FFIU Fees and Costs — UVA Unconstrained Medium-Term Fixed Income ETF
Data updated: 2026-09-11
The net expense ratio is 0.54% (0.82% before fee waivers). There are no sales loads or redemption fees. Portfolio turnover was 12%.
FFIU Fees and Expenses
Annual operating expenses and sales charges of FFIU. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | — |
| Other expenses | 0.53% |
| Gross expense ratio | 0.82% |
| Fee waiver | −0.28% |
| Net expense ratio | 0.54% |
| 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 |
FFIU Costs Over Time
On $10,000 invested in FFIU, assuming 5% a year before costs, total costs come to $341 over 5 years, cutting the return by 0.57% 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 0.54%) | $57 | $178 | $310 |
| Lost growth on money paid in costs | $0 | $9 | $31 |
| Total costs | $57 | $187 | $341 |
| Value after costs | $10,443 | $11,390 | $12,422 |
| Impact on return, per year | 0.57% | 0.57% | 0.57% |
FFIU Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $44.2M
- Portfolio turnover (prospectus): 12%
- Securities lending: none during the year
FFIU Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UMB Bank, n.a. | $33.9M | 76.69% |
| Morgan Stanley & Co. LLC | $10.3M | 23.31% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.