SDFIX Fees and Costs — Swan Defined Risk Emerging Markets Fund, Class I
Data updated: 2025-02-28
The net expense ratio is 1.48% (1.76% before fee waivers). There are no sales loads or redemption fees. In fiscal 2024 the fund paid $109K in broker commissions, 0.4026% of average net assets, and portfolio turnover was 15%.
SDFIX Fees and Expenses
Annual operating expenses and sales charges of SDFIX. Prospectus, as of October 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.68% |
| Gross expense ratio | 1.76% |
| Fee waiver | −0.28% |
| Net expense ratio | 1.48% |
| 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 |
SDFIX Costs Over Time
On $10,000 invested in SDFIX, assuming 5% a year before costs, total costs come to $1,157 over 5 years, cutting the return by 1.98% 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 1.48%) | $155 | $480 | $825 |
| Trading costs (broker commissions) | $42 | $131 | $225 |
| Lost growth on money paid in costs | $0 | $30 | $107 |
| Total costs | $198 | $642 | $1,157 |
| Value after costs | $10,302 | $10,935 | $11,606 |
| Impact on return, per year | 1.98% | 1.98% | 1.98% |
SDFIX 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): 0.4026%
- Total broker commissions: $109K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 15%
- Securities lending: none during the year
SDFIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JANE STREET | $54K | 49.82% |
| GOLDMAN SACHS | $37K | 33.89% |
| BANK OF AMERICA MERRILL LYNCH | $11K | 9.88% |
| UBS | $6K | 5.79% |
| DASH FINANCIAL | $638 | 0.59% |
| WOLVERINE EXECUTION SERVICES | $30 | 0.03% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.