BRBPX Fees and Costs — Managed Volatility Fund, Class N
Data updated: 2024-11-22
The net expense ratio is 0.95%: a 0.60% management fee plus 0.68% other expenses, less a 0.34% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $20K in broker commissions, 0.0646% of average net assets, and portfolio turnover was 9%.
BRBPX Fees and Expenses
Annual operating expenses and sales charges of BRBPX. Prospectus, as of October 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.68% |
| Gross expense ratio | 1.29% |
| Fee waiver | −0.34% |
| Net expense ratio | 0.95% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
BRBPX Costs Over Time
On $10,000 invested in BRBPX, assuming 5% a year before costs, total costs come to $634 over 5 years, cutting the return by 1.07% 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 0.95%) | $100 | $311 | $540 |
| Trading costs (broker commissions) | $7 | $21 | $37 |
| Lost growth on money paid in costs | $0 | $16 | $58 |
| Total costs | $107 | $349 | $634 |
| Value after costs | $10,393 | $11,227 | $12,128 |
| Impact on return, per year | 1.07% | 1.07% | 1.07% |
BRBPX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0646%
- Total broker commissions: $20K
- Bought from dealers (principal trades, not a cost): $38.5M
- Portfolio turnover (prospectus): 9%
- Securities lending: none during the year
BRBPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| HOLISTIC BROKERAGE, LLC | $10K | 52.37% |
| BTIG, LLC | $9K | 47.60% |
| VIRTU AMERICAS LLC | $6 | 0.03% |
BRBPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Bank of New York Mellon | $38.5M | 100.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.