USAF Fees and Costs — Atlas America Fund
Data updated: 2026-09-11
The net expense ratio is 0.89%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $2K in broker commissions, 0.0133% of average net assets, and portfolio turnover was 67%.
USAF Fees and Expenses
Annual operating expenses and sales charges of USAF. Prospectus, as of October 27, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.89% |
| Fee waiver | — |
| Net expense ratio | 0.89% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
USAF Costs Over Time
On $10,000 invested in USAF, assuming 5% a year before costs, total costs come to $566 over 5 years, cutting the return by 0.95% 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 0.89%) | $93 | $292 | $507 |
| Trading costs (broker commissions) | $1 | $4 | $8 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $95 | $311 | $566 |
| Value after costs | $10,405 | $11,265 | $12,197 |
| Impact on return, per year | 0.95% | 0.95% | 0.95% |
USAF Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0133%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $10.6M
- Portfolio turnover (prospectus): 67%
- Securities lending: none during the year
USAF Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INTERACTIVE BROKERS, LLC | $2K | 96.65% |
| GOLDMAN SACHS & CO. LLC | $73 | 3.06% |
| ATLAS STRATEGIC ADVISORS, LLC | $7 | 0.29% |
USAF Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $6.8M | 64.38% |
| BOFA SECURITIES, INC. | $2.1M | 20.21% |
| VIRTU AMERICAS LLC | $1.6M | 15.17% |
| RITHM CAPITAL CORP. | $7K | 0.07% |
| VERIS RESIDENTIAL INC | $7K | 0.06% |
| KENNEDY-WILSON HOLDINGS, INC | $6K | 0.06% |
| PLYMOUTH INDUSTRIAL REIT | $5K | 0.05% |
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.