PCYIX Fees and Costs — PCS Commodity Strategy Fund, Class I
Data updated: 2021-01-27
The net expense ratio is 1.11%: a 0.79% management fee plus 0.73% other expenses, less a 0.42% fee waiver. This share class carries a redemption fee of 1.00%. In fiscal 2020 the fund paid $29K in broker commissions, 0.1212% of average net assets, and portfolio turnover was 0%.
PCYIX Fees and Expenses
Annual operating expenses and sales charges of PCYIX. Prospectus, as of December 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.79% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.73% |
| Gross expense ratio | 1.53% |
| Fee waiver | −0.42% |
| Net expense ratio | 1.11% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
PCYIX Costs Over Time
On $10,000 invested in PCYIX, assuming 5% a year before costs, total costs come to $767 over 5 years, cutting the return by 1.29% 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 1.11%) | $117 | $363 | $628 |
| Trading costs (broker commissions) | $13 | $40 | $69 |
| Lost growth on money paid in costs | $0 | $20 | $70 |
| Total costs | $129 | $422 | $767 |
| Value after costs | $10,371 | $11,154 | $11,996 |
| Impact on return, per year | 1.29% | 1.29% | 1.29% |
PCYIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.1212%
- Total broker commissions: $29K
- Bought from dealers (principal trades, not a cost): $503.2M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
PCYIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Royal Bank of Canada | $28K | 95.17% |
| ADM Investor Sevices, Inc. | $1K | 4.83% |
PCYIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Royal Bank of Canada | $455.7M | 90.55% |
| Wells Fargo Bank | $46.2M | 9.18% |
| ADM Investor Sevices, Inc. | $1.4M | 0.27% |
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.