SIBAX Fees and Costs — Sit Balanced Fund
Data updated: 2026-09-08
The net expense ratio is 0.89%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $4K in broker commissions, 0.0050% of average net assets, and portfolio turnover was 35%.
SIBAX Fees and Expenses
Annual operating expenses and sales charges of SIBAX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | — |
| Other expenses | — |
| Gross expense ratio | 0.89% |
| Fee waiver | — |
| Net expense ratio | 0.89% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
SIBAX Costs Over Time
On $10,000 invested in SIBAX, assuming 5% a year before costs, total costs come to $561 over 5 years, cutting the return by 0.94% 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 0.89%) | $93 | $292 | $507 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $15 | $51 |
| Total costs | $94 | $308 | $561 |
| Value after costs | $10,406 | $11,268 | $12,202 |
| Impact on return, per year | 0.94% | 0.94% | 0.94% |
SIBAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0050%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $22.1M
- Portfolio turnover (prospectus): 35%
- Securities lending: none during the year
SIBAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MISCHLER FINANCIAL GROUP, INC. | $1K | 32.37% |
| CLEAR STREET LLC | $974 | 26.19% |
| J.P. Morgan Securities LLC | $464 | 12.48% |
| TD SECURITIES (USA) LLC | $376 | 10.11% |
| MORGAN STANLEY & CO. LLC | $285 | 7.66% |
| RBC CAPITAL MARKETS, LLC | $162 | 4.36% |
| BARCLAYS CAPITAL, INC. | $101 | 2.72% |
| LIQUIDNET, INC. | $93 | 2.50% |
| CAPITAL INSTITUTIONAL SERVICES, INC | $44 | 1.18% |
| Merrill Lynch Pierce Fenner & Smith Inc | $16 | 0.43% |
SIBAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| ARBOR RESEARCH AND TRADING LLC | $6.7M | 36.97% |
| Robert W. Baird & Co. Incorporated | $2.8M | 15.65% |
| STIFEL, NICOLAUS & COMPANY, INC. | $2.6M | 14.43% |
| HILLTOP SECURITIES INC. | $1.2M | 6.53% |
| CANTOR FITZGERALD & CO. | $1.0M | 5.65% |
| J.P. Morgan Securities LLC | $914K | 5.02% |
| BNP PARIBAS SECURITIES CORP. | $911K | 5.00% |
| GOLDMAN SACHS & CO. LLC | $661K | 3.63% |
| MORGAN STANLEY & CO. LLC | $652K | 3.58% |
| RAYMOND JAMES & ASSOCIATES, INC. | $644K | 3.54% |
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.