BUSA Fees and Costs — Brandes U.S. Value ETF
Data updated: 2026-09-11
The net expense ratio is 0.60%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $25K in broker commissions, 0.0093% of average net assets, and portfolio turnover was 7%.
BUSA Fees and Expenses
Annual operating expenses and sales charges of BUSA. Prospectus, as of October 27, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.60% |
| Fee waiver | — |
| Net expense ratio | 0.60% |
| 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 |
BUSA Costs Over Time
On $10,000 invested in BUSA, assuming 5% a year before costs, total costs come to $384 over 5 years, cutting the return by 0.64% 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 0.60%) | $63 | $197 | $344 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $64 | $210 | $384 |
| Value after costs | $10,436 | $11,366 | $12,379 |
| Impact on return, per year | 0.64% | 0.64% | 0.64% |
BUSA 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): 0.0093%
- Total broker commissions: $25K
- Bought from dealers (principal trades, not a cost): $278.5M
- Portfolio turnover (prospectus): 7%
- Securities lending: none during the year
BUSA Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $19K | 75.60% |
| BTIG, LLC | $6K | 24.40% |
BUSA Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| THE BANK OF NEW YORK MELLON | $139.2M | 49.97% |
| BOFA SECURITIES, INC. | $51.8M | 18.60% |
| GOLDMAN SACHS & CO. LLC | $46.1M | 16.57% |
| VIRTU AMERICAS LLC | $41.4M | 14.85% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.