SAOAX Fees and Costs — Guggenheim Alpha Opportunity Fund, Class A
Data updated: 2024-12-13
The net expense ratio is 1.74%: a 0.90% management fee, a 0.25% 12b-1 fee plus 0.79% other expenses, less a 0.20% fee waiver. This share class carries a maximum front-end sales load of 4.75%. In fiscal 2024 the fund paid $49K in broker commissions, 0.1293% of average net assets, and portfolio turnover was 309%.
SAOAX Fees and Expenses
Annual operating expenses and sales charges of SAOAX. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.79% |
| Gross expense ratio | 1.94% |
| Fee waiver | −0.20% |
| Net expense ratio | 1.74% |
| Sales charges | |
|---|---|
| Max front load | 4.75% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
SAOAX Costs Over Time
On $10,000 invested in SAOAX, assuming 5% a year before costs, total costs come to $1,701 over 5 years, cutting the return by 2.96% 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 |
| Sales charges | $475 | $475 | $475 |
| Fund expenses (net expense ratio 1.74%) | $174 | $538 | $925 |
| Trading costs (broker commissions) | $13 | $40 | $69 |
| Lost growth on money paid in costs | $24 | $104 | $232 |
| Total costs | $686 | $1,157 | $1,701 |
| Value after costs | $9,814 | $10,420 | $11,062 |
| Impact on return, per year | 6.86% | 3.62% | 2.96% |
SAOAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.1293%
- Total broker commissions: $49K
- Bought from dealers (principal trades, not a cost): $124K
- Portfolio turnover (prospectus): 309%
- Securities lending: none during the year
SAOAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $47K | 97.07% |
| Morgan Stanley & Co. LLC | $1K | 2.40% |
| Citigroup Global Markets Inc. | $253 | 0.52% |
| GOLDMAN SACHS & CO. LLC | $4 | 0.01% |
SAOAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $124K | 99.99% |
| Morgan Stanley & Co. LLC | $18 | 0.01% |
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.