EQAAX Fees and Costs — Equinox Aspect Core Diversified Fund, Class A
Data updated: 2019-11-27
The net expense ratio is 1.70%: a 1.30% management fee, a 0.25% 12b-1 fee plus 0.59% other expenses, less a 0.44% fee waiver. 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 2018 the fund paid $81K in broker commissions, 0.2212% of average net assets, and portfolio turnover was 20%.
EQAAX Fees and Expenses
Annual operating expenses and sales charges of EQAAX. Prospectus, as of January 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 1.30% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.59% |
| Gross expense ratio | 2.14% |
| Fee waiver | −0.44% |
| Net expense ratio | 1.70% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
EQAAX Costs Over Time
On $10,000 invested in EQAAX, assuming 5% a year before costs, total costs come to $1,846 over 5 years, cutting the return by 3.23% 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 | $672 | $575 | $575 |
| Fund expenses (net expense ratio 1.70%) | $168 | $520 | $893 |
| Trading costs (broker commissions) | $22 | $68 | $116 |
| Lost growth on money paid in costs | $29 | $120 | $262 |
| Total costs | $891 | $1,282 | $1,846 |
| Value after costs | $9,609 | $10,294 | $10,917 |
| Impact on return, per year | 8.91% | 4.03% | 3.23% |
EQAAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2018.
- Explicit cost rate (commissions ÷ average net assets): 0.2212%
- Total broker commissions: $81K
- Bought from dealers (principal trades, not a cost): $42.5M
- Portfolio turnover (prospectus): 20%
- Securities lending: none during the year
EQAAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley | $81K | 100.00% |
EQAAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| US Bancorp | $37.9M | 89.22% |
| Deutsche Bank | $3.0M | 6.99% |
| Silver Leaf Partners | $1.2M | 2.90% |
| Morgan Stanley | $376K | 0.88% |
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.