C000237746 Fees and Costs — AXS Cannabis ETF
Data updated: 2024-01-22
The net expense ratio is 0.75% (0.95% before fee waivers). There are no sales loads or redemption fees. In fiscal 2023 the fund paid $812K in broker commissions, 2.2983% of average net assets, and portfolio turnover was 71%.
C000237746 Fees and Expenses
Annual operating expenses and sales charges of C000237746. Prospectus, as of June 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.95% |
| Fee waiver | −0.20% |
| Net expense ratio | 0.75% |
| 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 |
C000237746 Costs Over Time
On $10,000 invested in C000237746, assuming 5% a year before costs, total costs come to $1,830 over 5 years, cutting the return by 3.20% 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 0.75%) | $79 | $241 | $408 |
| Trading costs (broker commissions) | $241 | $737 | $1,251 |
| Lost growth on money paid in costs | $0 | $49 | $171 |
| Total costs | $320 | $1,027 | $1,830 |
| Value after costs | $10,180 | $10,550 | $10,933 |
| Impact on return, per year | 3.20% | 3.20% | 3.20% |
C000237746 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2023.
- Explicit cost rate (commissions ÷ average net assets): 2.2983%
- Total broker commissions: $812K
- Bought from dealers (principal trades, not a cost): $27.4M
- Portfolio turnover (prospectus): 71%
- Securities on loan, average value: $2.3M
- Net income from securities lending: $174K (0.492% of average net assets)
C000237746 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| COWEN & CO. | $470K | 58.38% |
| BTIG Primer Brokerage LLC | $228K | 28.40% |
| Wallachbeth Capital LLC | $47K | 5.87% |
| Mischler Financial Group, Inc. | $27K | 3.37% |
| THE DEPOSITORY TRUST & CLEARING CORPORATION | $17K | 2.09% |
| Merlin Equities, Inc. | $5K | 0.65% |
| GTS Securities, LLC | $5K | 0.59% |
| MORGAN STANLEY | $4K | 0.44% |
| IMC FINANCIAL MARKETS | $1K | 0.15% |
| GOLDMAN SACHS & CO. LLC | $457 | 0.06% |
C000237746 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| COWEN & CO. | $20.8M | 75.79% |
| THE DEPOSITORY TRUST & CLEARING CORPORATION | $3.3M | 12.14% |
| BOFA SECURITIES, INC. | $2.3M | 8.40% |
| UMB FINANCIAL SERVICES, INC. | $391K | 1.43% |
| MORGAN STANLEY | $337K | 1.23% |
| J.P. MORGAN SECURITIES LLC | $226K | 0.83% |
| GOLDMAN SACHS & CO. LLC | $50K | 0.18% |
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.