C000229260 Fees and Costs — AltShares Event-Driven ETF
Data updated: 2026-08-12
The net expense ratio is 1.33%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $37K in broker commissions, 0.4190% of average net assets, and portfolio turnover was 480%.
C000229260 Fees and Expenses
Annual operating expenses and sales charges of C000229260. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.06% |
| Gross expense ratio | 1.33% |
| Fee waiver | — |
| Net expense ratio | 1.33% |
| 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 |
C000229260 Costs Over Time
On $10,000 invested in C000229260, assuming 5% a year before costs, total costs come to $1,078 over 5 years, cutting the return by 1.84% 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 1.33%) | $140 | $432 | $744 |
| Trading costs (broker commissions) | $44 | $136 | $234 |
| Lost growth on money paid in costs | $0 | $28 | $100 |
| Total costs | $184 | $597 | $1,078 |
| Value after costs | $10,316 | $10,979 | $11,685 |
| Impact on return, per year | 1.84% | 1.84% | 1.84% |
C000229260 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.4190%
- Total broker commissions: $37K
- Bought from dealers (principal trades, not a cost): $58.7M
- Portfolio turnover (prospectus): 480%
- Securities lending: none during the year
C000229260 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $18K | 54.83% |
| Mischler Financial Group, Inc. | $6K | 19.40% |
| Barclays Capital Inc. | $2K | 6.94% |
| BofA Securities, Inc. | $2K | 5.51% |
| Bloomberg Tradebook LLC | $2K | 5.25% |
| BTIG, LLC | $835 | 2.52% |
| Jones & Associates, Inc. | $541 | 1.63% |
| Cowen and Company, LLC | $448 | 1.35% |
| Cantor Fitzgerald & Co. | $442 | 1.33% |
| Jefferies LLC | $408 | 1.23% |
C000229260 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $33.3M | 60.04% |
| Morgan Stanley & Co. LLC | $20.5M | 37.00% |
| Robert W. Baird & Co. Incorporated | $271K | 0.49% |
| Barclays Capital Inc. | $263K | 0.47% |
| BofA Securities, Inc. | $245K | 0.44% |
| RBC Capital Markets, LLC | $212K | 0.38% |
| Goldman Sachs & Co. LLC | $205K | 0.37% |
| MarketAxess Corporation | $194K | 0.35% |
| BNY Capital Markets, LLC | $132K | 0.24% |
| OPPENHEIMER & CO. INC. | $119K | 0.21% |
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.