C000214223 Fees and Costs — Alternative Risk Premia Fund, Class NAV
Data updated: 2021-06-28
The net expense ratio is 1.42%: a 1.00% management fee plus 0.43% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $59K in broker commissions, 0.0443% of average net assets, and portfolio turnover was 318%.
C000214223 Fees and Expenses
Annual operating expenses and sales charges of C000214223. Prospectus, as of February 28, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | — |
| Other expenses | 0.43% |
| Gross expense ratio | 1.43% |
| Fee waiver | −0.01% |
| Net expense ratio | 1.42% |
| Sales charges | |
|---|---|
| Max front load | — |
| 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 | No |
C000214223 Costs Over Time
On $10,000 invested in C000214223, assuming 5% a year before costs, total costs come to $907 over 5 years, cutting the return by 1.54% 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 1.42%) | $149 | $463 | $799 |
| Trading costs (broker commissions) | $5 | $14 | $25 |
| Lost growth on money paid in costs | $0 | $24 | $84 |
| Total costs | $154 | $501 | $907 |
| Value after costs | $10,346 | $11,075 | $11,855 |
| Impact on return, per year | 1.54% | 1.54% | 1.54% |
C000214223 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0443%
- Total broker commissions: $59K
- Bought from dealers (principal trades, not a cost): $383.0M
- Portfolio turnover (prospectus): 318%
- Securities lending: none during the year
C000214223 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS AG | $58K | 99.56% |
| Morgan Stanley & Co. LLC | $192 | 0.33% |
| Stifel, Nicolaus & Company, Incorporated | $62 | 0.11% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $6 | 0.01% |
C000214223 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UBS AG | $215.0M | 56.13% |
| J.P. Morgan Securities LLC | $64.8M | 16.92% |
| Citigroup Global Markets Holdings Inc. | $49.1M | 12.81% |
| Goldman Sachs & Co. LLC | $26.4M | 6.91% |
| Morgan Stanley & Co. LLC | $15.6M | 4.08% |
| Barclays Bank PLC | $12.0M | 3.13% |
| Stifel, Nicolaus & Company, Incorporated | $103K | 0.03% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $19K | 0.00% |
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.