SAOIX Fees and Costs — Guggenheim Alpha Opportunity Fund, Institutional Class
Data updated: 2024-12-13
The net expense ratio is 1.49%: a 0.90% management fee plus 0.66% other expenses, less a 0.07% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $49K in broker commissions, 0.1293% of average net assets, and portfolio turnover was 309%.
SAOIX Fees and Expenses
Annual operating expenses and sales charges of SAOIX. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.66% |
| Gross expense ratio | 1.56% |
| Fee waiver | −0.07% |
| Net expense ratio | 1.49% |
| 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 | Yes |
| Waived fees subject to recoupment | Yes |
SAOIX Costs Over Time
On $10,000 invested in SAOIX, assuming 5% a year before costs, total costs come to $1,000 over 5 years, cutting the return by 1.70% 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 1.49%) | $156 | $485 | $836 |
| Trading costs (broker commissions) | $14 | $42 | $73 |
| Lost growth on money paid in costs | $0 | $26 | $92 |
| Total costs | $170 | $553 | $1,000 |
| Value after costs | $10,330 | $11,023 | $11,762 |
| Impact on return, per year | 1.70% | 1.70% | 1.70% |
SAOIX 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
SAOIX 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% |
SAOIX 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.