AMZA Fees and Costs — InfraCap MLP ETF
Data updated: 2026-09-29
The net expense ratio is 1.72%: a 0.95% management fee plus 0.77% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $639K in broker commissions, 0.1541% of average net assets, and portfolio turnover was 237%.
AMZA Fees and Expenses
Annual operating expenses and sales charges of AMZA. Prospectus, as of February 26, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | — |
| Other expenses | 0.77% |
| Gross expense ratio | 1.72% |
| Fee waiver | — |
| Net expense ratio | 1.72% |
| 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 |
AMZA Costs Over Time
On $10,000 invested in AMZA, assuming 5% a year before costs, total costs come to $1,152 over 5 years, cutting the return by 1.97% 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 1.72%) | $181 | $558 | $959 |
| Trading costs (broker commissions) | $16 | $50 | $86 |
| Lost growth on money paid in costs | $0 | $30 | $107 |
| Total costs | $197 | $639 | $1,152 |
| Value after costs | $10,303 | $10,938 | $11,611 |
| Impact on return, per year | 1.97% | 1.97% | 1.97% |
AMZA 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): 0.1541%
- Total broker commissions: $639K
- Bought from dealers (principal trades, not a cost): $125.6M
- Portfolio turnover (prospectus): 237%
- Securities lending: none during the year
AMZA Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC CAPITAL MARKETS, LLC | $242K | 37.93% |
| INTERACTIVE BROKERS, LLC | $200K | 31.28% |
| WELLS FARGO SECURITIES, LLC | $136K | 21.25% |
| PIPER SANDLER & CO. | $17K | 2.69% |
| GOLDMAN SACHS & CO. LLC | $17K | 2.67% |
| J.P. Morgan Securities LLC | $14K | 2.14% |
| VIRTU AMERICAS LLC | $9K | 1.40% |
| MORGAN STANLEY & CO. LLC | $3K | 0.50% |
| UBS Securities LLC | $900 | 0.14% |
AMZA Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| INTERACTIVE BROKERS, LLC | $81.1M | 64.61% |
| GOLDMAN SACHS & CO. LLC | $22.2M | 17.67% |
| WELLS FARGO SECURITIES, LLC | $13.6M | 10.87% |
| VIRTU AMERICAS LLC | $5.7M | 4.53% |
| BOFA SECURITIES, INC. | $2.9M | 2.32% |
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.