CADTX Fees and Costs — Adaptive Hedged Multi-Asset Income Fund, Institutional Class Shares
Data updated: 2021-10-26
The net expense ratio is 1.36% (1.97% before fee waivers). There are no sales loads or redemption fees. In fiscal 2021 the fund paid $21K in broker commissions, 0.0527% of average net assets, and portfolio turnover was 149%.
CADTX Fees and Expenses
Annual operating expenses and sales charges of CADTX. Prospectus, as of May 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.86% |
| Gross expense ratio | 1.97% |
| Fee waiver | −0.61% |
| Net expense ratio | 1.36% |
| 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 |
CADTX Costs Over Time
On $10,000 invested in CADTX, assuming 5% a year before costs, total costs come to $876 over 5 years, cutting the return by 1.48% 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 1.36%) | $143 | $444 | $766 |
| Trading costs (broker commissions) | $6 | $17 | $30 |
| Lost growth on money paid in costs | $0 | $23 | $81 |
| Total costs | $148 | $484 | $876 |
| Value after costs | $10,352 | $11,093 | $11,886 |
| Impact on return, per year | 1.48% | 1.48% | 1.48% |
CADTX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0527%
- Total broker commissions: $21K
- Bought from dealers (principal trades, not a cost): $35.1M
- Portfolio turnover (prospectus): 149%
- Securities lending: none during the year
CADTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wallachbeth Capital, LLC | $21K | 100.00% |
CADTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Arkadios Capital, LLC | $34.0M | 96.95% |
| Amherst Pierpoint Securities LLC | $646K | 1.84% |
| Goldman Sachs & Co., LLC | $372K | 1.06% |
| Barclays Capital Holdings, Inc. | $50K | 0.14% |
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.