CSML Fees and Costs — IQ Chaikin U.S. Small Cap ETF
Data updated: 2024-03-28
The net expense ratio is 0.35%: a 0.35% management fee plus 0.01% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $189K in broker commissions, 0.0816% of average net assets, and portfolio turnover was 62%.
CSML Fees and Expenses
Annual operating expenses and sales charges of CSML. Prospectus, as of August 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.36% |
| Fee waiver | −0.01% |
| 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 | No |
CSML Costs Over Time
On $10,000 invested in CSML, assuming 5% a year before costs, total costs come to $273 over 5 years, cutting the return by 0.45% 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) | $9 | $27 | $47 |
| Lost growth on money paid in costs | $0 | $7 | $25 |
| Total costs | $45 | $149 | $273 |
| Value after costs | $10,455 | $11,427 | $12,490 |
| Impact on return, per year | 0.45% | 0.45% | 0.45% |
CSML 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): 0.0816%
- Total broker commissions: $189K
- Bought from dealers (principal trades, not a cost): $145.5M
- Portfolio turnover (prospectus): 62%
- Securities on loan, average value: $8.1M
- Net income from securities lending: $28K (0.012% of average net assets)
CSML Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MISCHLER FINANCIAL GROUP, INC. | $50K | 26.31% |
| MORGAN STANLEY & CO. LLC | $49K | 25.92% |
| BTIG, LLC | $30K | 16.01% |
| CitiGroup Global Markets Inc. | $21K | 11.21% |
| Jane Street Execution Services, LLC | $12K | 6.55% |
| VIRTU AMERICAS LLC | $8K | 4.16% |
| INSTINET, LLC | $7K | 3.68% |
| WallachBeth Capital LLC | $5K | 2.82% |
| Stifel, Nicolaus & Company, Incorporated | $4K | 2.36% |
| CITADEL SECURITIES LLC | $2K | 0.99% |
CSML Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $55.0M | 37.80% |
| VIRTU AMERICAS LLC | $48.3M | 33.22% |
| BOFA SECURITIES, INC. | $31.8M | 21.85% |
| GOLDMAN SACHS & CO. LLC | $9.6M | 6.59% |
| Poshmark Inc | $797K | 0.55% |
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.