GANDX Fees and Costs — Gotham Index Plus All-Cap Fund, Institutional Class
Data updated: 2020-05-20
The net expense ratio is 2.35%: a 1.00% management fee plus 6.72% other expenses, less a 5.37% fee waiver. This share class carries a redemption fee of 1.00%. In fiscal 2019 the fund paid $3K in broker commissions, 0.1082% of average net assets, and portfolio turnover was 220%.
GANDX Fees and Expenses
Annual operating expenses and sales charges of GANDX. Prospectus, as of January 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 6.72% |
| Gross expense ratio | 7.72% |
| Fee waiver | −5.37% |
| Net expense ratio | 2.35% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
GANDX Costs Over Time
On $10,000 invested in GANDX, assuming 5% a year before costs, total costs come to $1,493 over 5 years, cutting the return by 2.58% 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 2.35%) | $247 | $758 | $1,295 |
| Trading costs (broker commissions) | $11 | $35 | $60 |
| Lost growth on money paid in costs | $0 | $40 | $139 |
| Total costs | $258 | $833 | $1,493 |
| Value after costs | $10,242 | $10,743 | $11,269 |
| Impact on return, per year | 2.58% | 2.58% | 2.58% |
GANDX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.1082%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $4.8M
- Portfolio turnover (prospectus): 220%
- Securities lending: none during the year
GANDX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $3K | 100.00% |
GANDX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $4.8M | 100.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.