ACFSX Fees and Costs — Focused Dynamic Growth Fund, I Class
Data updated: 2026-10-14
The net expense ratio is 0.65%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $140K in broker commissions, 0.0070% of average net assets, and portfolio turnover was 15%.
ACFSX Fees and Expenses
Annual operating expenses and sales charges of ACFSX. Prospectus, as of December 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.65% |
| Fee waiver | — |
| Net expense ratio | 0.65% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
ACFSX Costs Over Time
On $10,000 invested in ACFSX, assuming 5% a year before costs, total costs come to $414 over 5 years, cutting the return by 0.69% 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 0.65%) | $68 | $214 | $372 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $11 | $38 |
| Total costs | $69 | $227 | $414 |
| Value after costs | $10,431 | $11,350 | $12,349 |
| Impact on return, per year | 0.69% | 0.69% | 0.69% |
ACFSX 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): 0.0070%
- Total broker commissions: $140K
- Bought from dealers (principal trades, not a cost): $2.3B
- Portfolio turnover (prospectus): 15%
ACFSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY | $21K | 18.57% |
| BANK OF AMERICA MERRILL LYNCH | $20K | 17.87% |
| BERNSTEIN INSTITUTIONAL SERVICES | $18K | 15.81% |
| JEFFERIES LLC | $14K | 12.23% |
| CITIGROUP CAPITAL MARKETS INC. | $9K | 8.01% |
| ROBERT W BAIRD | $7K | 6.10% |
| J.P. MORGAN SECURITIES | $7K | 6.07% |
| PIPER SANDLER & CO | $6K | 5.47% |
| EVERCORE ISI INVESTMENT GROUP | $6K | 4.99% |
| BARCLAYS CAPITAL | $6K | 4.90% |
ACFSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| STATE STREET GLOBAL MARKETS LLC | $2.2B | 94.40% |
| UBS WARBURG | $37.5M | 1.62% |
| GOLDMAN SACHS | $35.5M | 1.53% |
| MORGAN STANLEY | $30.7M | 1.32% |
| CITIGROUP CAPITAL MARKETS INC. | $23.9M | 1.03% |
| J.P. MORGAN SECURITIES | $2.3M | 0.10% |
Focused Dynamic Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ACFGX | G Class | 0.00% | none |
| ACFNX | R6 Class | 0.50% | none |
| ACFSX | I Class | 0.65% | none |
| ACFOX | Investor Class | 0.85% | none |
| ACFDX | A Class | 1.10% | 5.75% |
| ACFCX | R Class | 1.35% | 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.