CAS Fees and Costs — Simplify China A Shares PLUS Income ETF
Data updated: 2026-09-11
The net expense ratio is 0.88%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $14K in broker commissions, 0.1191% of average net assets, and portfolio turnover was 0%.
CAS Fees and Expenses
Annual operating expenses and sales charges of CAS. Prospectus, as of November 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.88% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.88% |
| Fee waiver | — |
| Net expense ratio | 0.88% |
| 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 |
CAS Costs Over Time
On $10,000 invested in CAS, assuming 5% a year before costs, total costs come to $625 over 5 years, cutting the return by 1.05% 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 0.88%) | $92 | $288 | $500 |
| Trading costs (broker commissions) | $13 | $39 | $68 |
| Lost growth on money paid in costs | $0 | $16 | $57 |
| Total costs | $105 | $344 | $625 |
| Value after costs | $10,395 | $11,233 | $12,138 |
| Impact on return, per year | 1.05% | 1.05% | 1.05% |
CAS Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.1191%
- Total broker commissions: $14K
- Bought from dealers (principal trades, not a cost): $69.6M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
CAS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wolverine Execution Services LLC | $5K | 38.64% |
| JANE STREET EXECUTION SERVICES, LLC | $5K | 32.35% |
| IMC FINANCIAL MARKETS | $3K | 20.70% |
| STONEX FINANCIAL INC. | $776 | 5.53% |
| IMC EXECUTION SERVICES | $305 | 2.17% |
| OPTIVER US LLC | $44 | 0.31% |
| GOLDMAN SACHS & CO. LLC | $19 | 0.14% |
| OLD MISSION MARKETS LLC | $13 | 0.09% |
| VIRTU AMERICAS LLC | $10 | 0.07% |
CAS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS CAPITAL, INC. | $20.9M | 29.99% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $14.7M | 21.13% |
| MORGAN STANLEY & CO. LLC | $10.8M | 15.59% |
| Wolverine Execution Services, LLC | $10.2M | 14.67% |
| GOLDMAN SACHS & CO. LLC | $5.3M | 7.65% |
| STONEX FINANCIAL INC. | $3.9M | 5.57% |
| JANE STREET EXECUTION SERVICES, LLC | $3.7M | 5.33% |
| BOFA SECURITIES, INC. | $51K | 0.07% |
| UBS SECURITIES LLC | $723 | 0.00% |
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.