DBMF Fees and Costs — iMGP DBI Managed Futures Strategy ETF
Data updated: 2026-08-26
The net expense ratio is 0.85%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $897K in broker commissions, 0.0623% of average net assets.
DBMF Fees and Expenses
Annual operating expenses and sales charges of DBMF. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.85% |
| Fee waiver | — |
| Net expense ratio | 0.85% |
| 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 |
DBMF Costs Over Time
On $10,000 invested in DBMF, assuming 5% a year before costs, total costs come to $572 over 5 years, cutting the return by 0.96% 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 0.85%) | $89 | $279 | $484 |
| Trading costs (broker commissions) | $7 | $20 | $35 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $96 | $314 | $572 |
| Value after costs | $10,404 | $11,262 | $12,191 |
| Impact on return, per year | 0.96% | 0.96% | 0.96% |
DBMF Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0623%
- Total broker commissions: $897K
- Bought from dealers (principal trades, not a cost): $25.3B
- Portfolio turnover (prospectus): —
- Securities on loan, average value: $56.7M
- Net income from securities lending: $44K (0.003% of average net assets)
DBMF Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| SG Americas Securities, LLC | $449K | 50.04% |
| Goldman Sachs & Co. LLC | $448K | 49.96% |
DBMF Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| National Financial Services LLC | $14.1B | 55.79% |
| State Street Bank and Trust Company | $10.0B | 39.45% |
| BMO Capital Markets Corp. | $1.1B | 4.27% |
| Citigroup Global Markets Inc. | $64.2M | 0.25% |
| Mizuho Securities USA LLC | $49.7M | 0.20% |
| J.P. Morgan Securities LLC | $11.7M | 0.05% |
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.