CPATX Fees and Costs — Counterpoint Tactical Income Fund, Class A
Data updated: 2026-08-28
The net expense ratio is 2.12%. This share class carries a maximum front-end sales load of 4.50%. In fiscal 2025 the fund paid $482K in broker commissions, 0.0249% of average net assets, and portfolio turnover was 94%.
CPATX Fees and Expenses
Annual operating expenses and sales charges of CPATX. Prospectus, as of February 3, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.19% |
| Gross expense ratio | 2.12% |
| Fee waiver | — |
| Net expense ratio | 2.12% |
| 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 | No |
| Waived fees subject to recoupment | No |
CPATX Costs Over Time
On $10,000 invested in CPATX, assuming 5% a year before costs, total costs come to $1,827 over 5 years, cutting the return by 3.19% 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 2.12%) | $213 | $655 | $1,123 |
| Trading costs (broker commissions) | $2 | $8 | $13 |
| Lost growth on money paid in costs | $22 | $104 | $240 |
| Total costs | $688 | $1,217 | $1,827 |
| Value after costs | $9,812 | $10,359 | $10,936 |
| Impact on return, per year | 6.88% | 3.82% | 3.19% |
CPATX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0249%
- Total broker commissions: $482K
- Bought from dealers (principal trades, not a cost): $7.0B
- Portfolio turnover (prospectus): 94%
- Securities on loan, average value: $224.2M
- Net income from securities lending: $514K (0.027% of average net assets)
CPATX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JANE STREET | $153K | 31.74% |
| JPMORGAN CHASE | $139K | 28.78% |
| CITADEL SECURITIES | $59K | 12.34% |
| BofA Securities, Inc. | $51K | 10.69% |
| DASH FINANCIAL | $46K | 9.63% |
| SUSQUEHANNA CAPITAL GROUP | $12K | 2.41% |
| VIRTUS Americas LLC | $7K | 1.46% |
| CREDIT SUISSE | $7K | 1.38% |
| GOLDMAN SACHS | $6K | 1.33% |
| MORGAN STANLEY | $1K | 0.23% |
CPATX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE | $2.9B | 41.02% |
| WELLS FARGO BANK | $1.1B | 15.37% |
| MORGAN STANLEY | $1.1B | 15.23% |
| GOLDMAN SACHS | $749.6M | 10.71% |
| CHAPIN DAVIS & CO | $735.1M | 10.50% |
| BofA Securities, Inc. | $501.7M | 7.17% |
| DASH FINANCIAL | $4K | 0.00% |
Counterpoint Tactical Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CPITX | Class I | 1.87% | none |
| CPATX | Class A | 2.12% | 4.50% |
| CPCTX | Class C | 2.87% | none |
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.