TCOFX Fees and Costs — Tactical Offensive Core Fixed Income Fund, Share Class
Data updated: 2022-03-29
The net expense ratio is 0.63%: a 0.15% management fee plus 0.48% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 76%.
TCOFX Fees and Expenses
Annual operating expenses and sales charges of TCOFX. Prospectus, as of July 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.15% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.48% |
| Gross expense ratio | 0.63% |
| Fee waiver | — |
| Net expense ratio | 0.63% |
| 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 |
TCOFX Costs Over Time
On $10,000 invested in TCOFX, assuming 5% a year before costs, total costs come to $397 over 5 years, cutting the return by 0.66% 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 0.63%) | $66 | $207 | $361 |
| Lost growth on money paid in costs | $0 | $10 | $36 |
| Total costs | $66 | $217 | $397 |
| Value after costs | $10,434 | $11,359 | $12,366 |
| Impact on return, per year | 0.66% | 0.66% | 0.66% |
TCOFX 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): $2.1B
- Portfolio turnover (prospectus): 76%
- Securities lending: none during the year
TCOFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN, SACHS & CO. | $601.7M | 32.56% |
| MORGAN STANLEY & CO, INC | $400.0M | 21.64% |
| BANK OF AMERICA | $164.8M | 8.92% |
| BARCLAYS CAPITAL INC. | $164.1M | 8.88% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $109.9M | 5.95% |
| JP MORGAN | $106.4M | 5.76% |
| CREDIT SUISSE - FIRST BOSTON | $102.1M | 5.53% |
| CITIGROUP | $83.2M | 4.50% |
| HSBC | $58.6M | 3.17% |
| WELLS FARGO SECURITIES | $57.2M | 3.09% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.