CPMPX Fees and Costs — Changing Parameters Fund
Data updated: 2026-10-14
The net expense ratio is 2.64%. There are no sales loads or redemption fees. Portfolio turnover was 240%.
CPMPX Fees and Expenses
Annual operating expenses and sales charges of CPMPX. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.50% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | — |
| Fee waiver | — |
| Net expense ratio | 2.64% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
CPMPX Costs Over Time
On $10,000 invested in CPMPX, assuming 5% a year before costs, total costs come to $1,598 over 5 years, cutting the return by 2.77% 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 2.64%) | $277 | $850 | $1,449 |
| Lost growth on money paid in costs | $0 | $43 | $149 |
| Total costs | $277 | $893 | $1,598 |
| Value after costs | $10,223 | $10,683 | $11,165 |
| Impact on return, per year | 2.77% | 2.77% | 2.77% |
CPMPX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $298.4M
- Portfolio turnover (prospectus): 240%
CPMPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. Bank N.A. | $211.6M | 70.90% |
| Huntington National Bank | $86.8M | 29.10% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.