SPFEX Fees and Costs — Sphere 500 Climate Fund, Institutional Class
Data updated: 2026-08-24
The net expense ratio is 0.30%: a 0.07% management fee, a 0.10% 12b-1 fee plus 0.88% other expenses, less a 0.75% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $60K in broker commissions, 0.1891% of average net assets, and portfolio turnover was 49%.
SPFEX Fees and Expenses
Annual operating expenses and sales charges of SPFEX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.07% |
| 12b-1 fee | 0.10% |
| Other expenses | 0.88% |
| Gross expense ratio | 1.05% |
| Fee waiver | −0.75% |
| Net expense ratio | 0.30% |
| 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 |
SPFEX Costs Over Time
On $10,000 invested in SPFEX, assuming 5% a year before costs, total costs come to $309 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 0.30%) | $32 | $99 | $172 |
| Trading costs (broker commissions) | $20 | $62 | $109 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $51 | $169 | $309 |
| Value after costs | $10,449 | $11,407 | $12,454 |
| Impact on return, per year | 0.51% | 0.51% | 0.51% |
SPFEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1891%
- Total broker commissions: $60K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 49%
- Securities lending: none during the year
SPFEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| AXOS CLEARING LLC | $50K | 83.14% |
| PENNHAVEN BROKERAGE PARTNERS LLC | $10K | 16.86% |
Sphere 500 Climate Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SPFFX | Class R6 | 0.07% | — |
| SPFEX | Institutional Class | 0.30% | — |
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.