ALAI Fees and Costs — Alger AI Enablers & Adopters ETF
Data updated: 2026-08-27
The net expense ratio is 0.58%: a 0.45% management fee plus 0.22% other expenses, less a 0.09% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $143K in broker commissions, 0.1134% of average net assets, and portfolio turnover was 194%.
ALAI Fees and Expenses
Annual operating expenses and sales charges of ALAI. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.22% |
| Gross expense ratio | 0.67% |
| Fee waiver | −0.09% |
| Net expense ratio | 0.58% |
| 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 | Yes |
ALAI Costs Over Time
On $10,000 invested in ALAI, assuming 5% a year before costs, total costs come to $436 over 5 years, cutting the return by 0.73% 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 0.58%) | $61 | $191 | $332 |
| Trading costs (broker commissions) | $12 | $37 | $65 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $73 | $239 | $436 |
| Value after costs | $10,427 | $11,337 | $12,326 |
| Impact on return, per year | 0.73% | 0.73% | 0.73% |
ALAI 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): 0.1134%
- Total broker commissions: $143K
- Bought from dealers (principal trades, not a cost): $11.2M
- Portfolio turnover (prospectus): 194%
- Securities lending: none during the year
ALAI Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Fred Alger & Company, LLC | $22K | 20.13% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $17K | 15.73% |
| NATIONAL FINANCIAL SERVICES LLC | $15K | 14.28% |
| Pershing LLC | $13K | 11.96% |
| MORGAN STANLEY & CO. LLC | $13K | 11.79% |
| Instinet LLC | $8K | 7.68% |
| GOLDMAN SACHS & CO. LLC | $7K | 6.13% |
| J.P. Morgan Securities LLC | $5K | 4.53% |
| RBC CAPITAL MARKETS, LLC | $4K | 4.00% |
| JEFFERIES LLC | $4K | 3.78% |
ALAI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Databricks, Inc. | $6.2M | 55.49% |
| Disruptive Technology Solutions LLC | $3.6M | 32.43% |
| Figure AI Inc. | $1.4M | 12.08% |
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.