DSPC Fees and Costs — The De-SPAC ETF
Data updated: 2022-08-26
The net expense ratio is 0.75%: a 0.75% management fee plus 5.18% other expenses, less a 5.18% fee waiver. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $2K in broker commissions, 0.0758% of average net assets, and portfolio turnover was 44%.
DSPC Fees and Expenses
Annual operating expenses and sales charges of DSPC. Prospectus, as of January 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 5.18% |
| Gross expense ratio | 5.93% |
| Fee waiver | −5.18% |
| Net expense ratio | 0.75% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
DSPC Costs Over Time
On $10,000 invested in DSPC, assuming 5% a year before costs, total costs come to $518 over 5 years, cutting the return by 0.87% 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 0.75%) | $79 | $246 | $428 |
| Trading costs (broker commissions) | $8 | $25 | $43 |
| Lost growth on money paid in costs | $0 | $13 | $47 |
| Total costs | $87 | $284 | $518 |
| Value after costs | $10,413 | $11,292 | $12,244 |
| Impact on return, per year | 0.87% | 0.87% | 0.87% |
DSPC Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0758%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $5.3M
- Portfolio turnover (prospectus): 44%
- Securities on loan, average value: $73K
- Net income from securities lending: $10K (0.356% of average net assets)
DSPC Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG, LLC. | $2K | 96.49% |
| WALLACHBETH CAPITAL LLC | $73 | 3.51% |
DSPC Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BMO CAPITAL MARKETS CORP. | $5.3M | 100.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.