GRZZX Fees and Costs — Leuthold Grizzly Short Fund
Data updated: 2026-08-26
The net expense ratio is 3.20%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $85K in broker commissions, 0.1997% of average net assets, and portfolio turnover was 0%.
GRZZX Fees and Expenses
Annual operating expenses and sales charges of GRZZX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | — |
| Other expenses | 1.89% |
| Gross expense ratio | 3.20% |
| Fee waiver | — |
| Net expense ratio | 3.20% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
GRZZX Costs Over Time
On $10,000 invested in GRZZX, assuming 5% a year before costs, total costs come to $2,027 over 5 years, cutting the return by 3.57% 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 3.20%) | $336 | $1,022 | $1,729 |
| Trading costs (broker commissions) | $21 | $64 | $108 |
| Lost growth on money paid in costs | $0 | $55 | $190 |
| Total costs | $357 | $1,141 | $2,027 |
| Value after costs | $10,143 | $10,435 | $10,736 |
| Impact on return, per year | 3.57% | 3.57% | 3.57% |
GRZZX 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): 0.1997%
- Total broker commissions: $85K
- Bought from dealers (principal trades, not a cost): $29.7M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
GRZZX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Fidelity Brokerage Services LLC | $82K | 97.07% |
| Macquarie Capital (USA) Inc. | $2K | 2.44% |
| Mischler Financial Group Inc. | $408 | 0.48% |
GRZZX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Raymond James & Associates Inc. | $29.7M | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.