COPZ Fees and Costs — Defiance Daily Target 2x Long Copper Miners ETF
Data updated: 2026-09-28
The net expense ratio is 0.95%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $2K in broker commissions, 0.0622% of average net assets, and portfolio turnover was 0%.
COPZ Fees and Expenses
Annual operating expenses and sales charges of COPZ. Prospectus, as of August 25, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.95% |
| Fee waiver | — |
| Net expense ratio | 0.95% |
| 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 |
COPZ Costs Over Time
On $10,000 invested in COPZ, assuming 5% a year before costs, total costs come to $633 over 5 years, cutting the return by 1.06% 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 0.95%) | $100 | $311 | $540 |
| Trading costs (broker commissions) | $7 | $20 | $35 |
| Lost growth on money paid in costs | $0 | $16 | $58 |
| Total costs | $106 | $348 | $633 |
| Value after costs | $10,394 | $11,228 | $12,130 |
| Impact on return, per year | 1.06% | 1.06% | 1.06% |
COPZ Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0622%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $1.1M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
COPZ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| NOMURA SECURITIES INTERNATIONAL INC. | $1K | 68.64% |
| MAREX CAPITAL MARKETS INC. | $395 | 24.75% |
| CANTOR FITZGERALD & CO. | $97 | 6.09% |
| NATIONAL BANK OF CANADA FINANCIAL INC. | $8 | 0.52% |
COPZ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $453K | 39.84% |
| NOMURA SECURITIES INTERNATIONAL INC. | $335K | 29.47% |
| WELLS FARGO SECURITIES LLC | $269K | 23.67% |
| RBC CAPITAL MARKETS LLC | $80K | 7.02% |
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.