BUYW Fees and Costs — Main BuyWrite ETF
Data updated: 2026-09-28
The net expense ratio is 0.99% (1.13% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $261K in broker commissions, 0.0377% of average net assets, and portfolio turnover was 0%.
BUYW Fees and Expenses
Annual operating expenses and sales charges of BUYW. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.11% |
| Gross expense ratio | 1.13% |
| Fee waiver | −0.14% |
| Net expense ratio | 0.99% |
| 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 |
BUYW Costs Over Time
On $10,000 invested in BUYW, assuming 5% a year before costs, total costs come to $642 over 5 years, cutting the return by 1.08% 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) | $4 | $12 | $21 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $108 | $353 | $642 |
| Value after costs | $10,392 | $11,223 | $12,120 |
| Impact on return, per year | 1.08% | 1.08% | 1.08% |
BUYW Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0377%
- Total broker commissions: $261K
- Bought from dealers (principal trades, not a cost): $695.7M
- Portfolio turnover (prospectus): 0%
- Securities on loan, average value: $3K
- Net income from securities lending: $4 (0.000% of average net assets)
BUYW Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PERSHING | $212K | 81.12% |
| JANE STREET | $37K | 14.24% |
| MAREX CAPITAL MARKETS INC. | $6K | 2.37% |
| SUSQUEHANNA CAPITAL GROUP | $6K | 2.17% |
| CONVERGEX | $239 | 0.09% |
BUYW Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BANK OF AMERICA MERRILL LYNCH | $520.7M | 74.85% |
| JANE STREET | $173.7M | 24.97% |
| GOLDMAN SACHS | $1.1M | 0.16% |
| PERSHING | $137K | 0.02% |
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.