CLOX Fees and Costs — Panagram AAA CLO ETF
Data updated: 2026-07-28
The net expense ratio is 0.20%. There are no sales loads or redemption fees. Portfolio turnover was 65%.
CLOX Fees and Expenses
Annual operating expenses and sales charges of CLOX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.20% |
| Fee waiver | — |
| Net expense ratio | 0.20% |
| 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 |
CLOX Costs Over Time
On $10,000 invested in CLOX, assuming 5% a year before costs, total costs come to $127 over 5 years, cutting the return by 0.21% 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 0.20%) | $21 | $66 | $116 |
| Lost growth on money paid in costs | $0 | $3 | $12 |
| Total costs | $21 | $69 | $127 |
| Value after costs | $10,479 | $11,507 | $12,636 |
| Impact on return, per year | 0.21% | 0.21% | 0.21% |
CLOX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $50.4M
- Portfolio turnover (prospectus): 65%
- Securities lending: none during the year
CLOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Bank of America Securities Inc. | $12.5M | 24.84% |
| J.P. Morgan Securities LLC | $10.3M | 20.36% |
| Wells Fargo Securities LLC | $5.0M | 9.84% |
| Morgan Stanley & Co. LLC | $4.1M | 8.14% |
| Scotia Capital (USA) Inc. | $4.1M | 8.13% |
| Nomura Securities International Inc. | $3.5M | 6.86% |
| Barclays Capital Inc. | $3.4M | 6.75% |
| BNY Mellon Capital Markets LLC | $3.1M | 6.07% |
| Deutsche Bank Securities Inc. | $2.5M | 5.00% |
| SG Americas Securities LLC | $2.0M | 4.02% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.