AXSPX Fees and Costs — AXS Adaptive Plus Fund, Class I
Data updated: 2026-08-21
The net expense ratio is 1.99%: a 1.50% management fee plus 0.64% other expenses, less a 0.15% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $6K in broker commissions, 0.0117% of average net assets, and portfolio turnover was 0%.
AXSPX Fees and Expenses
Annual operating expenses and sales charges of AXSPX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.64% |
| Gross expense ratio | 2.14% |
| Fee waiver | −0.15% |
| Net expense ratio | 1.99% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
AXSPX Costs Over Time
On $10,000 invested in AXSPX, assuming 5% a year before costs, total costs come to $1,227 over 5 years, cutting the return by 2.10% 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 1.99%) | $209 | $645 | $1,107 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $32 | $114 |
| Total costs | $210 | $681 | $1,227 |
| Value after costs | $10,290 | $10,895 | $11,536 |
| Impact on return, per year | 2.10% | 2.10% | 2.10% |
AXSPX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0117%
- Total broker commissions: $6K
- Bought from dealers (principal trades, not a cost): $5.7M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
AXSPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| NOMURA SECURITIES INTERNATIONAL, INC. | $6K | 100.00% |
AXSPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| NOMURA SECURITIES INTERNATIONAL, INC. | $5.7M | 100.00% |
AXS Adaptive Plus Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| AXSPX | Class I | 1.99% | — |
| AXSVX | C000237933 | 2.24% | — |
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.