RNOTX Fees and Costs — RiverNorth/Oaktree High Income Fund, Class R
Data updated: 2026-08-27
The net expense ratio is 1.66% (1.89% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1K in broker commissions, 0.0023% of average net assets, and portfolio turnover was 67%.
RNOTX Fees and Expenses
Annual operating expenses and sales charges of RNOTX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.58% |
| Gross expense ratio | 1.89% |
| Fee waiver | −0.23% |
| Net expense ratio | 1.66% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
RNOTX Costs Over Time
On $10,000 invested in RNOTX, assuming 5% a year before costs, total costs come to $1,026 over 5 years, cutting the return by 1.75% 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 1.66%) | $174 | $540 | $930 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $27 | $95 |
| Total costs | $175 | $568 | $1,026 |
| Value after costs | $10,325 | $11,008 | $11,737 |
| Impact on return, per year | 1.75% | 1.75% | 1.75% |
RNOTX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0023%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $60.6M
- Portfolio turnover (prospectus): 67%
- Securities lending: none during the year
RNOTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| FALCONBRIDGE CAPITAL MARKETS, LLC | $591 | 46.68% |
| JONES TRADING | $256 | 20.22% |
| OPPENHEIMER & CO. INC. | $205 | 16.19% |
| FIDELITY BROKERAGE SERVICES LLC | $139 | 10.98% |
| BOFA SECURITIES, INC. | $41 | 3.24% |
| CITADEL SECURITIES LLC | $34 | 2.69% |
RNOTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $8.7M | 18.09% |
| JPMORGAN DISTRIBUTION SERVICES, INC. | $6.9M | 14.32% |
| MORGAN STANLEY | $4.9M | 10.25% |
| JEFFERIES LLC | $4.8M | 9.94% |
| MERRILL LYNCH PROFESSIONAL CLEARING CORP. | $4.4M | 9.08% |
| BARCLAYS CAPITAL INC. | $4.3M | 8.85% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $4.0M | 8.27% |
| HSBC SECURITIES (USA) INC. | $3.7M | 7.60% |
| DEUTSCHE BANK SECURITIES INC. | $3.3M | 6.81% |
| CITICORP SECURITIES SERVICES, INC. | $3.3M | 6.79% |
RiverNorth/Oaktree High Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RNHIX | Class I | 1.41% | — |
| RNOTX | Class R | 1.66% | — |
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.