AVGX Fees and Costs — Defiance Daily Target 2X Long AVGO ETF
Data updated: 2026-09-28
The net expense ratio is 1.31%: a 1.29% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1.2M in broker commissions, 0.8035% of average net assets, and portfolio turnover was 1661%.
AVGX Fees and Expenses
Annual operating expenses and sales charges of AVGX. Prospectus, as of August 24, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.29% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 1.31% |
| Fee waiver | — |
| Net expense ratio | 1.31% |
| 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 |
AVGX Costs Over Time
On $10,000 invested in AVGX, assuming 5% a year before costs, total costs come to $1,293 over 5 years, cutting the return by 2.22% 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 1.31%) | $138 | $424 | $727 |
| Trading costs (broker commissions) | $84 | $260 | $446 |
| Lost growth on money paid in costs | $0 | $34 | $120 |
| Total costs | $222 | $719 | $1,293 |
| Value after costs | $10,278 | $10,858 | $11,470 |
| Impact on return, per year | 2.22% | 2.22% | 2.22% |
AVGX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.8035%
- Total broker commissions: $1.2M
- Bought from dealers (principal trades, not a cost): $578.1M
- Portfolio turnover (prospectus): 1661%
- Securities lending: none during the year
AVGX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CANTOR FITZGERALD & CO. | $303K | 25.61% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $303K | 25.60% |
| VIRTU FINANCIAL CAPITAL MARKETS LLC | $287K | 24.19% |
| NOMURA SECURITIES INTERNATIONAL INC. | $125K | 10.55% |
| MAREX CAPITAL MARKETS INC. | $69K | 5.84% |
| NATIONAL BANK OF CANADA FINANCIAL INC. | $58K | 4.92% |
| MORGAN STANLEY & CO. LLC | $28K | 2.35% |
| BMO CAPITAL MARKETS CORP. | $11K | 0.95% |
AVGX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $350.4M | 60.93% |
| WELLS FARGO SECURITIES LLC | $57.3M | 9.97% |
| BMO CAPITAL MARKETS CORP. | $39.7M | 6.90% |
| DAIWA CAPITAL MARKETS AMERICA INC. | $29.1M | 5.05% |
| BOFA SECURITIES INC. | $27.6M | 4.79% |
| JEFFERIES LLC | $27.1M | 4.71% |
| NOMURA SECURITIES INTERNATIONAL INC. | $13.8M | 2.41% |
| J.P. MORGAN SECURITIES LLC | $13.1M | 2.27% |
| PERSHING LLC | $10.5M | 1.82% |
| GOLDMAN SACHS & CO. LLC | $6.5M | 1.13% |
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.