ALEFX Fees and Costs — ALPS | Alerian Energy Infrastructure Portfolio, Class III
Data updated: 2026-08-24
The net expense ratio is 1.30%: a 0.70% management fee, a 0.25% 12b-1 fee plus 0.35% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $21K in broker commissions, 0.0159% of average net assets, and portfolio turnover was 30%.
ALEFX Fees and Expenses
Annual operating expenses and sales charges of ALEFX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.35% |
| Gross expense ratio | 1.30% |
| Fee waiver | — |
| Net expense ratio | 1.30% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
ALEFX Costs Over Time
On $10,000 invested in ALEFX, assuming 5% a year before costs, total costs come to $818 over 5 years, cutting the return by 1.38% 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 1.30%) | $136 | $424 | $734 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $0 | $21 | $75 |
| Total costs | $138 | $451 | $818 |
| Value after costs | $10,362 | $11,125 | $11,945 |
| Impact on return, per year | 1.38% | 1.38% | 1.38% |
ALEFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0159%
- Total broker commissions: $21K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 30%
- Securities lending: none during the year
ALEFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG, LLC | $10K | 49.65% |
| Mischler Financial Group, Inc. | $6K | 27.92% |
| OLD MISSION MARKETS LLC | $4K | 18.56% |
| Mizuho Securities USA LLC | $686 | 3.34% |
| JONESTRADING | $109 | 0.53% |
ALPS | Alerian Energy Infrastructure Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000125262 | Class I | 0.95% | — |
| ALEFX | Class III | 1.30% | — |
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.