RBNDX Fees and Costs — Robinson Opportunistic Income Fund
Data updated: 2026-08-27
The net expense ratio is 3.10% (4.86% before fee waivers). This share class carries a maximum front-end sales load of 2.50%. In fiscal 2025 the fund paid $34K in broker commissions, 0.2911% of average net assets, and portfolio turnover was 66%.
RBNDX Fees and Expenses
Annual operating expenses and sales charges of RBNDX. Prospectus, as of April 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.10% |
| 12b-1 fee | 0.25% |
| Other expenses | 2.02% |
| Gross expense ratio | 4.86% |
| Fee waiver | −1.76% |
| Net expense ratio | 3.10% |
| Sales charges | |
|---|---|
| Max front load | 2.50% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
RBNDX Costs Over Time
On $10,000 invested in RBNDX, assuming 5% a year before costs, total costs come to $2,291 over 5 years, cutting the return by 4.07% 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 | $250 | $250 | $250 |
| Fund expenses (net expense ratio 3.10%) | $317 | $966 | $1,633 |
| Trading costs (broker commissions) | $30 | $91 | $153 |
| Lost growth on money paid in costs | $12 | $93 | $254 |
| Total costs | $610 | $1,399 | $2,291 |
| Value after costs | $9,890 | $10,177 | $10,472 |
| Impact on return, per year | 6.10% | 4.41% | 4.07% |
RBNDX 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): 0.2911%
- Total broker commissions: $34K
- Bought from dealers (principal trades, not a cost): $303K
- Portfolio turnover (prospectus): 66%
- Securities lending: none during the year
RBNDX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| THE BENCHMARK COMPANY, LLC | $14K | 41.62% |
| JONESTRADING INSTITUTIONAL SERVICES LLC | $13K | 38.58% |
| CANTOR FITZGERALD & CO. | $3K | 10.05% |
| Meridian Equity Partners, Inc. | $1K | 3.41% |
| PIPER JAFFRAY & CO. | $750 | 2.23% |
| TMC BONDS L.L.C. | $678 | 2.02% |
| ADM SECURITIES, INC. | $482 | 1.43% |
| CLEAR STREET LLC | $119 | 0.35% |
| CAPITAL INSTITUTIONAL SERVICES, INC. | $102 | 0.30% |
RBNDX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CLEAR STREET LLC | $200K | 66.00% |
| CANTOR FITZGERALD & CO. | $100K | 33.00% |
| INTL FCSTONE FINANCIAL INC. | $3K | 1.00% |
Robinson Opportunistic Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RBNDX | C000190709 | 3.10% | 2.50% |
| RBNNX | Institutional Class Shares | 3.16% | none |
| RBNAX | Class A | 3.41% | 4.25% |
| RBNCX | Class C | 4.16% | none |
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.