FAIL Fees and Costs — Cambria Global Tail Risk ETF
Data updated: 2024-12-19
The net expense ratio is 0.76%. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $148 in broker commissions, 0.0046% of average net assets, and portfolio turnover was 25%.
FAIL Fees and Expenses
Annual operating expenses and sales charges of FAIL. Prospectus, as of August 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.59% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.03% |
| Gross expense ratio | 0.76% |
| Fee waiver | — |
| Net expense ratio | 0.76% |
| 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 | No |
FAIL Costs Over Time
On $10,000 invested in FAIL, assuming 5% a year before costs, total costs come to $481 over 5 years, cutting the return by 0.80% 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 0.76%) | $80 | $250 | $434 |
| Trading costs (broker commissions) | $0 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $12 | $44 |
| Total costs | $80 | $264 | $481 |
| Value after costs | $10,420 | $11,313 | $12,282 |
| Impact on return, per year | 0.80% | 0.80% | 0.80% |
FAIL Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0046%
- Total broker commissions: $148
- Bought from dealers (principal trades, not a cost): $519K
- Portfolio turnover (prospectus): 25%
- Securities on loan, average value: $26K
- Net income from securities lending: $335 (0.010% of average net assets)
FAIL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| STONEX FINANCIAL INC. | $148 | 100.00% |
FAIL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| STONEX FINANCIAL INC. | $326K | 62.83% |
| ODEON CAPITAL GROUP LLC | $193K | 37.17% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.