MPYEX Fees and Costs — Meritage Yield-Focus Equity Fund, Investor Shares
Data updated: 2020-07-31
The net expense ratio is 1.33% (1.90% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $67K in broker commissions, 0.2370% of average net assets, and portfolio turnover was 99%.
MPYEX Fees and Expenses
Annual operating expenses and sales charges of MPYEX. Prospectus, as of December 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.82% |
| Gross expense ratio | 1.90% |
| Fee waiver | −0.57% |
| Net expense ratio | 1.33% |
| 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 |
MPYEX Costs Over Time
On $10,000 invested in MPYEX, assuming 5% a year before costs, total costs come to $969 over 5 years, cutting the return by 1.65% 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 1.33%) | $140 | $433 | $747 |
| Trading costs (broker commissions) | $25 | $77 | $133 |
| Lost growth on money paid in costs | $0 | $25 | $89 |
| Total costs | $165 | $536 | $969 |
| Value after costs | $10,335 | $11,041 | $11,794 |
| Impact on return, per year | 1.65% | 1.65% | 1.65% |
MPYEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.2370%
- Total broker commissions: $67K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 99%
- Securities lending: none during the year
MPYEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET LLC | $37K | 55.19% |
| CREDIT SUISSE SECURITIES LLC | $11K | 16.73% |
| FIS BROKERAGE and SECURITIES SERVICES | $11K | 15.96% |
| JEFFERIES and CO. | $4K | 5.65% |
| COWEN and COMPANY LLC | $3K | 4.57% |
| WEEDEN and CO. | $1K | 1.90% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.