DEFN Fees and Costs — Emles Protective Allocation ETF
Data updated: 2021-11-26
The net expense ratio is 0.55%. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $4K in broker commissions, 0.0569% of average net assets.
DEFN Fees and Expenses
Annual operating expenses and sales charges of DEFN. Prospectus, as of September 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.55% |
| Fee waiver | — |
| Net expense ratio | 0.55% |
| 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 |
DEFN Costs Over Time
On $10,000 invested in DEFN, assuming 5% a year before costs, total costs come to $383 over 5 years, cutting the return by 0.64% 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 0.55%) | $58 | $181 | $315 |
| Trading costs (broker commissions) | $6 | $19 | $33 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $64 | $209 | $383 |
| Value after costs | $10,436 | $11,367 | $12,380 |
| Impact on return, per year | 0.64% | 0.64% | 0.64% |
DEFN Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0569%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $13.8M
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
DEFN Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INTL FCSTONE FINANCIAL INC. | $3K | 83.29% |
| GTS SECURITIES, LLC | $603 | 16.71% |
DEFN Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| FLOW TRADERS | $12.6M | 91.07% |
| HILLTOP SECURITIES INC. | $1.2M | 8.90% |
| INTL FCSTONE FINANCIAL INC. | $3K | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.