AGOX Fees and Costs — Adaptive Alpha Opportunities ETF
Data updated: 2026-09-28
The net expense ratio is 1.36%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $5.4M in broker commissions, 1.5319% of average net assets, and portfolio turnover was 2621%.
AGOX Fees and Expenses
Annual operating expenses and sales charges of AGOX. Prospectus, as of September 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | — |
| Other expenses | 0.24% |
| Gross expense ratio | 1.36% |
| Fee waiver | — |
| Net expense ratio | 1.36% |
| 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 | Yes |
AGOX Costs Over Time
On $10,000 invested in AGOX, assuming 5% a year before costs, total costs come to $1,742 over 5 years, cutting the return by 3.04% 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 1.36%) | $143 | $437 | $743 |
| Trading costs (broker commissions) | $161 | $492 | $836 |
| Lost growth on money paid in costs | $0 | $47 | $163 |
| Total costs | $304 | $976 | $1,742 |
| Value after costs | $10,196 | $10,601 | $11,021 |
| Impact on return, per year | 3.04% | 3.04% | 3.04% |
AGOX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 1.5319%
- Total broker commissions: $5.4M
- Bought from dealers (principal trades, not a cost): $3.2B
- Portfolio turnover (prospectus): 2621%
- Securities lending: none during the year
AGOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wallachbeth Capital, LLC | $3.4M | 62.94% |
| Susquehanna Securities, LLC | $1.6M | 30.16% |
| Jane Street Capital, LLC | $284K | 5.26% |
| Clear Street LLC | $83K | 1.54% |
| BofA Securities, Inc. | $4K | 0.07% |
| Merrill Lynch Professional Clearing Corp. | $2K | 0.03% |
AGOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Clear Street LLC | $2.7B | 82.05% |
| UMB Bank, n.a. | $376.3M | 11.59% |
| Jane Street Capital, LLC | $80.8M | 2.49% |
| Wallachbeth Capital LLC | $63.2M | 1.95% |
| Merrill Lynch Professional Clearing Corp. | $45.3M | 1.40% |
| Goldman Sachs & Co. LLC | $15.4M | 0.48% |
| Susquehanna Securities, LLC | $1.6M | 0.05% |
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.