VALUX Fees and Costs — Al Frank Fund, Investor Class
Data updated: 2026-08-25
The net expense ratio is 1.49%: a 1.00% management fee, a 0.25% 12b-1 fee plus 0.43% other expenses, less a 0.19% fee waiver. This share class carries a redemption fee of 2.00%. In fiscal 2025 the fund paid $257 in broker commissions, 0.0004% of average net assets, and portfolio turnover was 5%.
VALUX Fees and Expenses
Annual operating expenses and sales charges of VALUX. Prospectus, as of April 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.43% |
| Gross expense ratio | 1.68% |
| Fee waiver | −0.19% |
| Net expense ratio | 1.49% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
VALUX Costs Over Time
On $10,000 invested in VALUX, assuming 5% a year before costs, total costs come to $923 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 1.49%) | $156 | $486 | $838 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $24 | $85 |
| Total costs | $156 | $510 | $923 |
| Value after costs | $10,344 | $11,066 | $11,840 |
| Impact on return, per year | 1.56% | 1.56% | 1.56% |
VALUX 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): 0.0004%
- Total broker commissions: $257
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 5%
- Securities lending: none during the year
VALUX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Charles Schwab | $228 | 88.72% |
| US Bancorp | $29 | 11.28% |
Al Frank Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VALAX | Advisor Class | 1.25% | — |
| VALUX | Investor Class | 1.49% | — |
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.