Expense Ratio History

BTSAX expense ratio history

BTS Managed Income Fund, BTS Managed Income Fund Class A Shares

Fund company
Northern Trust
Type
Mutual fund

4.70%

In basis points
470 basis points
Yearly cost per $10,000
$470
Prospectus dated
30 April 2026, filed with the SEC; rounded to 0.01%
Last change
Raised from 4.30% on 30 April 2026

Fee over time

BTSAX expense ratio: 1.70% until 1 May 2020, then 14.07%; 14.07% until 30 Apr 2021, then 2.88%; 2.88% until 1 May 2022, then 2.15%; 2.15% until 1 May 2023, then 2.43%; 2.43% until 29 Apr 2024, then 2.68%; 2.68% until 30 Apr 2025, then 4.30%; 4.30% until 30 Apr 2026, then 4.70%; read at 4.70% on 30 Apr 2026.0.00%5.00%10.00%15.00%20.00%Mar 2018Aug 2019Jan 2021Jun 2022Nov 2023Apr 20251.70% before4.70% from 30 Apr 2026
BTSAX expense ratio: 1.70% until 1 May 2020, then 14.07%; 14.07% until 30 Apr 2021, then 2.88%; 2.88% until 1 May 2022, then 2.15%; 2.15% until 1 May 2023, then 2.43%; 2.43% until 29 Apr 2024, then 2.68%; 2.68% until 30 Apr 2025, then 4.30%; 4.30% until 30 Apr 2026, then 4.70%; read at 4.70% on 30 Apr 2026.0.00%5.00%10.00%15.00%20.00%Mar 2018Jan 2021Nov 20231.70% before4.70% 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
BTSAX (this page) BTS Managed Income Fund Class A Shares 4.70% 2.02% 30 Apr 2026
BTSCX BTS Managed Income Fund Class C Shares 5.45% 2.77% 30 Apr 2026
BTSIX BTS Managed Income Fund Class I Shares 4.45% 1.77% 30 Apr 2026
BTSRX BTS Managed Income Fund Class R Shares 4.95% 2.27% 30 Apr 2026

Every figure we've recorded

DateFeeWhat happened
30 Apr 2026 4.70% 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 4.70% Raised from 4.30% to 4.70%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2026-04-21
30 Apr 2025 4.30% 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 4.30% Raised from 2.68% to 4.30%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2025-04-28
29 Apr 2024 2.68% 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 2.68% Raised from 2.43% to 2.68%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2024-04-24
1 May 2023 2.43% 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 2.43% Raised from 2.15% to 2.43%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2023-04-26
1 May 2022 2.15% In the prospectusTotal annual fund operating expenses in the prospectus dated 2022-05-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 May 2022 2.15% Cut from 2.88% to 2.15%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2022-04-27
7 May 2021 2.88% In the prospectusTotal annual fund operating expenses in the prospectus dated 2021-05-07 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
30 Apr 2021 2.88% 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 2.88% Cut from 14.07% to 2.88%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2021-05-05
1 May 2020 14.07% 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 14.07% Raised from 1.70% to 14.07%Prospectus date; the new figure appears in this filingSource: Prospectus (form 497) filed with the SEC on 2020-11-17
1 May 2019 1.70% 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
5 Mar 2018 1.70% In the prospectusTotal annual fund operating expenses in the prospectus dated 2018-03-05 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497

What this fee costs

Change the amount, years or return. The estimate keeps the fee at 4.70% and the return steady each year, the same assumptions as the cost example in a fund's prospectus.

$4,857 in fees over 10 years

After fees, $10,000 grows to $10,184.

Fees paid on $10,000 at 5% a year
AfterFees paid
1 year$482
3 years$1,448
5 years$2,418
10 years$4,857

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 10 prospectuses for this share class since 2018. Each one is listed above with a link to the filing.

How we read fees

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