AXVIX Fees and Costs — Acclivity Small Cap Value Fund, Class I
Data updated: 2026-09-08
The net expense ratio is 0.58%: a 0.39% management fee plus 0.83% other expenses, less a 0.64% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2K in broker commissions, 0.0049% of average net assets, and portfolio turnover was 57%.
AXVIX Fees and Expenses
Annual operating expenses and sales charges of AXVIX. Prospectus, as of September 4, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.39% |
| 12b-1 fee | — |
| Other expenses | 0.83% |
| Gross expense ratio | 1.22% |
| Fee waiver | −0.64% |
| Net expense ratio | 0.58% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
AXVIX Costs Over Time
On $10,000 invested in AXVIX, assuming 5% a year before costs, total costs come to $369 over 5 years, cutting the return by 0.61% 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 0.58%) | $61 | $191 | $332 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $10 | $34 |
| Total costs | $61 | $202 | $369 |
| Value after costs | $10,439 | $11,374 | $12,394 |
| Impact on return, per year | 0.61% | 0.61% | 0.61% |
AXVIX 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): 0.0049%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $2.1M
- Portfolio turnover (prospectus): 57%
- Securities on loan, average value: $5.8M
- Net income from securities lending: $39K (0.121% of average net assets)
AXVIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citadel Securities | $1K | 68.28% |
| Virtu Financial | $506 | 31.72% |
AXVIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Virtu Financial | $2.1M | 100.00% |
Acclivity Small Cap Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| AXVIX | Class I | 0.58% | none |
| AXVNX | Class N | 0.83% | 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.