NCICX Fees and Costs — New Covenant Income Fund
Data updated: 2026-09-14
The net expense ratio is 0.96%: a 0.42% management fee plus 0.54% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $4K in broker commissions, 0.0001% of average net assets, and portfolio turnover was 356%.
NCICX Fees and Expenses
Annual operating expenses and sales charges of NCICX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.42% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.54% |
| Gross expense ratio | 0.96% |
| Fee waiver | — |
| Net expense ratio | 0.96% |
| 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 | No |
NCICX Costs Over Time
On $10,000 invested in NCICX, assuming 5% a year before costs, total costs come to $601 over 5 years, cutting the return by 1.01% 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 0.96%) | $101 | $315 | $546 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $16 | $55 |
| Total costs | $101 | $330 | $601 |
| Value after costs | $10,399 | $11,246 | $12,162 |
| Impact on return, per year | 1.01% | 1.01% | 1.01% |
NCICX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0001%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $2.8B
- Portfolio turnover (prospectus): 356%
- Securities lending: none during the year
NCICX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN, SACHS & CO. | $2K | 42.39% |
| BARCLAY BANK PLC | $871 | 23.29% |
| J P MORGAN CHASE BANK | $792 | 21.18% |
| WELLS FARGO | $197 | 5.27% |
| RJ O'BRIEN | $174 | 4.66% |
| NOMURA | $95 | 2.53% |
| MORGAN STANLEY & CO, INC | $23 | 0.60% |
| CITIGROUP | $3 | 0.09% |
NCICX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN, SACHS & CO. | $606.7M | 25.51% |
| CITADEL | $328.0M | 13.79% |
| CITIGROUP | $302.6M | 12.72% |
| BAML | $299.1M | 12.58% |
| DEUTSCHE BANK SECURITIES INC | $225.7M | 9.49% |
| J P MORGAN CHASE BANK | $178.1M | 7.49% |
| BARCLAY BANK PLC | $140.7M | 5.92% |
| MORGAN STANLEY & CO, INC | $107.6M | 4.52% |
| WELLS FARGO | $95.4M | 4.01% |
| MIZUHO SECURITIES | $94.1M | 3.96% |
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.