ICHAX Fees and Costs — ICON Healthcare 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 0.81% other expenses, less a 0.31% 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 $40K in broker commissions, 0.0579% of average net assets, and portfolio turnover was 26%.
ICHAX Fees and Expenses
Annual operating expenses and sales charges of ICHAX. Prospectus, as of January 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.81% |
| Gross expense ratio | 2.06% |
| Fee waiver | −0.31% |
| 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 |
ICHAX Costs Over Time
On $10,000 invested in ICHAX, assuming 5% a year before costs, total costs come to $1,783 over 5 years, cutting the return by 3.11% 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 | $536 | $921 |
| Trading costs (broker commissions) | $6 | $18 | $30 |
| Lost growth on money paid in costs | $29 | $118 | $256 |
| Total costs | $880 | $1,247 | $1,783 |
| Value after costs | $9,620 | $10,329 | $10,980 |
| Impact on return, per year | 8.80% | 3.91% | 3.11% |
ICHAX 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): 0.0579%
- Total broker commissions: $40K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 26%
- Securities on loan, average value: $1.7M
- Net income from securities lending: $19K (0.027% of average net assets)
ICHAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Steven M. Ferretti | $11K | 28.25% |
| HSBC Securities (USA) Inc. | $8K | 19.92% |
| COWEN EXECUTION SERVICES LLC | $6K | 14.12% |
| RBC Capital Markets LLC | $5K | 13.04% |
| Weeden & Co. | $5K | 11.70% |
| The Benchmark Company LLC | $4K | 11.03% |
| MACQUARIE CAPITAL (USA) INC. | $595 | 1.48% |
| Capital Institutional Services Inc. | $184 | 0.46% |
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.