MLPPX Fees and Costs — Tortoise MLP & Energy Infrastructure Fund, Institutional Class
Data updated: 2022-02-09
The net expense ratio is 1.02% (1.07% before fee waivers). There are no sales loads or redemption fees. Portfolio turnover was 78%.
MLPPX Fees and Expenses
Annual operating expenses and sales charges of MLPPX. Prospectus, as of March 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.30% |
| Gross expense ratio | 1.07% |
| Fee waiver | −0.05% |
| Net expense ratio | 1.02% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
MLPPX Costs Over Time
On $10,000 invested in MLPPX, assuming 5% a year before costs, total costs come to $638 over 5 years, cutting the return by 1.07% 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 1.02%) | $107 | $334 | $579 |
| Lost growth on money paid in costs | $0 | $17 | $58 |
| Total costs | $107 | $351 | $638 |
| Value after costs | $10,393 | $11,226 | $12,125 |
| Impact on return, per year | 1.07% | 1.07% | 1.07% |
MLPPX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2021.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 78%
- Securities lending: none during the year
MLPPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| LIQUIDNET, INC. | $28K | 28.05% |
| SUSQUEHANNA FINANCIAL GROUP, LLLP | $16K | 16.50% |
| B. RILEY & CO., LLC | $16K | 16.34% |
| COWEN AND COMPANY, LLC | $10K | 10.31% |
| RBC CAPITAL MARKETS, LLC | $9K | 8.64% |
| JEFFERIES LLC | $6K | 5.79% |
| PIPER JAFFRAY & CO. | $4K | 4.53% |
| BARCLAYS CAPITAL INC. | $4K | 4.19% |
| UBS SECURITIES LLC | $3K | 2.83% |
| BTIG, LLC | $3K | 2.81% |
MLPPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| HILLTOP SECURITIES INC. | $28.5M | 74.81% |
| FTN FINANCIAL SECURITIES CORP | $5.6M | 14.71% |
| FTB ADVISORS, INC. | $1.8M | 4.65% |
| WELLS FARGO SECURITIES, LLC | $927K | 2.44% |
| B. RILEY & CO., LLC | $373K | 0.98% |
| LIQUIDNET, INC. | $350K | 0.92% |
| J.P. MORGAN SECURITIES LLC | $214K | 0.56% |
| ROBERT W. BAIRD & CO. INCORPORATED | $206K | 0.54% |
| OPPENHEIMER & CO. INC. | $151K | 0.40% |
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.