RMMBX Fees and Costs — Aspiriant Risk-Managed Municipal Bond Fund, N/a Class
Data updated: 2026-08-25
The net expense ratio is 0.43% (0.55% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1K in broker commissions, 0.0001% of average net assets, and portfolio turnover was 23%.
RMMBX Fees and Expenses
Annual operating expenses and sales charges of RMMBX. Prospectus, as of August 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.27% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.19% |
| Gross expense ratio | 0.55% |
| Fee waiver | −0.12% |
| Net expense ratio | 0.43% |
| 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 |
RMMBX Costs Over Time
On $10,000 invested in RMMBX, assuming 5% a year before costs, total costs come to $272 over 5 years, cutting the return by 0.45% 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 0.43%) | $45 | $142 | $247 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $7 | $25 |
| Total costs | $45 | $149 | $272 |
| Value after costs | $10,455 | $11,428 | $12,491 |
| Impact on return, per year | 0.45% | 0.45% | 0.45% |
RMMBX 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): 0.0001%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $1.6B
- Portfolio turnover (prospectus): 23%
- Securities lending: none during the year
RMMBX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $656 | 45.63% |
| UBS Securities LLC | $634 | 44.11% |
| J.P. Morgan Securities LLC | $97 | 6.72% |
| Charles Schwab & Co., Inc. | $40 | 2.78% |
| Citadel Securities LLC | $11 | 0.76% |
RMMBX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $1.3B | 84.08% |
| BofA Securities, Inc. | $58.1M | 3.78% |
| Wells Fargo Securities, LLC | $44.6M | 2.91% |
| RBC Capital Markets, LLC | $29.4M | 1.92% |
| Morgan Stanley & Co. LLC | $29.3M | 1.91% |
| TD SECURITIES (USA) LLC | $23.0M | 1.50% |
| Goldman Sachs & Co. LLC | $21.4M | 1.39% |
| Jefferies LLC | $14.3M | 0.93% |
| Piper Sandler & Co. | $12.3M | 0.80% |
| Barclays Capital, Inc. | $12.0M | 0.78% |
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.