IRHIX Fees and Costs — Rational Iron Horse Fund, Institutional Class
Data updated: 2020-08-25
The net expense ratio is 1.72%: a 1.25% management fee plus 1.36% other expenses, less a 0.90% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $16K in broker commissions, 0.2144% of average net assets, and portfolio turnover was 77%.
IRHIX Fees and Expenses
Annual operating expenses and sales charges of IRHIX. Prospectus, as of April 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.36% |
| Gross expense ratio | 2.62% |
| Fee waiver | −0.90% |
| Net expense ratio | 1.72% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| 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 |
IRHIX Costs Over Time
On $10,000 invested in IRHIX, assuming 5% a year before costs, total costs come to $1,188 over 5 years, cutting the return by 2.03% 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 1.72%) | $181 | $558 | $958 |
| Trading costs (broker commissions) | $23 | $70 | $119 |
| Lost growth on money paid in costs | $0 | $31 | $110 |
| Total costs | $203 | $659 | $1,188 |
| Value after costs | $10,297 | $10,917 | $11,575 |
| Impact on return, per year | 2.03% | 2.03% | 2.03% |
IRHIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.2144%
- Total broker commissions: $16K
- Bought from dealers (principal trades, not a cost): $366K
- Portfolio turnover (prospectus): 77%
- Securities lending: none during the year
IRHIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CREDIT SUISSE FIRST BOSTON | $16K | 99.69% |
| NORTHERN TRUST | $48 | 0.31% |
IRHIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CREDIT SUISSE FIRST BOSTON | $186K | 50.91% |
| NORTHERN TRUST | $180K | 49.09% |
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.