DFND Fees and Costs — Siren DIVCON Dividend Defender ETF
Data updated: 2025-11-24
The net expense ratio is 1.75%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $8K in broker commissions, 0.0785% of average net assets, and portfolio turnover was 115%.
DFND Fees and Expenses
Annual operating expenses and sales charges of DFND. Prospectus, as of July 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | — |
| Other expenses | 0.88% |
| Gross expense ratio | 1.75% |
| Fee waiver | — |
| Net expense ratio | 1.75% |
| 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 |
DFND Costs Over Time
On $10,000 invested in DFND, assuming 5% a year before costs, total costs come to $1,125 over 5 years, cutting the return by 1.92% 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 1.75%) | $184 | $568 | $977 |
| Trading costs (broker commissions) | $8 | $25 | $44 |
| Lost growth on money paid in costs | $0 | $30 | $104 |
| Total costs | $192 | $623 | $1,125 |
| Value after costs | $10,308 | $10,953 | $11,638 |
| Impact on return, per year | 1.92% | 1.92% | 1.92% |
DFND Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0785%
- Total broker commissions: $8K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 115%
- Securities lending: none during the year
DFND Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Paulson Investment Company LLC | $7K | 92.46% |
| Axos Clearing LLC | $594 | 7.54% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.