EFCNX Fees and Costs — Emerald Insights Fund, Investor Class
Data updated: 2025-09-25
The net expense ratio is 1.40%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.91% other expenses, less a 0.51% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $26K in broker commissions, 0.1152% of average net assets, and portfolio turnover was 65%.
EFCNX Fees and Expenses
Annual operating expenses and sales charges of EFCNX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.91% |
| Gross expense ratio | 1.91% |
| Fee waiver | −0.51% |
| Net expense ratio | 1.40% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
EFCNX Costs Over Time
On $10,000 invested in EFCNX, assuming 5% a year before costs, total costs come to $938 over 5 years, cutting the return by 1.59% 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 1.40%) | $147 | $456 | $787 |
| Trading costs (broker commissions) | $12 | $38 | $65 |
| Lost growth on money paid in costs | $0 | $25 | $86 |
| Total costs | $159 | $518 | $938 |
| Value after costs | $10,341 | $11,058 | $11,825 |
| Impact on return, per year | 1.59% | 1.59% | 1.59% |
EFCNX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1152%
- Total broker commissions: $26K
- Bought from dealers (principal trades, not a cost): $72K
- Portfolio turnover (prospectus): 65%
- Securities lending: none during the year
EFCNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JPMorgan Chase | $9K | 36.63% |
| Sturdivant | $6K | 25.37% |
| Royal Bank Of Canada | $4K | 15.51% |
| LOOP CAPITAL MARKETS LLC | $2K | 8.23% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $868 | 3.54% |
| CRAIG-HALLUM CAPITAL GROUP LLC | $757 | 3.09% |
| Bloomberg Tradebook | $678 | 2.76% |
| Piper Sandler | $451 | 1.84% |
| Cowen Group | $390 | 1.59% |
| NEEDHAM & COMPANY, LLC | $353 | 1.44% |
EFCNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Piper Sandler | $32K | 43.62% |
| GOLDMAN SACHS & CO. LLC | $27K | 36.88% |
| JPMORGAN DISTRIBUTION SERVICES, INC. | $14K | 19.50% |
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.