RCTIX Fees and Costs — River Canyon Total Return Bond Fund, Institutional Shares
Data updated: 2026-08-28
The net expense ratio is 0.67% (0.83% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $3K in broker commissions, 0.0002% of average net assets, and portfolio turnover was 57%.
RCTIX Fees and Expenses
Annual operating expenses and sales charges of RCTIX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 0.83% |
| Fee waiver | −0.16% |
| Net expense ratio | 0.67% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
RCTIX Costs Over Time
On $10,000 invested in RCTIX, assuming 5% a year before costs, total costs come to $422 over 5 years, cutting the return by 0.70% 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 0.67%) | $70 | $220 | $383 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $11 | $39 |
| Total costs | $70 | $231 | $422 |
| Value after costs | $10,430 | $11,345 | $12,341 |
| Impact on return, per year | 0.70% | 0.70% | 0.70% |
RCTIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0002%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $3.8B
- Portfolio turnover (prospectus): 57%
- Securities lending: none during the year
RCTIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $3K | 100.00% |
RCTIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $2.0B | 57.17% |
| GOLDMAN SACHS & CO. LLC | $316.4M | 9.12% |
| J.P. Morgan Securities LLC | $248.1M | 7.15% |
| BARCLAYS CAPITAL INC. | $186.8M | 5.38% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $170.6M | 4.92% |
| BofAML Securities, Inc. | $150.3M | 4.33% |
| JEFFERIES LLC. | $141.2M | 4.07% |
| Citigroup Global Markets Inc. | $112.3M | 3.24% |
| Nomura Securities International, Inc. | $88.0M | 2.54% |
| Deutsche Bank Securities Inc. | $72.5M | 2.09% |
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.