C000199967 Fees and Costs — Cognios Market Neutral Large Cap Fund, Investor Class
Data updated: 2021-02-25
The net expense ratio is 4.35%: a 1.40% management fee, a 0.25% 12b-1 fee plus 3.22% other expenses, less a 0.52% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $66K in broker commissions, 0.1014% of average net assets, and portfolio turnover was 137%.
C000199967 Fees and Expenses
Annual operating expenses and sales charges of C000199967. Prospectus, as of October 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.40% |
| 12b-1 fee | 0.25% |
| Other expenses | 3.22% |
| Gross expense ratio | 4.87% |
| Fee waiver | −0.52% |
| Net expense ratio | 4.35% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
C000199967 Costs Over Time
On $10,000 invested in C000199967, assuming 5% a year before costs, total costs come to $2,599 over 5 years, cutting the return by 4.67% 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 4.35%) | $457 | $1,375 | $2,299 |
| Trading costs (broker commissions) | $11 | $32 | $54 |
| Lost growth on money paid in costs | $0 | $71 | $246 |
| Total costs | $467 | $1,478 | $2,599 |
| Value after costs | $10,033 | $10,098 | $10,164 |
| Impact on return, per year | 4.67% | 4.67% | 4.67% |
C000199967 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.1014%
- Total broker commissions: $66K
- Bought from dealers (principal trades, not a cost): $948
- Portfolio turnover (prospectus): 137%
- Securities lending: none during the year
C000199967 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BNP Paribas | $22K | 33.66% |
| Cowen & Company | $21K | 31.63% |
| BTIG, LLC | $15K | 22.93% |
| LEK Securities Corp. | $8K | 11.78% |
C000199967 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Cowen & Company | $783 | 82.59% |
| LEK Securities Corp. | $165 | 17.41% |
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.