# NAA Opportunity Institutional (SAOIX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/saoix for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: — · Asset class: Equity - Strategy: Actively Managed · Inception: 2008-11-10 Under normal market conditions, the fund pursues its objective by investing in long and short positions of domestic equity and equity-related securities. The fund will ordinarily hold simultaneous long and short positions in equity securities or securities markets that provide exposure up to a level equal to 150% of the fund’s net assets for both the long and short positions. ## Key Facts | Metric | Value | |---|---| | Price | $37.24 | | Expense Ratio | 1.49% | | AUM (All Share Classes) | $41.8M | | NAV | $37.24 (2026-10-30 close) | | Holdings Count | — | | Distribution Yield (TTM) | 0.79% | | Annual Distribution (TTM) | $0.30 /share | | Distribution Frequency | Annual | | 52-Week Range | $29.77 – $37.90 | | Beta | 0.13 | ## Latest Distribution - Amount: $0.2952 /share - Ex-date: 2025-12-26 - Pay date: 2025-12-29 ## Frequently Asked Questions ### What does SAOIX invest in? Under normal market conditions, the fund pursues its objective by investing in long and short positions of domestic equity and equity-related securities. The fund will ordinarily hold simultaneous long and short positions in equity securities or securities markets that provide exposure up to a level equal to 150% of the fund’s net assets for both the long and short positions. ### What is the expense ratio of SAOIX? NAA Opportunity Institutional (SAOIX) charges an expense ratio of 1.49%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is SAOIX? NAA Opportunity Institutional (SAOIX) is one share class of a fund that manages $41.8M across all of its share classes (SAOAX, SAOCX report the same total). Our data does not carry the assets of this share class alone. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is SAOIX actively managed or an index fund? SAOIX is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (SAOIX's is 1.49%) in exchange for the discretion to over- or under-weight positions. ### When was SAOIX launched? NAA Opportunity Institutional (SAOIX) launched in November 2008 and is managed by the fund issuer. ### How has SAOIX performed? SAOIX's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does SAOIX pay a dividend? NAA Opportunity Institutional (SAOIX) currently distributes little or no income. Trailing-twelve-month yield is 0.79%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does SAOIX pay dividends? NAA Opportunity Institutional pays dividends Annual. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is SAOIX's dividend yield? SAOIX's trailing-twelve-month yield is 0.79%, calculated from the sum of dividends over the past year divided by the current price. ### When is SAOIX's next ex-dividend date? The most recently announced ex-dividend date for SAOIX was 2025-12-26. The next ex-date typically follows Annual; once announced it appears at the top of the dividend history table on this page. ### How much will SAOIX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 1.49% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does SAOIX charge its expense ratio? The expense ratio is deducted in tiny daily slices from SAOIX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does SAOIX cost more than a fund like VOO? SAOIX is actively managed (current expense ratio 1.49%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether SAOIX's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to SAOIX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as SAOIX (1.49%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/saoix - Distribution history: https://www.dividenddata.com/funds/saoix/dividend - Holdings & diversification: https://www.dividenddata.com/funds/saoix/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/saoix/expenses - Peer comparison: https://www.dividenddata.com/funds/saoix/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.