GONIX Fees and Costs — Gotham Neutral Fund, Institutional Class
Data updated: 2026-08-21
The net expense ratio is 1.51%: a 1.50% management fee plus 0.35% other expenses, less a 0.35% fee waiver. This share class carries a redemption fee of 1.00%. In fiscal 2025 the fund paid $103K in broker commissions, 0.0980% of average net assets, and portfolio turnover was 466%.
GONIX Fees and Expenses
Annual operating expenses and sales charges of GONIX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.50% |
| 12b-1 fee | — |
| Other expenses | 0.35% |
| Gross expense ratio | 1.86% |
| Fee waiver | −0.35% |
| Net expense ratio | 1.51% |
| 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 | No |
GONIX Costs Over Time
On $10,000 invested in GONIX, assuming 5% a year before costs, total costs come to $994 over 5 years, cutting the return by 1.69% 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 1.51%) | $159 | $492 | $847 |
| Trading costs (broker commissions) | $10 | $32 | $55 |
| Lost growth on money paid in costs | $0 | $26 | $92 |
| Total costs | $169 | $550 | $994 |
| Value after costs | $10,331 | $11,027 | $11,769 |
| Impact on return, per year | 1.69% | 1.69% | 1.69% |
GONIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0980%
- Total broker commissions: $103K
- Bought from dealers (principal trades, not a cost): $1.6B
- Portfolio turnover (prospectus): 466%
- Securities lending: none during the year
GONIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $103K | 100.00% |
GONIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $1.6B | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.