TOPTX Fees and Costs — Tortoise Energy Evolution Fund, A Class
Data updated: 2021-02-10
The net expense ratio is 1.35%: a 0.85% management fee, a 0.25% 12b-1 fee plus 1.31% other expenses, less a 1.06% fee waiver. This share class carries a maximum front-end sales load of 5.50%. In fiscal 2020 the fund paid $10K in broker commissions, 0.0931% of average net assets, and portfolio turnover was 124%.
TOPTX Fees and Expenses
Annual operating expenses and sales charges of TOPTX. Prospectus, as of March 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.31% |
| Gross expense ratio | 2.41% |
| Fee waiver | −1.06% |
| Net expense ratio | 1.35% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| 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 |
TOPTX Costs Over Time
On $10,000 invested in TOPTX, assuming 5% a year before costs, total costs come to $1,547 over 5 years, cutting the return by 2.68% 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 |
| Sales charges | $550 | $550 | $550 |
| Fund expenses (net expense ratio 1.35%) | $134 | $416 | $718 |
| Trading costs (broker commissions) | $9 | $29 | $50 |
| Lost growth on money paid in costs | $27 | $109 | $230 |
| Total costs | $721 | $1,103 | $1,547 |
| Value after costs | $9,779 | $10,473 | $11,215 |
| Impact on return, per year | 7.21% | 3.45% | 2.68% |
TOPTX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0931%
- Total broker commissions: $10K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 124%
- Securities lending: none during the year
TOPTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $4K | 43.44% |
| CITIGROUP GLOBAL MARKETS INC. | $2K | 21.94% |
| RBC CAPITAL MARKETS, LLC | $884 | 8.66% |
| WELLS FARGO SECURITIES, LLC | $681 | 6.67% |
| GOLDMAN SACHS & CO. LLC | $681 | 6.67% |
| PIPER JAFFRAY & CO. | $649 | 6.35% |
| CREDIT SUISSE SECURITIES (USA) LLC | $406 | 3.98% |
| BARCLAYS CAPITAL INC. | $92 | 0.90% |
| COWEN AND COMPANY, LLC | $79 | 0.77% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $63 | 0.62% |
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.