BCIL Fees and Costs — Bancreek International Large Cap ETF
Data updated: 2026-07-28
The net expense ratio is 0.80% (0.90% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $93K in broker commissions, 0.3060% of average net assets, and portfolio turnover was 280%.
BCIL Fees and Expenses
Annual operating expenses and sales charges of BCIL. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.90% |
| Fee waiver | −0.10% |
| Net expense ratio | 0.80% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
BCIL Costs Over Time
On $10,000 invested in BCIL, assuming 5% a year before costs, total costs come to $690 over 5 years, cutting the return by 1.16% 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 0.80%) | $84 | $262 | $454 |
| Trading costs (broker commissions) | $32 | $100 | $173 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $116 | $380 | $690 |
| Value after costs | $10,384 | $11,196 | $12,072 |
| Impact on return, per year | 1.16% | 1.16% | 1.16% |
BCIL Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.3060%
- Total broker commissions: $93K
- Bought from dealers (principal trades, not a cost): $114.6M
- Portfolio turnover (prospectus): 280%
- Securities lending: none during the year
BCIL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Mischler Financial Group, Inc. | $90K | 97.09% |
| BTIG LLC | $3K | 2.91% |
BCIL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $68.0M | 59.37% |
| J.P. Morgan Securities LLC | $46.6M | 40.63% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.