TRAGX Fees and Costs — Trend Aggregation Growth Fund, Institutional Shares
Data updated: 2020-07-13
The net expense ratio is 1.54%. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $568K in broker commissions, 0.8424% of average net assets, and portfolio turnover was 3634%.
TRAGX Fees and Expenses
Annual operating expenses and sales charges of TRAGX. Prospectus, as of August 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.32% |
| Gross expense ratio | 1.54% |
| Fee waiver | — |
| Net expense ratio | 1.54% |
| 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 | No |
TRAGX Costs Over Time
On $10,000 invested in TRAGX, assuming 5% a year before costs, total costs come to $1,450 over 5 years, cutting the return by 2.50% 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 1.54%) | $162 | $497 | $850 |
| Trading costs (broker commissions) | $88 | $272 | $465 |
| Lost growth on money paid in costs | $0 | $38 | $135 |
| Total costs | $250 | $808 | $1,450 |
| Value after costs | $10,250 | $10,768 | $11,313 |
| Impact on return, per year | 2.50% | 2.50% | 2.50% |
TRAGX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.8424%
- Total broker commissions: $568K
- Bought from dealers (principal trades, not a cost): $14.1M
- Portfolio turnover (prospectus): 3634%
- Securities lending: none during the year
TRAGX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| TRADESTATION | $114K | 20.03% |
| WALLACHBETH | $92K | 16.28% |
| CAPITAL INSTITUTIONAL SERVICES | $92K | 16.20% |
| JONES TRADING | $63K | 11.03% |
| NEEDHAM AND CO LLC | $50K | 8.86% |
| WEEDEN & CO.L.P. | $48K | 8.44% |
| TOURMALINE PARTNERS LLC | $36K | 6.41% |
| CANACCORD GENUITY LLC | $25K | 4.36% |
| JPMORGAN CHASE | $24K | 4.29% |
| RW Pressprich & CO | $23K | 4.08% |
TRAGX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WALL STREET ACCESS | $13.0M | 92.20% |
| JEFFERIES GROUP LLC | $611K | 4.32% |
| NEEDHAM AND CO LLC | $330K | 2.33% |
| CITIGROUP | $76K | 0.54% |
| BTIG LLC | $62K | 0.44% |
| WEEDEN & CO.L.P. | $24K | 0.17% |
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.