BMDL Fees and Costs — VictoryShares WestEnd Economic Cycle Bond ETF
Data updated: 2026-02-27
The net expense ratio is 0.40%: a 0.35% management fee plus 0.21% other expenses, less a 0.16% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 35%.
BMDL Fees and Expenses
Annual operating expenses and sales charges of BMDL. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | — |
| Other expenses | 0.21% |
| Gross expense ratio | 0.56% |
| Fee waiver | −0.16% |
| Net expense ratio | 0.40% |
| 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 | Yes |
BMDL Costs Over Time
On $10,000 invested in BMDL, assuming 5% a year before costs, total costs come to $253 over 5 years, cutting the return by 0.42% 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 0.40%) | $42 | $132 | $230 |
| Lost growth on money paid in costs | $0 | $7 | $23 |
| Total costs | $42 | $138 | $253 |
| Value after costs | $10,458 | $11,438 | $12,510 |
| Impact on return, per year | 0.42% | 0.42% | 0.42% |
BMDL Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $128.1M
- Portfolio turnover (prospectus): 35%
- Securities lending: none during the year
BMDL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $58.6M | 49.66% |
| BofA Securities, Inc. | $21.2M | 17.93% |
| Goldman Sachs & Co. LLC | $11.3M | 9.54% |
| Citigroup Global Markets Inc. | $4.9M | 4.14% |
| Barclays Capital Inc. | $4.7M | 3.94% |
| MarketAxess Corporation | $4.2M | 3.58% |
| MUFG Securities Americas Inc. | $4.1M | 3.52% |
| Truist Securities, Inc. | $3.8M | 3.26% |
| RBC Capital Markets, LLC | $2.8M | 2.39% |
| Academy Securities Inc. | $2.4M | 2.02% |
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.