DEMZ Fees and Costs — Democratic Large Cap Core ETF
Data updated: 2026-08-28
The net expense ratio is 0.45%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2K in broker commissions, 0.0048% of average net assets, and portfolio turnover was 29%.
DEMZ Fees and Expenses
Annual operating expenses and sales charges of DEMZ. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.45% |
| Fee waiver | — |
| Net expense ratio | 0.45% |
| 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 |
DEMZ Costs Over Time
On $10,000 invested in DEMZ, assuming 5% a year before costs, total costs come to $288 over 5 years, cutting the return by 0.48% 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 0.45%) | $47 | $148 | $259 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $7 | $26 |
| Total costs | $48 | $157 | $288 |
| Value after costs | $10,452 | $11,419 | $12,475 |
| Impact on return, per year | 0.48% | 0.48% | 0.48% |
DEMZ 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): 0.0048%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 29%
- Securities lending: none during the year
DEMZ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU FINANCIAL LLC | $933 | 46.58% |
| BTIG | $604 | 30.15% |
| MIRAE ASSET SECURITIES | $452 | 22.57% |
| MISCHLER FINANCIAL | $14 | 0.70% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.