BTCI Fees and Costs — NEOS Bitcoin High Income ETF
Data updated: 2026-08-25
The net expense ratio is 0.99%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $89K in broker commissions, 0.0135% of average net assets, and portfolio turnover was 10%.
BTCI Fees and Expenses
Annual operating expenses and sales charges of BTCI. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.98% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.99% |
| Fee waiver | — |
| Net expense ratio | 0.99% |
| 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 |
BTCI Costs Over Time
On $10,000 invested in BTCI, assuming 5% a year before costs, total costs come to $628 over 5 years, cutting the return by 1.05% 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 0.99%) | $104 | $324 | $562 |
| Trading costs (broker commissions) | $1 | $4 | $8 |
| Lost growth on money paid in costs | $0 | $16 | $58 |
| Total costs | $105 | $345 | $628 |
| Value after costs | $10,395 | $11,231 | $12,135 |
| Impact on return, per year | 1.05% | 1.05% | 1.05% |
BTCI 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): 0.0135%
- Total broker commissions: $89K
- Bought from dealers (principal trades, not a cost): $3.7B
- Portfolio turnover (prospectus): 10%
- Securities lending: none during the year
BTCI Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JANE STREET EXECUTION SERVICES LLC | $89K | 100.00% |
BTCI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| NORTHERN TRUST SECURITIES INC. | $3.7B | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.