EHLS Fees and Costs — Even Herd Long Short ETF
Data updated: 2026-08-28
The net expense ratio is 3.35%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $122K in broker commissions, 0.2187% of average net assets, and portfolio turnover was 158%.
EHLS Fees and Expenses
Annual operating expenses and sales charges of EHLS. Prospectus, as of July 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.15% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 3.35% |
| Fee waiver | — |
| Net expense ratio | 3.35% |
| 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 |
EHLS Costs Over Time
On $10,000 invested in EHLS, assuming 5% a year before costs, total costs come to $2,120 over 5 years, cutting the return by 3.75% 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 3.35%) | $352 | $1,069 | $1,803 |
| Trading costs (broker commissions) | $23 | $70 | $118 |
| Lost growth on money paid in costs | $0 | $57 | $199 |
| Total costs | $375 | $1,196 | $2,120 |
| Value after costs | $10,125 | $10,381 | $10,642 |
| Impact on return, per year | 3.75% | 3.75% | 3.75% |
EHLS Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.2187%
- Total broker commissions: $122K
- Bought from dealers (principal trades, not a cost): $3.5M
- Portfolio turnover (prospectus): 158%
- Securities lending: none during the year
EHLS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| STONEX FINANCIAL INC. | $56K | 46.01% |
| ROBERT W. BAIRD & CO. INCORPORATED | $53K | 43.15% |
| PERSHING LLC | $4K | 3.66% |
| TELSEY ADVISORY GROUP LLC | $3K | 2.21% |
| GOLDMAN SACHS & CO. LLC | $2K | 1.86% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $2K | 1.73% |
| VIRTU FINANCIAL CAPITAL MARKETS LLC | $1K | 0.94% |
| MORGAN STANLEY & CO. LLC | $519 | 0.42% |
EHLS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BMO CAPITAL MARKETS CORP. | $3.5M | 99.86% |
| STONEX FINANCIAL INC. | $5K | 0.14% |
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.