C000253497 Fees and Costs — NAA World Equity Income Fund
Data updated: 2026-08-19
The net expense ratio is 1.17%: a 0.70% management fee, a 0.25% 12b-1 fee plus 0.59% other expenses, less a 0.37% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $27K in broker commissions, 0.0583% of average net assets, and portfolio turnover was 108%.
C000253497 Fees and Expenses
Annual operating expenses and sales charges of C000253497. Prospectus, as of January 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.59% |
| Gross expense ratio | 1.54% |
| Fee waiver | −0.37% |
| Net expense ratio | 1.17% |
| 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 | Yes |
| Waived fees subject to recoupment | Yes |
C000253497 Costs Over Time
On $10,000 invested in C000253497, assuming 5% a year before costs, total costs come to $765 over 5 years, cutting the return by 1.29% 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 1.17%) | $123 | $382 | $662 |
| Trading costs (broker commissions) | $6 | $19 | $33 |
| Lost growth on money paid in costs | $0 | $20 | $70 |
| Total costs | $129 | $421 | $765 |
| Value after costs | $10,371 | $11,155 | $11,998 |
| Impact on return, per year | 1.29% | 1.29% | 1.29% |
C000253497 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: $27K
- Bought from dealers (principal trades, not a cost): $46K
- Portfolio turnover (prospectus): 108%
- Securities lending: none during the year
C000253497 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET LLC | $27K | 98.96% |
| J.P. MORGAN SECURITIES LLC | $86 | 0.31% |
| CITIGROUP GLOBAL MARKETS, INC | $83 | 0.30% |
| MORGAN STANLEY & CO., LLC | $52 | 0.19% |
| BLOOMBERG TRADEBOOK LLC | $22 | 0.08% |
| BOFA SECURITIES, INC. | $15 | 0.05% |
| UBS SECURITIES LLC | $14 | 0.05% |
| JP MORGAN CHASE & CO | $11 | 0.04% |
| JONES TRADING INSTITUTIONAL SERVICES LLC | $2 | 0.01% |
| CANTOR FITZGERALD & CO. | $2 | 0.01% |
C000253497 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| INSTINET LLC | $46K | 100.00% |
NAA World Equity Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000253499 | Institutional Class | 0.92% | none |
| C000253497 | C000253497 | 1.17% | none |
| C000253500 | Class A | 1.17% | 4.75% |
| C000253498 | Class C | 1.92% | 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.