IKSTX Fees and Costs — Carret Kansas Tax-Exempt Bond Fund, Class A
Data updated: 2026-08-26
The net expense ratio is 0.80%: a 0.30% management fee, a 0.25% 12b-1 fee plus 0.42% other expenses, less a 0.17% fee waiver. This share class carries a maximum front-end sales load of 4.25%. Portfolio turnover was 10%.
IKSTX Fees and Expenses
Annual operating expenses and sales charges of IKSTX. Prospectus, as of February 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.42% |
| Gross expense ratio | 0.97% |
| Fee waiver | −0.17% |
| Net expense ratio | 0.80% |
| Sales charges | |
|---|---|
| Max front load | 4.25% |
| Max deferred load | — |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
IKSTX Costs Over Time
On $10,000 invested in IKSTX, assuming 5% a year before costs, total costs come to $1,023 over 5 years, cutting the return by 1.74% 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 | $425 | $425 | $425 |
| Fund expenses (net expense ratio 0.80%) | $80 | $251 | $437 |
| Lost growth on money paid in costs | $21 | $79 | $161 |
| Total costs | $527 | $756 | $1,023 |
| Value after costs | $9,973 | $10,820 | $11,739 |
| Impact on return, per year | 5.27% | 2.34% | 1.74% |
IKSTX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $26.8M
- Portfolio turnover (prospectus): 10%
- Securities lending: none during the year
IKSTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Marketaxess | $5.1M | 21.85% |
| TMC BONDS L.L.C. | $4.5M | 19.33% |
| WELLS FARGO SECURITIES, LLC | $4.2M | 18.24% |
| FIFTH THIRD SECURITIES, INC. | $2.1M | 9.02% |
| HEADLANDS TECH GLOBAL MARKETS, LLC | $1.7M | 7.28% |
| D.A. DAVIDSON & CO. | $1.3M | 5.72% |
| Piper Sandler | $1.2M | 5.01% |
| MORGAN STANLEY | $1.1M | 4.81% |
| RBC Capital Markets, LLC | $1.0M | 4.42% |
| MESIROW FINANCIAL, INC. | $1.0M | 4.32% |
Carret Kansas Tax-Exempt Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SEKSX | Institutional Class | 0.48% | none |
| IKSTX | Class A | 0.80% | 4.25% |
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.