SRDBX Fees and Costs — Stone Ridge Diversified Alternatives Fund, Class J
Data updated: 2026-09-29
The net expense ratio is 2.22%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2.2M in broker commissions, 0.1282% of average net assets, and portfolio turnover was 2793%.
SRDBX Fees and Expenses
Annual operating expenses and sales charges of SRDBX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.43% |
| 12b-1 fee | — |
| Other expenses | 0.09% |
| Gross expense ratio | 2.22% |
| Fee waiver | — |
| Net expense ratio | 2.22% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
SRDBX Costs Over Time
On $10,000 invested in SRDBX, assuming 5% a year before costs, total costs come to $1,430 over 5 years, cutting the return by 2.47% 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 2.22%) | $233 | $717 | $1,226 |
| Trading costs (broker commissions) | $13 | $41 | $71 |
| Lost growth on money paid in costs | $0 | $38 | $133 |
| Total costs | $247 | $797 | $1,430 |
| Value after costs | $10,253 | $10,780 | $11,333 |
| Impact on return, per year | 2.47% | 2.47% | 2.47% |
SRDBX 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): 0.1282%
- Total broker commissions: $2.2M
- Bought from dealers (principal trades, not a cost): $3.4B
- Portfolio turnover (prospectus): 2793%
- Securities lending: none during the year
SRDBX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $1.2M | 56.21% |
| BNP PARIBAS SECURITIES CORP. | $714K | 32.80% |
| DASH FINANCIAL TECHNOLOGIES LLC | $229K | 10.50% |
| JONESTRADING INSTITUTIONAL SERVICES LLC | $5K | 0.22% |
| MACQUARIE CAPITAL (USA) INC. | $3K | 0.14% |
| TJM INVESTMENTS LLC | $2K | 0.10% |
| NEW CENTURY CAPITAL PARTNERS INC. | $914 | 0.04% |
| MAREX CAPITAL MARKETS INC. | $78 | 0.00% |
| MAREX NORTH AMERICA SECURITIES LLC | $10 | 0.00% |
SRDBX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $1.3B | 40.81% |
| GOLDMAN SACHS & CO. LLC | $813.0M | 24.64% |
| MORGAN STANLEY & CO. LLC | $710.5M | 21.53% |
| CROSS RIVER MANAGEMENT, LLC | $105.2M | 3.19% |
| SWISS RE CAPITAL MARKETS CORPORATION | $84.5M | 2.56% |
| GUY CARPENTER ADVISORS, INC. | $73.6M | 2.23% |
| AON SECURITIES INC. | $65.2M | 1.97% |
| JEFFERIES LLC | $61.9M | 1.87% |
| LONGLEAF | $25.0M | 0.76% |
| EDEN RE II LTD. | $14.3M | 0.43% |
Stone Ridge Diversified Alternatives Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SRDAX | Class I | 1.92% | — |
| SRDBX | Class J | 2.22% | — |
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.