CRAK Fees and Costs — VanEck Oil Refiners ETF
Data updated: 2026-08-26
The net expense ratio is 0.61%: a 0.50% management fee plus 0.44% other expenses, less a 0.33% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $12K in broker commissions, 0.0443% of average net assets, and portfolio turnover was 26%.
CRAK Fees and Expenses
Annual operating expenses and sales charges of CRAK. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.44% |
| Gross expense ratio | 0.94% |
| Fee waiver | −0.33% |
| Net expense ratio | 0.61% |
| 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 |
CRAK Costs Over Time
On $10,000 invested in CRAK, assuming 5% a year before costs, total costs come to $412 over 5 years, cutting the return by 0.69% 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 0.61%) | $64 | $201 | $349 |
| Trading costs (broker commissions) | $5 | $15 | $25 |
| Lost growth on money paid in costs | $0 | $11 | $38 |
| Total costs | $69 | $226 | $412 |
| Value after costs | $10,431 | $11,351 | $12,351 |
| Impact on return, per year | 0.69% | 0.69% | 0.69% |
CRAK Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0443%
- Total broker commissions: $12K
- Bought from dealers (principal trades, not a cost): $15.6M
- Portfolio turnover (prospectus): 26%
- Securities on loan, average value: $1.3M
- Net income from securities lending: $3K (0.012% of average net assets)
CRAK Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $4K | 28.92% |
| UBS Securities LLC | $3K | 25.66% |
| BofA Securities, Inc. | $3K | 20.55% |
| Citigroup Global Markets Inc. | $2K | 17.81% |
| Morgan Stanley & Co. LLC | $676 | 5.53% |
| Goldman Sachs & Co. LLC | $187 | 1.53% |
CRAK Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $8.4M | 53.69% |
| UBS Securities LLC | $2.1M | 13.54% |
| Jane Street Capital, LLC | $1.7M | 10.76% |
| Mizuho Securities USA LLC | $1.4M | 9.05% |
| Morgan Stanley & Co. LLC | $1.2M | 7.93% |
| Goldman Sachs & Co. LLC | $785K | 5.03% |
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.