DAPP Fees and Costs — VanEck Digital Transformation ETF
Data updated: 2026-08-26
The net expense ratio is 0.52%: a 0.50% management fee plus 0.02% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $157K in broker commissions, 0.0771% of average net assets, and portfolio turnover was 74%.
DAPP Fees and Expenses
Annual operating expenses and sales charges of DAPP. Prospectus, as of February 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.02% |
| Gross expense ratio | 0.52% |
| Fee waiver | — |
| Net expense ratio | 0.52% |
| 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 |
DAPP Costs Over Time
On $10,000 invested in DAPP, assuming 5% a year before costs, total costs come to $377 over 5 years, cutting the return by 0.63% 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 0.52%) | $55 | $171 | $298 |
| Trading costs (broker commissions) | $8 | $25 | $44 |
| Lost growth on money paid in costs | $0 | $10 | $34 |
| Total costs | $63 | $206 | $377 |
| Value after costs | $10,437 | $11,370 | $12,386 |
| Impact on return, per year | 0.63% | 0.63% | 0.63% |
DAPP Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0771%
- Total broker commissions: $157K
- Bought from dealers (principal trades, not a cost): $432.4M
- Portfolio turnover (prospectus): 74%
- Securities on loan, average value: $53.7M
- Net income from securities lending: $1.2M (0.591% of average net assets)
DAPP Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $87K | 55.23% |
| Citigroup Global Markets Inc. | $23K | 14.95% |
| UBS Securities LLC | $16K | 10.16% |
| Morgan Stanley & Co. LLC | $16K | 10.03% |
| J.P. Morgan Securities LLC | $11K | 7.22% |
| Jefferies LLC | $4K | 2.38% |
| Goldman Sachs & Co. LLC | $43 | 0.03% |
DAPP Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Jane Street Capital, LLC | $110.6M | 25.58% |
| Goldman Sachs & Co. LLC | $84.5M | 19.54% |
| BofA Securities, Inc. | $77.2M | 17.86% |
| J.P. Morgan Securities LLC | $70.1M | 16.21% |
| UBS Securities LLC | $43.9M | 10.15% |
| Virtu Americas LLC | $34.9M | 8.06% |
| Mizuho Securities USA LLC | $11.2M | 2.60% |
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.