NAVFX Fees and Costs — Sector Rotation Fund, Institutional Class Shares
Data updated: 2026-08-28
The net expense ratio is 2.04%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $25K in broker commissions, 0.0652% of average net assets, and portfolio turnover was 136%.
NAVFX Fees and Expenses
Annual operating expenses and sales charges of NAVFX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.66% |
| Gross expense ratio | 2.04% |
| Fee waiver | — |
| Net expense ratio | 2.04% |
| 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 | No |
| Waived fees subject to recoupment | Yes |
NAVFX Costs Over Time
On $10,000 invested in NAVFX, assuming 5% a year before costs, total costs come to $1,288 over 5 years, cutting the return by 2.21% 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 2.04%) | $214 | $661 | $1,132 |
| Trading costs (broker commissions) | $7 | $21 | $36 |
| Lost growth on money paid in costs | $0 | $34 | $119 |
| Total costs | $221 | $716 | $1,288 |
| Value after costs | $10,279 | $10,860 | $11,475 |
| Impact on return, per year | 2.21% | 2.21% | 2.21% |
NAVFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0652%
- Total broker commissions: $25K
- Bought from dealers (principal trades, not a cost): $72.8M
- Portfolio turnover (prospectus): 136%
- Securities lending: none during the year
NAVFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jonestrading Insititutional Services LLC | $25K | 100.00% |
NAVFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UMB Bank, n.a. | $72.8M | 100.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.