FOBPX Fees and Costs — Tributary Balanced Fund, Institutional Plus
Data updated: 2026-08-14
The net expense ratio is 0.74%: a 0.75% management fee plus 0.34% other expenses, less a 0.35% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $10K in broker commissions, 0.0121% of average net assets, and portfolio turnover was 21%.
FOBPX Fees and Expenses
Annual operating expenses and sales charges of FOBPX. Prospectus, as of August 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.34% |
| Gross expense ratio | 1.09% |
| Fee waiver | −0.35% |
| Net expense ratio | 0.74% |
| Sales charges | |
|---|---|
| Max front load | — |
| 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 |
FOBPX Costs Over Time
On $10,000 invested in FOBPX, assuming 5% a year before costs, total costs come to $473 over 5 years, cutting the return by 0.79% 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 0.74%) | $78 | $243 | $423 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $12 | $43 |
| Total costs | $79 | $259 | $473 |
| Value after costs | $10,421 | $11,317 | $12,290 |
| Impact on return, per year | 0.79% | 0.79% | 0.79% |
FOBPX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0121%
- Total broker commissions: $10K
- Bought from dealers (principal trades, not a cost): $11.5M
- Portfolio turnover (prospectus): 21%
- Securities lending: none during the year
FOBPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| ITG INC. | $4K | 41.29% |
| SIDCO/TRITON | $4K | 37.27% |
| UBS SECURITIES LLC | $869 | 8.83% |
| CONVERGEX EXECUTION SOLUTIONS L.L.C. | $442 | 4.48% |
| NATIONAL FINANCIAL SERVICES CORPORATION | $380 | 3.86% |
| BNY MELLON CAPITAL MARKETS, LLC | $202 | 2.05% |
| RAYMOND JAMES & ASSOCIATES, INC. | $157 | 1.59% |
| UBS PAINE WEBBER INC | $62 | 0.63% |
FOBPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BANC OF AMERICA SECURITIES | $2.2M | 20.98% |
| WELLS FARGO BROKERAGE SERVICES, LLC | $1.9M | 17.75% |
| CITIGROUP GLOBAL MARKETS INC. | $1.6M | 15.30% |
| CHARLES SCHWAB & CO INC | $1.6M | 14.86% |
| GOLDMAN SACHS & CO | $1.1M | 10.85% |
| MORGAN STANLEY & CO. LLC | $943K | 8.96% |
| J.P. MORGAN SECURITIES LLC | $324K | 3.08% |
| U.S. BANCORP INVESTMENTS INC. | $315K | 2.99% |
| JVB FINANCIAL GROUP | $297K | 2.82% |
| BARCLAYS CAPITAL INC. | $253K | 2.40% |
Tributary Balanced Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FOBPX | Institutional Plus | 0.74% | — |
| FOBAX | Institutional Class | 0.92% | — |
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.