ANCIX Fees and Costs — Ancora Microcap Fund, Class I
Data updated: 2026-03-05
The net expense ratio is 1.70% (1.73% before fee waivers). This share class carries a redemption fee of 2.00%. In fiscal 2025 the fund paid $14K in broker commissions, 0.0772% of average net assets, and portfolio turnover was 29%.
ANCIX Fees and Expenses
Annual operating expenses and sales charges of ANCIX. Prospectus, as of April 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.63% |
| Gross expense ratio | 1.73% |
| Fee waiver | −0.03% |
| Net expense ratio | 1.70% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
ANCIX Costs Over Time
On $10,000 invested in ANCIX, assuming 5% a year before costs, total costs come to $1,095 over 5 years, cutting the return by 1.87% 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 1.70%) | $178 | $552 | $950 |
| Trading costs (broker commissions) | $8 | $25 | $43 |
| Lost growth on money paid in costs | $0 | $29 | $101 |
| Total costs | $187 | $606 | $1,095 |
| Value after costs | $10,313 | $10,970 | $11,668 |
| Impact on return, per year | 1.87% | 1.87% | 1.87% |
ANCIX 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): 0.0772%
- Total broker commissions: $14K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 29%
- Securities lending: none during the year
ANCIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies, LLC | $5K | 38.71% |
| Jonestrading Institutional Services LLC | $3K | 19.41% |
| Needham & Co., LLC | $3K | 18.89% |
| LIQUIDNET, INC. | $1K | 8.03% |
| STONEX FINANCIAL INC. | $822 | 5.87% |
| GREAT PACIFIC SECURITIES | $742 | 5.30% |
| Strategas Securities LLC | $302 | 2.16% |
| PIPER SANDLER & CO. | $82 | 0.58% |
| CRAIG-HALLUM CAPITAL GROUP LLC | $78 | 0.56% |
| RAYMOND JAMES & ASSOCIATES, INC. | $68 | 0.49% |
Ancora Microcap Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ANCSX | Class S | 1.54% | none |
| ANCIX | Class I | 1.70% | 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.