SEVAX Fees and Costs — Guggenheim SMid Cap Value Fund, Class A
Data updated: 2024-12-13
The net expense ratio is 1.15%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.20% other expenses, less a 0.05% fee waiver. This share class carries a maximum front-end sales load of 4.75%. In fiscal 2024 the fund paid $247K in broker commissions, 0.0661% of average net assets, and portfolio turnover was 28%.
SEVAX Fees and Expenses
Annual operating expenses and sales charges of SEVAX. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.20% |
| Gross expense ratio | 1.20% |
| Fee waiver | −0.05% |
| Net expense ratio | 1.15% |
| Sales charges | |
|---|---|
| Max front load | 4.75% |
| 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 |
SEVAX Costs Over Time
On $10,000 invested in SEVAX, assuming 5% a year before costs, total costs come to $1,328 over 5 years, cutting the return by 2.28% 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 | $475 | $475 | $475 |
| Fund expenses (net expense ratio 1.15%) | $115 | $358 | $620 |
| Trading costs (broker commissions) | $7 | $21 | $36 |
| Lost growth on money paid in costs | $24 | $94 | $198 |
| Total costs | $620 | $947 | $1,328 |
| Value after costs | $9,880 | $10,629 | $11,435 |
| Impact on return, per year | 6.20% | 2.95% | 2.28% |
SEVAX 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): 0.0661%
- Total broker commissions: $247K
- Bought from dealers (principal trades, not a cost): $4.8M
- Portfolio turnover (prospectus): 28%
- Securities lending: none during the year
SEVAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $38K | 16.87% |
| STEPHENS INC. | $32K | 14.27% |
| JEFFERIES LLC | $30K | 13.54% |
| COWEN AND COMPANY | $27K | 11.84% |
| Keefe, Bruyette & Woods, Inc. | $23K | 10.07% |
| TRUIST SECURITIES, INC. | $22K | 9.83% |
| Piper Sandler & Co. | $16K | 7.18% |
| ROBERT W. BAIRD & CO. INCORPORATED | $15K | 6.87% |
| NEEDHAM & COMPANY, LLC | $12K | 5.51% |
| Stifel, Nicolaus & Company, Incorporated | $9K | 4.02% |
SEVAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Tender Offer | $4.8M | 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.