CIZ Fees and Costs — VictoryShares Developed Enhanced Volatility Wtd ETF
Data updated: 2024-11-26
The net expense ratio is 0.51% (0.97% before fee waivers). There are no sales loads or redemption fees. In fiscal 2024 the fund paid $112K in broker commissions, 0.2784% of average net assets, and portfolio turnover was 320%.
CIZ Fees and Expenses
Annual operating expenses and sales charges of CIZ. Prospectus, as of October 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | — |
| Other expenses | 0.51% |
| Gross expense ratio | 0.97% |
| Fee waiver | −0.46% |
| Net expense ratio | 0.51% |
| 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 |
CIZ Costs Over Time
On $10,000 invested in CIZ, assuming 5% a year before costs, total costs come to $495 over 5 years, cutting the return by 0.83% 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 0.51%) | $54 | $167 | $291 |
| Trading costs (broker commissions) | $29 | $91 | $159 |
| Lost growth on money paid in costs | $0 | $13 | $45 |
| Total costs | $83 | $272 | $495 |
| Value after costs | $10,417 | $11,305 | $12,268 |
| Impact on return, per year | 0.83% | 0.83% | 0.83% |
CIZ Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.2784%
- Total broker commissions: $112K
- Bought from dealers (principal trades, not a cost): $10.1M
- Portfolio turnover (prospectus): 320%
- Securities on loan, average value: $418K
- Net income from securities lending: $5K (0.011% of average net assets)
CIZ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $68K | 60.58% |
| Citigroup Global Markets Inc. | $43K | 38.63% |
| J.P. Morgan Securities LLC | $433 | 0.39% |
| RBC Capital Markets, LLC | $231 | 0.21% |
| Morgan Stanley & Co. LLC | $133 | 0.12% |
| Goldman Sachs & Co. LLC | $91 | 0.08% |
CIZ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $7.0M | 69.45% |
| Citigroup Global Markets Inc. | $3.0M | 29.71% |
| Goldman Sachs & Co. LLC | $85K | 0.85% |
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.