ETFAX Fees and Costs — North Square Tactical Growth Fund, Class A
Data updated: 2026-09-25
The net expense ratio is 1.71%. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2026 the fund paid $44K in broker commissions, 0.0077% of average net assets, and portfolio turnover was 30%.
ETFAX Fees and Expenses
Annual operating expenses and sales charges of ETFAX. Prospectus, as of September 25, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.05% |
| 12b-1 fee | — |
| Other expenses | 0.23% |
| Gross expense ratio | 1.69% |
| Fee waiver | −0.02% |
| Net expense ratio | 1.71% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| 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 |
ETFAX Costs Over Time
On $10,000 invested in ETFAX, assuming 5% a year before costs, total costs come to $1,732 over 5 years, cutting the return by 3.02% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.71%) | $169 | $524 | $902 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $29 | $117 | $251 |
| Total costs | $774 | $1,218 | $1,732 |
| Value after costs | $9,726 | $10,358 | $11,031 |
| Impact on return, per year | 7.74% | 3.82% | 3.02% |
ETFAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0077%
- Total broker commissions: $44K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 30%
- Securities lending: none during the year
ETFAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES INC | $30K | 68.46% |
| PERSHING LLC | $14K | 31.09% |
| J.P. MORGAN SECURITIES LLC | $198 | 0.45% |
North Square Tactical Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ETFOX | Class I | 1.46% | none |
| ETFAX | Class A | 1.71% | 5.75% |
| ETFCX | Class C | 2.46% | none |
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.