FLOAX Fees and Costs — DF Tactical Yield Fund, Class A
Data updated: 2026-09-14
The net expense ratio is 2.92%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $28K in broker commissions, 0.0514% of average net assets, and portfolio turnover was 292%.
FLOAX Fees and Expenses
Annual operating expenses and sales charges of FLOAX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 1.00% |
| Other expenses | 0.53% |
| Gross expense ratio | 2.92% |
| Fee waiver | — |
| Net expense ratio | 2.92% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
FLOAX Costs Over Time
On $10,000 invested in FLOAX, assuming 5% a year before costs, total costs come to $1,787 over 5 years, cutting the return by 3.12% 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 2.92%) | $307 | $937 | $1,592 |
| Trading costs (broker commissions) | $5 | $16 | $28 |
| Lost growth on money paid in costs | $0 | $48 | $167 |
| Total costs | $312 | $1,002 | $1,787 |
| Value after costs | $10,188 | $10,575 | $10,976 |
| Impact on return, per year | 3.12% | 3.12% | 3.12% |
FLOAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0514%
- Total broker commissions: $28K
- Bought from dealers (principal trades, not a cost): $54.9M
- Portfolio turnover (prospectus): 292%
- Securities on loan, average value: $9.4M
- Net income from securities lending: $55K (0.100% of average net assets)
FLOAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JANE STREET | $11K | 38.90% |
| JP MORGAN | $4K | 15.35% |
| Everett Financial Group | $3K | 9.67% |
| Stonex Financial Inc. | $2K | 8.15% |
| JNK Securities Corp. | $2K | 7.24% |
| CITADEL SECURITIES LLC | $2K | 7.08% |
| COWEN & COMPANY | $2K | 6.07% |
| Virtu Americas LLC | $2K | 6.04% |
| Susquehanna Capital Group | $422 | 1.49% |
FLOAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| US BANCORP | $54.9M | 100.00% |
DF Tactical Yield Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FLOTX | Class I | 1.92% | none |
| FLOCX | Class C | 2.17% | 5.00% |
| FLOAX | Class A | 2.92% | 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.