CEISX Fees and Costs — Callodine Equity Income Series, Class S
Data updated: 2026-08-21
The net expense ratio is 1.20%: a 0.70% management fee, a 0.25% 12b-1 fee plus 0.25% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $379K in broker commissions, 0.1974% of average net assets, and portfolio turnover was 70%.
CEISX Fees and Expenses
Annual operating expenses and sales charges of CEISX. Prospectus, as of March 13, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.25% |
| Gross expense ratio | 1.20% |
| Fee waiver | — |
| Net expense ratio | 1.20% |
| 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 | Yes |
CEISX Costs Over Time
On $10,000 invested in CEISX, assuming 5% a year before costs, total costs come to $867 over 5 years, cutting the return by 1.47% 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 1.20%) | $126 | $392 | $676 |
| Trading costs (broker commissions) | $21 | $64 | $111 |
| Lost growth on money paid in costs | $0 | $23 | $80 |
| Total costs | $147 | $479 | $867 |
| Value after costs | $10,353 | $11,098 | $11,896 |
| Impact on return, per year | 1.47% | 1.47% | 1.47% |
CEISX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1974%
- Total broker commissions: $379K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 70%
- Securities lending: none during the year
CEISX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $377K | 99.59% |
| GOLDMAN SACHS & CO. LLC | $2K | 0.41% |
Callodine Equity Income Series Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CEIZX | Class Z | 0.80% | — |
| CEIIX | Class I | 0.95% | — |
| CEISX | Class S | 1.20% | — |
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.