ABRSX Fees and Costs — Abr 50/50 Volatility Fund, Institutional Shares
Data updated: 2026-09-29
The net expense ratio is 2.50%: a 2.50% management fee plus 0.64% other expenses, less a 0.64% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $126K in broker commissions, 0.3555% of average net assets, and portfolio turnover was 1292%.
ABRSX Fees and Expenses
Annual operating expenses and sales charges of ABRSX. Prospectus, as of December 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 2.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.64% |
| Gross expense ratio | 3.14% |
| Fee waiver | −0.64% |
| Net expense ratio | 2.50% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
ABRSX Costs Over Time
On $10,000 invested in ABRSX, assuming 5% a year before costs, total costs come to $1,721 over 5 years, cutting the return by 3.00% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 2.50%) | $262 | $803 | $1,366 |
| Trading costs (broker commissions) | $37 | $114 | $194 |
| Lost growth on money paid in costs | $0 | $46 | $161 |
| Total costs | $300 | $964 | $1,721 |
| Value after costs | $10,200 | $10,613 | $11,042 |
| Impact on return, per year | 3.00% | 3.00% | 3.00% |
ABRSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.3555%
- Total broker commissions: $126K
- Bought from dealers (principal trades, not a cost): $313.9M
- Portfolio turnover (prospectus): 1292%
- Securities lending: none during the year
ABRSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INTL FCSTONE FINANCIAL INC. | $77K | 61.40% |
| ED&F MAN CAPITAL MARKETS INC. | $30K | 24.00% |
| CLEAR STREET, LLC | $18K | 14.60% |
ABRSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| INTL FCSTONE FINANCIAL INC. | $313.9M | 100.00% |
Abr 50/50 Volatility Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ABRSX | Institutional Shares | 2.50% | none |
| ABRJX | Investor Shares | 2.75% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.