WAVLX Fees and Costs — Wavelength Fund
Data updated: 2026-09-25
The net expense ratio is 1.24% (1.57% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $28K in broker commissions, 0.0267% of average net assets, and portfolio turnover was 39%.
WAVLX Fees and Expenses
Annual operating expenses and sales charges of WAVLX. Prospectus, as of September 25, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.37% |
| Gross expense ratio | 1.57% |
| Fee waiver | −0.33% |
| Net expense ratio | 1.24% |
| 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 |
WAVLX Costs Over Time
On $10,000 invested in WAVLX, assuming 5% a year before costs, total costs come to $788 over 5 years, cutting the return by 1.33% 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 1.24%) | $130 | $405 | $701 |
| Trading costs (broker commissions) | $3 | $9 | $15 |
| Lost growth on money paid in costs | $0 | $21 | $72 |
| Total costs | $133 | $434 | $788 |
| Value after costs | $10,367 | $11,142 | $11,975 |
| Impact on return, per year | 1.33% | 1.33% | 1.33% |
WAVLX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0267%
- Total broker commissions: $28K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 39%
- Securities on loan, average value: $26.3M
- Net income from securities lending: $233K (0.225% of average net assets)
WAVLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET LLC | $19K | 70.07% |
| INTERACTIVE BROKERS | $8K | 29.93% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.