AFAAX Fees and Costs — Yorktown Capital Appreciation Fund, Institutional Class Shares
Data updated: 2023-09-29
The net expense ratio is 2.07%: a 0.60% management fee plus 1.47% other expenses. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $80K in broker commissions, 0.5250% of average net assets, and portfolio turnover was 130%.
AFAAX Fees and Expenses
Annual operating expenses and sales charges of AFAAX. Prospectus, as of May 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.47% |
| Gross expense ratio | 2.07% |
| Fee waiver | — |
| Net expense ratio | 2.07% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
AFAAX Costs Over Time
On $10,000 invested in AFAAX, assuming 5% a year before costs, total costs come to $1,572 over 5 years, cutting the return by 2.72% 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 2.07%) | $217 | $667 | $1,137 |
| Trading costs (broker commissions) | $55 | $169 | $288 |
| Lost growth on money paid in costs | $0 | $42 | $146 |
| Total costs | $272 | $878 | $1,572 |
| Value after costs | $10,228 | $10,698 | $11,191 |
| Impact on return, per year | 2.72% | 2.72% | 2.72% |
AFAAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending January 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.5250%
- Total broker commissions: $80K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 130%
- Securities lending: none during the year
AFAAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| AXIOM CAPITAL MANAGEMENT INC. | $80K | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.