LQTIX Fees and Costs — Theta Income Fund, Institutional Class
Data updated: 2021-03-12
The net expense ratio is 1.25%. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $4K in broker commissions, 0.0033% of average net assets, and portfolio turnover was 13%.
LQTIX Fees and Expenses
Annual operating expenses and sales charges of LQTIX. Prospectus, as of April 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.20% |
| Gross expense ratio | 1.25% |
| Fee waiver | — |
| Net expense ratio | 1.25% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
LQTIX Costs Over Time
On $10,000 invested in LQTIX, assuming 5% a year before costs, total costs come to $780 over 5 years, cutting the return by 1.32% 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 | $706 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $20 | $72 |
| Total costs | $132 | $430 | $780 |
| Value after costs | $10,368 | $11,146 | $11,983 |
| Impact on return, per year | 1.32% | 1.32% | 1.32% |
LQTIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0033%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $201.8M
- Portfolio turnover (prospectus): 13%
- Securities lending: none during the year
LQTIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MISCHLER FINANCIAL GROUP, INC. | $4K | 100.00% |
LQTIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| RAYMOND JAMES (USA) LTD. | $155.6M | 77.13% |
| SUNTRUST INVESTMENT SERVICES, INC. | $31.7M | 15.72% |
| PERSHING LLC | $6.7M | 3.32% |
| TRADEWEB DIRECT LLC | $5.3M | 2.62% |
| TRUIST SECURITIES, INC. | $2.5M | 1.21% |
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.