FWSHX Fees and Costs — Oakhurst Short Duration High Yield Credit Fund, Institutional Shares
Data updated: 2023-11-07
The net expense ratio is 0.96%: a 0.75% management fee plus 0.36% other expenses, less a 0.16% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 53%.
FWSHX Fees and Expenses
Annual operating expenses and sales charges of FWSHX. Prospectus, as of December 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.36% |
| Gross expense ratio | 1.12% |
| Fee waiver | −0.16% |
| Net expense ratio | 0.96% |
| 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 | Yes |
| Waived fees subject to recoupment | Yes |
FWSHX Costs Over Time
On $10,000 invested in FWSHX, assuming 5% a year before costs, total costs come to $601 over 5 years, cutting the return by 1.01% 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 0.96%) | $101 | $315 | $546 |
| Lost growth on money paid in costs | $0 | $16 | $55 |
| Total costs | $101 | $330 | $601 |
| Value after costs | $10,399 | $11,246 | $12,162 |
| Impact on return, per year | 1.01% | 1.01% | 1.01% |
FWSHX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $75.9M
- Portfolio turnover (prospectus): 53%
- Securities lending: none during the year
FWSHX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MARKETAXESS HOLDINGS, INC. | $22.2M | 34.43% |
| SOUTHWEST SECURITIES, INC. | $9.9M | 15.43% |
| JEFFERIES LLC | $8.7M | 13.56% |
| BOFA SECURITIES, INC. | $7.4M | 11.48% |
| WELLS FARGO SECURITIES, LLC | $3.9M | 6.08% |
| BMO CAPITAL MARKETS CORP. | $2.8M | 4.35% |
| GOLDMAN, SACHS and CO. | $2.8M | 4.30% |
| IMPERIAL CAPITAL LLC | $2.8M | 4.28% |
| GUGGENHEIM SECURITIES LLC | $2.3M | 3.52% |
| STIFEL, NICOLAUS & CO., INC. | $1.7M | 2.57% |
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.