NEARX Fees and Costs — Usgi Near-Term Tax Free Fund, Investor Class
Data updated: 2026-08-20
The net expense ratio is 0.45%: a 0.50% management fee plus 1.04% other expenses, less a 1.09% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $6K in broker commissions, 0.0255% of average net assets, and portfolio turnover was 62%.
NEARX Fees and Expenses
Annual operating expenses and sales charges of NEARX. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.04% |
| Gross expense ratio | 1.54% |
| Fee waiver | −1.09% |
| Net expense ratio | 0.45% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
NEARX Costs Over Time
On $10,000 invested in NEARX, assuming 5% a year before costs, total costs come to $301 over 5 years, cutting the return by 0.50% 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 0.45%) | $47 | $148 | $258 |
| Trading costs (broker commissions) | $3 | $8 | $15 |
| Lost growth on money paid in costs | $0 | $8 | $27 |
| Total costs | $50 | $164 | $301 |
| Value after costs | $10,450 | $11,412 | $12,462 |
| Impact on return, per year | 0.50% | 0.50% | 0.50% |
NEARX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0255%
- Total broker commissions: $6K
- Bought from dealers (principal trades, not a cost): $10.7M
- Portfolio turnover (prospectus): 62%
- Securities lending: none during the year
NEARX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BANC OF AMERICA SECURITIES | $4K | 65.85% |
| BLOOMBERG TRADEBOOK LLC | $1K | 23.03% |
| COWEN AND COMPANY, LLC | $600 | 9.96% |
| CANACCORD CAPITAL CORPORATION | $70 | 1.16% |
NEARX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| PIPER JAFFRAY & CO. | $5.1M | 47.87% |
| RAYMOND JAMES & ASSOCIATES, INC. | $3.6M | 33.98% |
| INTL FCSTONE FINANCIAL INC. | $1.9M | 18.15% |
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.