THIDX Fees and Costs — Toews Hedged Oceana Fund
Data updated: 2026-03-31
The net expense ratio is 1.28% (1.68% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $17K in broker commissions, 0.0381% of average net assets, and portfolio turnover was 150%.
THIDX Fees and Expenses
Annual operating expenses and sales charges of THIDX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.66% |
| Gross expense ratio | 1.68% |
| Fee waiver | −0.40% |
| Net expense ratio | 1.28% |
| 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 |
THIDX Costs Over Time
On $10,000 invested in THIDX, assuming 5% a year before costs, total costs come to $819 over 5 years, cutting the return by 1.38% 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 1.28%) | $134 | $418 | $722 |
| Trading costs (broker commissions) | $4 | $12 | $22 |
| Lost growth on money paid in costs | $0 | $21 | $75 |
| Total costs | $138 | $452 | $819 |
| Value after costs | $10,362 | $11,124 | $11,944 |
| Impact on return, per year | 1.38% | 1.38% | 1.38% |
THIDX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0381%
- Total broker commissions: $17K
- Bought from dealers (principal trades, not a cost): $113.5M
- Portfolio turnover (prospectus): 150%
- Securities lending: none during the year
THIDX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| ED&F Man Capital Markets, Inc. | $8K | 45.77% |
| Maxim Group LLC | $7K | 39.24% |
| JP Morgan Chase | $1K | 8.52% |
| Mischler Financial Group, Inc. | $1K | 6.47% |
THIDX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Fifth Third Securities, INC. | $111.6M | 98.32% |
| E D & F Man Capital Markets Inc. | $1.9M | 1.68% |
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.