DIVP Fees and Costs — Cullen Enhanced Equity Income ETF
Data updated: 2026-08-28
The net expense ratio is 0.55%. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $8K in broker commissions, 0.1112% of average net assets, and portfolio turnover was 138%.
DIVP Fees and Expenses
Annual operating expenses and sales charges of DIVP. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | — |
| 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 |
DIVP Costs Over Time
On $10,000 invested in DIVP, assuming 5% a year before costs, total costs come to $416 over 5 years, cutting the return by 0.69% 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) | $12 | $37 | $64 |
| Lost growth on money paid in costs | $0 | $11 | $38 |
| Total costs | $69 | $228 | $416 |
| Value after costs | $10,431 | $11,348 | $12,346 |
| Impact on return, per year | 0.69% | 0.69% | 0.69% |
DIVP Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.1112%
- Total broker commissions: $8K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 138%
- Securities lending: none during the year
DIVP Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JANE STREET EXECUTION SERVICES | $6K | 77.63% |
| STONEX GROUP INC | $2K | 22.37% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.