AEQAX Fees and Costs — Ascendant Deep Value Bond Fund
Data updated: 2020-05-28
The net expense ratio is 3.66%. This share class carries a maximum front-end sales load of 5.75% and a deferred sales charge of up to 1.00%. In fiscal 2019 the fund paid $28K in broker commissions, 0.0683% of average net assets, and portfolio turnover was 100%.
AEQAX Fees and Expenses
Annual operating expenses and sales charges of AEQAX. Prospectus, as of January 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.15% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.48% |
| Gross expense ratio | 3.66% |
| Fee waiver | — |
| Net expense ratio | 3.66% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 1.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
AEQAX Costs Over Time
On $10,000 invested in AEQAX, assuming 5% a year before costs, total costs come to $2,815 over 5 years, cutting the return by 5.10% 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 |
| Sales charges | $670 | $575 | $575 |
| Fund expenses (net expense ratio 3.66%) | $362 | $1,098 | $1,851 |
| Trading costs (broker commissions) | $7 | $20 | $35 |
| Lost growth on money paid in costs | $29 | $147 | $355 |
| Total costs | $1,068 | $1,841 | $2,815 |
| Value after costs | $9,432 | $9,735 | $9,948 |
| Impact on return, per year | 10.68% | 5.89% | 5.10% |
AEQAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0683%
- Total broker commissions: $28K
- Bought from dealers (principal trades, not a cost): $51.1M
- Portfolio turnover (prospectus): 100%
- Securities lending: none during the year
AEQAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| American Wealth Management | $28K | 99.58% |
| Stifel Nicolaus | $120 | 0.42% |
AEQAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MUFG Union Bank, National Association | $51.1M | 100.00% |
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.