MPYIX Fees and Costs — Meritage Yield-Focus Equity Fund, Institutional Shares
Data updated: 2020-07-31
The net expense ratio is 1.08% (1.64% 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%.
MPYIX Fees and Expenses
Annual operating expenses and sales charges of MPYIX. Prospectus, as of December 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.81% |
| Gross expense ratio | 1.64% |
| Fee waiver | −0.56% |
| Net expense ratio | 1.08% |
| 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 |
MPYIX Costs Over Time
On $10,000 invested in MPYIX, assuming 5% a year before costs, total costs come to $819 over 5 years, cutting the return by 1.38% 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 1.08%) | $113 | $353 | $610 |
| Trading costs (broker commissions) | $25 | $77 | $134 |
| Lost growth on money paid in costs | $0 | $21 | $75 |
| Total costs | $138 | $451 | $819 |
| Value after costs | $10,362 | $11,125 | $11,944 |
| Impact on return, per year | 1.38% | 1.38% | 1.38% |
MPYIX 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
MPYIX 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.