AHHX Fees and Costs — Adaptive High Income ETF
Data updated: 2023-04-03
The net expense ratio is 0.68% (1.11% before fee waivers). There are no sales loads or redemption fees. In fiscal 2022 the fund paid $42K in broker commissions, 0.0952% of average net assets, and portfolio turnover was 231%.
AHHX Fees and Expenses
Annual operating expenses and sales charges of AHHX. Prospectus, as of May 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | — |
| Other expenses | 0.48% |
| Gross expense ratio | 1.11% |
| Fee waiver | −0.43% |
| Net expense ratio | 0.68% |
| 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 |
AHHX Costs Over Time
On $10,000 invested in AHHX, assuming 5% a year before costs, total costs come to $487 over 5 years, cutting the return by 0.81% 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 0.68%) | $71 | $223 | $388 |
| Trading costs (broker commissions) | $10 | $31 | $54 |
| Lost growth on money paid in costs | $0 | $13 | $45 |
| Total costs | $81 | $267 | $487 |
| Value after costs | $10,419 | $11,309 | $12,276 |
| Impact on return, per year | 0.81% | 0.81% | 0.81% |
AHHX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0952%
- Total broker commissions: $42K
- Bought from dealers (principal trades, not a cost): $168.2M
- Portfolio turnover (prospectus): 231%
- Securities lending: none during the year
AHHX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wallachbeth Capital, LLC | $20K | 46.80% |
| Merrill Lynch Professional Clearing Corp. | $15K | 35.79% |
| GTS Securities | $7K | 17.42% |
AHHX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Falcon Square Capital LLC | $137.2M | 81.54% |
| Merrill Lynch Professional Clearing Corp. | $31.0M | 18.46% |
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.