GAAEX Fees and Costs — Guinness Atkinson Alternative Energy Fund
Data updated: 2026-08-28
The net expense ratio is 1.11%: a 0.80% management fee plus 1.09% other expenses, less a 0.78% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2K in broker commissions, 0.0122% of average net assets, and portfolio turnover was 17%.
GAAEX Fees and Expenses
Annual operating expenses and sales charges of GAAEX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.09% |
| Gross expense ratio | 1.89% |
| Fee waiver | −0.78% |
| Net expense ratio | 1.11% |
| 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 |
GAAEX Costs Over Time
On $10,000 invested in GAAEX, assuming 5% a year before costs, total costs come to $700 over 5 years, cutting the return by 1.18% 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 1.11%) | $117 | $363 | $629 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $18 | $64 |
| Total costs | $118 | $385 | $700 |
| Value after costs | $10,382 | $11,191 | $12,063 |
| Impact on return, per year | 1.18% | 1.18% | 1.18% |
GAAEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0122%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 17%
- Securities lending: none during the year
GAAEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley | $700 | 33.46% |
| BTIG | $623 | 29.78% |
| Goldman Sachs | $176 | 8.41% |
| JP Morgan | $145 | 6.93% |
| Bernstein | $138 | 6.60% |
| Berenberg | $105 | 5.02% |
| Kepler | $88 | 4.21% |
| Raymond James | $45 | 2.15% |
| Investec Bank Plc | $39 | 1.86% |
| CLSA Limited | $33 | 1.58% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.