TFAUX Fees and Costs — Tactical Moderate Allocation Fund, Class I
Data updated: 2021-08-26
The net expense ratio is 2.12% (2.44% before fee waivers). There are no sales loads or redemption fees. In fiscal 2020 the fund paid $136K in broker commissions, 0.3048% of average net assets, and portfolio turnover was 1309%.
TFAUX Fees and Expenses
Annual operating expenses and sales charges of TFAUX. Prospectus, as of April 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 1.30% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.97% |
| Gross expense ratio | 2.44% |
| Fee waiver | −0.32% |
| Net expense ratio | 2.12% |
| 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 |
TFAUX Costs Over Time
On $10,000 invested in TFAUX, assuming 5% a year before costs, total costs come to $1,474 over 5 years, cutting the return by 2.55% 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 2.12%) | $223 | $684 | $1,169 |
| Trading costs (broker commissions) | $32 | $98 | $168 |
| Lost growth on money paid in costs | $0 | $39 | $137 |
| Total costs | $255 | $822 | $1,474 |
| Value after costs | $10,245 | $10,754 | $11,289 |
| Impact on return, per year | 2.55% | 2.55% | 2.55% |
TFAUX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.3048%
- Total broker commissions: $136K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 1309%
- Securities lending: none during the year
TFAUX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| WallachBeth Capital, LLC | $25K | 21.13% |
| CAPITAL INSTITUTIONAL SERVICES, INC. | $16K | 13.88% |
| JONESTRADING | $14K | 12.16% |
| PIPER SANDLER & CO. | $13K | 11.23% |
| Tradestation Securities, Inc. | $10K | 8.77% |
| Interactive Brokers, LLC | $10K | 8.13% |
| Wall Street Access | $8K | 6.86% |
| Mischler Financial Group, Inc. | $8K | 6.78% |
| BTIG, LLC | $7K | 5.81% |
| NEEDHAM & COMPANY, LLC | $6K | 5.25% |
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.