RDMAX Fees and Costs — Return Stacked Balanced Allocation & Systematic Macro Fund, Class A
Data updated: 2026-08-28
The net expense ratio is 2.27% (2.73% before fee waivers). This share class carries a maximum front-end sales load of 5.75%. In fiscal 2025 the fund paid $467K in broker commissions, 0.9276% of average net assets, and portfolio turnover was 87%.
RDMAX Fees and Expenses
Annual operating expenses and sales charges of RDMAX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.68% |
| Gross expense ratio | 2.73% |
| Fee waiver | −0.46% |
| Net expense ratio | 2.27% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| 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 |
RDMAX Costs Over Time
On $10,000 invested in RDMAX, assuming 5% a year before costs, total costs come to $2,538 over 5 years, cutting the return by 4.55% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 2.27%) | $225 | $685 | $1,161 |
| Trading costs (broker commissions) | $92 | $280 | $474 |
| Lost growth on money paid in costs | $29 | $139 | $328 |
| Total costs | $920 | $1,679 | $2,538 |
| Value after costs | $9,580 | $9,897 | $10,225 |
| Impact on return, per year | 9.20% | 5.34% | 4.55% |
RDMAX 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): 0.9276%
- Total broker commissions: $467K
- Bought from dealers (principal trades, not a cost): $8.0B
- Portfolio turnover (prospectus): 87%
- Securities lending: none during the year
RDMAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| R.J. O'BRIEN | $466K | 99.82% |
| STONEX FINANCIAL INC | $838 | 0.18% |
RDMAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| R.J. O'BRIEN | $7.9B | 98.96% |
| US BANCORP | $83.1M | 1.04% |
Return Stacked Balanced Allocation & Systematic Macro Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RDMIX | Institutional Shares | 2.02% | none |
| RDMAX | Class A | 2.27% | 5.75% |
| RDMCX | Class C | 3.02% | 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.