CFDAX Fees and Costs — Adaptive Fundamental Growth Fund, Class A
Data updated: 2021-10-26
The net expense ratio is 1.52% (1.91% before fee waivers). This share class carries a maximum front-end sales load of 4.50%. In fiscal 2021 the fund paid $32K in broker commissions, 0.0567% of average net assets, and portfolio turnover was 148%.
CFDAX Fees and Expenses
Annual operating expenses and sales charges of CFDAX. Prospectus, as of May 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.64% |
| Gross expense ratio | 1.91% |
| Fee waiver | −0.39% |
| Net expense ratio | 1.52% |
| Sales charges | |
|---|---|
| Max front load | 4.50% |
| 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 |
CFDAX Costs Over Time
On $10,000 invested in CFDAX, assuming 5% a year before costs, total costs come to $1,505 over 5 years, cutting the return by 2.60% 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 |
| Sales charges | $450 | $450 | $450 |
| Fund expenses (net expense ratio 1.52%) | $152 | $473 | $815 |
| Trading costs (broker commissions) | $6 | $18 | $30 |
| Lost growth on money paid in costs | $22 | $95 | $210 |
| Total costs | $631 | $1,036 | $1,505 |
| Value after costs | $9,869 | $10,541 | $11,257 |
| Impact on return, per year | 6.31% | 3.23% | 2.60% |
CFDAX 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): 0.0567%
- Total broker commissions: $32K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 148%
- Securities lending: none during the year
CFDAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wallachbeth Capital, LLC | $27K | 86.37% |
| Pershing, LLC | $2K | 5.93% |
| Merrill Lynch Capital Corp. | $1K | 4.19% |
| Interactive Brokers Corp. | $1K | 3.51% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.