FOIPX Fees and Costs — Tributary Income Fund, Institutional Plus
Data updated: 2026-08-14
The net expense ratio is 0.47%: a 0.60% management fee plus 0.25% other expenses, less a 0.38% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 17%.
FOIPX Fees and Expenses
Annual operating expenses and sales charges of FOIPX. Prospectus, as of August 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.25% |
| Gross expense ratio | 0.85% |
| Fee waiver | −0.38% |
| Net expense ratio | 0.47% |
| 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 |
FOIPX Costs Over Time
On $10,000 invested in FOIPX, assuming 5% a year before costs, total costs come to $297 over 5 years, cutting the return by 0.49% 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 0.47%) | $49 | $155 | $270 |
| Lost growth on money paid in costs | $0 | $8 | $27 |
| Total costs | $49 | $162 | $297 |
| Value after costs | $10,451 | $11,414 | $12,466 |
| Impact on return, per year | 0.49% | 0.49% | 0.49% |
FOIPX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $44.6M
- Portfolio turnover (prospectus): 17%
- Securities lending: none during the year
FOIPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BANC OF AMERICA SECURITIES | $6.5M | 18.36% |
| CHARLES SCHWAB & CO INC | $6.3M | 17.73% |
| CITIGROUP GLOBAL MARKETS INC. | $5.3M | 14.76% |
| WELLS FARGO BROKERAGE SERVICES, LLC | $5.2M | 14.60% |
| MARKETAXESS | $3.6M | 9.99% |
| GOLDMAN SACHS & CO | $2.5M | 6.95% |
| MORGAN STANLEY & CO. LLC | $1.8M | 5.02% |
| CANTOR FITZGERALD & CO | $1.8M | 4.92% |
| BARCLAYS CAPITAL INC. | $1.4M | 3.98% |
| J.P. MORGAN SECURITIES LLC | $1.3M | 3.68% |
Tributary Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FOIPX | Institutional Plus | 0.47% | — |
| FOINX | Institutional Class | 0.62% | — |
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.