FIG Fees and Costs — Simplify Macro Strategy ETF
Data updated: 2025-05-23
The net expense ratio is 0.78% (1.03% before fee waivers). There are no sales loads or redemption fees. In fiscal 2024 the fund paid $25K in broker commissions, 0.0774% of average net assets, and portfolio turnover was 68%.
FIG Fees and Expenses
Annual operating expenses and sales charges of FIG. Prospectus, as of October 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.11% |
| Gross expense ratio | 1.03% |
| Fee waiver | −0.25% |
| Net expense ratio | 0.78% |
| 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 |
FIG Costs Over Time
On $10,000 invested in FIG, assuming 5% a year before costs, total costs come to $538 over 5 years, cutting the return by 0.90% 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 0.78%) | $82 | $256 | $444 |
| Trading costs (broker commissions) | $8 | $25 | $44 |
| Lost growth on money paid in costs | $0 | $14 | $49 |
| Total costs | $90 | $295 | $538 |
| Value after costs | $10,410 | $11,281 | $12,225 |
| Impact on return, per year | 0.90% | 0.90% | 0.90% |
FIG Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0774%
- Total broker commissions: $25K
- Bought from dealers (principal trades, not a cost): $54.3M
- Portfolio turnover (prospectus): 68%
- Securities lending: none during the year
FIG Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INTERACTIVE BROKERS, LLC | $17K | 67.30% |
| Jane Street Execution Services, LLC | $5K | 21.30% |
| STONEX FINANCIAL INC. | $2K | 7.40% |
| WallachBeth Capital LLC | $535 | 2.10% |
| Wolverine Execution Services LLC | $292 | 1.15% |
| UBS Securities LLC | $190 | 0.75% |
| VIRTU AMERICAS LLC | $2 | 0.01% |
FIG Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $12.4M | 22.83% |
| Jane Street Execution Services, LLC | $9.2M | 16.96% |
| BOFA SECURITIES, INC. | $8.8M | 16.23% |
| MORGAN STANLEY & CO. LLC | $7.5M | 13.89% |
| Wolverine Execution Services, LLC | $6.6M | 12.16% |
| BARCLAYS CAPITAL, INC. | $5.6M | 10.31% |
| VIRTUS CAPITAL MARKETS LLC | $2.5M | 4.58% |
| VIRTU AMERICAS LLC | $1.2M | 2.30% |
| STONEX FINANCIAL INC. | $396K | 0.73% |
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.