C000233373 Fees and Costs — The Future Long/Short ETF
Data updated: 2026-09-23
The net expense ratio is 1.24%: a 1.00% management fee plus 1.48% other expenses, less a 1.24% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $27K in broker commissions, 0.0672% of average net assets, and portfolio turnover was 283%.
C000233373 Fees and Expenses
Annual operating expenses and sales charges of C000233373. Prospectus, as of September 23, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | — |
| Other expenses | 1.48% |
| Gross expense ratio | 2.48% |
| Fee waiver | −1.24% |
| Net expense ratio | 1.24% |
| 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 |
C000233373 Costs Over Time
On $10,000 invested in C000233373, assuming 5% a year before costs, total costs come to $813 over 5 years, cutting the return by 1.37% 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 1.24%) | $130 | $405 | $700 |
| Trading costs (broker commissions) | $7 | $22 | $38 |
| Lost growth on money paid in costs | $0 | $21 | $75 |
| Total costs | $137 | $448 | $813 |
| Value after costs | $10,363 | $11,128 | $11,950 |
| Impact on return, per year | 1.37% | 1.37% | 1.37% |
C000233373 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): 0.0672%
- Total broker commissions: $27K
- Bought from dealers (principal trades, not a cost): $5.9M
- Portfolio turnover (prospectus): 283%
- Securities lending: none during the year
C000233373 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies Group | $19K | 68.72% |
| StoneX Financial Inc. | $8K | 31.28% |
C000233373 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs | $3.8M | 64.51% |
| Virtu Financials | $2.1M | 35.49% |
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.