DMBS Fees and Costs — DoubleLine Mortgage ETF
Data updated: 2026-08-20
The net expense ratio is 0.39%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $11K in broker commissions, 0.0027% of average net assets, and portfolio turnover was 247%.
DMBS Fees and Expenses
Annual operating expenses and sales charges of DMBS. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.39% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.39% |
| Fee waiver | — |
| Net expense ratio | 0.39% |
| 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 |
DMBS Costs Over Time
On $10,000 invested in DMBS, assuming 5% a year before costs, total costs come to $249 over 5 years, cutting the return by 0.41% 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 0.39%) | $41 | $129 | $224 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $6 | $23 |
| Total costs | $41 | $136 | $249 |
| Value after costs | $10,459 | $11,440 | $12,514 |
| Impact on return, per year | 0.41% | 0.41% | 0.41% |
DMBS 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): 0.0027%
- Total broker commissions: $11K
- Bought from dealers (principal trades, not a cost): $3.4B
- Portfolio turnover (prospectus): 247%
- Securities lending: none during the year
DMBS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $5K | 44.89% |
| J.P. Morgan Securities LLC | $2K | 22.74% |
| Goldman Sachs & Co. LLC | $2K | 21.31% |
| BofA Securities, Inc. | $1K | 9.49% |
| Morgan Stanley & Co. LLC | $110 | 1.00% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $62 | 0.57% |
DMBS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $1.1B | 34.60% |
| StoneX Financial, Inc | $1.1B | 32.73% |
| Morgan Stanley & Co. LLC | $387.4M | 11.78% |
| Barclays Capital, Inc. | $239.4M | 7.28% |
| Goldman Sachs & Co. LLC | $153.2M | 4.66% |
| Nomura Securities International, Inc. | $131.0M | 3.98% |
| Citigroup Global Markets Inc. | $53.1M | 1.62% |
| BMO Nesbitt Burns Securities Ltd. | $49.2M | 1.49% |
| BofA Securities, Inc. | $42.7M | 1.30% |
| MUFG Securities Americas Inc. | $18.9M | 0.57% |
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.