CDL Fees and Costs — VictoryShares US Large Cap High Div Volatility Wtd ETF
Data updated: 2026-09-11
The net expense ratio is 0.35%: a 0.30% management fee plus 0.09% other expenses, less a 0.04% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $159K in broker commissions, 0.0428% of average net assets, and portfolio turnover was 44%.
CDL Fees and Expenses
Annual operating expenses and sales charges of CDL. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | — |
| Other expenses | 0.09% |
| Gross expense ratio | 0.39% |
| Fee waiver | −0.04% |
| Net expense ratio | 0.35% |
| 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 |
CDL Costs Over Time
On $10,000 invested in CDL, assuming 5% a year before costs, total costs come to $249 over 5 years, cutting the return by 0.41% 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 0.35%) | $37 | $115 | $201 |
| Trading costs (broker commissions) | $4 | $14 | $25 |
| Lost growth on money paid in costs | $0 | $6 | $23 |
| Total costs | $41 | $136 | $249 |
| Value after costs | $10,459 | $11,440 | $12,514 |
| Impact on return, per year | 0.41% | 0.41% | 0.41% |
CDL 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): 0.0428%
- Total broker commissions: $159K
- Bought from dealers (principal trades, not a cost): $36.0M
- Portfolio turnover (prospectus): 44%
- Securities on loan, average value: $2.3M
- Net income from securities lending: $5K (0.001% of average net assets)
CDL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $95K | 59.69% |
| RBC Capital Markets, LLC | $63K | 39.83% |
| Academy Securities Inc. | $501 | 0.32% |
| Goldman Sachs & Co. LLC | $259 | 0.16% |
CDL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $32.6M | 90.64% |
| Virtu Americas LLC | $3.4M | 9.36% |
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.