ESCWX Fees and Costs — Embark Small Cap Equity Fund, Institutional Class
Data updated: 2026-09-25
The net expense ratio is 0.69%: a 0.58% management fee plus 0.16% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2.1M in broker commissions, 0.1505% of average net assets, and portfolio turnover was 83%.
ESCWX Fees and Expenses
Annual operating expenses and sales charges of ESCWX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.58% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.16% |
| Gross expense ratio | 0.74% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.69% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
ESCWX Costs Over Time
On $10,000 invested in ESCWX, assuming 5% a year before costs, total costs come to $527 over 5 years, cutting the return by 0.88% 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 0.69%) | $72 | $226 | $393 |
| Trading costs (broker commissions) | $16 | $49 | $86 |
| Lost growth on money paid in costs | $0 | $14 | $48 |
| Total costs | $88 | $289 | $527 |
| Value after costs | $10,412 | $11,287 | $12,235 |
| Impact on return, per year | 0.88% | 0.88% | 0.88% |
ESCWX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1505%
- Total broker commissions: $2.1M
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 83%
- Securities lending: none during the year
ESCWX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Virtu Americas LLC | $1.0M | 48.74% |
| Goldman Sachs & Co. LLC | $609K | 29.14% |
| RBC Capital Markets, LLC | $304K | 14.54% |
| Mischler Financial Group, Inc. | $158K | 7.58% |
Embark Small Cap Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ESCQX | Retirement Class | 0.61% | — |
| ESCWX | Institutional Class | 0.69% | — |
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.