STMEX Fees and Costs — Ocean Park Tactical Municipal Fund, Instl Class
Data updated: 2026-08-27
The net expense ratio is 1.63% (1.66% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $73K in broker commissions, 0.0302% of average net assets, and portfolio turnover was 200%.
STMEX Fees and Expenses
Annual operating expenses and sales charges of STMEX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.34% |
| Gross expense ratio | 1.66% |
| Fee waiver | −0.03% |
| Net expense ratio | 1.63% |
| 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 | Yes |
| Waived fees subject to recoupment | Yes |
STMEX Costs Over Time
On $10,000 invested in STMEX, assuming 5% a year before costs, total costs come to $1,025 over 5 years, cutting the return by 1.74% 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 1.63%) | $171 | $530 | $913 |
| Trading costs (broker commissions) | $3 | $10 | $17 |
| Lost growth on money paid in costs | $0 | $27 | $95 |
| Total costs | $174 | $567 | $1,025 |
| Value after costs | $10,326 | $11,009 | $11,738 |
| Impact on return, per year | 1.74% | 1.74% | 1.74% |
STMEX 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): 0.0302%
- Total broker commissions: $73K
- Bought from dealers (principal trades, not a cost): $605.4M
- Portfolio turnover (prospectus): 200%
- Securities on loan, average value: $16.7M
- Net income from securities lending: $290K (0.120% of average net assets)
STMEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wallachbeth Capital, LLC | $57K | 78.36% |
| Goldman Sachs & Co. LLC | $16K | 21.64% |
STMEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. Bancorp Investments, Inc. | $605.4M | 100.00% |
Ocean Park Tactical Municipal Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| STMYX | Special Shares | 1.50% | none |
| STMEX | Instl Class | 1.63% | none |
| STMKX | Class A | 1.81% | 3.75% |
| STMNX | Investor Class | 1.95% | none |
| STMHX | Class C | 2.56% | 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.