ICEAX Fees and Costs — ICON Energy Fund, Class A
Data updated: 2020-08-27
The net expense ratio is 1.75%: a 1.00% management fee, a 0.25% 12b-1 fee plus 0.72% other expenses, less a 0.22% fee waiver. This share class carries a maximum front-end sales load of 5.75% and a deferred sales charge of up to 1.00%. In fiscal 2019 the fund paid $363K in broker commissions, 0.2864% of average net assets, and portfolio turnover was 69%.
ICEAX Fees and Expenses
Annual operating expenses and sales charges of ICEAX. Prospectus, as of January 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.72% |
| Gross expense ratio | 1.97% |
| Fee waiver | −0.22% |
| Net expense ratio | 1.75% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
ICEAX Costs Over Time
On $10,000 invested in ICEAX, assuming 5% a year before costs, total costs come to $1,910 over 5 years, cutting the return by 3.35% 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 |
| Sales charges | $672 | $575 | $575 |
| Fund expenses (net expense ratio 1.75%) | $173 | $535 | $917 |
| Trading costs (broker commissions) | $28 | $87 | $150 |
| Lost growth on money paid in costs | $29 | $122 | $268 |
| Total costs | $902 | $1,319 | $1,910 |
| Value after costs | $9,598 | $10,258 | $10,853 |
| Impact on return, per year | 9.02% | 4.15% | 3.35% |
ICEAX 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): 0.2864%
- Total broker commissions: $363K
- Bought from dealers (principal trades, not a cost): $87
- Portfolio turnover (prospectus): 69%
- Securities on loan, average value: $11.8M
- Net income from securities lending: $19K (0.015% of average net assets)
ICEAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Steven M Ferretti | $172K | 47.34% |
| RBC Capital Markets LLC | $82K | 22.67% |
| The Benchmark Company LLC | $42K | 11.58% |
| HSBC Securities (USA) Inc. | $20K | 5.47% |
| Weeden & Co. | $16K | 4.35% |
| Capital Institutional Services Inc. | $15K | 4.15% |
| Bloomberg Tradebook LLC | $11K | 3.03% |
| MACQUARIE CAPITAL (USA) INC. | $4K | 1.02% |
| Morgan Stanley & Co LLC | $1K | 0.38% |
ICEAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| STATE STREET GLOBAL MARKETS, LLC | $87 | 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.