TVRIX Fees and Costs — Guggenheim Directional Allocation Fund, Institutional Class
Data updated: 2024-12-13
The net expense ratio is 1.08%: a 0.95% management fee plus 0.27% other expenses, less a 0.14% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $38K in broker commissions, 0.0169% of average net assets, and portfolio turnover was 130%.
TVRIX Fees and Expenses
Annual operating expenses and sales charges of TVRIX. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.27% |
| Gross expense ratio | 1.22% |
| Fee waiver | −0.14% |
| Net expense ratio | 1.08% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
TVRIX Costs Over Time
On $10,000 invested in TVRIX, assuming 5% a year before costs, total costs come to $685 over 5 years, cutting the return by 1.15% 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 1.08%) | $113 | $353 | $612 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $115 | $377 | $685 |
| Value after costs | $10,385 | $11,199 | $12,078 |
| Impact on return, per year | 1.15% | 1.15% | 1.15% |
TVRIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0169%
- Total broker commissions: $38K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 130%
- Securities lending: none during the year
TVRIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $22K | 58.32% |
| WILLIAM BLAIR | $12K | 31.81% |
| Morgan Stanley & Co. LLC | $3K | 8.93% |
| BLOOMBERG TRADEBOOK LLC | $345 | 0.92% |
| GOLDMAN SACHS & CO. LLC | $10 | 0.03% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.