CNREX Fees and Costs — Commonwealth Real Estate Securities Fund
Data updated: 2026-09-29
The net expense ratio is 2.63%: a 0.75% management fee, a 0.25% 12b-1 fee plus 1.63% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $3K in broker commissions, 0.0200% of average net assets, and portfolio turnover was 9%.
CNREX Fees and Expenses
Annual operating expenses and sales charges of CNREX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.63% |
| Gross expense ratio | 2.63% |
| Fee waiver | — |
| Net expense ratio | 2.63% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
CNREX Costs Over Time
On $10,000 invested in CNREX, assuming 5% a year before costs, total costs come to $1,604 over 5 years, cutting the return by 2.78% 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 2.63%) | $276 | $847 | $1,443 |
| Trading costs (broker commissions) | $2 | $6 | $11 |
| Lost growth on money paid in costs | $0 | $43 | $149 |
| Total costs | $278 | $896 | $1,604 |
| Value after costs | $10,222 | $10,680 | $11,159 |
| Impact on return, per year | 2.78% | 2.78% | 2.78% |
CNREX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0200%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 9%
- Securities lending: none during the year
CNREX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CAPITAL INSTITUTIONAL SERVICES, INC | $3K | 100.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.