CPQIX Fees and Costs — Counterpoint Long-Short Equity Fund, Class I
Data updated: 2021-02-26
The net expense ratio is 1.77% (2.39% before fee waivers). There are no sales loads or redemption fees. In fiscal 2020 the fund paid $38K in broker commissions, 0.3628% of average net assets, and portfolio turnover was 324%.
CPQIX Fees and Expenses
Annual operating expenses and sales charges of CPQIX. Prospectus, as of February 29, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.12% |
| Gross expense ratio | 2.39% |
| Fee waiver | −0.62% |
| Net expense ratio | 1.77% |
| 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 | Yes |
| Waived fees subject to recoupment | Yes |
CPQIX Costs Over Time
On $10,000 invested in CPQIX, assuming 5% a year before costs, total costs come to $1,304 over 5 years, cutting the return by 2.24% 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 1.77%) | $186 | $573 | $982 |
| Trading costs (broker commissions) | $38 | $117 | $201 |
| Lost growth on money paid in costs | $0 | $34 | $121 |
| Total costs | $224 | $725 | $1,304 |
| Value after costs | $10,276 | $10,851 | $11,459 |
| Impact on return, per year | 2.24% | 2.24% | 2.24% |
CPQIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.3628%
- Total broker commissions: $38K
- Bought from dealers (principal trades, not a cost): $13.7M
- Portfolio turnover (prospectus): 324%
- Securities on loan, average value: $27K
- Net income from securities lending: $191 (0.002% of average net assets)
CPQIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| COWEN GROUP | $38K | 99.92% |
| GOLDMAN SACHS | $23 | 0.06% |
| Interactive Brokers | $6 | 0.02% |
CPQIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS | $7.3M | 52.96% |
| JPMORGAN CHASE | $2.5M | 17.88% |
| WELLS FARGO BANK | $1.6M | 11.76% |
| Citigroup | $1.4M | 10.17% |
| Interactive Brokers | $878K | 6.39% |
| COWEN GROUP | $116K | 0.85% |
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.