RNCIX Fees and Costs — RiverNorth Core Opportunity Fund, Class I
Data updated: 2025-08-28
The net expense ratio is 4.05%. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $10K in broker commissions, 0.0225% of average net assets, and portfolio turnover was 41%.
RNCIX Fees and Expenses
Annual operating expenses and sales charges of RNCIX. Prospectus, as of January 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.58% |
| Gross expense ratio | 4.05% |
| Fee waiver | — |
| Net expense ratio | 4.05% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
RNCIX Costs Over Time
On $10,000 invested in RNCIX, assuming 5% a year before costs, total costs come to $2,396 over 5 years, cutting the return by 4.28% 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 4.05%) | $425 | $1,285 | $2,157 |
| Trading costs (broker commissions) | $2 | $7 | $12 |
| Lost growth on money paid in costs | $0 | $65 | $226 |
| Total costs | $428 | $1,358 | $2,396 |
| Value after costs | $10,072 | $10,219 | $10,367 |
| Impact on return, per year | 4.28% | 4.28% | 4.28% |
RNCIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0225%
- Total broker commissions: $10K
- Bought from dealers (principal trades, not a cost): $2.7M
- Portfolio turnover (prospectus): 41%
- Securities lending: none during the year
RNCIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| FIDELITY BROKERAGE SERVICES LLC | $3K | 32.35% |
| JONESTRADING | $3K | 29.30% |
| FALCONBRIDGE CAPITAL MARKETS, LLC | $2K | 18.71% |
| JEFFERIES LLC | $1K | 10.96% |
| RBC CAPITAL MARKETS, LLC | $500 | 4.89% |
| MISCHLER FINANCIAL GROUP, INC. | $162 | 1.58% |
| BTIG, LLC | $102 | 1.00% |
| CAPITAL INSTITUTIONAL SERVICES, INC. | $75 | 0.73% |
| UBS SECURITIES LLC | $48 | 0.47% |
RNCIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BTIG, LLC | $1.2M | 43.60% |
| DOUGHERTY & CO | $923K | 34.62% |
| OPPENHEIMER & CO. INC. | $486K | 18.21% |
| MARKETAXESS CORPORATION | $95K | 3.58% |
| FIDELITY BROKERAGE SERVICES LLC | $40 | 0.00% |
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.