TFREX Fees and Costs — Terra Firma US Concentrated Realty Equity Fund, Open Class
Data updated: 2025-03-13
The net expense ratio is 1.25%: a 0.75% management fee, a 0.25% 12b-1 fee plus 1.54% other expenses, less a 1.29% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $1K in broker commissions, 0.0051% of average net assets, and portfolio turnover was 58%.
TFREX Fees and Expenses
Annual operating expenses and sales charges of TFREX. Prospectus, as of April 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.54% |
| Gross expense ratio | 2.54% |
| Fee waiver | −1.29% |
| Net expense ratio | 1.25% |
| 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 | Yes |
TFREX Costs Over Time
On $10,000 invested in TFREX, assuming 5% a year before costs, total costs come to $781 over 5 years, cutting the return by 1.32% 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 1.25%) | $131 | $408 | $706 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $20 | $72 |
| Total costs | $132 | $430 | $781 |
| Value after costs | $10,368 | $11,146 | $11,982 |
| Impact on return, per year | 1.32% | 1.32% | 1.32% |
TFREX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0051%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 58%
- Securities lending: none during the year
TFREX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Interactive Brokers LLC | $1K | 100.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.