SRFNX Fees and Costs — Ocean Park Tactical Risk Spectrum 50 Fund, Investor Class
Data updated: 2026-08-27
The net expense ratio is 2.09%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $130K in broker commissions, 0.0397% of average net assets, and portfolio turnover was 168%.
SRFNX Fees and Expenses
Annual operating expenses and sales charges of SRFNX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.05% |
| 12b-1 fee | 0.40% |
| Other expenses | 0.24% |
| Gross expense ratio | 2.09% |
| Fee waiver | — |
| Net expense ratio | 2.09% |
| 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 | No |
| Waived fees subject to recoupment | No |
SRFNX Costs Over Time
On $10,000 invested in SRFNX, assuming 5% a year before costs, total costs come to $1,302 over 5 years, cutting the return by 2.24% 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 2.09%) | $219 | $677 | $1,160 |
| Trading costs (broker commissions) | $4 | $13 | $22 |
| Lost growth on money paid in costs | $0 | $34 | $121 |
| Total costs | $224 | $724 | $1,302 |
| Value after costs | $10,276 | $10,852 | $11,460 |
| Impact on return, per year | 2.24% | 2.24% | 2.24% |
SRFNX 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): 0.0397%
- Total broker commissions: $130K
- Bought from dealers (principal trades, not a cost): $201.8M
- Portfolio turnover (prospectus): 168%
- Securities on loan, average value: $24.9M
- Net income from securities lending: $124K (0.038% of average net assets)
SRFNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wallachbeth Capital, LLC | $98K | 75.13% |
| Goldman Sachs & Co. LLC | $32K | 24.87% |
SRFNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. Bancorp Investments, Inc. | $201.8M | 100.00% |
Ocean Park Tactical Risk Spectrum 50 Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SRFJX | Instl Class | 1.69% | none |
| SRFQX | Class A | 1.93% | 3.75% |
| SRFNX | Investor Class | 2.09% | none |
| SRFKX | Class C | 2.69% | 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.