C000118182 Fees and Costs — Highland/iBoxx Senior Loan ETF
Data updated: 2023-11-29
The net expense ratio is 0.56%: a 0.45% management fee plus 0.31% other expenses, less a 0.20% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 157%.
C000118182 Fees and Expenses
Annual operating expenses and sales charges of C000118182. Prospectus, as of October 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | — |
| Other expenses | 0.31% |
| Gross expense ratio | 0.76% |
| Fee waiver | −0.20% |
| Net expense ratio | 0.56% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
C000118182 Costs Over Time
On $10,000 invested in C000118182, assuming 5% a year before costs, total costs come to $353 over 5 years, cutting the return by 0.59% 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 0.56%) | $59 | $184 | $321 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $59 | $193 | $353 |
| Value after costs | $10,441 | $11,383 | $12,409 |
| Impact on return, per year | 0.59% | 0.59% | 0.59% |
C000118182 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $76.0M
- Portfolio turnover (prospectus): 157%
- Securities lending: none during the year
C000118182 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY SMITH BARNEY LLC | $41.6M | 54.65% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH | $19.4M | 25.55% |
| BARCLAYS CAPITAL INC. | $10.0M | 13.22% |
| GOLDMAN SACHS & CO | $3.1M | 4.10% |
| J.P. MORGAN SECURITIES | $1.9M | 2.47% |
| WACHOVIA SECURITIES, INC. | $711 | 0.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.