CLOB Fees and Costs — VanEck AA-BB CLO ETF
Data updated: 2026-08-26
The net expense ratio is 0.45%. There are no sales loads or redemption fees. Portfolio turnover was 47%.
CLOB Fees and Expenses
Annual operating expenses and sales charges of CLOB. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.45% |
| Fee waiver | — |
| Net expense ratio | 0.45% |
| 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 |
CLOB Costs Over Time
On $10,000 invested in CLOB, assuming 5% a year before costs, total costs come to $285 over 5 years, cutting the return by 0.47% 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 0.45%) | $47 | $148 | $259 |
| Lost growth on money paid in costs | $0 | $7 | $26 |
| Total costs | $47 | $156 | $285 |
| Value after costs | $10,453 | $11,421 | $12,478 |
| Impact on return, per year | 0.47% | 0.47% | 0.47% |
CLOB Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $378.3M
- Portfolio turnover (prospectus): 47%
- Securities lending: none during the year
CLOB Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BMO Capital Markets Corp. | $69.9M | 22.47% |
| Morgan Stanley & Co. LLC | $41.5M | 13.33% |
| BofA Securities, Inc. | $33.0M | 10.60% |
| J.P. Morgan Securities LLC | $31.9M | 10.25% |
| Citigroup Global Markets Inc. | $30.5M | 9.79% |
| Wells Fargo Securities, LLC | $26.2M | 8.41% |
| Deutsche Bank Securities Inc. | $23.0M | 7.38% |
| Jefferies LLC | $22.0M | 7.07% |
| Goldman Sachs & Co. LLC | $17.7M | 5.68% |
| Nomura Securities International, Inc. | $15.6M | 5.03% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.