ESTCX Fees and Costs — Emerald Select trueLiberty Income Fund, Institutional Class
Data updated: 2020-12-29
The net expense ratio is 0.76%: a 0.68% management fee plus 51.80% other expenses, less a 51.72% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $371 in broker commissions, 0.0367% of average net assets, and portfolio turnover was 439%.
ESTCX Fees and Expenses
Annual operating expenses and sales charges of ESTCX. Prospectus, as of August 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.68% |
| 12b-1 fee | 0.00% |
| Other expenses | 51.80% |
| Gross expense ratio | 52.48% |
| Fee waiver | −51.72% |
| Net expense ratio | 0.76% |
| 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 |
ESTCX Costs Over Time
On $10,000 invested in ESTCX, assuming 5% a year before costs, total costs come to $500 over 5 years, cutting the return by 0.84% 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 0.76%) | $80 | $250 | $434 |
| Trading costs (broker commissions) | $4 | $12 | $21 |
| Lost growth on money paid in costs | $0 | $13 | $46 |
| Total costs | $84 | $274 | $500 |
| Value after costs | $10,416 | $11,302 | $12,262 |
| Impact on return, per year | 0.84% | 0.84% | 0.84% |
ESTCX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0367%
- Total broker commissions: $371
- Bought from dealers (principal trades, not a cost): $1.6M
- Portfolio turnover (prospectus): 439%
- Securities lending: none during the year
ESTCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jp Morgan Chase | $371 | 100.00% |
ESTCX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Union Bank Of California | $941K | 57.33% |
| Jp Morgan Chase | $700K | 42.67% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.