SHRIX Fees and Costs — Stone Ridge High Yield Reinsurance Risk Premium Fund, Class I
Data updated: 2026-09-29
The net expense ratio is 1.76%: a 1.50% management fee plus 0.26% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 2472%.
SHRIX Fees and Expenses
Annual operating expenses and sales charges of SHRIX. Prospectus, as of February 28, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.26% |
| Gross expense ratio | 1.76% |
| Fee waiver | — |
| Net expense ratio | 1.76% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
SHRIX Costs Over Time
On $10,000 invested in SHRIX, assuming 5% a year before costs, total costs come to $1,084 over 5 years, cutting the return by 1.85% 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 1.76%) | $185 | $572 | $984 |
| Lost growth on money paid in costs | $0 | $28 | $100 |
| Total costs | $185 | $601 | $1,084 |
| Value after costs | $10,315 | $10,976 | $11,679 |
| Impact on return, per year | 1.85% | 1.85% | 1.85% |
SHRIX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $3.2B
- Portfolio turnover (prospectus): 2472%
- Securities lending: none during the year
SHRIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| KANE FINANCIAL | $805.7M | 26.93% |
| J.P. MORGAN SECURITIES LLC | $721.1M | 24.10% |
| GUY CARPENTER ADVISORS, INC. | $437.8M | 14.63% |
| AON SECURITIES INC. | $417.0M | 13.94% |
| SWISS RE CAPITAL MARKETS CORPORATION | $229.8M | 7.68% |
| MORGAN STANLEY & CO. LLC | $97.8M | 3.27% |
| GALLAGHER SECURITIES, INC | $80.2M | 2.68% |
| EDEN RE II LTD. | $73.6M | 2.46% |
| HOWDEN TIGER CAPITAL MARKETS & ADVISORY LLC | $67.1M | 2.24% |
| BEECH HILL SECURITIES, INC. | $62.0M | 2.07% |
Stone Ridge High Yield Reinsurance Risk Premium Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SHRIX | Class I | 1.76% | — |
| SHRMX | Class M | 1.91% | — |
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.