SBTAX Fees and Costs — Westwood Broadmark Tactical Plus Fund, A Class
Data updated: 2026-09-28
The net expense ratio is 1.73% (2.12% before fee waivers). This share class carries a deferred sales charge of up to 3.00%. In fiscal 2025 the fund paid $114K in broker commissions, 0.1677% of average net assets, and portfolio turnover was 670%.
SBTAX Fees and Expenses
Annual operating expenses and sales charges of SBTAX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.40% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.34% |
| Gross expense ratio | 2.12% |
| Fee waiver | −0.39% |
| Net expense ratio | 1.73% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 3.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
SBTAX Costs Over Time
On $10,000 invested in SBTAX, assuming 5% a year before costs, total costs come to $1,166 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 |
| Sales charges | $309 | $0 | $0 |
| Fund expenses (net expense ratio 1.73%) | $182 | $562 | $965 |
| Trading costs (broker commissions) | $18 | $54 | $93 |
| Lost growth on money paid in costs | $0 | $31 | $108 |
| Total costs | $508 | $647 | $1,166 |
| Value after costs | $9,992 | $10,930 | $11,597 |
| Impact on return, per year | 5.08% | 1.99% | 1.99% |
SBTAX 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): 0.1677%
- Total broker commissions: $114K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 670%
- Securities lending: none during the year
SBTAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co., LLC | $71K | 62.61% |
| Citigroup, Inc. | $43K | 37.39% |
Westwood Broadmark Tactical Plus Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BTPIX | F Class | 1.17% | none |
| SBTIX | Institutional Class | 1.48% | none |
| SBTAX | A Class | 1.73% | none |
| SBTCX | C Class | 2.57% | — |
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.