WASOX Fees and Costs — Walden Small Cap Fund
Data updated: 2020-05-27
The net expense ratio is 1.00%: a 0.75% management fee plus 0.30% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $26K in broker commissions, 0.0252% of average net assets, and portfolio turnover was 22%.
WASOX Fees and Expenses
Annual operating expenses and sales charges of WASOX. Prospectus, as of January 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.30% |
| Gross expense ratio | 1.05% |
| Fee waiver | −0.05% |
| Net expense ratio | 1.00% |
| 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 |
WASOX Costs Over Time
On $10,000 invested in WASOX, assuming 5% a year before costs, total costs come to $641 over 5 years, cutting the return by 1.08% 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 1.00%) | $105 | $328 | $568 |
| Trading costs (broker commissions) | $3 | $8 | $14 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $108 | $352 | $641 |
| Value after costs | $10,392 | $11,224 | $12,122 |
| Impact on return, per year | 1.08% | 1.08% | 1.08% |
WASOX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0252%
- Total broker commissions: $26K
- Bought from dealers (principal trades, not a cost): $78
- Portfolio turnover (prospectus): 22%
- Securities lending: none during the year
WASOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET | $11K | 41.47% |
| COWEN AND COMPANY, LLC | $6K | 21.62% |
| FIS BROKERAGE & SECURITIES SERVICES LLC | $4K | 15.92% |
| VIRTU AMERICAS LLC | $2K | 7.55% |
| JONESTRADING INSTITUTIONAL SERVICES LLC | $1K | 5.64% |
| SANFORD C. BERNSTEIN & CO., LLC | $1K | 4.22% |
| ROBERT W. BAIRD & CO. | $542 | 2.06% |
| MORGAN STANLEY & CO. LLC | $172 | 0.65% |
| PIPER JAFFRAY & CO. | $136 | 0.52% |
| WEEDEN & CO. | $91 | 0.35% |
WASOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS INC. | $78 | 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.