AIDAX Fees and Costs — Diversified Municipal Portfolio, Class A
Data updated: 2026-08-26
The net expense ratio is 0.67%: a 0.37% management fee, a 0.25% 12b-1 fee plus 0.05% other expenses. This share class carries a maximum front-end sales load of 3.00%. Portfolio turnover was 26%.
AIDAX Fees and Expenses
Annual operating expenses and sales charges of AIDAX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.37% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.05% |
| Gross expense ratio | 0.67% |
| Fee waiver | — |
| Net expense ratio | 0.67% |
| Sales charges | |
|---|---|
| Max front load | 3.00% |
| 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 |
AIDAX Costs Over Time
On $10,000 invested in AIDAX, assuming 5% a year before costs, total costs come to $792 over 5 years, cutting the return by 1.34% 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 | $300 | $300 | $300 |
| Fund expenses (net expense ratio 0.67%) | $68 | $214 | $372 |
| Lost growth on money paid in costs | $15 | $58 | $120 |
| Total costs | $383 | $571 | $792 |
| Value after costs | $10,117 | $11,005 | $11,971 |
| Impact on return, per year | 3.83% | 1.76% | 1.34% |
AIDAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $2.3B
- Portfolio turnover (prospectus): 26%
- Securities lending: none during the year
AIDAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Guardian Capital LP | $474.2M | 24.12% |
| J.P. Morgan Securities LLC | $391.6M | 19.92% |
| Wells Fargo Securities, LLC | $236.2M | 12.01% |
| Morgan Stanley & Co. LLC | $220.7M | 11.23% |
| Goldman Sachs & Co. LLC | $142.0M | 7.22% |
| RBC Capital Markets, LLC | $131.3M | 6.68% |
| BMO Capital Markets Corp. | $104.1M | 5.29% |
| Nomura Securities International, Inc. | $99.0M | 5.04% |
| BNY Capital Markets, LLC | $84.9M | 4.32% |
| Barclays Capital Inc. | $82.2M | 4.18% |
Diversified Municipal Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| AIDZX | Class Z | 0.40% | none |
| AIDYX | Advisor Class | 0.42% | none |
| SNDPX | Diversified Municipal Class | 0.49% | none |
| AIDAX | Class A | 0.67% | 3.00% |
| AIMCX | Class C | 1.42% | none |
| AIDBX | Class B | 1.56% | 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.