SAIEX Fees and Costs — Spirit of America Energy Fund, Institutional Shares
Data updated: 2026-07-29
The net expense ratio is 1.28%: a 0.95% management fee plus 0.33% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $25K in broker commissions, 0.0141% of average net assets, and portfolio turnover was 6%.
SAIEX Fees and Expenses
Annual operating expenses and sales charges of SAIEX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.33% |
| Gross expense ratio | 1.28% |
| Fee waiver | — |
| Net expense ratio | 1.28% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
SAIEX Costs Over Time
On $10,000 invested in SAIEX, assuming 5% a year before costs, total costs come to $805 over 5 years, cutting the return by 1.36% 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 1.28%) | $134 | $418 | $723 |
| Trading costs (broker commissions) | $1 | $5 | $8 |
| Lost growth on money paid in costs | $0 | $21 | $74 |
| Total costs | $136 | $444 | $805 |
| Value after costs | $10,364 | $11,133 | $11,958 |
| Impact on return, per year | 1.36% | 1.36% | 1.36% |
SAIEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0141%
- Total broker commissions: $25K
- Bought from dealers (principal trades, not a cost): $506K
- Portfolio turnover (prospectus): 6%
- Securities lending: none during the year
SAIEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC CAPITAL MARKETS | $11K | 43.22% |
| WELLS FARGO SECURITIES LLC | $11K | 42.82% |
| JONES TRADING | $3K | 13.83% |
| Jeffries & Co | $30 | 0.12% |
SAIEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Jeffries & Co | $160K | 100.00% |
Spirit of America Energy Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SAIEX | Institutional Shares | 1.28% | none |
| SOAEX | Class A | 1.52% | 5.75% |
| SACEX | Class C | 2.27% | 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.