RNEIX Fees and Costs — Rational RGN Hedged Equity Fund, Institutional Shares
Data updated: 2026-08-28
The net expense ratio is 2.05% (3.88% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $58K in broker commissions, 0.5680% of average net assets, and portfolio turnover was 4%.
RNEIX Fees and Expenses
Annual operating expenses and sales charges of RNEIX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 2.08% |
| Gross expense ratio | 3.88% |
| Fee waiver | −1.83% |
| Net expense ratio | 2.05% |
| 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 | Yes |
RNEIX Costs Over Time
On $10,000 invested in RNEIX, assuming 5% a year before costs, total costs come to $1,585 over 5 years, cutting the return by 2.75% 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 2.05%) | $215 | $660 | $1,126 |
| Trading costs (broker commissions) | $60 | $183 | $312 |
| Lost growth on money paid in costs | $0 | $42 | $148 |
| Total costs | $275 | $886 | $1,585 |
| Value after costs | $10,225 | $10,691 | $11,177 |
| Impact on return, per year | 2.75% | 2.75% | 2.75% |
RNEIX 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): 0.5680%
- Total broker commissions: $58K
- Bought from dealers (principal trades, not a cost): $3.8B
- Portfolio turnover (prospectus): 4%
- Securities lending: none during the year
RNEIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| ADM INVESTOR SERVICES, INC | $57K | 99.21% |
| STONEX FINANCIAL INC | $454 | 0.79% |
RNEIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| ADM Investor Services, Inc. | $3.6B | 96.05% |
| BARCLAYS CAPITAL INC | $148.4M | 3.93% |
| US BANCORP | $570K | 0.02% |
| WESTMINSTER FINANCIAL | $25K | 0.00% |
Rational RGN Hedged Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RNEIX | Institutional Shares | 2.05% | none |
| RNEAX | Class A | 2.30% | 5.75% |
| RNECX | Class C | 3.05% | 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.