CATEX Fees and Costs — Cavalier Growth Opportunities Fund, Institutional Class Shares
Data updated: 2021-04-27
The net expense ratio is 1.56% (1.88% before fee waivers). There are no sales loads or redemption fees. In fiscal 2020 the fund paid $58K in broker commissions, 0.0904% of average net assets, and portfolio turnover was 320%.
CATEX Fees and Expenses
Annual operating expenses and sales charges of CATEX. Prospectus, as of December 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.57% |
| Gross expense ratio | 1.88% |
| Fee waiver | −0.32% |
| Net expense ratio | 1.56% |
| 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 |
CATEX Costs Over Time
On $10,000 invested in CATEX, assuming 5% a year before costs, total costs come to $1,019 over 5 years, cutting the return by 1.73% 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 1.56%) | $164 | $508 | $874 |
| Trading costs (broker commissions) | $9 | $29 | $51 |
| Lost growth on money paid in costs | $0 | $27 | $94 |
| Total costs | $173 | $564 | $1,019 |
| Value after costs | $10,327 | $11,012 | $11,744 |
| Impact on return, per year | 1.73% | 1.73% | 1.73% |
CATEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0904%
- Total broker commissions: $58K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 320%
- Securities lending: none during the year
CATEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wallachbeth Capital | $52K | 89.96% |
| Interactive Broker LLC | $6K | 10.04% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.