C000162711 Fees and Costs — AlphaSimplex Multi-Asset Fund, Class A
Data updated: 2021-03-16
The net expense ratio is 1.20% (1.67% before fee waivers). This share class carries a maximum front-end sales load of 5.75%. In fiscal 2020 the fund paid $15K in broker commissions, 0.0364% of average net assets, and portfolio turnover was 23%.
C000162711 Fees and Expenses
Annual operating expenses and sales charges of C000162711. Prospectus, as of April 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.67% |
| Gross expense ratio | 1.67% |
| Fee waiver | −0.47% |
| Net expense ratio | 1.20% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
C000162711 Costs Over Time
On $10,000 invested in C000162711, assuming 5% a year before costs, total costs come to $1,459 over 5 years, cutting the return by 2.52% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.20%) | $119 | $370 | $639 |
| Trading costs (broker commissions) | $4 | $11 | $19 |
| Lost growth on money paid in costs | $29 | $110 | $226 |
| Total costs | $726 | $1,065 | $1,459 |
| Value after costs | $9,774 | $10,511 | $11,303 |
| Impact on return, per year | 7.26% | 3.33% | 2.52% |
C000162711 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0364%
- Total broker commissions: $15K
- Bought from dealers (principal trades, not a cost): $959.6M
- Portfolio turnover (prospectus): 23%
- Securities lending: none during the year
C000162711 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $10K | 66.18% |
| Morgan Stanley & Co. LLC | $5K | 33.82% |
C000162711 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $329.0M | 34.29% |
| State Street Bank and Trust Company | $242.8M | 25.30% |
| CIBC World Markets Corp. | $168.1M | 17.52% |
| ICAP Securities USA LLC | $150.0M | 15.64% |
| Goldman Sachs & Co. LLC | $27.6M | 2.87% |
| Federal Reserve Bank of Boston | $20.4M | 2.13% |
| Pershing LLC | $16.6M | 1.73% |
| RBC Capital Markets, LLC | $4.1M | 0.43% |
| Mizuho Securities USA LLC | $1.0M | 0.10% |
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.