BFAP Fees and Costs — FT Vest Bitcoin Strategy Floor15 ETF - April
Data updated: 2026-08-21
The net expense ratio is 0.90%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $66K in broker commissions, 1.3313% of average net assets, and portfolio turnover was 0%.
BFAP Fees and Expenses
Annual operating expenses and sales charges of BFAP. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.90% |
| Fee waiver | — |
| Net expense ratio | 0.90% |
| 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 |
BFAP Costs Over Time
On $10,000 invested in BFAP, assuming 5% a year before costs, total costs come to $1,362 over 5 years, cutting the return by 2.34% 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 0.90%) | $94 | $291 | $498 |
| Trading costs (broker commissions) | $140 | $431 | $737 |
| Lost growth on money paid in costs | $0 | $36 | $126 |
| Total costs | $234 | $758 | $1,362 |
| Value after costs | $10,266 | $10,819 | $11,401 |
| Impact on return, per year | 2.34% | 2.34% | 2.34% |
BFAP Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 1.3313%
- Total broker commissions: $66K
- Bought from dealers (principal trades, not a cost): $2K
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
BFAP Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wolverine Execution Services LLC | $36K | 54.64% |
| X-CHANGE FINANCIAL ACCESS, LLC | $30K | 45.36% |
BFAP Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| X-CHANGE FINANCIAL ACCESS, LLC | $2K | 100.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.