BINV Fees and Costs — Brandes International ETF
Data updated: 2026-09-11
The net expense ratio is 0.70%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $68K in broker commissions, 0.0176% of average net assets, and portfolio turnover was 3%.
BINV Fees and Expenses
Annual operating expenses and sales charges of BINV. Prospectus, as of October 27, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.70% |
| Fee waiver | — |
| Net expense ratio | 0.70% |
| 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 |
BINV Costs Over Time
On $10,000 invested in BINV, assuming 5% a year before costs, total costs come to $451 over 5 years, cutting the return by 0.75% 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 0.70%) | $74 | $230 | $400 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $0 | $12 | $41 |
| Total costs | $75 | $247 | $451 |
| Value after costs | $10,425 | $11,329 | $12,311 |
| Impact on return, per year | 0.75% | 0.75% | 0.75% |
BINV Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0176%
- Total broker commissions: $68K
- Bought from dealers (principal trades, not a cost): $664.8M
- Portfolio turnover (prospectus): 3%
- Securities lending: none during the year
BINV Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $37K | 55.38% |
| BTIG, LLC | $23K | 33.32% |
| Macquarie Securities Korea Limited | $8K | 11.29% |
BINV Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| THE BANK OF NEW YORK MELLON | $325.0M | 48.89% |
| GOLDMAN SACHS & CO. LLC | $185.4M | 27.88% |
| BOFA SECURITIES, INC. | $101.3M | 15.24% |
| VIRTU AMERICAS LLC | $20.9M | 3.14% |
| UBS Securities LLC | $17.3M | 2.60% |
| Mizuho Securities USA LLC | $15.0M | 2.25% |
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.