IAFLX Fees and Costs — F/m Investments Large Cap Focused Fund, Institutional Class
Data updated: 2026-07-28
The net expense ratio is 0.92% (1.13% before fee waivers). There are no sales loads or redemption fees. In fiscal 2024 the fund paid $27.8M in broker commissions, 39.4517% of average net assets, and portfolio turnover was 132%.
IAFLX Fees and Expenses
Annual operating expenses and sales charges of IAFLX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.41% |
| Gross expense ratio | 1.13% |
| Fee waiver | −0.21% |
| Net expense ratio | 0.92% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
IAFLX Costs Over Time
On $10,000 invested in IAFLX, assuming 5% a year before costs, total costs come to $11,801 over 5 years, cutting the return by 42.39% 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 0.92%) | $97 | $195 | $234 |
| Trading costs (broker commissions) | $4,142 | $8,360 | $10,013 |
| Lost growth on money paid in costs | $0 | $567 | $1,554 |
| Total costs | $4,239 | $9,122 | $11,801 |
| Value after costs | $6,261 | $2,454 | $962 |
| Impact on return, per year | 42.39% | 42.39% | 42.39% |
IAFLX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 39.4517%
- Total broker commissions: $27.8M
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 132%
- Securities lending: none during the year
IAFLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO | $27.8M | 100.00% |
F/m Investments Large Cap Focused Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| IAFLX | Institutional Class | 0.92% | — |
| IAFMX | Investor Class | 1.17% | — |
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.