TCOBX Fees and Costs — Tactical Offensive Enhanced Fixed Income Fund, Share Class
Data updated: 2022-03-29
The net expense ratio is 0.80%: a 0.30% management fee plus 0.50% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 30%.
TCOBX Fees and Expenses
Annual operating expenses and sales charges of TCOBX. Prospectus, as of July 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.50% |
| Gross expense ratio | 0.80% |
| Fee waiver | — |
| Net expense ratio | 0.80% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
TCOBX Costs Over Time
On $10,000 invested in TCOBX, assuming 5% a year before costs, total costs come to $502 over 5 years, cutting the return by 0.84% 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 0.80%) | $84 | $263 | $456 |
| Lost growth on money paid in costs | $0 | $13 | $46 |
| Total costs | $84 | $276 | $502 |
| Value after costs | $10,416 | $11,301 | $12,260 |
| Impact on return, per year | 0.84% | 0.84% | 0.84% |
TCOBX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $495.3M
- Portfolio turnover (prospectus): 30%
- Securities lending: none during the year
TCOBX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN, SACHS & CO. | $113.0M | 28.29% |
| JANE STREET EXECUTION SERVICES | $81.2M | 20.34% |
| MARKET AXESS | $40.4M | 10.12% |
| CITIGROUP GLOBAL MARKETS | $36.7M | 9.19% |
| JP MORGAN | $30.0M | 7.50% |
| JEFFERIES LLC | $27.1M | 6.77% |
| BARCLAYS CAPITAL INC. | $22.4M | 5.62% |
| BANK OF AMERICA | $17.1M | 4.27% |
| BNP PARIBAS | $15.9M | 3.98% |
| MORGAN STANLEY & CO, INC | $15.7M | 3.92% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.