CPIEX Fees and Costs — Counterpoint Tactical Equity Fund, Class I
Data updated: 2026-08-28
The net expense ratio is 1.62%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $734K in broker commissions, 0.2217% of average net assets, and portfolio turnover was 236%.
CPIEX Fees and Expenses
Annual operating expenses and sales charges of CPIEX. Prospectus, as of February 3, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.26% |
| Gross expense ratio | 1.62% |
| Fee waiver | — |
| Net expense ratio | 1.62% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
CPIEX Costs Over Time
On $10,000 invested in CPIEX, assuming 5% a year before costs, total costs come to $1,133 over 5 years, cutting the return by 1.93% 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 1.62%) | $170 | $526 | $904 |
| Trading costs (broker commissions) | $23 | $72 | $124 |
| Lost growth on money paid in costs | $0 | $30 | $105 |
| Total costs | $193 | $628 | $1,133 |
| Value after costs | $10,307 | $10,948 | $11,630 |
| Impact on return, per year | 1.93% | 1.93% | 1.93% |
CPIEX 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): 0.2217%
- Total broker commissions: $734K
- Bought from dealers (principal trades, not a cost): $340.8M
- Portfolio turnover (prospectus): 236%
- Securities on loan, average value: $15.2M
- Net income from securities lending: $48K (0.015% of average net assets)
CPIEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| DASH FINANCIAL | $409K | 55.68% |
| CREDIT SUISSE | $168K | 22.88% |
| SUSQUEHANNA CAPITAL GROUP | $138K | 18.85% |
| GOLDMAN SACHS | $9K | 1.17% |
| CITADEL SECURITIES | $7K | 1.02% |
| JANE STREET | $2K | 0.22% |
| JPMORGAN CHASE | $1K | 0.14% |
| VIRTUS Americas LLC | $150 | 0.02% |
| GT SECURITIES, INC. | $80 | 0.01% |
| WESTMINSTER FINANCIAL | $46 | 0.01% |
CPIEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS | $141.7M | 41.58% |
| CHAPIN DAVIS & CO | $105.8M | 31.05% |
| MORGAN STANLEY | $62.0M | 18.18% |
| WELLS FARGO BANK | $29.7M | 8.71% |
| DASH FINANCIAL | $724K | 0.21% |
| CREDIT SUISSE | $499K | 0.15% |
| SUSQUEHANNA CAPITAL GROUP | $393K | 0.12% |
| CITADEL SECURITIES | $17K | 0.00% |
| WESTMINSTER FINANCIAL | $13K | 0.00% |
Counterpoint Tactical Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CPIEX | Class I | 1.62% | none |
| CPAEX | Class A | 1.87% | 5.75% |
| CPCEX | Class C | 2.62% | 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.