ACSIX Fees and Costs — Arena Strategic Income Fund
Data updated: 2026-09-28
The net expense ratio is 0.98% (1.34% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $69 in broker commissions, 0.0001% of average net assets, and portfolio turnover was 68%.
ACSIX Fees and Expenses
Annual operating expenses and sales charges of ACSIX. Prospectus, as of August 20, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.66% |
| Gross expense ratio | 1.34% |
| Fee waiver | −0.36% |
| Net expense ratio | 0.98% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
ACSIX Costs Over Time
On $10,000 invested in ACSIX, assuming 5% a year before costs, total costs come to $613 over 5 years, cutting the return by 1.03% 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 0.98%) | $103 | $321 | $557 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $16 | $56 |
| Total costs | $103 | $337 | $613 |
| Value after costs | $10,397 | $11,239 | $12,150 |
| Impact on return, per year | 1.03% | 1.03% | 1.03% |
ACSIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0001%
- Total broker commissions: $69
- Bought from dealers (principal trades, not a cost): $52.6M
- Portfolio turnover (prospectus): 68%
- Securities lending: none during the year
ACSIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG, LLC | $53 | 77.94% |
| GOLDMAN SACHS & CO. LLC | $7 | 10.29% |
| CANTOR FITZGERALD & CO. | $7 | 10.29% |
| CLEAR STREET LLC | $1 | 1.47% |
| J.P. MORGAN SECURITIES LLC | $0 | 0.00% |
ACSIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $9.8M | 22.80% |
| MORGAN STANLEY | $4.9M | 11.27% |
| GOLDMAN SACHS & CO. LLC | $4.8M | 11.13% |
| J.P. MORGAN SECURITIES LLC | $4.5M | 10.44% |
| CITIGROUP GLOBAL MARKETS INC. | $4.4M | 10.10% |
| Pershing LLC | $4.1M | 9.58% |
| BANC OF AMERICA SECURITIES LLC | $3.5M | 8.15% |
| WELLS FARGO CLEARING SERVICES, LLC | $3.2M | 7.32% |
| BARCLAYS CAPITAL INC. | $2.7M | 6.21% |
| BNP PARIBAS SECURITIES CORP. | $1.3M | 3.00% |
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.