LFVFX Fees and Costs — Leader High Quality Low Duration Bond Fund, Investor Shares
Data updated: 2021-04-28
The net expense ratio is 1.53%. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $337K in broker commissions, 0.1839% of average net assets, and portfolio turnover was 334%.
LFVFX Fees and Expenses
Annual operating expenses and sales charges of LFVFX. Prospectus, as of September 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.38% |
| Other expenses | 0.48% |
| Gross expense ratio | 1.53% |
| Fee waiver | — |
| Net expense ratio | 1.53% |
| 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 |
LFVFX Costs Over Time
On $10,000 invested in LFVFX, assuming 5% a year before costs, total costs come to $1,057 over 5 years, cutting the return by 1.80% 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 1.53%) | $161 | $498 | $856 |
| Trading costs (broker commissions) | $19 | $60 | $103 |
| Lost growth on money paid in costs | $0 | $28 | $98 |
| Total costs | $180 | $585 | $1,057 |
| Value after costs | $10,320 | $10,991 | $11,706 |
| Impact on return, per year | 1.80% | 1.80% | 1.80% |
LFVFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.1839%
- Total broker commissions: $337K
- Bought from dealers (principal trades, not a cost): $1.5B
- Portfolio turnover (prospectus): 334%
- Securities lending: none during the year
LFVFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| ACADEMY SECURITIES | $245K | 72.84% |
| FIRST AMERICAN SECURITIES | $49K | 14.64% |
| PERFORMANCE TRUST CAPITAL PARTERS | $21K | 6.35% |
| FIRST ALLIED | $21K | 6.18% |
LFVFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JANNEY CAPITAL MANAGEMENT | $542.8M | 36.72% |
| PERFORMANCE TRUST CAPITAL PARTERS | $493.0M | 33.35% |
| MORGAN STANLEY SMITH BARNEY LLC | $190.4M | 12.88% |
| WELLS FARGO BANK | $86.9M | 5.88% |
| GOLDMAN SACHS & CO. LLC | $52.0M | 3.52% |
| CANTOR FITZGERALD | $45.0M | 3.04% |
| CITIGROUP | $29.2M | 1.97% |
| J.P. MORGAN SECURITIES LLC | $16.0M | 1.08% |
| ROYAL BANK OF CANADA CAPITAL MARKETS | $12.9M | 0.87% |
| PREFERRED TRUST | $10.1M | 0.68% |
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.