BSR Fees and Costs — Beacon Selective Risk ETF
Data updated: 2026-07-24
The net expense ratio is 1.07% (1.48% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $9K in broker commissions, 0.0267% of average net assets, and portfolio turnover was 126%.
BSR Fees and Expenses
Annual operating expenses and sales charges of BSR. Prospectus, as of June 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | — |
| Other expenses | 0.76% |
| Gross expense ratio | 1.48% |
| Fee waiver | −0.41% |
| Net expense ratio | 1.07% |
| 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 |
BSR Costs Over Time
On $10,000 invested in BSR, assuming 5% a year before costs, total costs come to $685 over 5 years, cutting the return by 1.15% 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 1.07%) | $112 | $350 | $607 |
| Trading costs (broker commissions) | $3 | $9 | $15 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $115 | $377 | $685 |
| Value after costs | $10,385 | $11,200 | $12,078 |
| Impact on return, per year | 1.15% | 1.15% | 1.15% |
BSR Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0267%
- Total broker commissions: $9K
- Bought from dealers (principal trades, not a cost): $9.6M
- Portfolio turnover (prospectus): 126%
- Securities lending: none during the year
BSR Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JANE STREET CAPITAL LLC | $5K | 56.88% |
| Virtu Financial Capital Markets LLC. | $880 | 9.87% |
| BTIG LLC | $747 | 8.38% |
| MISCHLER FINANCIAL GROUP, INC. | $602 | 6.75% |
| OLD MISSION MARKETS LLC | $589 | 6.62% |
| SAL EQUITY TRADING, GP | $531 | 5.97% |
| WALLACHBETH CAPITAL LLC | $492 | 5.53% |
BSR Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BANK OF AMERICA MERRILL LYNCH | $9.6M | 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.