Business and Personal Finance Dictionary

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• LEVEL LOAD
  
  Some mutual funds impose a recurring sales charge, called a level load, each year you own the fund rather than charging either a front- or back-end load. The level-load rate is generally less, usually 1% to 2% annually, than the rate that's charged on a front- or back-end load fund. But the total sales charge you pay over time with a level load can be substantially more than other types of loads, especially if you own the fund for a number of years. Level-load funds are frequently identified by mutual fund companies as Class C shares to distinguish them from front-end loads (Class A shares) and back-end loads (Class B shares).
  
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