SMDSX Fees and Costs — ALPS | Smith Short Duration Bond Fund, Class I
Data updated: 2026-09-25
The net expense ratio is 0.49%: a 0.37% management fee plus 0.21% other expenses, less a 0.09% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 109%.
SMDSX Fees and Expenses
Annual operating expenses and sales charges of SMDSX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.37% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.21% |
| Gross expense ratio | 0.58% |
| Fee waiver | −0.09% |
| Net expense ratio | 0.49% |
| 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 |
SMDSX Costs Over Time
On $10,000 invested in SMDSX, assuming 5% a year before costs, total costs come to $310 over 5 years, cutting the return by 0.51% 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 0.49%) | $51 | $161 | $281 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $51 | $169 | $310 |
| Value after costs | $10,449 | $11,407 | $12,453 |
| Impact on return, per year | 0.51% | 0.51% | 0.51% |
SMDSX 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): $1.3B
- Portfolio turnover (prospectus): 109%
- Securities lending: none during the year
SMDSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS CAPITAL INC. | $149.7M | 14.45% |
| CITIDEL SECURITIES LLC | $146.8M | 14.16% |
| Morgan Stanley | $131.1M | 12.65% |
| WELLS FARGO SECURITIES, LLC | $120.6M | 11.64% |
| MERRILL LYNCH PROFESSIONAL CLEARING CORP. | $97.8M | 9.44% |
| DEUTSCHE BANK SECURITIES INC. | $97.7M | 9.43% |
| GOLDMAN SACHS & CO. LLC | $84.4M | 8.14% |
| MUFG SECURITIES AMERICAS INC. | $82.2M | 7.93% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $75.9M | 7.33% |
| BNP Paribas Securities Corp. | $50.0M | 4.82% |
ALPS | Smith Short Duration Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SMDSX | Class I | 0.49% | none |
| SMASX | Class A | 0.79% | 2.25% |
| SMRSX | Investor Shares | 0.79% | none |
| SMCMX | Class C | 1.49% | 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.