ABRWX Fees and Costs — DSS AmericaFirst Monthly Risk-On Risk-Off Fund, Class I
Data updated: 2025-09-08
The net expense ratio is 2.99%: a 1.00% management fee plus 2.58% other expenses, less a 0.60% fee waiver. This share class carries a redemption fee of 1.00%. In fiscal 2025 the fund paid $12K in broker commissions, 0.2595% of average net assets, and portfolio turnover was 291%.
ABRWX Fees and Expenses
Annual operating expenses and sales charges of ABRWX. Prospectus, as of October 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 2.58% |
| Gross expense ratio | 3.59% |
| Fee waiver | −0.60% |
| Net expense ratio | 2.99% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
ABRWX Costs Over Time
On $10,000 invested in ABRWX, assuming 5% a year before costs, total costs come to $1,943 over 5 years, cutting the return by 3.41% 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 2.99%) | $314 | $957 | $1,620 |
| Trading costs (broker commissions) | $27 | $83 | $141 |
| Lost growth on money paid in costs | $0 | $52 | $182 |
| Total costs | $341 | $1,092 | $1,943 |
| Value after costs | $10,159 | $10,484 | $10,820 |
| Impact on return, per year | 3.41% | 3.41% | 3.41% |
ABRWX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.2595%
- Total broker commissions: $12K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 291%
- Securities lending: none during the year
ABRWX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Gar Wood Securities, LLC | $7K | 55.11% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $4K | 31.52% |
| JONESTRADING | $2K | 13.37% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.