CLSC Fees and Costs — Cabana Target Leading Sector Conservative ETF
Data updated: 2023-12-20
The net expense ratio is 0.85% (0.96% before fee waivers). There are no sales loads or redemption fees. In fiscal 2023 the fund paid $3K in broker commissions, 0.0016% of average net assets, and portfolio turnover was 872%.
CLSC Fees and Expenses
Annual operating expenses and sales charges of CLSC. Prospectus, as of April 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.96% |
| Fee waiver | −0.11% |
| Net expense ratio | 0.85% |
| 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 | No |
CLSC Costs Over Time
On $10,000 invested in CLSC, assuming 5% a year before costs, total costs come to $534 over 5 years, cutting the return by 0.89% 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 | $279 | $484 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $14 | $49 |
| Total costs | $89 | $293 | $534 |
| Value after costs | $10,411 | $11,283 | $12,229 |
| Impact on return, per year | 0.89% | 0.89% | 0.89% |
CLSC Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0016%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $4.3B
- Portfolio turnover (prospectus): 872%
- Securities lending: none during the year
CLSC Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $2K | 55.76% |
| MISCHLER FINANCIAL GROUP, INC. | $655 | 22.41% |
| Jane Street Execution Services, LLC | $532 | 18.20% |
| CITADEL SECURITIES LLC | $106 | 3.63% |
CLSC Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Jane Street Execution Services, LLC | $1.0B | 23.78% |
| VIRTU AMERICAS LLC | $1.0B | 23.15% |
| MISCHLER FINANCIAL GROUP, INC. | $883.5M | 20.39% |
| BOFA SECURITIES, INC. | $874.2M | 20.17% |
| CITADEL SECURITIES LLC | $333.8M | 7.70% |
| GOLDMAN SACHS & CO. LLC | $192.6M | 4.45% |
| FLOW TRADERS U.S. INSTITUTIONAL TRADING LLC | $14.3M | 0.33% |
| J.P. Morgan Securities LLC | $1.0M | 0.02% |
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.