TORYX Fees and Costs — Torray Fund, The Torray Fund
Data updated: 2026-10-09
The net expense ratio is 0.95%: a 0.85% management fee plus 0.11% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $44K in broker commissions, 0.0134% of average net assets, and portfolio turnover was 57%.
TORYX Fees and Expenses
Annual operating expenses and sales charges of TORYX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | — |
| Other expenses | 0.11% |
| Gross expense ratio | 0.96% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.95% |
| 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 |
TORYX Costs Over Time
On $10,000 invested in TORYX, assuming 5% a year before costs, total costs come to $603 over 5 years, cutting the return by 1.01% 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 0.95%) | $100 | $311 | $540 |
| Trading costs (broker commissions) | $1 | $4 | $8 |
| Lost growth on money paid in costs | $0 | $16 | $55 |
| Total costs | $101 | $331 | $603 |
| Value after costs | $10,399 | $11,245 | $12,160 |
| Impact on return, per year | 1.01% | 1.01% | 1.01% |
TORYX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0134%
- Total broker commissions: $44K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 57%
- Securities lending: none during the year
TORYX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| STRATEGAS SECURITIES LLC | $14K | 30.67% |
| WILLIAM BLAIR & COMPANY L.L.C. | $11K | 25.56% |
| STIFEL NICOLAUS & CO. INC. | $9K | 21.23% |
| MORGAN STANLEY & CO. INC. | $8K | 18.75% |
| ISI GROUP INC. | $2K | 3.80% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.