CWEAX Fees and Costs — Catalyst/Welton Advantage Multi-Strategy Fund, Class A
Data updated: 2026-09-11
The net expense ratio is 2.27% (2.78% before fee waivers). This share class carries a maximum front-end sales load of 5.75% and a deferred sales charge of up to 1.00%. In fiscal 2026 the fund paid $339K in broker commissions, 0.6933% of average net assets, and portfolio turnover was 2575%.
CWEAX Fees and Expenses
Annual operating expenses and sales charges of CWEAX. Prospectus, as of November 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.75% |
| Gross expense ratio | 2.78% |
| Fee waiver | −0.51% |
| Net expense ratio | 2.27% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 1.00% |
| 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 |
CWEAX Costs Over Time
On $10,000 invested in CWEAX, assuming 5% a year before costs, total costs come to $2,414 over 5 years, cutting the return by 4.31% 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 | $671 | $575 | $575 |
| Fund expenses (net expense ratio 2.27%) | $225 | $687 | $1,166 |
| Trading costs (broker commissions) | $69 | $210 | $356 |
| Lost growth on money paid in costs | $29 | $136 | $316 |
| Total costs | $993 | $1,607 | $2,414 |
| Value after costs | $9,507 | $9,969 | $10,349 |
| Impact on return, per year | 9.93% | 5.10% | 4.31% |
CWEAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.6933%
- Total broker commissions: $339K
- Bought from dealers (principal trades, not a cost): $2.5B
- Portfolio turnover (prospectus): 2575%
- Securities lending: none during the year
CWEAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY SMITH BARNEY | $339K | 100.00% |
CWEAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS | $2.1B | 82.85% |
| SOCIETE GENERALE SECURITIES SERVICES | $390.2M | 15.36% |
| US BANCORP | $33.8M | 1.33% |
| JPMORGAN CHASE | $11.7M | 0.46% |
Catalyst/Welton Advantage Multi-Strategy Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CWEIX | Class I | 2.02% | none |
| CWEAX | Class A | 2.27% | 5.75% |
| CWECX | Class C | 3.02% | 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.