STBNX Fees and Costs — Ocean Park Tactical Bond Fund, Investor Class
Data updated: 2026-08-27
The net expense ratio is 2.01%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $744K in broker commissions, 0.0380% of average net assets, and portfolio turnover was 190%.
STBNX Fees and Expenses
Annual operating expenses and sales charges of STBNX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.05% |
| 12b-1 fee | 0.40% |
| Other expenses | 0.17% |
| Gross expense ratio | 2.01% |
| Fee waiver | — |
| Net expense ratio | 2.01% |
| 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 |
STBNX Costs Over Time
On $10,000 invested in STBNX, assuming 5% a year before costs, total costs come to $1,254 over 5 years, cutting the return by 2.15% 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 2.01%) | $211 | $651 | $1,117 |
| Trading costs (broker commissions) | $4 | $12 | $21 |
| Lost growth on money paid in costs | $0 | $33 | $116 |
| Total costs | $215 | $697 | $1,254 |
| Value after costs | $10,285 | $10,879 | $11,508 |
| Impact on return, per year | 2.15% | 2.15% | 2.15% |
STBNX 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): 0.0380%
- Total broker commissions: $744K
- Bought from dealers (principal trades, not a cost): $1.2B
- Portfolio turnover (prospectus): 190%
- Securities on loan, average value: $162.4M
- Net income from securities lending: $1.0M (0.053% of average net assets)
STBNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wallachbeth Capital, LLC | $489K | 65.68% |
| Goldman Sachs & Co. LLC | $256K | 34.32% |
STBNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. Bancorp Investments, Inc. | $1.2B | 100.00% |
Ocean Park Tactical Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| STBJX | Instl Class | 1.61% | none |
| STBKX | Class A | 1.86% | 3.75% |
| STBNX | Investor Class | 2.01% | none |
| STBDX | Class C | 2.61% | 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.