PSYPX Fees and Costs — Palmer Square Income Plus Fund, Class I
Data updated: 2025-11-26
The net expense ratio is 0.74%: a 0.49% management fee plus 0.25% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $4K in broker commissions, 0.0004% of average net assets, and portfolio turnover was 109%.
PSYPX Fees and Expenses
Annual operating expenses and sales charges of PSYPX. Prospectus, as of October 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.49% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.25% |
| Gross expense ratio | 0.74% |
| Fee waiver | — |
| Net expense ratio | 0.74% |
| 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 |
PSYPX Costs Over Time
On $10,000 invested in PSYPX, assuming 5% a year before costs, total costs come to $466 over 5 years, cutting the return by 0.78% 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 0.74%) | $78 | $243 | $423 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $12 | $43 |
| Total costs | $78 | $255 | $466 |
| Value after costs | $10,422 | $11,321 | $12,297 |
| Impact on return, per year | 0.78% | 0.78% | 0.78% |
PSYPX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0004%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $2.0B
- Portfolio turnover (prospectus): 109%
- Securities lending: none during the year
PSYPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU FINANCIAL LLC | $4K | 84.58% |
| WELLS FARGO CLEARING SERVICES, LLC | $648 | 15.42% |
PSYPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO CLEARING SERVICES, LLC | $324.7M | 19.27% |
| J.P. MORGAN SECURITIES LLC | $289.4M | 17.17% |
| MARKETAXESS CORPORATION | $235.5M | 13.97% |
| GOLDMAN SACHS & CO. LLC | $187.9M | 11.15% |
| BARCLAYS CAPITAL INC. | $175.1M | 10.39% |
| CITIGROUP GLOBAL MARKETS INC. | $130.4M | 7.73% |
| CITADEL SECURITIES CORP. | $105.9M | 6.28% |
| MORGAN STANLEY | $105.7M | 6.27% |
| BANC OF AMERICA SECURITIES LLC | $67.8M | 4.02% |
| DEUTSCHE BANK SECURITIES INC. | $63.3M | 3.76% |
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.