ALTS Fees and Costs — ProShares Morningstar Alternatives Solution ETF
Data updated: 2022-04-28
The net expense ratio is 0.95% (1.81% before fee waivers). There are no sales loads or redemption fees. In fiscal 2021 the fund paid $1K in broker commissions, 0.0148% of average net assets, and portfolio turnover was 62%.
ALTS Fees and Expenses
Annual operating expenses and sales charges of ALTS. Prospectus, as of January 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.07% |
| 12b-1 fee | — |
| Other expenses | 1.01% |
| Gross expense ratio | 1.81% |
| Fee waiver | −0.86% |
| Net expense ratio | 0.95% |
| 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 |
ALTS Costs Over Time
On $10,000 invested in ALTS, assuming 5% a year before costs, total costs come to $604 over 5 years, cutting the return by 1.01% 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 0.95%) | $100 | $311 | $540 |
| Trading costs (broker commissions) | $2 | $5 | $8 |
| Lost growth on money paid in costs | $0 | $16 | $55 |
| Total costs | $101 | $332 | $604 |
| Value after costs | $10,399 | $11,244 | $12,159 |
| Impact on return, per year | 1.01% | 1.01% | 1.01% |
ALTS Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0148%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $4.0M
- Portfolio turnover (prospectus): 62%
- Securities on loan, average value: $639K
- Net income from securities lending: $36K (0.467% of average net assets)
ALTS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Susquehanna Financial Group, LLLP | $1K | 100.00% |
ALTS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $2.5M | 62.37% |
| Citadel Securities LLC | $1.5M | 37.63% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.