After 5 years of ownership,most back end-load funds may be sold without a sales commission.

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This is known as the "deferred sales charge schedule," which decreases over time until it reaches zero. Generally, after a certain number of years (often five or seven), investors can sell their shares without paying a sales commission. However, it's important to note that other fees, such as ongoing management fees and transaction costs, may still apply.

After 5 Years of Ownership,most Back End-Load Funds May Be