-Load (Mutual Fund) Definition

Dictionary of Financial Terms

A mutual fund that has no sales commission and only charges an annual 12b-1 fee up to one-quarter of 1%, or 0.25%. The 12b-1 fees, named for their numbered listing in the Investment Company Act of 1940, are what mutual funds can charge to cover the costs of their distribution (for example, advertising expenses).

Definitions of Financial Terms