RWDNX Fees and Costs — Redwood Managed Volatility Fund, Class N
Data updated: 2026-09-28
The net expense ratio is 2.45%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $5K in broker commissions, 0.0044% of average net assets, and portfolio turnover was 90%.
RWDNX Fees and Expenses
Annual operating expenses and sales charges of RWDNX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.33% |
| Gross expense ratio | 2.45% |
| Fee waiver | — |
| Net expense ratio | 2.45% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
RWDNX Costs Over Time
On $10,000 invested in RWDNX, assuming 5% a year before costs, total costs come to $1,491 over 5 years, cutting the return by 2.58% 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 2.45%) | $257 | $791 | $1,350 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $40 | $139 |
| Total costs | $258 | $832 | $1,491 |
| Value after costs | $10,242 | $10,745 | $11,272 |
| Impact on return, per year | 2.58% | 2.58% | 2.58% |
RWDNX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0044%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $251.8M
- Portfolio turnover (prospectus): 90%
- Securities lending: none during the year
RWDNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE | $5K | 100.00% |
RWDNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| US Bancorp Investments, Inc. | $227.2M | 90.24% |
| JANE STREET | $22.9M | 9.11% |
| UMB | $1.5M | 0.58% |
| JPMORGAN CHASE | $178K | 0.07% |
Redwood Managed Volatility Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RWDIX | Class I | 2.20% | none |
| RWDYX | Class Y | 2.20% | none |
| RWDNX | Class N | 2.45% | 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.