DRISX Fees and Costs — North Square Small Cap Value Fund, Class I
Data updated: 2026-09-25
The net expense ratio is 1.07%: a 0.85% management fee plus 0.22% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $139K in broker commissions, 0.0745% of average net assets, and portfolio turnover was 50%.
DRISX Fees and Expenses
Annual operating expenses and sales charges of DRISX. Prospectus, as of September 25, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | — |
| Other expenses | 0.22% |
| Gross expense ratio | 1.07% |
| Fee waiver | — |
| Net expense ratio | 1.07% |
| 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 |
DRISX Costs Over Time
On $10,000 invested in DRISX, assuming 5% a year before costs, total costs come to $714 over 5 years, cutting the return by 1.20% 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 1.07%) | $112 | $350 | $606 |
| Trading costs (broker commissions) | $8 | $24 | $42 |
| Lost growth on money paid in costs | $0 | $19 | $66 |
| Total costs | $120 | $393 | $714 |
| Value after costs | $10,380 | $11,183 | $12,049 |
| Impact on return, per year | 1.20% | 1.20% | 1.20% |
DRISX 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): 0.0745%
- Total broker commissions: $139K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 50%
- Securities lending: none during the year
DRISX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES INC | $61K | 44.05% |
| INSTINET LLC | $19K | 14.05% |
| RAYMOND JAMES & ASSOCIATES INC | $16K | 11.89% |
| PERSHING LLC | $11K | 8.22% |
| GOLDMAN SACHS & CO | $10K | 6.96% |
| UBS SECURITIES LLC | $8K | 6.06% |
| COWEN & COMPANY LLC | $5K | 3.93% |
| D.A. DAVIDSON & CO. | $3K | 2.49% |
| BNY MELLON CAPITAL MARKETS LLC | $2K | 1.34% |
| STIFEL NICOLAUS & COMPANY INC | $1K | 1.01% |
North Square Small Cap Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| DRISX | Class I | 1.07% | — |
| DRSVX | Investor Class | 1.33% | — |
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.