SDCIX Fees and Costs — Swan Defined Risk U.S. Small Cap Fund, Class I
Data updated: 2025-02-28
The net expense ratio is 1.58% (1.84% before fee waivers). There are no sales loads or redemption fees. In fiscal 2024 the fund paid $15K in broker commissions, 0.0459% of average net assets, and portfolio turnover was 15%.
SDCIX Fees and Expenses
Annual operating expenses and sales charges of SDCIX. Prospectus, as of October 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.66% |
| Gross expense ratio | 1.84% |
| Fee waiver | −0.26% |
| Net expense ratio | 1.58% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
SDCIX Costs Over Time
On $10,000 invested in SDCIX, assuming 5% a year before costs, total costs come to $1,004 over 5 years, cutting the return by 1.71% 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 1.58%) | $166 | $514 | $886 |
| Trading costs (broker commissions) | $5 | $15 | $26 |
| Lost growth on money paid in costs | $0 | $26 | $93 |
| Total costs | $171 | $556 | $1,004 |
| Value after costs | $10,329 | $11,021 | $11,758 |
| Impact on return, per year | 1.71% | 1.71% | 1.71% |
SDCIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0459%
- Total broker commissions: $15K
- Bought from dealers (principal trades, not a cost): $836K
- Portfolio turnover (prospectus): 15%
- Securities lending: none during the year
SDCIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS | $8K | 52.62% |
| JANE STREET | $2K | 16.65% |
| BANK OF AMERICA MERRILL LYNCH | $2K | 11.75% |
| WALLACHBETH | $1K | 9.69% |
| WOLVERINE EXECUTION SERVICES | $1K | 7.43% |
| DASH FINANCIAL | $270 | 1.80% |
| STONEX FINANCIAL | $10 | 0.06% |
SDCIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| STONEX FINANCIAL | $836K | 100.00% |
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.