ESN Fees and Costs — Essential 40 Stock ETF
Data updated: 2026-09-22
The net expense ratio is 0.70% (0.71% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $7K in broker commissions, 0.0040% of average net assets, and portfolio turnover was 7%.
ESN Fees and Expenses
Annual operating expenses and sales charges of ESN. Prospectus, as of September 22, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | — |
| Gross expense ratio | 0.71% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.70% |
| 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 |
ESN Costs Over Time
On $10,000 invested in ESN, assuming 5% a year before costs, total costs come to $443 over 5 years, cutting the return by 0.74% 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 0.70%) | $74 | $230 | $400 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $11 | $41 |
| Total costs | $74 | $243 | $443 |
| Value after costs | $10,426 | $11,333 | $12,320 |
| Impact on return, per year | 0.74% | 0.74% | 0.74% |
ESN Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0040%
- Total broker commissions: $7K
- Bought from dealers (principal trades, not a cost): $183.0M
- Portfolio turnover (prospectus): 7%
- Securities lending: none during the year
ESN Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GTS Mischler | $7K | 100.00% |
ESN Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $112.3M | 61.32% |
| BofA Securities, Inc. | $65.4M | 35.73% |
| Virtu Americas LLC | $5.4M | 2.94% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.