WAYEX Fees and Costs — Waycross Managed Risk Equity Fund
Data updated: 2026-07-30
The net expense ratio is 2.25%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $50K in broker commissions, 0.0457% of average net assets, and portfolio turnover was 42%.
WAYEX Fees and Expenses
Annual operating expenses and sales charges of WAYEX. Prospectus, as of June 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.98% |
| Gross expense ratio | 2.25% |
| Fee waiver | — |
| Net expense ratio | 2.25% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
WAYEX Costs Over Time
On $10,000 invested in WAYEX, assuming 5% a year before costs, total costs come to $1,399 over 5 years, cutting the return by 2.41% 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 2.25%) | $236 | $727 | $1,244 |
| Trading costs (broker commissions) | $5 | $15 | $25 |
| Lost growth on money paid in costs | $0 | $37 | $130 |
| Total costs | $241 | $779 | $1,399 |
| Value after costs | $10,259 | $10,797 | $11,364 |
| Impact on return, per year | 2.41% | 2.41% | 2.41% |
WAYEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0457%
- Total broker commissions: $50K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 42%
- Securities lending: none during the year
WAYEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $11K | 21.79% |
| WELLS FARGO SECURITIES, LLC | $10K | 20.88% |
| STIFEL, NICOLAUS & CO., INC. | $8K | 16.45% |
| PIPER SANDLER & CO. | $7K | 13.31% |
| J.P. MORGAN SECURITIES LLC | $6K | 12.53% |
| GOLDMAN SACHS GROUP, INC. | $4K | 8.21% |
| CAPITAL ONE SOUTHCOAST, INC. | $3K | 6.84% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.