CMALX Fees and Costs — Crawford Multi-Asset Income Fund
Data updated: 2026-08-28
The net expense ratio is 0.99%: a 1.00% management fee plus 0.20% other expenses, less a 0.22% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $47K in broker commissions, 0.0304% of average net assets, and portfolio turnover was 18%.
CMALX Fees and Expenses
Annual operating expenses and sales charges of CMALX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | — |
| Other expenses | 0.20% |
| Gross expense ratio | 1.21% |
| Fee waiver | −0.22% |
| Net expense ratio | 0.99% |
| 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 |
CMALX Costs Over Time
On $10,000 invested in CMALX, assuming 5% a year before costs, total costs come to $638 over 5 years, cutting the return by 1.07% 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 0.99%) | $104 | $324 | $562 |
| Trading costs (broker commissions) | $3 | $10 | $17 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $107 | $351 | $638 |
| Value after costs | $10,393 | $11,225 | $12,125 |
| Impact on return, per year | 1.07% | 1.07% | 1.07% |
CMALX 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): 0.0304%
- Total broker commissions: $47K
- Bought from dealers (principal trades, not a cost): $10.4M
- Portfolio turnover (prospectus): 18%
- Securities lending: none during the year
CMALX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| COWEN AND COMPANY | $10K | 21.63% |
| BARCLAYS CAPITAL INC | $9K | 20.26% |
| STONEX FINANCIAL INC | $7K | 15.63% |
| PIPER SANDLER & CO | $7K | 14.89% |
| INSTINET LLC | $3K | 6.86% |
| JEFFERIES LLC | $3K | 6.12% |
| WELLS FARGO SECURITIES LLC | $3K | 6.02% |
| J P MORGAN SECURITIES LLC | $3K | 5.88% |
| RAYMOND JAMES & ASSOCIATES INC | $738 | 1.59% |
| GOLDMAN SACHS & CO | $520 | 1.12% |
CMALX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| OPPENHEIMER & CO. INC. | $7.9M | 75.80% |
| MORGAN STANLEY & CO INC | $653K | 6.27% |
| ALEX BROWN A DIV RJFS | $579K | 5.56% |
| SUNTRUST CAPITAL MARKETS INC | $433K | 4.15% |
| RBC CAPITAL MARKETS | $340K | 3.26% |
| STIFEL NICOLAUS AND COMPANY INC | $179K | 1.72% |
| US BANK NATIONAL ASSOCIATION | $170K | 1.63% |
| MARKETAXESS CORPORATION | $167K | 1.60% |
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.