SRUAX Fees and Costs — Spectrum Fund, Adviser Class
Data updated: 2026-08-05
The net expense ratio is 0.40% (1.59% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $480K in broker commissions, 0.2073% of average net assets, and portfolio turnover was 240%.
SRUAX Fees and Expenses
Annual operating expenses and sales charges of SRUAX. Prospectus, as of May 14, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.73% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.45% |
| Gross expense ratio | 1.59% |
| Fee waiver | — |
| Net expense ratio | 0.40% |
| 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 |
SRUAX Costs Over Time
On $10,000 invested in SRUAX, assuming 5% a year before costs, total costs come to $383 over 5 years, cutting the return by 0.64% 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 0.40%) | $42 | $132 | $229 |
| Trading costs (broker commissions) | $22 | $68 | $119 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $64 | $210 | $383 |
| Value after costs | $10,436 | $11,367 | $12,380 |
| Impact on return, per year | 0.64% | 0.64% | 0.64% |
SRUAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.2073%
- Total broker commissions: $480K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 240%
- Securities lending: none during the year
SRUAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $480K | 99.83% |
| TD COWEN | $763 | 0.16% |
| CLEAR STREET LLC | $75 | 0.02% |
Spectrum Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FLSPX | Retail Class | 0.40% | — |
| SRUAX | Adviser Class | 0.40% | — |
| SRUIX | Institutional Class | 0.40% | — |
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.