RYRSX Fees and Costs — Russell 2000 2x Strategy Fund, H-Class Shares
Data updated: 2026-08-28
The net expense ratio is 1.87%: a 0.90% management fee, a 0.25% 12b-1 fee plus 0.82% other expenses, less a 0.10% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $11K in broker commissions, 0.0214% of average net assets, and portfolio turnover was 40%.
RYRSX Fees and Expenses
Annual operating expenses and sales charges of RYRSX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.82% |
| Gross expense ratio | 1.97% |
| Fee waiver | −0.10% |
| Net expense ratio | 1.87% |
| 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 | No |
RYRSX Costs Over Time
On $10,000 invested in RYRSX, assuming 5% a year before costs, total costs come to $1,162 over 5 years, cutting the return by 1.99% 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 1.87%) | $196 | $607 | $1,043 |
| Trading costs (broker commissions) | $2 | $7 | $12 |
| Lost growth on money paid in costs | $0 | $31 | $108 |
| Total costs | $199 | $645 | $1,162 |
| Value after costs | $10,301 | $10,932 | $11,601 |
| Impact on return, per year | 1.99% | 1.99% | 1.99% |
RYRSX 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): 0.0214%
- Total broker commissions: $11K
- Bought from dealers (principal trades, not a cost): $5.4B
- Portfolio turnover (prospectus): 40%
- Securities on loan, average value: $822K
- Net income from securities lending: $5K (0.009% of average net assets)
RYRSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $9K | 84.10% |
| INSTINET, LLC | $2K | 15.90% |
RYRSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $1.7B | 31.75% |
| BARCLAYS CAPITAL, INC. | $1.1B | 21.30% |
| GOLDMAN SACHS & CO. LLC | $1.1B | 19.93% |
| BOFA SECURITIES, INC. | $838.6M | 15.75% |
| BNP PARIBAS SECURITIES CORP. | $305.2M | 5.73% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $145.7M | 2.74% |
| Daiwa Capital Markets America, Inc. | $44.0M | 0.83% |
| BMO CAPITAL MARKETS CORP. | $41.3M | 0.78% |
| CitiGroup Global Markets Inc. | $38.0M | 0.71% |
| Mizuho Securities USA LLC | $25.6M | 0.48% |
Russell 2000 2x Strategy Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RYRUX | A-Class Shares | 1.79% | 4.75% |
| RYRSX | H-Class Shares | 1.87% | — |
| RYRLX | C-Class Shares | 2.53% | 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.