EVOAX Fees and Costs — Altegris Futures Evolution Strategy Fund, Class A
Data updated: 2026-08-28
The net expense ratio is 1.91% (2.42% before fee waivers). This share class carries a maximum front-end sales load of 5.75% and a deferred sales charge of up to 1.00%. Portfolio turnover was 63%.
EVOAX Fees and Expenses
Annual operating expenses and sales charges of EVOAX. Prospectus, as of October 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 1.15% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.70% |
| Gross expense ratio | 2.42% |
| Fee waiver | −0.51% |
| Net expense ratio | 1.91% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 1.00% |
| 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 |
EVOAX Costs Over Time
On $10,000 invested in EVOAX, assuming 5% a year before costs, total costs come to $1,840 over 5 years, cutting the return by 3.22% 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 | $672 | $575 | $575 |
| Fund expenses (net expense ratio 1.91%) | $189 | $584 | $1,003 |
| Lost growth on money paid in costs | $29 | $120 | $261 |
| Total costs | $890 | $1,279 | $1,840 |
| Value after costs | $9,610 | $10,297 | $10,923 |
| Impact on return, per year | 8.90% | 4.02% | 3.22% |
EVOAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $343.9M
- Portfolio turnover (prospectus): 63%
- Securities lending: none during the year
EVOAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| NOMURA GROUP | $327.9M | 95.35% |
| US BANCORP | $16.0M | 4.65% |
Altegris Futures Evolution Strategy Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| EVOIX | Class I | 1.66% | none |
| EVOAX | Class A | 1.91% | 5.75% |
| EVOCX | Class C | 2.66% | 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.