ALLW Fees and Costs — SPDR Bridgewater All Weather ETF
Data updated: 2026-09-18
The net expense ratio is 0.85%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $36K in broker commissions, 0.0120% of average net assets, and portfolio turnover was 99%.
ALLW Fees and Expenses
Annual operating expenses and sales charges of ALLW. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.85% |
| Fee waiver | — |
| Net expense ratio | 0.85% |
| 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 | No |
ALLW Costs Over Time
On $10,000 invested in ALLW, assuming 5% a year before costs, total costs come to $541 over 5 years, cutting the return by 0.91% 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 0.85%) | $89 | $279 | $484 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $14 | $50 |
| Total costs | $91 | $297 | $541 |
| Value after costs | $10,409 | $11,279 | $12,222 |
| Impact on return, per year | 0.91% | 0.91% | 0.91% |
ALLW Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0120%
- Total broker commissions: $36K
- Bought from dealers (principal trades, not a cost): $1.5B
- Portfolio turnover (prospectus): 99%
- Securities lending: none during the year
ALLW Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $31K | 85.66% |
| BofA Securities, Inc. | $2K | 5.53% |
| Citadel Securities LLC | $1K | 3.87% |
| Jane Street Execution Services, LLC | $1K | 3.29% |
| Citigroup Global Markets Inc. | $195 | 0.54% |
| UBS Securities LLC | $181 | 0.50% |
| Piper Sandler & Co. | $74 | 0.20% |
| Barclays Capital Inc. | $73 | 0.20% |
| J.P. Morgan Securities LLC | $69 | 0.19% |
| Nomura Securities International, Inc. | $3 | 0.01% |
ALLW Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $528.5M | 35.04% |
| Goldman Sachs & Co. LLC | $303.2M | 20.11% |
| State Street Bank and Trust Company | $287.9M | 19.09% |
| BNP Paribas Securities Corp. | $160.3M | 10.63% |
| Nomura Securities International, Inc. | $81.4M | 5.40% |
| Citadel Securities LLC | $37.1M | 2.46% |
| Citigroup Global Markets Inc. | $33.1M | 2.19% |
| BofA Securities, Inc. | $30.0M | 1.99% |
| BMO Capital Markets Corp. | $24.2M | 1.60% |
| Barclays Capital Inc. | $22.3M | 1.48% |
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.