C000246257 Fees and Costs — The MidCap Value Fund, Shares
Data updated: 2026-09-24
The net expense ratio is 0.71%: a 0.30% management fee plus 0.69% other expenses, less a 0.29% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $21K in broker commissions, 0.0535% of average net assets, and portfolio turnover was 55%.
C000246257 Fees and Expenses
Annual operating expenses and sales charges of C000246257. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | — |
| Other expenses | 0.69% |
| Gross expense ratio | 1.00% |
| Fee waiver | −0.29% |
| Net expense ratio | 0.71% |
| 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 | No |
C000246257 Costs Over Time
On $10,000 invested in C000246257, assuming 5% a year before costs, total costs come to $480 over 5 years, cutting the return by 0.80% 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 0.71%) | $75 | $233 | $405 |
| Trading costs (broker commissions) | $6 | $18 | $31 |
| Lost growth on money paid in costs | $0 | $12 | $44 |
| Total costs | $80 | $263 | $480 |
| Value after costs | $10,420 | $11,313 | $12,283 |
| Impact on return, per year | 0.80% | 0.80% | 0.80% |
C000246257 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0535%
- Total broker commissions: $21K
- Bought from dealers (principal trades, not a cost): $8.4M
- Portfolio turnover (prospectus): 55%
- Securities lending: none during the year
C000246257 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $8K | 40.76% |
| Evercore Group L.L.C. | $7K | 32.62% |
| Barclays Capital Inc. | $4K | 17.38% |
| J.P. Morgan Securities LLC | $2K | 7.75% |
| Renaissance Macro Securities, LLC | $308 | 1.49% |
C000246257 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $8.4M | 100.00% |
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.