ERM Fees and Costs — EquityCompass Risk Manager ETF
Data updated: 2023-07-27
The net expense ratio is 0.66%. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $5K in broker commissions, 0.0263% of average net assets, and portfolio turnover was 120%.
ERM Fees and Expenses
Annual operating expenses and sales charges of ERM. Prospectus, as of December 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.66% |
| Fee waiver | — |
| Net expense ratio | 0.66% |
| 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 |
ERM Costs Over Time
On $10,000 invested in ERM, assuming 5% a year before costs, total costs come to $432 over 5 years, cutting the return by 0.72% 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 0.66%) | $69 | $217 | $377 |
| Trading costs (broker commissions) | $3 | $9 | $15 |
| Lost growth on money paid in costs | $0 | $11 | $39 |
| Total costs | $72 | $237 | $432 |
| Value after costs | $10,428 | $11,340 | $12,331 |
| Impact on return, per year | 0.72% | 0.72% | 0.72% |
ERM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0263%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $5.0M
- Portfolio turnover (prospectus): 120%
- Securities lending: none during the year
ERM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG, LLC | $3K | 63.88% |
| CANTOR FITZGERALD & CO. | $1K | 18.85% |
| GOLDMAN SACHS & CO. LLC | $920 | 17.27% |
ERM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $5.0M | 100.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.