TOWFX Fees and Costs — Towpath Focus Fund
Data updated: 2026-07-30
The net expense ratio is 0.93%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $4K in broker commissions, 0.0086% of average net assets.
TOWFX Fees and Expenses
Annual operating expenses and sales charges of TOWFX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.21% |
| Gross expense ratio | 0.93% |
| Fee waiver | — |
| Net expense ratio | 0.93% |
| 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 | No |
| Waived fees subject to recoupment | Yes |
TOWFX Costs Over Time
On $10,000 invested in TOWFX, assuming 5% a year before costs, total costs come to $588 over 5 years, cutting the return by 0.99% 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 0.93%) | $98 | $305 | $529 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $15 | $54 |
| Total costs | $99 | $323 | $588 |
| Value after costs | $10,401 | $11,253 | $12,175 |
| Impact on return, per year | 0.99% | 0.99% | 0.99% |
TOWFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0086%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
TOWFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Edward Jones | $4K | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.