AFK Fees and Costs — VanEck Africa Index ETF
Data updated: 2026-08-26
The net expense ratio is 0.76%: a 0.50% management fee plus 0.26% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $105K in broker commissions, 0.1679% of average net assets, and portfolio turnover was 36%.
AFK Fees and Expenses
Annual operating expenses and sales charges of AFK. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.26% |
| Gross expense ratio | 0.76% |
| Fee waiver | — |
| Net expense ratio | 0.76% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
AFK Costs Over Time
On $10,000 invested in AFK, assuming 5% a year before costs, total costs come to $581 over 5 years, cutting the return by 0.97% 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 0.76%) | $80 | $249 | $432 |
| Trading costs (broker commissions) | $18 | $55 | $96 |
| Lost growth on money paid in costs | $0 | $15 | $53 |
| Total costs | $97 | $319 | $581 |
| Value after costs | $10,403 | $11,257 | $12,182 |
| Impact on return, per year | 0.97% | 0.97% | 0.97% |
AFK Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1679%
- Total broker commissions: $105K
- Bought from dealers (principal trades, not a cost): $29.7M
- Portfolio turnover (prospectus): 36%
- Securities on loan, average value: $5.8M
- Net income from securities lending: $31K (0.050% of average net assets)
AFK Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Nigerian Exchange Group PLC | $27K | 25.35% |
| Equity Bank Bahamas Limited | $16K | 15.58% |
| J.P. Morgan Securities LLC | $16K | 15.26% |
| BofA Securities, Inc. | $15K | 14.39% |
| Citigroup Global Markets Inc. | $12K | 11.62% |
| Goldman Sachs & Co. LLC | $12K | 11.08% |
| Morgan Stanley & Co. LLC | $6K | 6.03% |
| UBS Securities LLC | $719 | 0.69% |
AFK Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $15.7M | 52.80% |
| J.P. Morgan Securities LLC | $10.2M | 34.42% |
| Jane Street Capital, LLC | $3.8M | 12.79% |
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.