SPTBX Fees and Costs — SP Funds 2040 Target Date Fund, Investor Shares
Data updated: 2026-09-18
The net expense ratio is 1.32%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $480 in broker commissions, 0.0222% of average net assets, and portfolio turnover was 1%.
SPTBX Fees and Expenses
Annual operating expenses and sales charges of SPTBX. Prospectus, as of February 26, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.00% |
| Gross expense ratio | 1.32% |
| Fee waiver | — |
| Net expense ratio | 1.32% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
SPTBX Costs Over Time
On $10,000 invested in SPTBX, assuming 5% a year before costs, total costs come to $834 over 5 years, cutting the return by 1.41% 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 1.32%) | $139 | $431 | $745 |
| Trading costs (broker commissions) | $2 | $7 | $13 |
| Lost growth on money paid in costs | $0 | $22 | $77 |
| Total costs | $141 | $460 | $834 |
| Value after costs | $10,359 | $11,116 | $11,929 |
| Impact on return, per year | 1.41% | 1.41% | 1.41% |
SPTBX 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): 0.0222%
- Total broker commissions: $480
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 1%
- Securities lending: none during the year
SPTBX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $480 | 100.00% |
SP Funds 2040 Target Date Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SPTNX | Institutional Shares | 0.92% | — |
| SPTBX | Investor Shares | 1.32% | — |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.