CTA Fees and Costs — Simplify Managed Futures Strategy ETF
Data updated: 2026-09-11
The net expense ratio is 0.75%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $27K in broker commissions, 0.0020% of average net assets, and portfolio turnover was 0%.
CTA Fees and Expenses
Annual operating expenses and sales charges of CTA. Prospectus, as of November 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.75% |
| Fee waiver | — |
| Net expense ratio | 0.75% |
| 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 |
CTA Costs Over Time
On $10,000 invested in CTA, assuming 5% a year before costs, total costs come to $473 over 5 years, cutting the return by 0.79% 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 0.75%) | $79 | $246 | $428 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $12 | $43 |
| Total costs | $79 | $259 | $473 |
| Value after costs | $10,421 | $11,317 | $12,290 |
| Impact on return, per year | 0.79% | 0.79% | 0.79% |
CTA Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0020%
- Total broker commissions: $27K
- Bought from dealers (principal trades, not a cost): $10.2B
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
CTA Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INTERACTIVE BROKERS, LLC | $25K | 93.10% |
| Wolverine Execution Services LLC | $1K | 5.44% |
| VIRTU AMERICAS LLC | $386 | 1.45% |
CTA Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $7.6B | 74.24% |
| Wolverine Execution Services, LLC | $847.2M | 8.31% |
| GOLDMAN SACHS & CO. LLC | $415.3M | 4.07% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $413.9M | 4.06% |
| JANE STREET EXECUTION SERVICES, LLC | $276.6M | 2.71% |
| BARCLAYS CAPITAL, INC. | $272.1M | 2.67% |
| BNY MELLON CAPITAL MARKETS, LLC | $230.0M | 2.26% |
| STONEX FINANCIAL INC. | $121.6M | 1.19% |
| The Bank of New York Mellon | $47.0M | 0.46% |
| CitiGroup Global Markets Inc. | $2.5M | 0.02% |
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.