C000228949 Fees and Costs — Stone Ridge Bitcoin Strategy Fund, Class M
Data updated: 2022-09-29
The net expense ratio is 1.43%: a 0.50% management fee, a 0.15% 12b-1 fee plus 3.80% other expenses, less a 3.02% fee waiver. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $1K in broker commissions, 0.0083% of average net assets, and portfolio turnover was 0%.
C000228949 Fees and Expenses
Annual operating expenses and sales charges of C000228949. Prospectus, as of February 28, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.15% |
| Other expenses | 3.80% |
| Gross expense ratio | 4.45% |
| Fee waiver | −3.02% |
| Net expense ratio | 1.43% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
C000228949 Costs Over Time
On $10,000 invested in C000228949, assuming 5% a year before costs, total costs come to $892 over 5 years, cutting the return by 1.51% 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 1.43%) | $150 | $466 | $805 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $23 | $82 |
| Total costs | $151 | $492 | $892 |
| Value after costs | $10,349 | $11,084 | $11,871 |
| Impact on return, per year | 1.51% | 1.51% | 1.51% |
C000228949 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0083%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $56.9M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
C000228949 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| E D & F MAN CAPITAL MARKETS INC. | $1K | 100.00% |
C000228949 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CIBC WORLD MARKETS CORP. | $41.8M | 73.39% |
| BNY MELLON CAPITAL MARKETS LLC | $15.2M | 26.61% |
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.