DWMC Fees and Costs — AdvisorShares Dorsey Wright Small Company ETF
Data updated: 2023-11-21
The net expense ratio is 1.25%: a 0.75% management fee plus 1.20% other expenses, less a 0.70% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $21K in broker commissions, 0.3808% of average net assets.
DWMC Fees and Expenses
Annual operating expenses and sales charges of DWMC. Prospectus, as of October 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.20% |
| Gross expense ratio | 1.95% |
| Fee waiver | −0.70% |
| Net expense ratio | 1.25% |
| 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 |
DWMC Costs Over Time
On $10,000 invested in DWMC, assuming 5% a year before costs, total costs come to $1,007 over 5 years, cutting the return by 1.71% 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 1.25%) | $131 | $407 | $701 |
| Trading costs (broker commissions) | $40 | $124 | $214 |
| Lost growth on money paid in costs | $0 | $26 | $93 |
| Total costs | $171 | $557 | $1,007 |
| Value after costs | $10,329 | $11,019 | $11,756 |
| Impact on return, per year | 1.71% | 1.71% | 1.71% |
DWMC Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.3808%
- Total broker commissions: $21K
- Bought from dealers (principal trades, not a cost): $4.0M
- Portfolio turnover (prospectus): —
- Securities on loan, average value: $226K
- Net income from securities lending: $9K (0.163% of average net assets)
DWMC Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $21K | 100.00% |
DWMC Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $2.3M | 58.17% |
| VIRTU AMERICAS LLC | $1.7M | 41.83% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.