no-loadn.adj.
/nəʊˈləʊd/, U.S. /ˈnoʊˈloʊd/ A. n.
1. The absence of an electrical load; the condition of this.
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1896 Jrnl. Inst. Electr. Engineers 25 574 The loss in pressure between no load and full load must not exceed a certain definite amount.
1907 G. W. O. Howe tr. A. Thomälen Text-bk. Electr. Engin. xi. 254 At no-load there is no secondary current.
1949 F. J. Teago & J. F. Gill Mercury Arcs (ed. 2) vi. 53 It is necessary to determine the relationship between σ and λ from no-load to short circuit.
1967 H. Cotton Princ. Electr. Technol. xix. 541 The induced voltage on no-load is proportional to the speed so long as the flux remains constant.
1987 E. H. J. Pallett Aircraft Electr. Syst. (ed. 3) iii. 62/2 The difference between the output terminal voltages at full-load and no-load, with a constant input voltage, is called the regulation of the transformer.
2. A no-load fund (see sense B. 2).
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society > trade and finance > stocks and shares > stocks, shares, or bonds > [noun] > other investment funds
investment fund1784
investment vehicle1920
I.R.A.1921
no-load1963
hedge fund1966
swap fund1966
offshore fund1969
roll-up fund1983
tokkin1985
PEP1986
rolled-up1987
1963 N.Y. Times 6 May 44/1 Of the more than 250 mutual funds in operation, only about 32 are ‘no-loads’.
1968 Maclean's Oct. 22 A handful or so Canadian funds are ‘no-loads’—are offered without any sales charge and are generally available through investment dealers.
1976 National Observer (U.S.) 6 Nov. 9/2 Most [funds] are ‘no-loads’—that is, they impose no sales or redemption charges.
2001 N.Y. Times 8 July iii. 26/3 They [sc. load fund investors] are probably not aware that they could have made even more by investing in no-loads.
B. adj.
1. attributive. Corresponding to or involving an absence of an electrical load.
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the world > matter > physics > electromagnetic radiation > electricity > circuit > [adjective] > without load
no-load1902
1902 R. M. Walmsley Electr. in Service of Man (ed. 4) 920 (caption) ‘No-load’ characteristic of a 3,000 K.W. alternator.
1930 C. C. Bishop Alternating Currents for Techn. Students xii. 289 To obtain knowledge of the relation of terminal volts to field current at no load for an alternator, use is made of a no-load magnetization or saturation curve.
1966 N. Jones Basic Electrotechnology xi. 150 The motor exhibits a practically constant speed characteristic, the full-load speed being about 5% less than the no-load speed.
1998 Cruising World Oct. 127/2 Your reading should be somewhere between 0.5 volts and 2.5 volts higher than your reference voltage... This reading is called the ‘no-load voltage’.
2. Of a mutual fund (unit trust): that sells shares without making a sales charge. Of shares: sold at net asset value.
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society > trade and finance > stocks and shares > stocks, shares, or bonds > [adjective] > types of investment trust
open-end1931
closed-end1952
no-load1959
tokkin1985
society > trade and finance > stocks and shares > stocks, shares, or bonds > [adjective] > types of securities > type of share
inscribed1882
non-voting1883
no-load1959
light1981
1959 N.Y. Times 5 Jan. 40/2 Virtually all of these ‘no load’ funds maintain their own sales staffs and are sponsored directly by brokerage concerns that may be underwriters for the funds.
1963 Jrnl. Finance 18 362 Most of the companies imposing such a fee either sell their shares without any sales charge at net asset value (so-called ‘no-load funds’) or do not currently sell their own shares.
1978 Detroit Free Press 2 Apr. 18 d/2 Both funds are no-load (no sales commission) but initial investments must be at least $5,000.
1985 Austral. Business 4 Sept. 148/2 With the no load trusts, the entire dollar invested goes into the fund.
1993 Globe & Mail (Toronto) 17 June c3/1 In Ontario and Quebec, you can open accounts and buy the funds on a no-load basis directly through GBC's offices.
This entry has been updated (OED Third Edition, December 2003; most recently modified version published online March 2022).
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n.adj.1896