C000203660 Fees and Costs — Gadsden Dynamic Multi-Asset ETF
Data updated: 2021-01-14
The net expense ratio is 0.77%. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $119K in broker commissions, 0.2012% of average net assets, and portfolio turnover was 369%.
C000203660 Fees and Expenses
Annual operating expenses and sales charges of C000203660. Prospectus, as of February 29, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.59% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.77% |
| Fee waiver | — |
| Net expense ratio | 0.77% |
| 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 |
C000203660 Costs Over Time
On $10,000 invested in C000203660, assuming 5% a year before costs, total costs come to $608 over 5 years, cutting the return by 1.02% 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 0.77%) | $81 | $252 | $438 |
| Trading costs (broker commissions) | $21 | $66 | $114 |
| Lost growth on money paid in costs | $0 | $16 | $56 |
| Total costs | $102 | $334 | $608 |
| Value after costs | $10,398 | $11,242 | $12,155 |
| Impact on return, per year | 1.02% | 1.02% | 1.02% |
C000203660 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.2012%
- Total broker commissions: $119K
- Bought from dealers (principal trades, not a cost): $22.3M
- Portfolio turnover (prospectus): 369%
- Securities lending: none during the year
C000203660 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MISCHLER FINANCIAL GROUP, INC. | $102K | 85.32% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $18K | 14.68% |
C000203660 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $9.4M | 42.27% |
| BNY MELLON CAPITAL MARKETS, LLC | $8.6M | 38.63% |
| TD SECURITIES (USA) LLC | $2.6M | 11.50% |
| MORGAN STANLEY & CO. LLC | $1.4M | 6.37% |
| BOFA SECURITIES INC. | $272K | 1.22% |
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.