CLERX Fees and Costs — CLS Growth & Income Fund, Class N
Data updated: 2021-12-29
The net expense ratio is 1.56%. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $19K in broker commissions, 0.0053% of average net assets, and portfolio turnover was 16%.
CLERX Fees and Expenses
Annual operating expenses and sales charges of CLERX. Prospectus, as of August 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.44% |
| Gross expense ratio | 1.56% |
| Fee waiver | — |
| Net expense ratio | 1.56% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
CLERX Costs Over Time
On $10,000 invested in CLERX, assuming 5% a year before costs, total costs come to $968 over 5 years, cutting the return by 1.64% 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 | $876 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $25 | $89 |
| Total costs | $164 | $535 | $968 |
| Value after costs | $10,336 | $11,041 | $11,795 |
| Impact on return, per year | 1.64% | 1.64% | 1.64% |
CLERX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0053%
- Total broker commissions: $19K
- Bought from dealers (principal trades, not a cost): $50.6M
- Portfolio turnover (prospectus): 16%
- Securities on loan, average value: $43.3M
- Net income from securities lending: $840K (0.234% of average net assets)
CLERX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| WALLACHBETH | $14K | 75.10% |
| JP Morgan Chase | $5K | 24.90% |
CLERX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| VIRTUS INVESTMENT PARTNERS | $22.2M | 43.91% |
| JANE STREET EXECUTION SERVICES, LLC | $10.5M | 20.75% |
| CITADEL SECURITIES LLC | $9.0M | 17.68% |
| KNIGHT CAPITAL GROUP | $6.1M | 11.97% |
| MISCHLER FINANCIAL GROUP | $2.9M | 5.69% |
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.