FTSAX Fees and Costs — FullerThaler Behavioral Small-Mid Core Equity Fund, A Shares
Data updated: 2026-08-28
The net expense ratio is 1.32%: a 0.74% management fee, a 0.25% 12b-1 fee plus 0.34% other expenses, less a 0.01% fee waiver. This share class carries a maximum front-end sales load of 5.75% and a deferred sales charge of up to 1.00%. In fiscal 2024 the fund paid $23K in broker commissions, 0.0325% of average net assets, and portfolio turnover was 25%.
FTSAX Fees and Expenses
Annual operating expenses and sales charges of FTSAX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.74% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.34% |
| Gross expense ratio | 1.33% |
| Fee waiver | −0.01% |
| Net expense ratio | 1.32% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
FTSAX Costs Over Time
On $10,000 invested in FTSAX, assuming 5% a year before costs, total costs come to $1,526 over 5 years, cutting the return by 2.64% 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 | $673 | $575 | $575 |
| Fund expenses (net expense ratio 1.32%) | $131 | $406 | $702 |
| Trading costs (broker commissions) | $3 | $10 | $17 |
| Lost growth on money paid in costs | $29 | $111 | $232 |
| Total costs | $835 | $1,102 | $1,526 |
| Value after costs | $9,665 | $10,474 | $11,237 |
| Impact on return, per year | 8.35% | 3.44% | 2.64% |
FTSAX 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): 0.0325%
- Total broker commissions: $23K
- Bought from dealers (principal trades, not a cost): $27.3M
- Portfolio turnover (prospectus): 25%
- Securities on loan, average value: $8K
- Net income from securities lending: $7 (0.000% of average net assets)
FTSAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Weeden Prime Services LLC | $14K | 60.94% |
| INSTINET LLC | $5K | 23.01% |
| BATS TRADING INC | $2K | 10.66% |
| WELLS FARGO SECURITIES LLC | $666 | 2.85% |
| RBC CAPITAL MARKETS | $383 | 1.64% |
| BANK OF AMERICA MERRIL LYNCH | $130 | 0.56% |
| VIRTU AMERICAS LLC | $46 | 0.20% |
| STATE STREET GLOBAL MARKETS LLC | $36 | 0.15% |
FullerThaler Behavioral Small-Mid Core Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FTSFX | R6 Shares | 0.83% | none |
| FTSIX | Institutional Shares | 0.93% | none |
| FTSAX | A Shares | 1.32% | 5.75% |
| FTWCX | C Shares | 1.82% | 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.