USERX Fees and Costs — Usgi Gold and Precious Metals Fund, Investor Class
Data updated: 2026-08-20
The net expense ratio is 1.63%: a 0.90% management fee, a 0.25% 12b-1 fee plus 0.48% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $669K in broker commissions, 0.3861% of average net assets, and portfolio turnover was 76%.
USERX Fees and Expenses
Annual operating expenses and sales charges of USERX. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.48% |
| Gross expense ratio | 1.63% |
| Fee waiver | — |
| Net expense ratio | 1.63% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
USERX Costs Over Time
On $10,000 invested in USERX, assuming 5% a year before costs, total costs come to $1,236 over 5 years, cutting the return by 2.12% 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 1.63%) | $171 | $528 | $907 |
| Trading costs (broker commissions) | $41 | $125 | $215 |
| Lost growth on money paid in costs | $0 | $33 | $114 |
| Total costs | $212 | $686 | $1,236 |
| Value after costs | $10,288 | $10,890 | $11,527 |
| Impact on return, per year | 2.12% | 2.12% | 2.12% |
USERX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.3861%
- Total broker commissions: $669K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 76%
- Securities lending: none during the year
USERX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BANC OF AMERICA SECURITIES | $182K | 31.74% |
| CANACCORD CAPITAL CORPORATION | $98K | 17.07% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $58K | 10.16% |
| GOLDMAN SACHS & CO | $58K | 10.06% |
| UBS SECURITIES LLC | $45K | 7.81% |
| CIBC WORLD MARKETS CORP | $39K | 6.85% |
| COWEN AND COMPANY, LLC | $28K | 4.97% |
| BLOOMBERG TRADEBOOK LLC | $27K | 4.68% |
| RBC CAPITAL MARKETS, LLC | $22K | 3.80% |
| BMO CAPITAL MARKETS CORP. | $16K | 2.86% |
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.