ADPV Fees and Costs — Adaptiv Select ETF
Data updated: 2026-09-28
The net expense ratio is 1.00%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $250K in broker commissions, 0.2026% of average net assets, and portfolio turnover was 299%.
ADPV Fees and Expenses
Annual operating expenses and sales charges of ADPV. Prospectus, as of February 28, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 1.00% |
| Fee waiver | — |
| Net expense ratio | 1.00% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
ADPV Costs Over Time
On $10,000 invested in ADPV, assuming 5% a year before costs, total costs come to $749 over 5 years, cutting the return by 1.26% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.00%) | $105 | $327 | $566 |
| Trading costs (broker commissions) | $21 | $66 | $115 |
| Lost growth on money paid in costs | $0 | $19 | $69 |
| Total costs | $126 | $413 | $749 |
| Value after costs | $10,374 | $11,164 | $12,014 |
| Impact on return, per year | 1.26% | 1.26% | 1.26% |
ADPV Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.2026%
- Total broker commissions: $250K
- Bought from dealers (principal trades, not a cost): $307.9M
- Portfolio turnover (prospectus): 299%
- Securities lending: none during the year
ADPV Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch Pierce Fenner & Smith Inc. | $229K | 91.75% |
| Goldman Sachs & Co. LLC | $21K | 8.25% |
ADPV Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BMO Capital Markets Corp. | $268.4M | 87.19% |
| Barclays Capital Inc. | $39.4M | 12.81% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.