AVMU Fees and Costs — Avantis Core Municipal Fixed Income ETF
Data updated: 2026-07-29
The net expense ratio is 0.15%. There are no sales loads or redemption fees. Portfolio turnover was 16%.
AVMU Fees and Expenses
Annual operating expenses and sales charges of AVMU. Prospectus, as of January 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.15% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.15% |
| Fee waiver | — |
| Net expense ratio | 0.15% |
| 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 |
AVMU Costs Over Time
On $10,000 invested in AVMU, assuming 5% a year before costs, total costs come to $95 over 5 years, cutting the return by 0.16% 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 0.15%) | $16 | $50 | $87 |
| Lost growth on money paid in costs | $0 | $2 | $9 |
| Total costs | $16 | $52 | $95 |
| Value after costs | $10,484 | $11,524 | $12,667 |
| Impact on return, per year | 0.16% | 0.16% | 0.16% |
AVMU 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $74.4M
- Portfolio turnover (prospectus): 16%
- Securities lending: none during the year
AVMU Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley | $19.4M | 27.88% |
| Headlands Technologies Securities, LLC | $17.6M | 25.34% |
| Marketaxess Corporation | $11.6M | 16.66% |
| Wells Fargo Securities | $5.0M | 7.15% |
| Deutsche Bank | $3.5M | 4.96% |
| Millennium Advisors LLC | $3.2M | 4.62% |
| Sumridge Partners Holdings, LLC | $3.1M | 4.38% |
| Piper Sandler and Company | $2.9M | 4.13% |
| RBC Capital Markets | $1.9M | 2.77% |
| Goldman Sachs | $1.5M | 2.12% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.