TRDVX Fees and Costs — Trend Aggregation Dividend and Income Fund, Institutional Shares
Data updated: 2020-07-13
The net expense ratio is 1.43%. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $358K in broker commissions, 0.5718% of average net assets, and portfolio turnover was 3207%.
TRDVX Fees and Expenses
Annual operating expenses and sales charges of TRDVX. Prospectus, as of August 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.35% |
| Gross expense ratio | 1.43% |
| Fee waiver | — |
| Net expense ratio | 1.43% |
| 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 |
TRDVX Costs Over Time
On $10,000 invested in TRDVX, assuming 5% a year before costs, total costs come to $1,227 over 5 years, cutting the return by 2.10% 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 1.43%) | $150 | $464 | $796 |
| Trading costs (broker commissions) | $60 | $185 | $318 |
| Lost growth on money paid in costs | $0 | $32 | $114 |
| Total costs | $210 | $681 | $1,227 |
| Value after costs | $10,290 | $10,895 | $11,536 |
| Impact on return, per year | 2.10% | 2.10% | 2.10% |
TRDVX 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): 0.5718%
- Total broker commissions: $358K
- Bought from dealers (principal trades, not a cost): $2.7M
- Portfolio turnover (prospectus): 3207%
- Securities lending: none during the year
TRDVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| WALLACHBETH | $59K | 16.46% |
| CAPITAL INSTITUTIONAL SERVICES | $46K | 12.90% |
| WEEDEN & CO. | $45K | 12.51% |
| JPMORGAN CHASE | $37K | 10.28% |
| JONES TRADING | $34K | 9.57% |
| RW Pressprich & CO | $32K | 9.02% |
| WEDBUSH SECURITIES | $29K | 8.04% |
| TOURMALINE PARTNERS LLC | $26K | 7.39% |
| TRADESTATION SECURITIES | $26K | 7.30% |
| CANACCORD GENUITY LLC | $23K | 6.54% |
TRDVX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WALL STREET ACCESS | $2.1M | 77.66% |
| JEFFERIES GROUP LLC | $599K | 22.34% |
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.