CAPTX Fees and Costs — Canterbury Portfolio Thermostat Fund, Institutional Shares
Data updated: 2026-09-29
The net expense ratio is 4.23%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1K in broker commissions, 0.0172% of average net assets, and portfolio turnover was 59%.
CAPTX Fees and Expenses
Annual operating expenses and sales charges of CAPTX. Prospectus, as of August 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 3.13% |
| Gross expense ratio | 4.23% |
| Fee waiver | — |
| Net expense ratio | 4.23% |
| 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 | No |
CAPTX Costs Over Time
On $10,000 invested in CAPTX, assuming 5% a year before costs, total costs come to $2,490 over 5 years, cutting the return by 4.46% 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 4.23%) | $444 | $1,340 | $2,245 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $0 | $68 | $236 |
| Total costs | $446 | $1,413 | $2,490 |
| Value after costs | $10,054 | $10,163 | $10,273 |
| Impact on return, per year | 4.46% | 4.46% | 4.46% |
CAPTX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0172%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 59%
- Securities lending: none during the year
CAPTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Mischler Financial Group, Inc. | $811 | 57.81% |
| Brownstone Investment Group | $391 | 27.90% |
| Goldman Sachs & Co | $200 | 14.29% |
Canterbury Portfolio Thermostat Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CAPTX | Institutional Shares | 4.23% | — |
| CAPPX | Investor Shares | 4.62% | — |
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.