Expense Ratio History

BTFAX expense ratio history

BTS Tactical Fixed Income Fund, BTS Tactical Fixed Income Fund Class A Shares

Fund company
Northern Trust
Type
Mutual fund

2.08%

In basis points
208 basis points
Yearly cost per $10,000
$208
Prospectus dated
30 April 2026, filed with the SEC; rounded to 0.01%
Last change
Cut from 2.09% on 30 April 2026

Fee over time

BTFAX expense ratio: 2.05% until 1 May 2014, then 2.29%; 2.29% until 30 Apr 2015, then 2.08%; 2.08% until 1 May 2016, then 2.18%; 2.18% until 1 May 2017, then 1.91%; 1.91% until 1 May 2018, then 1.80%; 1.80% until 1 May 2019, then 1.77%; 1.77% until 1 May 2020, then 1.91%; 1.91% until 30 Apr 2021, then 1.86%; 1.86% until 1 May 2023, then 1.90%; 1.90% until 29 Apr 2024, then 1.93%; 1.93% until 30 Apr 2025, then 2.09%; 2.09% until 30 Apr 2026, then 2.08%; read at 2.08% on 30 Apr 2026.0.00%1.00%2.00%3.00%May 2013Aug 2015Nov 2017Feb 2020May 2022Aug 20242.05% before2.08% from 30 Apr 2026
BTFAX expense ratio: 2.05% until 1 May 2014, then 2.29%; 2.29% until 30 Apr 2015, then 2.08%; 2.08% until 1 May 2016, then 2.18%; 2.18% until 1 May 2017, then 1.91%; 1.91% until 1 May 2018, then 1.80%; 1.80% until 1 May 2019, then 1.77%; 1.77% until 1 May 2020, then 1.91%; 1.91% until 30 Apr 2021, then 1.86%; 1.86% until 1 May 2023, then 1.90%; 1.90% until 29 Apr 2024, then 1.93%; 1.93% until 30 Apr 2025, then 2.09%; 2.09% until 30 Apr 2026, then 2.08%; read at 2.08% on 30 Apr 2026.0.00%1.00%2.00%3.00%May 2013Oct 2017Mar 20222.05% before2.08% from 30 Apr 2026
Solid line: the fee in effect after each recorded change. Dashed: the fee before it. Dots: prospectuses filed with the SEC and dates we read the fee from a source.

Share classes

The same fund is sold as 4 share classes, each with its own fee. Figures are from each class's latest prospectus in SEC filings, rounded to 0.01%.

TickerShare classFeeAfter waiversProspectus dated
BTFAX (this page) BTS Tactical Fixed Income Fund Class A Shares 2.08% — 30 Apr 2026
BTFCX BTS Tactical Fixed Income Fund Class C Shares 2.83% — 30 Apr 2026
BTFIX BTS Tactical Fixed Income Fund Class I Shares 1.83% — 30 Apr 2026
BTFRX BTS Tactical Fixed Income Fund Class R Shares 2.33% — 30 Apr 2026

Every figure we've recorded

DateFeeWhat happened
30 Apr 2026 2.08% In the prospectusTotal annual fund operating expenses in the prospectus dated 2026-04-30 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
30 Apr 2026 2.08% Cut from 2.09% to 2.08%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2026-04-21
30 Apr 2025 2.09% In the prospectusTotal annual fund operating expenses in the prospectus dated 2025-04-30 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
30 Apr 2025 2.09% Raised from 1.93% to 2.09%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2025-04-28
29 Apr 2024 1.93% In the prospectusTotal annual fund operating expenses in the prospectus dated 2024-04-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Apr 2024 1.93% Raised from 1.90% to 1.93%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2024-04-24
1 May 2023 1.90% In the prospectusTotal annual fund operating expenses in the prospectus dated 2023-05-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 May 2023 1.90% Raised from 1.86% to 1.90%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2023-04-26
30 Apr 2021 1.86% In the prospectusTotal annual fund operating expenses in the prospectus dated 2021-04-30 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
30 Apr 2021 1.86% Cut from 1.91% to 1.86%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2022-04-27
1 May 2020 1.91% In the prospectusTotal annual fund operating expenses in the prospectus dated 2020-05-01 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
1 May 2020 1.91% Raised from 1.77% to 1.91%Prospectus date; the new figure appears in this filingSource: Prospectus (form 497) filed with the SEC on 2020-11-17
1 May 2019 1.77% In the prospectusTotal annual fund operating expenses in the prospectus dated 2019-05-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 May 2019 1.77% Cut from 1.80% to 1.77%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2019-04-24
1 May 2018 1.80% In the prospectusTotal annual fund operating expenses in the prospectus dated 2018-05-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 May 2018 1.80% Cut from 1.91% to 1.80%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2018-05-07
1 May 2017 1.91% In the prospectusTotal annual fund operating expenses in the prospectus dated 2017-05-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 May 2017 1.91% Cut from 2.18% to 1.91%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2017-05-10
1 May 2016 2.18% In the prospectusTotal annual fund operating expenses in the prospectus dated 2016-05-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 May 2016 2.18% Raised from 2.08% to 2.18%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2016-05-11
30 Apr 2015 2.08% In the prospectusTotal annual fund operating expenses in the prospectus dated 2015-04-30 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
30 Apr 2015 2.08% Cut from 2.29% to 2.08%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2015-05-20
1 May 2014 2.29% In the prospectusTotal annual fund operating expenses in the prospectus dated 2014-05-01 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
1 May 2014 2.29% Raised from 2.05% to 2.29%Prospectus date; the new figure appears in this filingSource: Prospectus (form 497) filed with the SEC on 2014-05-29
30 May 2013 2.05% In the prospectusTotal annual fund operating expenses in the prospectus dated 2013-05-30 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS

What this fee costs

Change the amount, years or return. The estimate keeps the fee at 2.08% and the return steady each year, the same assumptions as the cost example in a fund's prospectus.

$2,429 in fees over 10 years

After fees, $10,000 grows to $13,268.

Fees paid on $10,000 at 5% a year
AfterFees paid
1 year$213
3 years$658
5 years$1,129
10 years$2,429

How we read this figure

The figure is the total annual fund operating expenses line of the fee table in the fund's prospectus, as tagged in the fund company's filing with the SEC. The SEC publishes these figures rounded to four decimal places, so 0.015% appears as 0.02%. The fund company's own page may show a more precise number.

SEC filings give 13 prospectuses for this share class since 2013. Each one is listed above with a link to the filing.

How we read fees

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