GUMPX Fees and Costs — Guggenheim Market Neutral Real Estate Fund, Class P
Data updated: 2024-12-13
The net expense ratio is 1.63%: a 1.10% management fee, a 0.25% 12b-1 fee plus 0.59% other expenses, less a 0.31% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $36K in broker commissions, 0.0832% of average net assets, and portfolio turnover was 55%.
GUMPX Fees and Expenses
Annual operating expenses and sales charges of GUMPX. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 1.10% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.59% |
| Gross expense ratio | 1.94% |
| Fee waiver | −0.31% |
| Net expense ratio | 1.63% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
GUMPX Costs Over Time
On $10,000 invested in GUMPX, assuming 5% a year before costs, total costs come to $1,056 over 5 years, cutting the return by 1.80% 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 1.63%) | $171 | $530 | $912 |
| Trading costs (broker commissions) | $9 | $27 | $47 |
| Lost growth on money paid in costs | $0 | $28 | $98 |
| Total costs | $180 | $585 | $1,056 |
| Value after costs | $10,320 | $10,991 | $11,706 |
| Impact on return, per year | 1.80% | 1.80% | 1.80% |
GUMPX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0832%
- Total broker commissions: $36K
- Bought from dealers (principal trades, not a cost): $11.2M
- Portfolio turnover (prospectus): 55%
- Securities lending: none during the year
GUMPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $13K | 37.67% |
| Morgan Stanley & Co. LLC | $13K | 36.67% |
| J.P. MORGAN SECURITIES LLC | $9K | 25.67% |
GUMPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $8.2M | 72.95% |
| GOLDMAN SACHS & CO. LLC | $3.0M | 27.05% |
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.