IOFAX Fees and Costs — AlphaCentric Income Opportunity Fund, Class A
Data updated: 2026-08-27
The net expense ratio is 2.11%: a 1.30% management fee, a 0.25% 12b-1 fee plus 0.73% other expenses, less a 0.17% fee waiver. This share class carries a maximum front-end sales load of 4.75% and a deferred sales charge of up to 1.00%. In fiscal 2026 the fund paid $19K in broker commissions, 0.0080% of average net assets, and portfolio turnover was 14%.
IOFAX Fees and Expenses
Annual operating expenses and sales charges of IOFAX. Prospectus, as of July 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.30% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.73% |
| Gross expense ratio | 2.28% |
| Fee waiver | −0.17% |
| Net expense ratio | 2.11% |
| Sales charges | |
|---|---|
| Max front load | 4.75% |
| Max deferred load | 1.00% |
| 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 |
IOFAX Costs Over Time
On $10,000 invested in IOFAX, assuming 5% a year before costs, total costs come to $1,840 over 5 years, cutting the return by 3.22% 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 | $573 | $475 | $475 |
| Fund expenses (net expense ratio 2.11%) | $211 | $651 | $1,115 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $24 | $107 | $246 |
| Total costs | $808 | $1,236 | $1,840 |
| Value after costs | $9,692 | $10,340 | $10,923 |
| Impact on return, per year | 8.08% | 3.88% | 3.22% |
IOFAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0080%
- Total broker commissions: $19K
- Bought from dealers (principal trades, not a cost): $67.5M
- Portfolio turnover (prospectus): 14%
- Securities lending: none during the year
IOFAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CitiGroup Inc. | $19K | 100.00% |
IOFAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Bay Crest Partners, LLC | $16.4M | 24.30% |
| Browstone Investment Group LLC | $15.1M | 22.40% |
| CitiGroup Inc. | $10.9M | 16.20% |
| Brean Capital, LLC | $8.0M | 11.83% |
| Mizuho Securities USA LLC | $5.7M | 8.49% |
| Bofa Securities, Inc. | $4.1M | 6.09% |
| Piper Sandler & Co. | $3.3M | 4.96% |
| Robert W. Baird & Co. | $2.0M | 2.95% |
| BTIG, LLC | $1.9M | 2.76% |
AlphaCentric Income Opportunity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| IOFIX | Class I | 1.86% | none |
| IOFAX | Class A | 2.11% | 4.75% |
| IOFCX | Class C | 2.86% | none |
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.