KMDAX Fees and Costs — Kinetics Multi-Disciplinary Income Fund, Advisor Class A
Data updated: 2026-08-19
The net expense ratio is 1.97% (2.58% before fee waivers). This share class carries a maximum front-end sales load of 5.75% and a redemption fee of 2.00%. Portfolio turnover was 74%.
KMDAX Fees and Expenses
Annual operating expenses and sales charges of KMDAX. Prospectus, as of April 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.50% |
| Other expenses | 0.60% |
| Gross expense ratio | 2.58% |
| Fee waiver | −0.61% |
| Net expense ratio | 1.97% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| 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 | No |
KMDAX Costs Over Time
On $10,000 invested in KMDAX, assuming 5% a year before costs, total costs come to $1,873 over 5 years, cutting the return by 3.28% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.97%) | $195 | $602 | $1,034 |
| Lost growth on money paid in costs | $29 | $121 | $264 |
| Total costs | $799 | $1,298 | $1,873 |
| Value after costs | $9,701 | $10,278 | $10,890 |
| Impact on return, per year | 7.99% | 4.08% | 3.28% |
KMDAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 74%
- Securities lending: none during the year
KMDAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| AGENCY TRADING GROUP INC. | $6K | 100.00% |
Kinetics Multi-Disciplinary Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| KMDNX | No Load Class | 0.74% | — |
| KMDYX | Institutional Class | 1.52% | — |
| KMDAX | Advisor Class A | 1.97% | 5.75% |
| KMDCX | Advisor Class C | 2.47% | 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.