FDAT Fees and Costs — Tactical Advantage ETF
Data updated: 2026-08-28
The net expense ratio is 1.16%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $45K in broker commissions, 0.1346% of average net assets, and portfolio turnover was 547%.
FDAT Fees and Expenses
Annual operating expenses and sales charges of FDAT. Prospectus, as of July 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.64% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.39% |
| Gross expense ratio | 1.16% |
| Fee waiver | — |
| Net expense ratio | 1.16% |
| 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 |
FDAT Costs Over Time
On $10,000 invested in FDAT, assuming 5% a year before costs, total costs come to $805 over 5 years, cutting the return by 1.36% 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 1.16%) | $122 | $379 | $655 |
| Trading costs (broker commissions) | $14 | $44 | $76 |
| Lost growth on money paid in costs | $0 | $21 | $74 |
| Total costs | $136 | $444 | $805 |
| Value after costs | $10,364 | $11,132 | $11,958 |
| Impact on return, per year | 1.36% | 1.36% | 1.36% |
FDAT Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.1346%
- Total broker commissions: $45K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 547%
- Securities lending: none during the year
FDAT Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $22K | 48.70% |
| ROBERT W. BAIRD & CO. INCORPORATED | $15K | 32.29% |
| PERSHING LLC | $5K | 10.41% |
| VIRTU FINANCIAL CAPITAL MARKETS LLC | $2K | 3.89% |
| TELSEY ADVISORY GROUP LLC | $953 | 2.10% |
| MORGAN STANLEY & CO. LLC | $804 | 1.77% |
| CITADEL SECURITIES LLC | $277 | 0.61% |
| GOLDMAN SACHS & CO. LLC | $102 | 0.22% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.