C000227133 Fees and Costs — Rural America Growth & Income Fund
Data updated: 2024-05-28
The net expense ratio is 1.01%: a 0.65% management fee plus 1.66% other expenses, less a 1.31% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $850 in broker commissions, 0.0100% of average net assets, and portfolio turnover was 44%.
C000227133 Fees and Expenses
Annual operating expenses and sales charges of C000227133. Prospectus, as of April 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | — |
| Other expenses | 1.66% |
| Gross expense ratio | 2.32% |
| Fee waiver | −1.31% |
| Net expense ratio | 1.01% |
| 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 | No |
C000227133 Costs Over Time
On $10,000 invested in C000227133, assuming 5% a year before costs, total costs come to $638 over 5 years, cutting the return by 1.07% 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 1.01%) | $106 | $331 | $574 |
| Trading costs (broker commissions) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $0 | $17 | $58 |
| Total costs | $107 | $351 | $638 |
| Value after costs | $10,393 | $11,226 | $12,125 |
| Impact on return, per year | 1.07% | 1.07% | 1.07% |
C000227133 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0100%
- Total broker commissions: $850
- Bought from dealers (principal trades, not a cost): $15.9M
- Portfolio turnover (prospectus): 44%
- Securities lending: none during the year
C000227133 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Raymond James & Associates, Inc. | $808 | 94.98% |
| Morgan Stanley & Co. LLC | $28 | 3.31% |
| J.P. Morgan Securities LLC | $11 | 1.32% |
| Wells Fargo Securities, LLC | $3 | 0.40% |
C000227133 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $8.6M | 57.50% |
| BofA Securities, Inc. | $1.0M | 6.97% |
| Wells Fargo Securities, LLC | $1.0M | 6.86% |
| Morgan Stanley & Co. LLC | $793K | 5.30% |
| Barclays Capital Inc. | $718K | 4.80% |
| Santander Securities LLC | $648K | 4.33% |
| MarketAxess Corporation | $607K | 4.05% |
| J.P. Morgan Securities LLC | $574K | 3.83% |
| Goldman Sachs & Co. LLC | $568K | 3.79% |
| Janney Montgomery Scott LLC | $386K | 2.57% |
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.