C000214744 Fees and Costs — AXS Multi-Strategy Alternatives Fund, Investor Class
Data updated: 2024-05-22
The net expense ratio is 1.83% (2.59% before fee waivers). There are no sales loads or redemption fees. In fiscal 2023 the fund paid $20K in broker commissions, 0.1077% of average net assets, and portfolio turnover was 410%.
C000214744 Fees and Expenses
Annual operating expenses and sales charges of C000214744. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.19% |
| Gross expense ratio | 2.59% |
| Fee waiver | −0.76% |
| Net expense ratio | 1.83% |
| Sales charges | |
|---|---|
| Max front load | — |
| 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 | Yes |
C000214744 Costs Over Time
On $10,000 invested in C000214744, assuming 5% a year before costs, total costs come to $1,190 over 5 years, cutting the return by 2.03% 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 |
| Fund expenses (net expense ratio 1.83%) | $192 | $594 | $1,019 |
| Trading costs (broker commissions) | $11 | $35 | $60 |
| Lost growth on money paid in costs | $0 | $31 | $110 |
| Total costs | $203 | $660 | $1,190 |
| Value after costs | $10,297 | $10,916 | $11,573 |
| Impact on return, per year | 2.03% | 2.03% | 2.03% |
C000214744 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.1077%
- Total broker commissions: $20K
- Bought from dealers (principal trades, not a cost): $60.6M
- Portfolio turnover (prospectus): 410%
- Securities lending: none during the year
C000214744 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| WALLACHBETH CAPITAL LLC | $20K | 100.00% |
C000214744 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| COWEN AND COMPANY, LLC | $60.6M | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.