DEBTX Fees and Costs — Shelton Tactical Credit Fund, Investor Class
Data updated: 2026-08-31
The net expense ratio is 0.99%: a 0.74% management fee, a 0.25% 12b-1 fee plus 0.39% other expenses, less a 0.39% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $9K in broker commissions, 0.0198% of average net assets, and portfolio turnover was 107%.
DEBTX Fees and Expenses
Annual operating expenses and sales charges of DEBTX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.74% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.39% |
| Gross expense ratio | 1.38% |
| Fee waiver | −0.39% |
| Net expense ratio | 0.99% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
DEBTX Costs Over Time
On $10,000 invested in DEBTX, assuming 5% a year before costs, total costs come to $632 over 5 years, cutting the return by 1.06% 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 0.99%) | $104 | $324 | $562 |
| Trading costs (broker commissions) | $2 | $6 | $11 |
| Lost growth on money paid in costs | $0 | $16 | $58 |
| Total costs | $106 | $347 | $632 |
| Value after costs | $10,394 | $11,229 | $12,131 |
| Impact on return, per year | 1.06% | 1.06% | 1.06% |
DEBTX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0198%
- Total broker commissions: $9K
- Bought from dealers (principal trades, not a cost): $144.6M
- Portfolio turnover (prospectus): 107%
- Securities lending: none during the year
DEBTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CANTOR FITZGERALD | $6K | 68.29% |
| STIFEL NICOLAUS | $3K | 31.71% |
DEBTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE | $69.7M | 47.71% |
| BANK OF AMERICA MERRILL LYNCH | $17.4M | 11.87% |
| CITIGROUP | $15.3M | 10.45% |
| MORGAN STANLEY SMITH BARNEY | $10.8M | 7.40% |
| MARKETAXESS | $9.2M | 6.28% |
| WELLS FARGO BANK | $8.7M | 5.93% |
| BARCLAYS CAPITAL, INC. | $7.2M | 4.93% |
| GOLDMAN SACHS & CO. LLC | $3.9M | 2.69% |
| UBS AG | $2.5M | 1.70% |
| STIFEL NICOLAUS | $1.5M | 1.03% |
Shelton Tactical Credit Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| DEBIX | Institutional Class | 0.74% | — |
| DEBTX | Investor Class | 0.99% | — |
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.