POLIX Fees and Costs — Polen Growth Fund, Institutional Class
Data updated: 2026-09-22
The net expense ratio is 0.99%: a 0.85% management fee plus 0.14% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $591K in broker commissions, 0.0129% of average net assets, and portfolio turnover was 49%.
POLIX Fees and Expenses
Annual operating expenses and sales charges of POLIX. Prospectus, as of August 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.14% |
| Gross expense ratio | 0.99% |
| Fee waiver | — |
| Net expense ratio | 0.99% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
POLIX Costs Over Time
On $10,000 invested in POLIX, assuming 5% a year before costs, total costs come to $627 over 5 years, cutting the return by 1.05% 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 0.99%) | $104 | $324 | $562 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $16 | $58 |
| Total costs | $105 | $345 | $627 |
| Value after costs | $10,395 | $11,231 | $12,136 |
| Impact on return, per year | 1.05% | 1.05% | 1.05% |
POLIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0129%
- Total broker commissions: $591K
- Bought from dealers (principal trades, not a cost): $107.1M
- Portfolio turnover (prospectus): 49%
- Securities lending: none during the year
POLIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $107K | 19.84% |
| SANFORD C. BERNSTEIN & CO., LLC | $102K | 18.91% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $89K | 16.43% |
| JP MORGAN SECURITIES LLC | $87K | 16.18% |
| BTIG, LLC | $42K | 7.79% |
| JONESTRADING INSTITUTIONAL SERVICES LLC | $26K | 4.88% |
| Robert W. Baird & Co. Incorporated | $25K | 4.72% |
| PIPER SANDLER & CO. | $25K | 4.56% |
| LIQUIDNET, INC. | $21K | 3.98% |
| REDBURN (USA) LLC | $15K | 2.71% |
POLIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $107.1M | 100.00% |
Polen Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| POLIX | Institutional Class | 0.99% | — |
| POLRX | Investor Class | 1.24% | — |
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.