RCSTX Fees and Costs — Red Cedar Short Term Bond Fund, Institutional Class
Data updated: 2023-01-13
The net expense ratio is 0.45%: a 0.30% management fee plus 0.40% other expenses, less a 0.25% fee waiver. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $3K in broker commissions, 0.0029% of average net assets, and portfolio turnover was 130%.
RCSTX Fees and Expenses
Annual operating expenses and sales charges of RCSTX. Prospectus, as of February 28, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.40% |
| Gross expense ratio | 0.70% |
| Fee waiver | −0.25% |
| Net expense ratio | 0.45% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
RCSTX Costs Over Time
On $10,000 invested in RCSTX, assuming 5% a year before costs, total costs come to $286 over 5 years, cutting the return by 0.48% 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 0.45%) | $47 | $148 | $259 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $7 | $26 |
| Total costs | $48 | $157 | $286 |
| Value after costs | $10,452 | $11,420 | $12,476 |
| Impact on return, per year | 0.48% | 0.48% | 0.48% |
RCSTX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0029%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $356.4M
- Portfolio turnover (prospectus): 130%
- Securities lending: none during the year
RCSTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $3K | 100.00% |
RCSTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $57.4M | 22.75% |
| GOLDMAN, SACHS & CO. | $42.2M | 16.74% |
| SOCIETE GENERALE | $29.0M | 11.48% |
| MARKETAXESS CORPORATION | $22.6M | 8.95% |
| BOFA SECURITIES, INC. | $20.4M | 8.09% |
| MORGAN STANLEY & CO., LLC | $18.4M | 7.30% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $18.1M | 7.16% |
| CITIGROUP GLOBAL MARKETS, INC | $17.8M | 7.06% |
| PERFORMANCE TRUST CAPITAL PARTNERS, LLC | $13.3M | 5.26% |
| TD AMERITRADE, INC. | $13.1M | 5.19% |
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.