Computes a fund's gross expense ratio, net expense ratio, and Total Expense Ratio (TER) from supplied gross expense components (flat amounts or accruals, using the same accrual conventions as Recompute Fund NAV) and average net assets, applying any declared fee waivers or caps strictly in a declared order, using fixed-point money math throughout (no float accumulation). Waiver ordering is the substance: the order in which a fixed-dollar cap, a percent-of-remaining reimbursement, and a rate cap apply changes the net expense ratio, so the order is a required declared input, never a house convention, and every waiver's running-balance effect is returned for audit. Third entry of the Funds/NAV family, alongside Recompute Fund NAV and the forthcoming NAV-error materiality tester.
Fixed-Point Money MathWaiver Order Is a Declared InputNot a Compliance Determination
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What this does NOT prove
Every expense component, average-net-assets figure, and waiver term here is supplied by you and merely asserted: this tool performs zero fund-administrator or market-data lookups (zero-egress, no network calls of any kind). It recomputes the arithmetic over your declared inputs, applying waivers strictly in your declared order, and attests that computation ran correctly. This is never an opinion on whether a fund's reported expenses are accurate, and never a compliance determination. 40-Act/UCITS citations below are informative context only.
Fund & Period
Average Net Assets, Decimal Places & Rounding
Gross Expense Components (JSON array: flat `amount`, or accrual via `principal`/`annual_rate`/`days`/`day_count_convention`)
Waivers (JSON array: each MUST declare `order`; `method` is fixed_amount / percent_of_remaining / cap_to_rate)
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Gross Expense Ratio
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Net Expense Ratio
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Total Expense Ratio
Component breakdown
Gross expense components
Description
Day-count convention
Amount
Waivers applied, in declared order (running balance)
Order
Description
Method
Remaining Before
Reduction
Remaining After
What was NOT proven
Compliance Flags
Provenance
Fixed-point (BigInt) money math throughout: every value is parsed from its decimal string representation, never via floating multiplication, so there is no float-accumulation error anywhere in the arithmetic path. Waivers are applied strictly in ascending declared `order`; the running remaining-expense balance before and after each waiver is included so the order-sensitivity of the result is auditable line-by-line.
⚠ DECISION-SUPPORT DRAFT. Not an opinion on expense accuracy, not a compliance determination. Expense/waiver inputs are supplied and asserted only.