EETAX Fees and Costs — Ecofin Global Energy Transition Fund, A Class
Data updated: 2023-10-17
The net expense ratio is 1.15%: a 0.80% management fee, a 0.25% 12b-1 fee plus 0.62% other expenses, less a 0.52% fee waiver. This share class carries a maximum front-end sales load of 5.50%. In fiscal 2022 the fund paid $29K in broker commissions, 0.0669% of average net assets, and portfolio turnover was 55%.
EETAX Fees and Expenses
Annual operating expenses and sales charges of EETAX. Prospectus, as of March 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.62% |
| Gross expense ratio | 1.67% |
| Fee waiver | −0.52% |
| Net expense ratio | 1.15% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| 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 |
EETAX Costs Over Time
On $10,000 invested in EETAX, assuming 5% a year before costs, total costs come to $1,418 over 5 years, cutting the return by 2.44% 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 | $550 | $550 | $550 |
| Fund expenses (net expense ratio 1.15%) | $114 | $355 | $615 |
| Trading costs (broker commissions) | $7 | $21 | $36 |
| Lost growth on money paid in costs | $27 | $105 | $218 |
| Total costs | $698 | $1,031 | $1,418 |
| Value after costs | $9,802 | $10,545 | $11,345 |
| Impact on return, per year | 6.98% | 3.22% | 2.44% |
EETAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0669%
- Total broker commissions: $29K
- Bought from dealers (principal trades, not a cost): $881K
- Portfolio turnover (prospectus): 55%
- Securities lending: none during the year
EETAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $15K | 53.23% |
| GOLDMAN SACHS & CO. LLC | $6K | 20.35% |
| UBS FINANCIAL SERVICES INC. | $2K | 6.98% |
| MAXIM GROUP LLC | $2K | 5.93% |
| CREDIT SUISSE SECURITIES (USA) LLC | $2K | 5.21% |
| INSTINET, LLC | $1K | 4.15% |
| J.P. MORGAN SECURITIES LLC | $723 | 2.51% |
| MERRILL LYNCH PROFESSIONAL CLEARING CORP. | $372 | 1.29% |
| MACKAY SHIELDS, LLC | $103 | 0.36% |
EETAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $636K | 66.35% |
| MERRILL LYNCH PROFESSIONAL CLEARING CORP. | $245K | 25.58% |
| CITIGROUP GLOBAL MARKETS | $77K | 8.07% |
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.