SOIOX Fees and Costs — Spirit of America Income and Opportunity Fund, Institutional Class
Data updated: 2023-03-15
The net expense ratio is 1.01%: a 0.65% management fee plus 0.50% other expenses, less a 0.15% fee waiver. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $317 in broker commissions, 0.0014% of average net assets, and portfolio turnover was 7%.
SOIOX Fees and Expenses
Annual operating expenses and sales charges of SOIOX. Prospectus, as of April 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.50% |
| Gross expense ratio | 1.16% |
| Fee waiver | −0.15% |
| Net expense ratio | 1.01% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
SOIOX Costs Over Time
On $10,000 invested in SOIOX, assuming 5% a year before costs, total costs come to $632 over 5 years, cutting the return by 1.06% 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 1.01%) | $106 | $331 | $574 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $0 | $16 | $58 |
| Total costs | $106 | $348 | $632 |
| Value after costs | $10,394 | $11,229 | $12,130 |
| Impact on return, per year | 1.06% | 1.06% | 1.06% |
SOIOX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0014%
- Total broker commissions: $317
- Bought from dealers (principal trades, not a cost): $2.1M
- Portfolio turnover (prospectus): 7%
- Securities lending: none during the year
SOIOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JONES TRADING | $86 | 52.04% |
| RBC CAPITAL MARKETS | $79 | 47.96% |
SOIOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| LPS FINANCIAL | $956K | 45.60% |
| RBC CAPITAL MARKETS | $891K | 42.48% |
| Wells Fargo Securities LLC | $250K | 11.93% |
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.