AGGE Fees and Costs — IQ Enhanced Core Bond U.S. ETF
Data updated: 2020-03-27
The net expense ratio is 0.28% (0.33% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $102K in broker commissions, 0.1588% of average net assets, and portfolio turnover was 286%.
AGGE Fees and Expenses
Annual operating expenses and sales charges of AGGE. Prospectus, as of April 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.33% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.28% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
AGGE Costs Over Time
On $10,000 invested in AGGE, assuming 5% a year before costs, total costs come to $278 over 5 years, cutting the return by 0.46% 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 0.28%) | $29 | $92 | $161 |
| Trading costs (broker commissions) | $17 | $52 | $91 |
| Lost growth on money paid in costs | $0 | $7 | $25 |
| Total costs | $46 | $152 | $278 |
| Value after costs | $10,454 | $11,425 | $12,485 |
| Impact on return, per year | 0.46% | 0.46% | 0.46% |
AGGE Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.1588%
- Total broker commissions: $102K
- Bought from dealers (principal trades, not a cost): $158.0M
- Portfolio turnover (prospectus): 286%
- Securities on loan, average value: $4.0M
- Net income from securities lending: $168K (0.262% of average net assets)
AGGE Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $36K | 35.05% |
| CANTOR FITZGERALD & CO. | $27K | 26.20% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $16K | 15.23% |
| Jane Street Execution Services, LLC | $10K | 9.65% |
| DEUTSCHE BANK SECURITIES INC. | $8K | 8.16% |
| CitiGroup Global Markets Inc. | $3K | 3.21% |
| J.P. Morgan Securities LLC | $2K | 1.52% |
| Stifel, Nicolaus & Company, Incorporated | $792 | 0.78% |
| INSTINET, LLC | $201 | 0.20% |
AGGE Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $80.3M | 50.84% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $47.0M | 29.72% |
| CITADEL SECURITIES LLC | $21.5M | 13.59% |
| CANTOR FITZGERALD & CO. | $6.5M | 4.08% |
| VIRTU AMERICAS LLC | $2.8M | 1.76% |
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.