Expenses
Basis: Percent of net assets attributable to common shares (SEC N-2 fee table, Inline XBRL) · Form 424B1 · source filing. A management fee charged on managed assets (including leverage) is a larger share of common net assets than the headline rate suggests.
| Period | Form | Total | Net | Mgmt fee | Other | Interest | Waivers |
|---|---|---|---|---|---|---|---|
| Aug 13, 2026 | 424B1 | 4.08% | — | 2.00% | — | 0.00% | — |
| Aug 3, 2026 | N-2 | 4.18% | — | 2.00% | — | 0.00% | — |
Illustrative cost of $10,000
Using the latest total expense ratio of 4.08% on common net assets:
- $10,000 invested at market price ($19.24)
- buys 519.8 shares with NAV exposure of $12,448.02 → about $507.88 of annual expenses on that NAV.
- $10,000 of NAV exposure
- about $408.00 per year.
Expenses are charged on fund net assets, so a discount changes how much NAV a market dollar buys. Performance figures on this site already reflect fund expenses; do not deduct them again.
Leverage
Leverage amplifies both gains and losses and increases the volatility of NAV and market price. Financing costs (interest on borrowings, dividends on preferred shares) reduce distributable income and are included in the total expense ratio when the fund reports them that way. Instruments, fixed-versus-floating terms, reset dates and maturities are described in the notes to the financial statements. “No reported borrowing” does not rule out economic leverage from derivatives or structured instruments.
Where to verify
- Registration statement amendment (Form N-2/A) — N-2/A (Aug 3, 2026)
- Registration statement amendment (Form N-2/A) — N-2/A (Aug 3, 2026)
- Registration statement amendment (Form N-2/A) — N-2/A (Jul 22, 2026)
- Registration statement / prospectus (Form N-2) (Jun 30, 2026)
CEF Explorer research page for Robinhood Ventures Fund II. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.