CUSD Fees and Costs — CrossingBridge Pre-Merger SPAC ETF
Data updated: 2026-08-26
The net expense ratio is 0.81%: a 0.80% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $69K in broker commissions, 0.0993% of average net assets, and portfolio turnover was 203%.
CUSD Fees and Expenses
Annual operating expenses and sales charges of CUSD. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | — |
| Other expenses | 0.01% |
| Gross expense ratio | 0.81% |
| Fee waiver | — |
| Net expense ratio | 0.81% |
| 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 |
CUSD Costs Over Time
On $10,000 invested in CUSD, assuming 5% a year before costs, total costs come to $570 over 5 years, cutting the return by 0.95% 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 0.81%) | $85 | $266 | $461 |
| Trading costs (broker commissions) | $10 | $33 | $57 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $95 | $313 | $570 |
| Value after costs | $10,405 | $11,263 | $12,193 |
| Impact on return, per year | 0.95% | 0.95% | 0.95% |
CUSD Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0993%
- Total broker commissions: $69K
- Bought from dealers (principal trades, not a cost): $204.7M
- Portfolio turnover (prospectus): 203%
- Securities lending: none during the year
CUSD Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| NATIONAL FINANCIAL SERVICES LLC | $21K | 29.56% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $17K | 24.13% |
| PERSHING LLC | $15K | 22.30% |
| MIZUHO SECURITIES USA LLC | $13K | 18.15% |
| CLEAR STREET LLC | $3K | 4.83% |
| CANTOR FITZGERALD & CO. | $715 | 1.03% |
CUSD Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES INC. | $5.0M | 14.61% |
| CITIGROUP GLOBAL MARKETS INC. | $4.5M | 13.20% |
| J.P. MORGAN SECURITIES LLC | $4.0M | 11.66% |
| CANTOR FITZGERALD & CO. | $3.8M | 11.01% |
| GOLDMAN SACHS & CO. LLC | $3.5M | 10.26% |
| RBC CAPITAL MARKETS, LLC | $3.3M | 9.79% |
| AXOS CLEARING LLC | $2.8M | 8.07% |
| CLEAR STREET LLC | $2.5M | 7.34% |
| NATIONAL FINANCIAL SERVICES LLC | $2.5M | 7.34% |
| PERSHING LLC | $2.3M | 6.74% |
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.