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You will find that some mutual funds in this classification have no back-end load fees at all.

It's the same with a back-end load, where 5 percent can cost more if the fund has had healthy gains.

Class B shares have a back-end load.

Expense ratios are usually between those of the other classes, and there may be a small back-end load that is waived for shares held longer than a year.

To be clear, with a "back-end load," you pay a fee when you take your money out of a fund, and with a "front-end load," you pay upfront when you put money into a fund.