DAMD Fees and Costs — Defiance Daily Target 2X Short AMD ETF
Data updated: 2026-09-28
The net expense ratio is 1.30%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $35K in broker commissions, 0.8129% of average net assets, and portfolio turnover was 0%.
DAMD Fees and Expenses
Annual operating expenses and sales charges of DAMD. Prospectus, as of August 25, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.29% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 1.30% |
| Fee waiver | — |
| Net expense ratio | 1.30% |
| 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 |
DAMD Costs Over Time
On $10,000 invested in DAMD, assuming 5% a year before costs, total costs come to $1,293 over 5 years, cutting the return by 2.22% 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 1.30%) | $136 | $421 | $722 |
| Trading costs (broker commissions) | $85 | $263 | $451 |
| Lost growth on money paid in costs | $0 | $34 | $120 |
| Total costs | $222 | $718 | $1,293 |
| Value after costs | $10,278 | $10,858 | $11,470 |
| Impact on return, per year | 2.22% | 2.22% | 2.22% |
DAMD Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.8129%
- Total broker commissions: $35K
- Bought from dealers (principal trades, not a cost): $5.1M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
DAMD Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| NOMURA SECURITIES INTERNATIONAL INC. | $22K | 63.11% |
| MAREX CAPITAL MARKETS INC. | $10K | 28.32% |
| CANTOR FITZGERALD & CO. | $3K | 8.58% |
DAMD Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $2.4M | 47.68% |
| NOMURA SECURITIES INTERNATIONAL INC. | $2.0M | 40.28% |
| WELLS FARGO SECURITIES LLC | $309K | 6.11% |
| RBC CAPITAL MARKETS LLC | $150K | 2.96% |
| JEFFERIES LLC | $149K | 2.96% |
| U.S. BANCORP INVESTMENTS INC. | $997 | 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.