TCOEX Fees and Costs — Tactical Offensive Equity Fund, Share Class
Data updated: 2022-06-28
The net expense ratio is 0.68%: a 0.20% management fee plus 0.48% other expenses. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $168K in broker commissions, 0.0070% of average net assets, and portfolio turnover was 18%.
TCOEX Fees and Expenses
Annual operating expenses and sales charges of TCOEX. Prospectus, as of July 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.48% |
| Gross expense ratio | 0.68% |
| Fee waiver | — |
| Net expense ratio | 0.68% |
| 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 |
TCOEX Costs Over Time
On $10,000 invested in TCOEX, assuming 5% a year before costs, total costs come to $432 over 5 years, cutting the return by 0.72% 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 0.68%) | $71 | $223 | $389 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $72 | $237 | $432 |
| Value after costs | $10,428 | $11,339 | $12,330 |
| Impact on return, per year | 0.72% | 0.72% | 0.72% |
TCOEX 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): 0.0070%
- Total broker commissions: $168K
- Bought from dealers (principal trades, not a cost): $26.4M
- Portfolio turnover (prospectus): 18%
- Securities lending: none during the year
TCOEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS SECURITIES | $43K | 27.87% |
| MORGAN STANLEY & CO, INC | $39K | 25.47% |
| JP MORGAN | $32K | 20.34% |
| PERSHING LLC | $12K | 7.73% |
| GOLDMAN, SACHS & CO. | $9K | 5.69% |
| MACQUARIE CAPITAL | $6K | 3.93% |
| CITIGROUP GLOBAL MARKETS | $4K | 2.38% |
| MERRILL LYNCH | $4K | 2.35% |
| CREDIT SUISSE FIRST BOSTON LLC. | $3K | 2.18% |
| INSTINET | $3K | 2.06% |
TCOEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BANK OF AMERICA | $26.3M | 99.65% |
| JP MORGAN | $93K | 0.35% |
| CREDIT SUISSE | $12 | 0.00% |
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.