ERNZ Fees and Costs — TrueShares Active Yield ETF
Data updated: 2026-05-28
The net expense ratio is 3.25%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $585K in broker commissions, 0.4217% of average net assets, and portfolio turnover was 138%.
ERNZ Fees and Expenses
Annual operating expenses and sales charges of ERNZ. Prospectus, as of June 10, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 3.25% |
| Fee waiver | — |
| Net expense ratio | 3.25% |
| 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 |
ERNZ Costs Over Time
On $10,000 invested in ERNZ, assuming 5% a year before costs, total costs come to $2,177 over 5 years, cutting the return by 3.86% 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 3.25%) | $341 | $1,036 | $1,746 |
| Trading costs (broker commissions) | $44 | $134 | $227 |
| Lost growth on money paid in costs | $0 | $59 | $205 |
| Total costs | $386 | $1,229 | $2,177 |
| Value after costs | $10,114 | $10,347 | $10,586 |
| Impact on return, per year | 3.86% | 3.86% | 3.86% |
ERNZ Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.4217%
- Total broker commissions: $585K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 138%
- Securities lending: none during the year
ERNZ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $298K | 50.90% |
| WOLVERINE SECURITIES, LLC | $167K | 28.59% |
| BTIG, LLC | $120K | 20.51% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.