ICNEX Fees and Costs — ICON International Equity Fund, Class S
Data updated: 2020-05-27
The net expense ratio is 1.56%: a 1.00% management fee plus 0.64% other expenses, less a 0.09% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $38K in broker commissions, 0.1082% of average net assets, and portfolio turnover was 40%.
ICNEX Fees and Expenses
Annual operating expenses and sales charges of ICNEX. Prospectus, as of January 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.64% |
| Gross expense ratio | 1.65% |
| Fee waiver | −0.09% |
| Net expense ratio | 1.56% |
| 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 |
ICNEX Costs Over Time
On $10,000 invested in ICNEX, assuming 5% a year before costs, total costs come to $1,030 over 5 years, cutting the return by 1.75% 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 1.56%) | $164 | $508 | $874 |
| Trading costs (broker commissions) | $11 | $35 | $61 |
| Lost growth on money paid in costs | $0 | $27 | $95 |
| Total costs | $175 | $570 | $1,030 |
| Value after costs | $10,325 | $11,007 | $11,733 |
| Impact on return, per year | 1.75% | 1.75% | 1.75% |
ICNEX 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): 0.1082%
- Total broker commissions: $38K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 40%
- Securities on loan, average value: $610K
- Net income from securities lending: $6K (0.018% of average net assets)
ICNEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| HSBC Securities (USA) Inc. | $17K | 43.11% |
| Capital Institutional Services Inc. | $10K | 26.10% |
| Macquarie Capital (USA) Inc. | $5K | 12.02% |
| RBC Capital Markets LLC | $3K | 7.18% |
| Weeden & Co. | $2K | 5.16% |
| The Benchmark Company LLC | $2K | 4.67% |
| Steven M. Ferretti | $600 | 1.56% |
| Bloomberg Tradebook LLC | $72 | 0.19% |
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.