DADS Fees and Costs — Digital Asset Debt Strategy ETF
Data updated: 2026-09-22
The net expense ratio is 0.84%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1K in broker commissions, 0.0158% of average net assets, and portfolio turnover was 34%.
DADS Fees and Expenses
Annual operating expenses and sales charges of DADS. Prospectus, as of September 22, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.84% |
| Fee waiver | — |
| Net expense ratio | 0.84% |
| 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 |
DADS Costs Over Time
On $10,000 invested in DADS, assuming 5% a year before costs, total costs come to $537 over 5 years, cutting the return by 0.90% 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 0.84%) | $88 | $276 | $479 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $0 | $14 | $49 |
| Total costs | $90 | $295 | $537 |
| Value after costs | $10,410 | $11,282 | $12,226 |
| Impact on return, per year | 0.90% | 0.90% | 0.90% |
DADS Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0158%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $4.8M
- Portfolio turnover (prospectus): 34%
- Securities lending: none during the year
DADS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $637 | 59.08% |
| GOLDMAN SACHS & CO. LLC | $229 | 21.28% |
| JANE STREET EXECUTION SERVICES LLC | $124 | 11.54% |
| ROBERT W. BAIRD & CO. INCORPORATED | $65 | 6.06% |
| MIRAE ASSET SECURITIES (USA) INC. | $22 | 2.04% |
DADS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $1.5M | 31.88% |
| GOLDMAN SACHS & CO. LLC | $1.1M | 22.38% |
| JEFFERIES LLC | $743K | 15.45% |
| CANTOR FITZGERALD & CO. | $724K | 15.05% |
| MARKET AXESS INC. | $322K | 6.70% |
| BARCLAYS CAPITAL INC. | $296K | 6.15% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $90K | 1.88% |
| BNY MELLON CAPITAL MARKETS LLC | $25K | 0.52% |
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.