STAKX Fees and Costs — Core Market Neutral Fund, Institutional Class
Data updated: 2020-06-12
The net expense ratio is 1.86%: a 0.99% management fee plus 1.80% other expenses, less a 0.93% fee waiver. This share class carries a redemption fee of 1.00%. Portfolio turnover was 0%.
STAKX Fees and Expenses
Annual operating expenses and sales charges of STAKX. Prospectus, as of July 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.99% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.80% |
| Gross expense ratio | 2.79% |
| Fee waiver | −0.93% |
| Net expense ratio | 1.86% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
STAKX Costs Over Time
On $10,000 invested in STAKX, assuming 5% a year before costs, total costs come to $1,144 over 5 years, cutting the return by 1.95% 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 1.86%) | $195 | $604 | $1,038 |
| Lost growth on money paid in costs | $0 | $30 | $106 |
| Total costs | $195 | $634 | $1,144 |
| Value after costs | $10,305 | $10,942 | $11,619 |
| Impact on return, per year | 1.95% | 1.95% | 1.95% |
STAKX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $55.3M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
STAKX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| NOMURA GROUP | $52.5M | 94.94% |
| MORGAN STANLEY SMITH BARNEY | $2.8M | 5.06% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.