APIUX Fees and Costs — Yorktown Multi-Sector Bond Fund, Class A
Data updated: 2026-09-29
The net expense ratio is 1.16%: a 0.40% management fee, a 0.50% 12b-1 fee plus 0.25% other expenses. This share class carries a maximum front-end sales load of 5.75% and a deferred sales charge of up to 0.50%. In fiscal 2026 the fund paid $16K in broker commissions, 0.0044% of average net assets, and portfolio turnover was 46%.
APIUX Fees and Expenses
Annual operating expenses and sales charges of APIUX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.50% |
| Other expenses | 0.25% |
| Gross expense ratio | 1.16% |
| Fee waiver | — |
| Net expense ratio | 1.16% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.50% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
APIUX Costs Over Time
On $10,000 invested in APIUX, assuming 5% a year before costs, total costs come to $1,418 over 5 years, cutting the return by 2.44% 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 | $624 | $575 | $575 |
| Fund expenses (net expense ratio 1.16%) | $115 | $358 | $619 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $29 | $108 | $222 |
| Total costs | $768 | $1,042 | $1,418 |
| Value after costs | $9,732 | $10,534 | $11,345 |
| Impact on return, per year | 7.68% | 3.25% | 2.44% |
APIUX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending January 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0044%
- Total broker commissions: $16K
- Bought from dealers (principal trades, not a cost): $212.1M
- Portfolio turnover (prospectus): 46%
- Securities lending: none during the year
APIUX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| AXIOM CAPITAL MANAGEMENT, INC. | $16K | 100.00% |
APIUX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| STEPHENS INC. | $29.3M | 20.46% |
| WELLS FARGO SECURITIES LLC | $27.2M | 18.96% |
| HILLTOP SECURITIES INC. | $17.3M | 12.09% |
| MORGAN STANLEY & CO. INC. | $14.6M | 10.21% |
| CANTOR FITZGERALD & CO. | $13.4M | 9.36% |
| ACADEMY SECURITIES, INC. | $10.4M | 7.25% |
| COLLIERS SECURITIES LLC | $9.5M | 6.61% |
| DAIWA CAPITAL MARKETS AMERICA INC. | $9.0M | 6.28% |
| STIFEL NICOLAUS & COMPANY | $7.0M | 4.91% |
| J.P. MORGAN SECURITIES LLC | $5.5M | 3.87% |
Yorktown Multi-Sector Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| APIIX | Institutional Class Shares | 0.66% | none |
| APIUX | Class A | 1.16% | 5.75% |
| AFFCX | Class C | 1.66% | none |
| AFFIX | Class L | 1.66% | 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.