BTR Fees and Costs — Beacon Tactical Risk ETF
Data updated: 2026-07-24
The net expense ratio is 1.08% (1.61% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $10K in broker commissions, 0.0335% of average net assets, and portfolio turnover was 172%.
BTR Fees and Expenses
Annual operating expenses and sales charges of BTR. Prospectus, as of June 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | — |
| Other expenses | 0.88% |
| Gross expense ratio | 1.61% |
| Fee waiver | −0.53% |
| Net expense ratio | 1.08% |
| 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 |
BTR Costs Over Time
On $10,000 invested in BTR, assuming 5% a year before costs, total costs come to $695 over 5 years, cutting the return by 1.17% 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 1.08%) | $113 | $353 | $612 |
| Trading costs (broker commissions) | $4 | $11 | $19 |
| Lost growth on money paid in costs | $0 | $18 | $64 |
| Total costs | $117 | $382 | $695 |
| Value after costs | $10,383 | $11,194 | $12,068 |
| Impact on return, per year | 1.17% | 1.17% | 1.17% |
BTR 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): 0.0335%
- Total broker commissions: $10K
- Bought from dealers (principal trades, not a cost): $8.5M
- Portfolio turnover (prospectus): 172%
- Securities lending: none during the year
BTR Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JANE STREET CAPITAL LLC | $5K | 50.68% |
| MISCHLER FINANCIAL GROUP, INC. | $5K | 49.32% |
BTR Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Virtu Financial | $5.2M | 61.68% |
| BANK OF AMERICA MERRILL LYNCH | $3.2M | 38.32% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.