FNDRX Fees and Costs — FRC Founders Index Fund, Institutional Class
Data updated: 2022-12-13
The net expense ratio is 0.73%: a 0.25% management fee plus 0.48% other expenses. This share class carries a maximum front-end sales load of 1.00%. In fiscal 2022 the fund paid $69K in broker commissions, 0.1147% of average net assets, and portfolio turnover was 75%.
FNDRX Fees and Expenses
Annual operating expenses and sales charges of FNDRX. Prospectus, as of January 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | — |
| Other expenses | 0.48% |
| Gross expense ratio | 0.73% |
| Fee waiver | — |
| Net expense ratio | 0.73% |
| Sales charges | |
|---|---|
| Max front load | 1.00% |
| 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 | Yes |
FNDRX Costs Over Time
On $10,000 invested in FNDRX, assuming 5% a year before costs, total costs come to $652 over 5 years, cutting the return by 1.10% 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 | $100 | $100 | $100 |
| Fund expenses (net expense ratio 0.73%) | $76 | $237 | $412 |
| Trading costs (broker commissions) | $12 | $37 | $65 |
| Lost growth on money paid in costs | $5 | $29 | $76 |
| Total costs | $193 | $404 | $652 |
| Value after costs | $10,307 | $11,173 | $12,110 |
| Impact on return, per year | 1.93% | 1.24% | 1.10% |
FNDRX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.1147%
- Total broker commissions: $69K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 75%
- Securities lending: none during the year
FNDRX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $60K | 86.47% |
| BTIG, LLC | $9K | 13.53% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.