Hedge Fund Fee Calculator
See exactly what a 2/20 (or any) fee structure costs an LP over time.
Make every number real
Link 100+ exchanges and 20+ chains, read-only. Nyx never trades or withdraws.
Live NAV, P&L, exposure, drawdown and risk pull straight from your real positions.
AI writes the commentary from your data — edit any section or regenerate, then send to LPs.
Questions, answered
What is a high-water mark?
A high-water mark means the manager can only charge a performance fee on gains above the highest NAV the fund has previously reached — not on gains that merely recover a prior loss.
Does crystallization frequency (annual vs. quarterly) change the total fees paid?
Yes, generally. On a smooth positive return path, quarterly crystallization tends to lock in slightly more in total fees than annual, because gains are fee-assessed more often. This calculator shows the delta for your inputs.
Is this calculator giving me investment advice?
No. Figures are illustrative estimates computed from your inputs. This is not investment, legal, tax, or accounting advice.
What is a hurdle rate?
A hurdle rate is a minimum annual return the fund must clear before any performance fee accrues at all — it works alongside, not instead of, a high-water mark.
Your next LP report,
on autopilot.
14-day free trial · No card required · $999/month after