CRATX Fees and Costs — CCM Community Impact Bond Fund, Retail Shares
Data updated: 2026-09-28
The net expense ratio is 0.78%: a 0.30% management fee, a 0.25% 12b-1 fee plus 0.23% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 34%.
CRATX Fees and Expenses
Annual operating expenses and sales charges of CRATX. Prospectus, as of October 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.23% |
| Gross expense ratio | 0.78% |
| Fee waiver | — |
| Net expense ratio | 0.78% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
CRATX Costs Over Time
On $10,000 invested in CRATX, assuming 5% a year before costs, total costs come to $490 over 5 years, cutting the return by 0.82% 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 0.78%) | $82 | $256 | $445 |
| Lost growth on money paid in costs | $0 | $13 | $45 |
| Total costs | $82 | $269 | $490 |
| Value after costs | $10,418 | $11,307 | $12,273 |
| Impact on return, per year | 0.82% | 0.82% | 0.82% |
CRATX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $2.5B
- Portfolio turnover (prospectus): 34%
- Securities lending: none during the year
CRATX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| NOMURA | $336.5M | 19.90% |
| DUNCAN WILLIAMS | $207.2M | 12.25% |
| TIGRESS FINANCIAL PARTNERS LLC | $196.3M | 11.61% |
| CITADEL SECURITIES | $162.4M | 9.60% |
| WELLS FARGO | $157.7M | 9.33% |
| BNP PARIBAS | $137.9M | 8.15% |
| DAIWA SECURITIES AMERICA, INC. | $136.1M | 8.05% |
| CITIGROUP | $122.3M | 7.23% |
| MONTGOMERY/BANK OF AMERICA | $122.2M | 7.23% |
| J P MORGAN CHASE BANK | $112.3M | 6.64% |
CCM Community Impact Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CRANX | Institutional Shares | 0.43% | none |
| CRATX | Retail Shares | 0.78% | none |
| CRAIX | CRA Shares | 0.88% | 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.