BTSAX Fees and Costs — BTS Managed Income Fund, Class A
Data updated: 2026-08-24
The net expense ratio is 2.02% (4.70% before fee waivers). This share class carries a maximum front-end sales load of 3.75% and a deferred sales charge of up to 1.00%. In fiscal 2025 the fund paid $9K in broker commissions, 0.1170% of average net assets, and portfolio turnover was 413%.
BTSAX Fees and Expenses
Annual operating expenses and sales charges of BTSAX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.25% |
| Other expenses | 3.53% |
| Gross expense ratio | 4.70% |
| Fee waiver | −2.68% |
| Net expense ratio | 2.02% |
| Sales charges | |
|---|---|
| Max front load | 3.75% |
| Max deferred load | 1.00% |
| 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 |
BTSAX Costs Over Time
On $10,000 invested in BTSAX, assuming 5% a year before costs, total costs come to $1,736 over 5 years, cutting the return by 3.03% 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 | $474 | $375 | $375 |
| Fund expenses (net expense ratio 2.02%) | $204 | $629 | $1,079 |
| Trading costs (broker commissions) | $12 | $36 | $62 |
| Lost growth on money paid in costs | $19 | $92 | $220 |
| Total costs | $709 | $1,133 | $1,736 |
| Value after costs | $9,791 | $10,443 | $11,027 |
| Impact on return, per year | 7.09% | 3.54% | 3.03% |
BTSAX 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): 0.1170%
- Total broker commissions: $9K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 413%
- Securities lending: none during the year
BTSAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wallachbeth Capital, LLC | $9K | 100.00% |
BTS Managed Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BTSIX | Class I | 1.77% | none |
| BTSAX | Class A | 2.02% | 3.75% |
| BTSRX | Class R | 2.27% | none |
| BTSCX | Class C | 2.77% | 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.