ARMR Fees and Costs — Armor US Equity Index ETF
Data updated: 2024-02-02
The net expense ratio is 0.60%. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $40K in broker commissions, 0.1572% of average net assets, and portfolio turnover was 1648%.
ARMR Fees and Expenses
Annual operating expenses and sales charges of ARMR. Prospectus, as of March 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.60% |
| Fee waiver | — |
| Net expense ratio | 0.60% |
| 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 |
ARMR Costs Over Time
On $10,000 invested in ARMR, assuming 5% a year before costs, total costs come to $476 over 5 years, cutting the return by 0.80% 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 0.60%) | $63 | $197 | $343 |
| Trading costs (broker commissions) | $17 | $52 | $90 |
| Lost growth on money paid in costs | $0 | $12 | $44 |
| Total costs | $80 | $261 | $476 |
| Value after costs | $10,420 | $11,315 | $12,287 |
| Impact on return, per year | 0.80% | 0.80% | 0.80% |
ARMR Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.1572%
- Total broker commissions: $40K
- Bought from dealers (principal trades, not a cost): $149.2M
- Portfolio turnover (prospectus): 1648%
- Securities lending: none during the year
ARMR Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $25K | 62.90% |
| MISCHLER FINANCIAL GROUP, INC. | $9K | 22.43% |
| Jane Street Execution Services, LLC | $4K | 9.85% |
| GOLDMAN SACHS & CO. LLC | $2K | 4.82% |
ARMR Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $86.7M | 58.12% |
| GOLDMAN SACHS & CO. LLC | $47.5M | 31.85% |
| BOFA SECURITIES, INC. | $9.9M | 6.61% |
| Jane Street Execution Services, LLC | $5.1M | 3.42% |
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.