RMEAX Fees and Costs — Aspiriant Risk-Managed Equity Allocation Fund, Advisor Shares
Data updated: 2026-08-25
The net expense ratio is 1.24% (1.37% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $149K in broker commissions, 0.0110% of average net assets, and portfolio turnover was 19%.
RMEAX Fees and Expenses
Annual operating expenses and sales charges of RMEAX. Prospectus, as of August 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.24% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.18% |
| Gross expense ratio | 1.37% |
| Fee waiver | −0.13% |
| Net expense ratio | 1.24% |
| 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 | No |
RMEAX Costs Over Time
On $10,000 invested in RMEAX, assuming 5% a year before costs, total costs come to $779 over 5 years, cutting the return by 1.31% 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 1.24%) | $130 | $405 | $701 |
| Trading costs (broker commissions) | $1 | $4 | $6 |
| Lost growth on money paid in costs | $0 | $20 | $72 |
| Total costs | $131 | $429 | $779 |
| Value after costs | $10,369 | $11,147 | $11,984 |
| Impact on return, per year | 1.31% | 1.31% | 1.31% |
RMEAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0110%
- Total broker commissions: $149K
- Bought from dealers (principal trades, not a cost): $1.0B
- Portfolio turnover (prospectus): 19%
- Securities on loan, average value: $42.7M
- Net income from securities lending: $127K (0.009% of average net assets)
RMEAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $21K | 17.86% |
| Morgan Stanley & Co. LLC | $14K | 12.13% |
| UBS Securities LLC | $13K | 10.88% |
| Jefferies LLC | $12K | 10.32% |
| Citigroup Global Markets Inc. | $12K | 10.22% |
| Goldman Sachs & Co. LLC | $11K | 9.64% |
| BofA Securities, Inc. | $11K | 9.60% |
| Instinet, LLC | $10K | 8.19% |
| BNP Paribas Securities Corp. | $7K | 6.30% |
| Barclays Capital, Inc. | $6K | 4.86% |
RMEAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $974.1M | 94.74% |
| Direct Broker | $49.5M | 4.82% |
| Morgan Stanley & Co. LLC | $4.6M | 0.44% |
| Barclays Capital, Inc. | $20 | 0.00% |
| Goldman Sachs & Co. LLC | $15 | 0.00% |
Aspiriant Risk-Managed Equity Allocation Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RMEAX | Advisor Shares | 1.24% | none |
| RMEIX | C000111027 | 1.49% | 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.