CEPI Fees and Costs — REX Crypto Equity Premium Income ETF
Data updated: 2026-09-23
The net expense ratio is 0.85%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $533K in broker commissions, 1.3483% of average net assets, and portfolio turnover was 43%.
CEPI Fees and Expenses
Annual operating expenses and sales charges of CEPI. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.85% |
| Fee waiver | — |
| Net expense ratio | 0.85% |
| 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 |
CEPI Costs Over Time
On $10,000 invested in CEPI, assuming 5% a year before costs, total costs come to $1,342 over 5 years, cutting the return by 2.31% 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 0.85%) | $89 | $275 | $471 |
| Trading costs (broker commissions) | $142 | $436 | $747 |
| Lost growth on money paid in costs | $0 | $36 | $125 |
| Total costs | $231 | $747 | $1,342 |
| Value after costs | $10,269 | $10,829 | $11,420 |
| Impact on return, per year | 2.31% | 2.31% | 2.31% |
CEPI 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): 1.3483%
- Total broker commissions: $533K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 43%
- Securities lending: none during the year
CEPI Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $458K | 85.98% |
| OLD MISSION MARKETS LLC | $51K | 9.49% |
| WALLACHBETH CAPITAL LLC | $22K | 4.11% |
| MIRAE ASSET SECURITIES (USA) INC. | $2K | 0.35% |
| GOLDMAN SACHS & CO. LLC | $387 | 0.07% |
| SUSQUEHANNA FINANCIAL GROUP LLLP | $56 | 0.01% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.