SEPIX Fees and Costs — Saratoga Energy & Basic Materials Portfolio, Class I
Data updated: 2026-01-28
The net expense ratio is 3.40%: a 1.25% management fee plus 2.15% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $220 in broker commissions, 0.0190% of average net assets, and portfolio turnover was 47%.
SEPIX Fees and Expenses
Annual operating expenses and sales charges of SEPIX. Prospectus, as of December 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 2.15% |
| Gross expense ratio | 3.40% |
| Fee waiver | — |
| Net expense ratio | 3.40% |
| 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 |
SEPIX Costs Over Time
On $10,000 invested in SEPIX, assuming 5% a year before costs, total costs come to $2,038 over 5 years, cutting the return by 3.59% 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 3.40%) | $357 | $1,086 | $1,836 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $0 | $55 | $191 |
| Total costs | $359 | $1,147 | $2,038 |
| Value after costs | $10,141 | $10,429 | $10,725 |
| Impact on return, per year | 3.59% | 3.59% | 3.59% |
SEPIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0190%
- Total broker commissions: $220
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 47%
- Securities lending: none during the year
SEPIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Instinet, Inc. | $220 | 100.00% |
Saratoga Energy & Basic Materials Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SEPIX | Class I | 3.40% | none |
| SBMBX | Class A | 3.81% | 5.75% |
| SEPCX | Class C | 4.85% | none |
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.