IMPAX Fees and Costs — ERShares US Small Cap, Institutional Class
Data updated: 2024-11-27
The net expense ratio is 0.86%: a 0.75% management fee plus 0.20% other expenses, less a 0.10% fee waiver. This share class carries a redemption fee of 2.00%. In fiscal 2024 the fund paid $332K in broker commissions, 0.4579% of average net assets, and portfolio turnover was 63%.
IMPAX Fees and Expenses
Annual operating expenses and sales charges of IMPAX. Prospectus, as of October 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | — |
| Other expenses | 0.20% |
| Gross expense ratio | 0.96% |
| Fee waiver | −0.10% |
| Net expense ratio | 0.86% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
IMPAX Costs Over Time
On $10,000 invested in IMPAX, assuming 5% a year before costs, total costs come to $819 over 5 years, cutting the return by 1.38% 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 0.86%) | $90 | $281 | $485 |
| Trading costs (broker commissions) | $48 | $150 | $258 |
| Lost growth on money paid in costs | $0 | $21 | $75 |
| Total costs | $138 | $452 | $819 |
| Value after costs | $10,362 | $11,125 | $11,944 |
| Impact on return, per year | 1.38% | 1.38% | 1.38% |
IMPAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.4579%
- Total broker commissions: $332K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 63%
- Securities on loan, average value: $3.4M
- Net income from securities lending: $1K (0.002% of average net assets)
IMPAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GTS Securities LLC | $332K | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.