CPII Fees and Costs — Ionic Inflation Protection ETF
Data updated: 2025-03-28
The net expense ratio is 0.71%: a 0.70% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 336%.
CPII Fees and Expenses
Annual operating expenses and sales charges of CPII. Prospectus, as of August 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.71% |
| Fee waiver | — |
| Net expense ratio | 0.71% |
| 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 |
CPII Costs Over Time
On $10,000 invested in CPII, assuming 5% a year before costs, total costs come to $447 over 5 years, cutting the return by 0.75% 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 0.71%) | $75 | $233 | $406 |
| Lost growth on money paid in costs | $0 | $12 | $41 |
| Total costs | $75 | $245 | $447 |
| Value after costs | $10,425 | $11,331 | $12,316 |
| Impact on return, per year | 0.75% | 0.75% | 0.75% |
CPII Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $3.4M
- Portfolio turnover (prospectus): 336%
- Securities lending: none during the year
CPII Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $2.9M | 86.48% |
| MORGAN STANLEY & CO. LLC | $460K | 13.52% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.