AWTM Fees and Costs — National Investment Services Ultra-Short Duration Enhanced Income ETF
Data updated: 2022-07-28
The net expense ratio is 0.24%. There are no sales loads or redemption fees. Portfolio turnover was 66%.
AWTM Fees and Expenses
Annual operating expenses and sales charges of AWTM. Prospectus, as of March 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.23% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.24% |
| Fee waiver | — |
| Net expense ratio | 0.24% |
| 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 |
AWTM Costs Over Time
On $10,000 invested in AWTM, assuming 5% a year before costs, total costs come to $152 over 5 years, cutting the return by 0.25% 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 0.24%) | $25 | $79 | $139 |
| Lost growth on money paid in costs | $0 | $4 | $14 |
| Total costs | $25 | $83 | $152 |
| Value after costs | $10,475 | $11,493 | $12,610 |
| Impact on return, per year | 0.25% | 0.25% | 0.25% |
AWTM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2021.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $278.9M
- Portfolio turnover (prospectus): 66%
- Securities on loan, average value: $562K
- Net income from securities lending: $312 (0.000% of average net assets)
AWTM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $62.9M | 29.60% |
| WELLS FARGO SECURITIES, LLC | $27.3M | 12.84% |
| RBC CAPITAL MARKETS, LLC | $27.1M | 12.78% |
| SG AMERICAS SECURITIES, LLC | $22.1M | 10.38% |
| BARCLAYS CAPITAL INC. | $16.5M | 7.79% |
| HSBC SECURITIES (USA) INC. | $14.9M | 7.03% |
| PERFORMANCE TRUST CAPITAL PARTNERS, LLC | $12.3M | 5.79% |
| NATWEST MARKETS SECURITIES INC. | $10.3M | 4.86% |
| STONEX FINANCIAL INC. | $9.8M | 4.61% |
| MERRILL LYNCH PROFESSIONAL CLEARING CORP. | $9.2M | 4.32% |
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.