BYRE Fees and Costs — Principal Real Estate Active Opportunities ETF
Data updated: 2026-09-10
The net expense ratio is 0.60%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $11K in broker commissions, 0.0532% of average net assets, and portfolio turnover was 34%.
BYRE Fees and Expenses
Annual operating expenses and sales charges of BYRE. Prospectus, as of November 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | — |
| 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 |
BYRE Costs Over Time
On $10,000 invested in BYRE, assuming 5% a year before costs, total costs come to $411 over 5 years, cutting the return by 0.69% 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 | $343 |
| Trading costs (broker commissions) | $6 | $17 | $30 |
| Lost growth on money paid in costs | $0 | $11 | $38 |
| Total costs | $69 | $225 | $411 |
| Value after costs | $10,431 | $11,351 | $12,351 |
| Impact on return, per year | 0.69% | 0.69% | 0.69% |
BYRE 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): 0.0532%
- Total broker commissions: $11K
- Bought from dealers (principal trades, not a cost): $17.3M
- Portfolio turnover (prospectus): 34%
- Securities lending: none during the year
BYRE Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $4K | 39.44% |
| CIBC World Markets Corp. | $2K | 20.83% |
| UBS Securities LLC | $915 | 9.32% |
| RBC Capital Markets, LLC | $791 | 8.05% |
| BofA Securities, Inc. | $516 | 5.25% |
| Jefferies LLC | $483 | 4.92% |
| BMO Capital Markets Corp. | $412 | 4.19% |
| J.P. Morgan Securities LLC | $325 | 3.31% |
| BTIG, LLC | $247 | 2.51% |
| Goldman Sachs & Co. LLC | $213 | 2.17% |
BYRE Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $8.9M | 51.66% |
| National Securities Clearing Corporation | $4.9M | 28.24% |
| Virtu Americas LLC | $2.4M | 14.13% |
| J.P. Morgan Securities LLC | $505K | 2.93% |
| Goldman Sachs & Co. LLC | $370K | 2.14% |
| Wells Fargo Securities, LLC | $125K | 0.72% |
| Morgan Stanley & Co. LLC | $31K | 0.18% |
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.