C000253482 Fees and Costs — NAA Mid Growth Fund
Data updated: 2026-08-19
The net expense ratio is 1.50%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.50% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $42K in broker commissions, 0.0583% of average net assets, and portfolio turnover was 144%.
C000253482 Fees and Expenses
Annual operating expenses and sales charges of C000253482. Prospectus, as of January 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.50% |
| Gross expense ratio | 1.50% |
| Fee waiver | — |
| Net expense ratio | 1.50% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
C000253482 Costs Over Time
On $10,000 invested in C000253482, assuming 5% a year before costs, total costs come to $964 over 5 years, cutting the return by 1.64% 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 1.50%) | $158 | $489 | $842 |
| Trading costs (broker commissions) | $6 | $19 | $33 |
| Lost growth on money paid in costs | $0 | $25 | $89 |
| Total costs | $164 | $533 | $964 |
| Value after costs | $10,336 | $11,043 | $11,799 |
| Impact on return, per year | 1.64% | 1.64% | 1.64% |
C000253482 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0583%
- Total broker commissions: $42K
- Bought from dealers (principal trades, not a cost): $11.4M
- Portfolio turnover (prospectus): 144%
- Securities lending: none during the year
C000253482 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS, INC | $21K | 48.75% |
| MORGAN STANLEY & CO., LLC | $12K | 27.68% |
| CANTOR FITZGERALD & CO. | $5K | 12.60% |
| JP MORGAN CHASE & CO | $4K | 10.13% |
| J.P. MORGAN SECURITIES LLC | $207 | 0.49% |
| UBS SECURITIES LLC | $68 | 0.16% |
| BOFA SECURITIES, INC. | $42 | 0.10% |
| WELLS FARGO SECURITIES, LLC | $29 | 0.07% |
| JONES TRADING INSTITUTIONAL SERVICES LLC | $8 | 0.02% |
C000253482 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO BROKERAGE SERVICES LLC | $7.4M | 65.15% |
| WELLS FARGO SECURITIES, LLC | $4.0M | 34.85% |
NAA Mid Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000253481 | Institutional Class | 1.27% | none |
| C000253482 | C000253482 | 1.50% | none |
| C000253484 | Class A | 1.52% | 4.75% |
| C000253483 | Class C | 2.27% | none |
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.