KAIAX Fees and Costs — Karner Blue Biodiversity Impact Fund, Investor Class
Data updated: 2024-01-29
The net expense ratio is 1.25%: a 0.80% management fee, a 0.25% 12b-1 fee plus 6.59% other expenses, less a 6.39% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $7K in broker commissions, 0.0707% of average net assets, and portfolio turnover was 77%.
KAIAX Fees and Expenses
Annual operating expenses and sales charges of KAIAX. Prospectus, as of September 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.25% |
| Other expenses | 6.59% |
| Gross expense ratio | 7.64% |
| Fee waiver | −6.39% |
| Net expense ratio | 1.25% |
| 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 |
KAIAX Costs Over Time
On $10,000 invested in KAIAX, assuming 5% a year before costs, total costs come to $821 over 5 years, cutting the return by 1.39% 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 1.25%) | $131 | $408 | $705 |
| Trading costs (broker commissions) | $7 | $23 | $40 |
| Lost growth on money paid in costs | $0 | $21 | $76 |
| Total costs | $139 | $453 | $821 |
| Value after costs | $10,361 | $11,124 | $11,942 |
| Impact on return, per year | 1.39% | 1.39% | 1.39% |
KAIAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0707%
- Total broker commissions: $7K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 77%
- Securities lending: none during the year
KAIAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET LLC | $7K | 98.15% |
| CRAIG-HALLUM CAPITAL GROUP LLC | $123 | 1.85% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.