BUCK Fees and Costs — Simplify Treasury Option Income ETF
Data updated: 2026-09-11
The net expense ratio is 0.35%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $179K in broker commissions, 0.0466% of average net assets, and portfolio turnover was 0%.
BUCK Fees and Expenses
Annual operating expenses and sales charges of BUCK. Prospectus, as of November 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.35% |
| Fee waiver | — |
| Net expense ratio | 0.35% |
| 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 |
BUCK Costs Over Time
On $10,000 invested in BUCK, assuming 5% a year before costs, total costs come to $251 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 0.35%) | $37 | $115 | $201 |
| Trading costs (broker commissions) | $5 | $15 | $27 |
| Lost growth on money paid in costs | $0 | $6 | $23 |
| Total costs | $42 | $137 | $251 |
| Value after costs | $10,458 | $11,439 | $12,512 |
| Impact on return, per year | 0.42% | 0.42% | 0.42% |
BUCK 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): 0.0466%
- Total broker commissions: $179K
- Bought from dealers (principal trades, not a cost): $846.8M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
BUCK Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INTERACTIVE BROKERS, LLC | $178K | 99.71% |
| Wolverine Execution Services LLC | $362 | 0.20% |
| VIRTU AMERICAS LLC | $165 | 0.09% |
BUCK Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Wolverine Execution Services, LLC | $370.7M | 43.78% |
| GOLDMAN SACHS & CO. LLC | $223.8M | 26.43% |
| BARCLAYS CAPITAL, INC. | $170.4M | 20.12% |
| JANE STREET EXECUTION SERVICES, LLC | $52.0M | 6.14% |
| MORGAN STANLEY & CO. LLC | $25.4M | 3.00% |
| TIGRESS FINANCIAL PARTNERS, LLC | $2.5M | 0.29% |
| STONEX FINANCIAL INC. | $2.0M | 0.23% |
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.