APCB Fees and Costs — ActivePassive Core Bond ETF
Data updated: 2026-07-28
The net expense ratio is 0.36%. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $149K in broker commissions, 0.0400% of average net assets, and portfolio turnover was 47%.
APCB Fees and Expenses
Annual operating expenses and sales charges of APCB. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.36% |
| Fee waiver | — |
| Net expense ratio | 0.36% |
| 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 |
APCB Costs Over Time
On $10,000 invested in APCB, assuming 5% a year before costs, total costs come to $253 over 5 years, cutting the return by 0.42% 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 0.36%) | $38 | $119 | $207 |
| Trading costs (broker commissions) | $4 | $13 | $23 |
| Lost growth on money paid in costs | $0 | $7 | $23 |
| Total costs | $42 | $138 | $253 |
| Value after costs | $10,458 | $11,438 | $12,510 |
| Impact on return, per year | 0.42% | 0.42% | 0.42% |
APCB Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0400%
- Total broker commissions: $149K
- Bought from dealers (principal trades, not a cost): $598.6M
- Portfolio turnover (prospectus): 47%
- Securities lending: none during the year
APCB Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU FINANCIAL CAPITAL MARKETS LLC | $149K | 100.00% |
APCB Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MADISON WILLIAMS AND COMPANY | $137.7M | 23.01% |
| TRADEWEB LLC | $100.2M | 16.75% |
| BOFA SECURITIES INC. | $75.0M | 12.53% |
| CITIGROUP GLOBAL MARKETS INC. | $59.1M | 9.87% |
| J.P. MORGAN SECURITIES LLC | $58.7M | 9.81% |
| GOLDMAN SACHS & CO LLC | $52.0M | 8.69% |
| BARCLAY CAPITAL INC | $34.9M | 5.84% |
| WELLS FARGO SECURITIES LLC | $27.8M | 4.64% |
| MORGAN STANLEY & CO LLC | $27.7M | 4.63% |
| CITADEL SECURITIES LLC | $25.3M | 4.23% |
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.