DUDE Fees and Costs — Merlyn.AI SectorSurfer Momentum ETF
Data updated: 2023-12-14
The net expense ratio is 1.09% (1.49% before fee waivers). There are no sales loads or redemption fees. In fiscal 2023 the fund paid $103K in broker commissions, 0.3459% of average net assets, and portfolio turnover was 668%.
DUDE Fees and Expenses
Annual operating expenses and sales charges of DUDE. Prospectus, as of January 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 1.49% |
| Fee waiver | −0.40% |
| Net expense ratio | 1.09% |
| 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 | No |
DUDE Costs Over Time
On $10,000 invested in DUDE, assuming 5% a year before costs, total costs come to $890 over 5 years, cutting the return by 1.51% 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 1.09%) | $114 | $355 | $614 |
| Trading costs (broker commissions) | $36 | $113 | $195 |
| Lost growth on money paid in costs | $0 | $23 | $82 |
| Total costs | $151 | $492 | $890 |
| Value after costs | $10,349 | $11,085 | $11,872 |
| Impact on return, per year | 1.51% | 1.51% | 1.51% |
DUDE Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.3459%
- Total broker commissions: $103K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 668%
- Securities on loan, average value: $3.0M
- Net income from securities lending: $48K (0.160% of average net assets)
DUDE Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MISCHLER FINANCIAL GROUP, INC. | $83K | 80.10% |
| RBC CAPITAL MARKETS, LLC | $13K | 12.39% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $8K | 7.51% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.