AFLEX Fees and Costs — Anfield Universal Fixed Income Fund, Class A
Data updated: 2026-09-29
The net expense ratio is 1.53%. This share class carries a maximum front-end sales load of 5.75%. Portfolio turnover was 42%.
AFLEX Fees and Expenses
Annual operating expenses and sales charges of AFLEX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.46% |
| Gross expense ratio | 1.53% |
| Fee waiver | — |
| Net expense ratio | 1.53% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
AFLEX Costs Over Time
On $10,000 invested in AFLEX, assuming 5% a year before costs, total costs come to $1,626 over 5 years, cutting the return by 2.82% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.53%) | $151 | $470 | $810 |
| Lost growth on money paid in costs | $29 | $114 | $241 |
| Total costs | $755 | $1,159 | $1,626 |
| Value after costs | $9,745 | $10,417 | $11,136 |
| Impact on return, per year | 7.55% | 3.63% | 2.82% |
AFLEX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $101.0M
- Portfolio turnover (prospectus): 42%
- Securities lending: none during the year
AFLEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOND POINT | $68.0M | 67.38% |
| RAYMOND JAMES | $15.3M | 15.16% |
| JPMORGAN CHASE | $11.7M | 11.59% |
| STIFEL NICOLAUS | $4.4M | 4.38% |
| JEFFERIES GROUP | $1.0M | 0.99% |
| BARCLAYS CAPITAL, INC. | $499K | 0.49% |
Anfield Universal Fixed Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000124332 | Class I | 1.27% | none |
| AFLEX | Class A | 1.53% | 5.75% |
| AFLKX | Class C | 2.28% | 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.