CPI Fees and Costs — IQ Real Return ETF
Data updated: 2023-12-20
The net expense ratio is 0.29% (0.35% before fee waivers). There are no sales loads or redemption fees. In fiscal 2023 the fund paid $552 in broker commissions, 0.0046% of average net assets, and portfolio turnover was 13%.
CPI Fees and Expenses
Annual operating expenses and sales charges of CPI. Prospectus, as of August 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.29% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.35% |
| Fee waiver | −0.06% |
| Net expense ratio | 0.29% |
| 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 |
CPI Costs Over Time
On $10,000 invested in CPI, assuming 5% a year before costs, total costs come to $187 over 5 years, cutting the return by 0.31% 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 0.29%) | $30 | $96 | $167 |
| Trading costs (broker commissions) | $0 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $5 | $17 |
| Total costs | $31 | $102 | $187 |
| Value after costs | $10,469 | $11,474 | $12,576 |
| Impact on return, per year | 0.31% | 0.31% | 0.31% |
CPI 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): 0.0046%
- Total broker commissions: $552
- Bought from dealers (principal trades, not a cost): $22.0M
- Portfolio turnover (prospectus): 13%
- Securities on loan, average value: $1.1M
- Net income from securities lending: $2K (0.014% of average net assets)
CPI Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $373 | 67.57% |
| Stifel, Nicolaus & Company, Incorporated | $103 | 18.66% |
| CitiGroup Global Markets Inc. | $41 | 7.43% |
| VIRTU AMERICAS LLC | $35 | 6.34% |
CPI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $18.2M | 82.60% |
| J.P. Morgan Securities LLC | $1.3M | 5.96% |
| CITADEL SECURITIES LLC | $1.1M | 4.85% |
| MISCHLER FINANCIAL GROUP, INC. | $774K | 3.52% |
| BOFA SECURITIES, INC. | $367K | 1.67% |
| MORGAN STANLEY & CO. LLC | $302K | 1.37% |
| Cerner Corporation | $5K | 0.02% |
| CITRIX SYSTEMS, INC. | $1K | 0.00% |
| CONTINENTAL RESOURCES, INC. | $520 | 0.00% |
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.