RLLCX Fees and Costs — Ryan Labs Long Credit Fund
Data updated: 2021-02-11
The net expense ratio is 0.50%: a 0.50% management fee plus 0.29% other expenses, less a 0.29% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 191%.
RLLCX Fees and Expenses
Annual operating expenses and sales charges of RLLCX. Prospectus, as of March 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.29% |
| Gross expense ratio | 0.79% |
| Fee waiver | −0.29% |
| Net expense ratio | 0.50% |
| 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 |
RLLCX Costs Over Time
On $10,000 invested in RLLCX, assuming 5% a year before costs, total costs come to $316 over 5 years, cutting the return by 0.52% 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 0.50%) | $52 | $165 | $287 |
| Lost growth on money paid in costs | $0 | $8 | $29 |
| Total costs | $52 | $173 | $316 |
| Value after costs | $10,448 | $11,403 | $12,447 |
| Impact on return, per year | 0.52% | 0.52% | 0.52% |
RLLCX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $312.5M
- Portfolio turnover (prospectus): 191%
- Securities lending: none during the year
RLLCX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN, SACHS & CO. | $43.3M | 19.47% |
| MARKETAXESS HOLDINGS, INC. | $40.6M | 18.27% |
| CITIGROUP GLOBAL MARKETS, INC (WAS SSB) | $27.7M | 12.47% |
| WELLS FARGO SECURITIES, LLC | $24.4M | 10.97% |
| STIFEL, NICOLAUS & CO., INC. | $21.6M | 9.69% |
| BOFA SECURITIES, INC. | $19.7M | 8.88% |
| J.P. MORGAN SECURITIES LLC | $17.3M | 7.80% |
| U.S. BANCORP INVESTMENTS, INC. | $10.2M | 4.59% |
| BNP PARIBAS SECURITIES CORP. | $9.6M | 4.30% |
| DEUTSCHE BANK SECURITIES, INC. | $7.9M | 3.55% |
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.