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For the waiver calculation, $150,000,000 falls in the first tier with a Percent Rate of 0.001 (150,000,000 x .001 / 365 = $410.96), another $150,000,000 falls in the second tier with a Percent Rate of 0.0003 (150,000,000 x .0003 / 365 = $123.29) and the remaining $50,000,000 falls in the third tier with a Percent Rate of 0.000275 (50,000,000 x .000275 / 365 = $37.67) for an expense cap of $571.92 ($410.96 + $123.29 + $37.67). The variable expense amount of $1,383.56 is greater than the expense cap amount of $571.92 so a waiver is posted for the difference of $811.64.
Tier ID | Lower Bound | Upper Bound | Percent Rate | Total Net Assets | Tier Amount | Days in Year |
|---|---|---|---|---|---|---|
EXPENSE_TIER | - | 200,000,000.00 | 0.002000000 | 200,000,000.00 | 1,095.89 | 365 |
EXPENSE_TIER | 200,000,000.01 | 400,000,000.00 | 0.000700000 | 150,000,000.00 | 287.67 | |
EXPENSE_TIER | 400,000,000.01 | 600,000,000.00 | 0.000275000 | |||
EXPENSE_TIER | 600,000,000.01 | 1,000,000,000.00 | 0.000200000 | |||
EXPENSE_TIER | 1,000,000,000.01 | 999,999,999,999.99 | 0.000100000 | |||
350,000,000.00 | 1,383.56 | Expense Amount | ||||
WAIVER_TIER | - | 150,000,000.00 | 0.001000000 | 150,000,000.00 | 410.96 | |
WAIVER_TIER | 150,000,000.01 | 300,000,000.00 | 0.000300000 | 150,000,000.00 | 123.29 | |
WAIVER_TIER | 300,000,000.01 | 600,000,000.00 | 0.000275000 | 50,000,000.00 | 37.67 | |
WAIVER_TIER | 600,000,000.01 | 999,999,999.99 | 0.000100000 | |||
350,000,000.00 | 571.92 | Expense Cap | ||||
811.64 | Waiver Amount |