Which statement about no load funds is true?

No load funds are mutual funds that do not impose a sales commission or load fee at the time of purchase. This characteristic allows investors to buy shares without having to pay an upfront cost, making no load funds an attractive option for many individual investors. The absence of a sales charge means that more of the investor's money goes directly into the fund, which may enhance the overall return over time as it allows the capital to begin working for the investor immediately.

In contrast, options suggesting that no load funds have higher fees than load funds, trade at a premium to NAV, or are only available to institutional investors do not accurately represent the nature of no load funds. Load funds typically include additional costs that can reduce an investor's returns, and no load funds are accessible to individual investors. Therefore, the statement about not charging a sales commission at purchase is indeed accurate for no load funds.