CSA Fees and Costs — VictoryShares US Small Cap Volatility Wtd ETF
Data updated: 2025-05-29
The net expense ratio is 0.35%: a 0.30% management fee plus 0.25% other expenses, less a 0.20% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $28K in broker commissions, 0.0959% of average net assets, and portfolio turnover was 49%.
CSA Fees and Expenses
Annual operating expenses and sales charges of CSA. Prospectus, as of October 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | — |
| Other expenses | 0.25% |
| Gross expense ratio | 0.55% |
| Fee waiver | −0.20% |
| Net expense ratio | 0.35% |
| 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 | Yes |
CSA Costs Over Time
On $10,000 invested in CSA, assuming 5% a year before costs, total costs come to $282 over 5 years, cutting the return by 0.47% 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 0.35%) | $37 | $115 | $201 |
| Trading costs (broker commissions) | $10 | $32 | $55 |
| Lost growth on money paid in costs | $0 | $7 | $26 |
| Total costs | $47 | $154 | $282 |
| Value after costs | $10,453 | $11,422 | $12,481 |
| Impact on return, per year | 0.47% | 0.47% | 0.47% |
CSA Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0959%
- Total broker commissions: $28K
- Bought from dealers (principal trades, not a cost): $31.8M
- Portfolio turnover (prospectus): 49%
- Securities on loan, average value: $202K
- Net income from securities lending: $3K (0.011% of average net assets)
CSA Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Susquehanna Securities | $27K | 98.51% |
| RBC Capital Markets, LLC | $241 | 0.87% |
| BofA Securities, Inc. | $83 | 0.30% |
| Goldman Sachs & Co. LLC | $34 | 0.12% |
| Citigroup Global Markets Inc. | $30 | 0.11% |
| J.P. Morgan Securities LLC | $22 | 0.08% |
| Jefferies LLC | $2 | 0.01% |
CSA Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $31.6M | 99.40% |
| Goldman Sachs & Co. LLC | $190K | 0.60% |
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.