FTMIX Fees and Costs — First Trust Multi-Strategy Fund, Class I
Data updated: 2026-08-24
The net expense ratio is 1.60%: a 1.20% management fee plus 0.39% other expenses. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $165K in broker commissions, 0.0542% of average net assets, and portfolio turnover was 191%.
FTMIX Fees and Expenses
Annual operating expenses and sales charges of FTMIX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.20% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.39% |
| Gross expense ratio | 1.60% |
| Fee waiver | — |
| Net expense ratio | 1.60% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
FTMIX Costs Over Time
On $10,000 invested in FTMIX, assuming 5% a year before costs, total costs come to $1,021 over 5 years, cutting the return by 1.74% 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 1.60%) | $168 | $521 | $897 |
| Trading costs (broker commissions) | $6 | $18 | $30 |
| Lost growth on money paid in costs | $0 | $27 | $94 |
| Total costs | $174 | $565 | $1,021 |
| Value after costs | $10,326 | $11,011 | $11,742 |
| Impact on return, per year | 1.74% | 1.74% | 1.74% |
FTMIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0542%
- Total broker commissions: $165K
- Bought from dealers (principal trades, not a cost): $1.9B
- Portfolio turnover (prospectus): 191%
- Securities lending: none during the year
FTMIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| SEAPORT GLOBAL SECURITIES LLC | $29K | 17.29% |
| Societe Generale Investment Corp | $23K | 13.76% |
| COWEN AND COMPANY, LLC | $19K | 11.30% |
| BTIG, LLC | $18K | 11.09% |
| GOLDMAN SACHS & CO. LLC | $16K | 9.68% |
| J.P. MORGAN SECURITIES LLC | $16K | 9.54% |
| CANTOR FITZGERALD & CO. | $13K | 7.89% |
| MIZUHO SECURITIES USA LLC | $11K | 6.81% |
| Wolverine Execution Services, Llc | $11K | 6.43% |
| BNP PARIBAS SECURITIES CORP. | $10K | 6.21% |
FTMIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| NOMURA SECURITIES INTERNATIONAL, INC. | $24.2M | 18.71% |
| BANC OF AMERICA SECURITIES LLC | $16.4M | 12.70% |
| GOLDMAN SACHS & CO. LLC | $13.9M | 10.75% |
| CITIGROUP GLOBAL MARKETS INC. | $13.8M | 10.68% |
| BARCLAYS CAPITAL INC. | $11.5M | 8.92% |
| BTIG, LLC | $11.5M | 8.90% |
| UNITED PULSE TRADING INC. | $11.2M | 8.62% |
| CANTOR FITZGERALD & CO. | $9.9M | 7.61% |
| J.P. MORGAN SECURITIES LLC | $8.8M | 6.80% |
| Janney Montgomery Scott Llc | $8.2M | 6.31% |
First Trust Multi-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 |
|---|---|---|---|
| FTMIX | Class I | 1.60% | none |
| FTMAX | Class A | 1.86% | 4.50% |
| FTMCX | Class C | 2.61% | 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.