DVLU Fees and Costs — First Trust Dorsey Wright Momentum & Value ETF
Data updated: 2026-08-21
The net expense ratio is 0.60%. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $13K in broker commissions, 0.0507% of average net assets, and portfolio turnover was 187%.
DVLU Fees and Expenses
Annual operating expenses and sales charges of DVLU. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.60% |
| Fee waiver | — |
| Net expense ratio | 0.60% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
DVLU Costs Over Time
On $10,000 invested in DVLU, assuming 5% a year before costs, total costs come to $410 over 5 years, cutting the return by 0.68% 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 0.60%) | $63 | $197 | $343 |
| Trading costs (broker commissions) | $5 | $17 | $29 |
| Lost growth on money paid in costs | $0 | $11 | $37 |
| Total costs | $68 | $225 | $410 |
| Value after costs | $10,432 | $11,352 | $12,353 |
| Impact on return, per year | 0.68% | 0.68% | 0.68% |
DVLU 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): 0.0507%
- Total broker commissions: $13K
- Bought from dealers (principal trades, not a cost): $57.9M
- Portfolio turnover (prospectus): 187%
- Securities lending: none during the year
DVLU Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG, LLC | $4K | 30.74% |
| MIZUHO SECURITIES USA LLC | $4K | 29.89% |
| BOFA SECURITIES, INC. | $3K | 20.52% |
| CANTOR FITZGERALD & CO. | $3K | 18.71% |
| CITADEL SECURITIES LLC | $8 | 0.06% |
| RBC CAPITAL MARKETS, LLC | $6 | 0.05% |
| OLD MISSION MARKETS LLC | $6 | 0.04% |
DVLU Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $28.7M | 49.59% |
| BOFA SECURITIES, INC. | $22.4M | 38.63% |
| CITADEL SECURITIES LLC | $6.8M | 11.78% |
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.