SISEX Fees and Costs — Shelton International Select Equity Fund, Institutional Class
Data updated: 2026-08-31
The net expense ratio is 0.99%: a 0.74% management fee plus 0.57% other expenses, less a 0.32% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $178K in broker commissions, 0.4645% of average net assets, and portfolio turnover was 186%.
SISEX Fees and Expenses
Annual operating expenses and sales charges of SISEX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.74% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.57% |
| Gross expense ratio | 1.31% |
| Fee waiver | −0.32% |
| Net expense ratio | 0.99% |
| 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 | Yes |
SISEX Costs Over Time
On $10,000 invested in SISEX, assuming 5% a year before costs, total costs come to $902 over 5 years, cutting the return by 1.53% 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 0.99%) | $104 | $323 | $557 |
| Trading costs (broker commissions) | $49 | $151 | $261 |
| Lost growth on money paid in costs | $0 | $24 | $83 |
| Total costs | $153 | $498 | $902 |
| Value after costs | $10,347 | $11,078 | $11,861 |
| Impact on return, per year | 1.53% | 1.53% | 1.53% |
SISEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.4645%
- Total broker commissions: $178K
- Bought from dealers (principal trades, not a cost): $48.1M
- Portfolio turnover (prospectus): 186%
- Securities on loan, average value: $434K
- Net income from securities lending: $4K (0.011% of average net assets)
SISEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET INC | $178K | 100.00% |
SISEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO BANK | $20.1M | 41.74% |
| GOLDMAN SACHS | $18.7M | 38.97% |
| MORGAN STANLEY SMITH BARNEY | $9.3M | 19.28% |
Shelton International Select Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SISEX | Institutional Class | 0.99% | — |
| SISLX | Investor Class | 1.24% | — |
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.