EQIPX Fees and Costs — Equinox IPM Systematic Macro Fund, Class I
Data updated: 2020-03-25
The net expense ratio is 1.89% (2.09% before fee waivers). There are no sales loads or redemption fees. Portfolio turnover was 54%.
EQIPX Fees and Expenses
Annual operating expenses and sales charges of EQIPX. Prospectus, as of October 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 1.68% |
| 12b-1 fee | — |
| Other expenses | — |
| Gross expense ratio | 2.09% |
| Fee waiver | −0.20% |
| Net expense ratio | 1.89% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| 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 |
EQIPX Costs Over Time
On $10,000 invested in EQIPX, assuming 5% a year before costs, total costs come to $1,161 over 5 years, cutting the return by 1.98% 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 1.89%) | $198 | $613 | $1,054 |
| Lost growth on money paid in costs | $0 | $31 | $107 |
| Total costs | $198 | $644 | $1,161 |
| Value after costs | $10,302 | $10,932 | $11,601 |
| Impact on return, per year | 1.98% | 1.98% | 1.98% |
EQIPX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending January 17, 2020.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $382.2M
- Portfolio turnover (prospectus): 54%
- Securities lending: none during the year
EQIPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. Bank N.A. | $358.2M | 93.72% |
| Morgan Stanley | $24.0M | 6.28% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.