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Yes, it's a load fund, but it's available load-waived lots of places.
Better yet, it looks like one can buy the Advisor share class ANAYX at Scottrade, albeit with a transaction fee. That's $17 per purchase (or $2/purchase on an automatic investment plan).
This saves you 0.30%/year in fund costs (0.60% ER vs. 0.90% ER). On a $5K investment, you'll recover the transaction fee in under a year.
It's on Schwab's select list (NTF) and TDAmeritrade's Premier List (NTF). But it's not like some funds (or families) that show up on virtually all NTF lists.
Unfortunately for Fidelity and Vanguard clients, as you wrote it isn't load-waived at those brokerages.
Not only did I put an order in for ANAYX, but for ALARX, DMCRX, and DRESX which all have low minimums, some with and without trade fees. I wouldn't be able to purchase them for Scottrade's low minimums once it is merged with TD Ameritrade.
I didn't realize Fidelity doesn't do AB in LW A shares; too bad. AB does have an apparently well-run global hy cef, AWF, with relatively better credit than a lot of hy funds. But it's not in the same space as ANAGX; much more like AGDAX.
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Better yet, it looks like one can buy the Advisor share class ANAYX at Scottrade, albeit with a transaction fee. That's $17 per purchase (or $2/purchase on an automatic investment plan).
This saves you 0.30%/year in fund costs (0.60% ER vs. 0.90% ER). On a $5K investment, you'll recover the transaction fee in under a year.
Unfortunately for Fidelity and Vanguard clients, as you wrote it isn't load-waived at those brokerages.