FIW Fees and Costs — First Trust Water ETF
Data updated: 2026-08-21
The net expense ratio is 0.50%: a 0.40% management fee plus 0.10% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $89K in broker commissions, 0.0048% of average net assets, and portfolio turnover was 14%.
FIW Fees and Expenses
Annual operating expenses and sales charges of FIW. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.10% |
| Gross expense ratio | 0.50% |
| Fee waiver | — |
| Net expense ratio | 0.50% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
FIW Costs Over Time
On $10,000 invested in FIW, assuming 5% a year before costs, total costs come to $319 over 5 years, cutting the return by 0.53% 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 0.50%) | $52 | $165 | $287 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $8 | $29 |
| Total costs | $53 | $174 | $319 |
| Value after costs | $10,447 | $11,402 | $12,444 |
| Impact on return, per year | 0.53% | 0.53% | 0.53% |
FIW Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0048%
- Total broker commissions: $89K
- Bought from dealers (principal trades, not a cost): $420.9M
- Portfolio turnover (prospectus): 14%
- Securities on loan, average value: $3.1M
- Net income from securities lending: $128K (0.007% of average net assets)
FIW Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $57K | 63.50% |
| SUSQUEHANNA FINANCIAL GROUP, LLLP | $32K | 35.66% |
| CANTOR FITZGERALD & CO. | $526 | 0.59% |
| BOFA SECURITIES, INC. | $105 | 0.12% |
| J.P. MORGAN SECURITIES LLC | $60 | 0.07% |
| RBC CAPITAL MARKETS, LLC | $58 | 0.07% |
FIW Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $265.9M | 63.17% |
| CITADEL SECURITIES LLC | $47.3M | 11.25% |
| JANE STREET CAPITAL, LLC | $41.6M | 9.89% |
| VIRTU AMERICAS LLC | $38.1M | 9.06% |
| RBC CAPITAL MARKETS, LLC | $16.8M | 3.99% |
| GOLDMAN SACHS & CO. LLC | $11.1M | 2.65% |
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.