ESATX Fees and Costs — Parametric Research Affiliates Systematic Alternative Risk Premia Fund, Institutional Class
Data updated: 2020-06-26
The net expense ratio is 0.99%: a 0.80% management fee plus 1.48% other expenses, less a 1.29% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 0%.
ESATX Fees and Expenses
Annual operating expenses and sales charges of ESATX. Prospectus, as of November 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.48% |
| Gross expense ratio | 2.28% |
| Fee waiver | −1.29% |
| Net expense ratio | 0.99% |
| 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 | No |
ESATX Costs Over Time
On $10,000 invested in ESATX, assuming 5% a year before costs, total costs come to $619 over 5 years, cutting the return by 1.04% 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 0.99%) | $104 | $324 | $563 |
| Lost growth on money paid in costs | $0 | $16 | $57 |
| Total costs | $104 | $340 | $619 |
| Value after costs | $10,396 | $11,236 | $12,143 |
| Impact on return, per year | 1.04% | 1.04% | 1.04% |
ESATX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $38.0M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
ESATX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $12.9M | 34.86% |
| Deutsche Bank Securities Inc. | $6.0M | 16.27% |
| Wells Fargo Securities, LLC | $5.9M | 15.90% |
| Citigroup Global Markets Inc. | $5.1M | 13.64% |
| Nomura Holdings, Inc. | $1.7M | 4.59% |
| BNP Paribas Securities Corp. | $1.3M | 3.63% |
| SG Cowen International L.P. | $1.1M | 3.06% |
| JPMorgan Chase & Co. | $997K | 2.69% |
| Federal Reserve Bank of Boston | $996K | 2.69% |
| Jefferies LLC | $988K | 2.67% |
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.