C000236724 Fees and Costs — RiverNorth Enhanced Pre-Merger SPAC ETF
Data updated: 2025-05-30
The net expense ratio is 0.90%. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $1K in broker commissions, 0.0284% of average net assets, and portfolio turnover was 64%.
C000236724 Fees and Expenses
Annual operating expenses and sales charges of C000236724. Prospectus, as of April 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.89% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.90% |
| Fee waiver | — |
| Net expense ratio | 0.90% |
| 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 |
C000236724 Costs Over Time
On $10,000 invested in C000236724, assuming 5% a year before costs, total costs come to $582 over 5 years, cutting the return by 0.97% 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 0.90%) | $94 | $295 | $512 |
| Trading costs (broker commissions) | $3 | $9 | $16 |
| Lost growth on money paid in costs | $0 | $15 | $53 |
| Total costs | $97 | $319 | $582 |
| Value after costs | $10,403 | $11,257 | $12,181 |
| Impact on return, per year | 0.97% | 0.97% | 0.97% |
C000236724 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0284%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $1.6M
- Portfolio turnover (prospectus): 64%
- Securities lending: none during the year
C000236724 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CANTOR FITZGERALD & CO. | $751 | 50.74% |
| BTIG LLC | $302 | 20.38% |
| SEAPORT GLOBAL SECURITIES LLC | $156 | 10.56% |
| PERSHING LLC | $135 | 9.12% |
| FIDELITY BROKERAGE SERVICES LLC | $49 | 3.29% |
| PUMA CAPITAL LLC | $30 | 2.03% |
| CLEAR STREET LLC | $22 | 1.48% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $19 | 1.27% |
| AXOS CLEARING LLC | $17 | 1.12% |
C000236724 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CANTOR FITZGERALD & CO. | $406K | 25.54% |
| BTIG LLC | $384K | 24.18% |
| SEAPORT GLOBAL SECURITIES LLC | $262K | 16.48% |
| PUMA CAPITAL LLC | $157K | 9.86% |
| PERSHING LLC | $128K | 8.03% |
| CLEAR STREET LLC | $71K | 4.46% |
| RBC CAPITAL MARKETS LLC | $67K | 4.24% |
| NATIONAL FINANCIAL SERVICES LLC | $50K | 3.15% |
| AXOS CLEARING LLC | $33K | 2.10% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $31K | 1.97% |
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.