TUIFX Fees and Costs — Toews Unconstrained Income Fund
Data updated: 2026-09-28
The net expense ratio is 1.45% (1.67% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $15K in broker commissions, 0.0331% of average net assets, and portfolio turnover was 231%.
TUIFX Fees and Expenses
Annual operating expenses and sales charges of TUIFX. Prospectus, as of August 26, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.47% |
| Gross expense ratio | 1.67% |
| Fee waiver | −0.22% |
| Net expense ratio | 1.45% |
| 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 | Yes |
| Waived fees subject to recoupment | Yes |
TUIFX Costs Over Time
On $10,000 invested in TUIFX, assuming 5% a year before costs, total costs come to $919 over 5 years, cutting the return by 1.56% 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 1.45%) | $152 | $473 | $816 |
| Trading costs (broker commissions) | $3 | $11 | $19 |
| Lost growth on money paid in costs | $0 | $24 | $85 |
| Total costs | $156 | $507 | $919 |
| Value after costs | $10,344 | $11,069 | $11,844 |
| Impact on return, per year | 1.56% | 1.56% | 1.56% |
TUIFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0331%
- Total broker commissions: $15K
- Bought from dealers (principal trades, not a cost): $74.2M
- Portfolio turnover (prospectus): 231%
- Securities on loan, average value: $5.6M
- Net income from securities lending: $16K (0.034% of average net assets)
TUIFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Mischler Financial Group, Inc. | $7K | 46.42% |
| Maxim Group LLC | $7K | 42.25% |
| JP Morgan Chase | $2K | 11.34% |
TUIFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Fifth Third Securities, INC. | $74.2M | 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.