ALFA Fees and Costs — AlphaClone Alternative Alpha ETF
Data updated: 2022-08-29
The net expense ratio is 0.65%. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $21K in broker commissions, 0.0695% of average net assets, and portfolio turnover was 207%.
ALFA Fees and Expenses
Annual operating expenses and sales charges of ALFA. Prospectus, as of July 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.65% |
| Fee waiver | — |
| Net expense ratio | 0.65% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
ALFA Costs Over Time
On $10,000 invested in ALFA, assuming 5% a year before costs, total costs come to $453 over 5 years, cutting the return by 0.76% 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 0.65%) | $68 | $214 | $371 |
| Trading costs (broker commissions) | $7 | $23 | $40 |
| Lost growth on money paid in costs | $0 | $12 | $41 |
| Total costs | $76 | $248 | $453 |
| Value after costs | $10,424 | $11,328 | $12,310 |
| Impact on return, per year | 0.76% | 0.76% | 0.76% |
ALFA Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0695%
- Total broker commissions: $21K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 207%
- Securities on loan, average value: $7.6M
- Net income from securities lending: $18K (0.058% of average net assets)
ALFA Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG, LLC | $9K | 44.19% |
| VIRTU AMERICAS LLC | $6K | 26.94% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $4K | 16.62% |
| MISCHLER FINANCIAL GROUP, INC. | $3K | 12.25% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.