APIE Fees and Costs — ActivePassive International Equity ETF
Data updated: 2026-07-28
The net expense ratio is 0.45%. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $244K in broker commissions, 0.0650% of average net assets, and portfolio turnover was 33%.
APIE Fees and Expenses
Annual operating expenses and sales charges of APIE. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.45% |
| Fee waiver | — |
| Net expense ratio | 0.45% |
| 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 |
APIE Costs Over Time
On $10,000 invested in APIE, assuming 5% a year before costs, total costs come to $325 over 5 years, cutting the return by 0.54% 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 0.45%) | $47 | $148 | $258 |
| Trading costs (broker commissions) | $7 | $21 | $37 |
| Lost growth on money paid in costs | $0 | $8 | $30 |
| Total costs | $54 | $178 | $325 |
| Value after costs | $10,446 | $11,398 | $12,438 |
| Impact on return, per year | 0.54% | 0.54% | 0.54% |
APIE 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): 0.0650%
- Total broker commissions: $244K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 33%
- Securities lending: none during the year
APIE Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU FINANCIAL CAPITAL MARKETS LLC | $169K | 69.83% |
| UBS SECURITIES LLC | $21K | 8.55% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $17K | 7.06% |
| ISI FINANCIAL GROUP INC. | $9K | 3.92% |
| CITIGROUP GLOBAL MARKETS INC. | $9K | 3.70% |
| CLSA AMERICAS, LLC | $5K | 1.86% |
| MORGAN STANLEY & CO. LLC | $4K | 1.74% |
| JONESTRADING INSTITUTIONAL SERVICES LLC | $4K | 1.66% |
| GUGGENHEIM SECURITIES, LLC | $3K | 1.16% |
| WELLS FARGO SECURITIES, LLC | $1K | 0.50% |
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.