APUE Fees and Costs — ActivePassive U.S. Equity ETF
Data updated: 2026-07-28
The net expense ratio is 0.31%. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $184K in broker commissions, 0.0232% of average net assets, and portfolio turnover was 19%.
APUE Fees and Expenses
Annual operating expenses and sales charges of APUE. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.31% |
| Fee waiver | — |
| Net expense ratio | 0.31% |
| 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 |
APUE Costs Over Time
On $10,000 invested in APUE, assuming 5% a year before costs, total costs come to $211 over 5 years, cutting the return by 0.35% 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 0.31%) | $33 | $102 | $179 |
| Trading costs (broker commissions) | $2 | $8 | $13 |
| Lost growth on money paid in costs | $0 | $5 | $19 |
| Total costs | $35 | $115 | $211 |
| Value after costs | $10,465 | $11,461 | $12,552 |
| Impact on return, per year | 0.35% | 0.35% | 0.35% |
APUE 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): 0.0232%
- Total broker commissions: $184K
- Bought from dealers (principal trades, not a cost): $285
- Portfolio turnover (prospectus): 19%
- Securities lending: none during the year
APUE Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU FINANCIAL CAPITAL MARKETS LLC | $152K | 82.49% |
| PIPER JAFFRAY & CO. | $32K | 17.51% |
APUE Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| VIRTU FINANCIAL CAPITAL MARKETS LLC | $285 | 100.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.