GDLIX Fees and Costs — Gotham Defensive Long Fund, Institutional Class
Data updated: 2020-05-20
The net expense ratio is 3.44%: a 2.00% management fee plus 5.66% other expenses, less a 4.22% fee waiver. This share class carries a redemption fee of 1.00%. In fiscal 2019 the fund paid $1K in broker commissions, 0.0517% of average net assets, and portfolio turnover was 204%.
GDLIX Fees and Expenses
Annual operating expenses and sales charges of GDLIX. Prospectus, as of January 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 2.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 5.66% |
| Gross expense ratio | 7.66% |
| Fee waiver | −4.22% |
| Net expense ratio | 3.44% |
| 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 |
GDLIX Costs Over Time
On $10,000 invested in GDLIX, assuming 5% a year before costs, total costs come to $2,078 over 5 years, cutting the return by 3.67% 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 3.44%) | $361 | $1,098 | $1,855 |
| Trading costs (broker commissions) | $5 | $17 | $28 |
| Lost growth on money paid in costs | $0 | $56 | $195 |
| Total costs | $367 | $1,171 | $2,078 |
| Value after costs | $10,133 | $10,405 | $10,685 |
| Impact on return, per year | 3.67% | 3.67% | 3.67% |
GDLIX 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): 0.0517%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $6.0M
- Portfolio turnover (prospectus): 204%
- Securities on loan, average value: $136K
- Net income from securities lending: $350 (0.015% of average net assets)
GDLIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $1K | 100.00% |
GDLIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $6.0M | 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.