ORDAX Fees and Costs — North Square Preferred and Income Securities Fund, Class A
Data updated: 2026-09-25
The net expense ratio is 1.25%: a 0.75% management fee, a 0.25% 12b-1 fee plus 1.62% other expenses, less a 1.37% fee waiver. This share class carries a maximum front-end sales load of 5.75% and a deferred sales charge of up to 1.00%. In fiscal 2026 the fund paid $4K in broker commissions, 0.0012% of average net assets, and portfolio turnover was 72%.
ORDAX Fees and Expenses
Annual operating expenses and sales charges of ORDAX. Prospectus, as of September 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.62% |
| Gross expense ratio | 2.62% |
| Fee waiver | −1.37% |
| Net expense ratio | 1.25% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 1.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
ORDAX Costs Over Time
On $10,000 invested in ORDAX, assuming 5% a year before costs, total costs come to $1,468 over 5 years, cutting the return by 2.53% 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 |
| Sales charges | $673 | $575 | $575 |
| Fund expenses (net expense ratio 1.25%) | $124 | $385 | $666 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $29 | $110 | $226 |
| Total costs | $825 | $1,070 | $1,468 |
| Value after costs | $9,675 | $10,506 | $11,295 |
| Impact on return, per year | 8.25% | 3.34% | 2.53% |
ORDAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0012%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $427.6M
- Portfolio turnover (prospectus): 72%
- Securities lending: none during the year
ORDAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RAYMOND JAMES & ASSOCIATES, INC. | $4K | 88.23% |
| COWEN & COMPANY LLC | $500 | 11.77% |
ORDAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UBS SECURITIES LLC | $149.4M | 34.93% |
| BNP PARIBAS SECURITIES CORP. | $65.8M | 15.38% |
| RBC CAPITAL MARKETS, LLC | $42.4M | 9.91% |
| MIZUHO SECURITIES USA LLC | $41.8M | 9.78% |
| J.P. MORGAN SECURITIES LLC | $30.2M | 7.06% |
| SMBC NIKKO SECURITIES AMERICA INC | $23.4M | 5.48% |
| WELLS FARGO SECURITIES LLC | $22.9M | 5.36% |
| GOLDMAN SACHS & CO | $18.7M | 4.38% |
| MORGAN STANLEY & CO. INC. | $16.8M | 3.93% |
| COWEN AND COMPANY LLC | $16.3M | 3.80% |
North Square Preferred and Income Securities Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ORDNX | Class I | 0.98% | — |
| ORDAX | Class A | 1.25% | 5.75% |
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.