C000224299 Fees and Costs — Easterly Hedge High Income, Class I
Data updated: 2021-11-12
The net expense ratio is 2.37% (2.93% before fee waivers). There are no sales loads or redemption fees. In fiscal 2021 the fund paid $7K in broker commissions, 0.0315% of average net assets, and portfolio turnover was 277%.
C000224299 Fees and Expenses
Annual operating expenses and sales charges of C000224299. Prospectus, as of March 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 1.70% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.70% |
| Gross expense ratio | 2.93% |
| Fee waiver | −0.56% |
| Net expense ratio | 2.37% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| 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 |
C000224299 Costs Over Time
On $10,000 invested in C000224299, assuming 5% a year before costs, total costs come to $1,461 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 |
| Fund expenses (net expense ratio 2.37%) | $249 | $765 | $1,307 |
| Trading costs (broker commissions) | $3 | $10 | $17 |
| Lost growth on money paid in costs | $0 | $39 | $136 |
| Total costs | $252 | $814 | $1,461 |
| Value after costs | $10,248 | $10,762 | $11,302 |
| Impact on return, per year | 2.52% | 2.52% | 2.52% |
C000224299 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0315%
- Total broker commissions: $7K
- Bought from dealers (principal trades, not a cost): $215.9M
- Portfolio turnover (prospectus): 277%
- Securities lending: none during the year
C000224299 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE | $6K | 81.90% |
| BOREAL CAPITAL MANAGEMENT | $719 | 9.66% |
| GOLDMAN SACHS | $311 | 4.17% |
| KNIGHT CAPITAL GROUP | $225 | 3.03% |
| WEEDEN & CO | $51 | 0.69% |
| UBS AG | $40 | 0.54% |
| ITG | $2 | 0.02% |
C000224299 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE | $103.6M | 61.71% |
| UBS AG | $10.9M | 6.51% |
| CITIGROUP | $9.2M | 5.46% |
| BANK OF AMERICA MERRILL LYNCH | $9.1M | 5.39% |
| CANTOR FITZGERALD | $6.4M | 3.79% |
| STIFEL NICOLAUS | $6.2M | 3.71% |
| CREDIT SUISSE FIRST BOSTON | $6.2M | 3.69% |
| DEUTSCHE BANK | $5.8M | 3.45% |
| WELLS FARGO BANK | $5.7M | 3.39% |
| MORGAN STANLEY SMITH BARNEY | $4.9M | 2.89% |
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.