EOPS Fees and Costs — Emles Alpha Opportunities ETF
Data updated: 2022-11-29
The net expense ratio is 1.95%: a 1.75% management fee plus 0.20% other expenses. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $152K in broker commissions, 0.2649% of average net assets, and portfolio turnover was 0%.
EOPS Fees and Expenses
Annual operating expenses and sales charges of EOPS. Prospectus, as of October 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 1.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.20% |
| Gross expense ratio | 1.95% |
| Fee waiver | — |
| Net expense ratio | 1.95% |
| 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 |
EOPS Costs Over Time
On $10,000 invested in EOPS, assuming 5% a year before costs, total costs come to $1,352 over 5 years, cutting the return by 2.33% 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 1.95%) | $205 | $631 | $1,080 |
| Trading costs (broker commissions) | $28 | $86 | $147 |
| Lost growth on money paid in costs | $0 | $36 | $125 |
| Total costs | $233 | $752 | $1,352 |
| Value after costs | $10,267 | $10,824 | $11,411 |
| Impact on return, per year | 2.33% | 2.33% | 2.33% |
EOPS Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.2649%
- Total broker commissions: $152K
- Bought from dealers (principal trades, not a cost): $32.5M
- Portfolio turnover (prospectus): 0%
- Securities on loan, average value: $2.1M
- Net income from securities lending: $9K (0.015% of average net assets)
EOPS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GTS Securities, LLC | $85K | 55.52% |
| StoneX Financial Inc. | $58K | 38.02% |
| Mischler Financial Group, Inc. | $7K | 4.39% |
| Stern Brothers & Co. | $3K | 2.07% |
EOPS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BMO Capital Markets Corp. | $28.4M | 87.41% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $3.9M | 11.97% |
| GTS Securities, LLC | $201K | 0.62% |
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.