FIXD Fees and Costs — First Trust Smith Opportunistic Fixed Income ETF
Data updated: 2026-07-22
The net expense ratio is 0.65%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $960K in broker commissions, 0.0221% of average net assets, and portfolio turnover was 384%.
FIXD Fees and Expenses
Annual operating expenses and sales charges of FIXD. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.64% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.65% |
| Fee waiver | — |
| Net expense ratio | 0.65% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
FIXD Costs Over Time
On $10,000 invested in FIXD, assuming 5% a year before costs, total costs come to $423 over 5 years, cutting the return by 0.71% 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 0.65%) | $68 | $214 | $372 |
| Trading costs (broker commissions) | $2 | $7 | $13 |
| Lost growth on money paid in costs | $0 | $11 | $39 |
| Total costs | $71 | $232 | $423 |
| Value after costs | $10,429 | $11,344 | $12,340 |
| Impact on return, per year | 0.71% | 0.71% | 0.71% |
FIXD Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0221%
- Total broker commissions: $960K
- Bought from dealers (principal trades, not a cost): $37.9B
- Portfolio turnover (prospectus): 384%
- Securities lending: none during the year
FIXD Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Pershing LLC | $833K | 86.94% |
| GOLDMAN SACHS & CO. LLC | $68K | 7.06% |
| J.P. MORGAN SECURITIES LLC | $20K | 2.10% |
| MORGAN STANLEY & CO. LLC | $17K | 1.73% |
| CITIGROUP GLOBAL MARKETS INC. | $6K | 0.64% |
| CREDIT AGRICOLE SECURITIES (USA), INC. | $6K | 0.59% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $3K | 0.36% |
| CITADEL SECURITIES LLC | $2K | 0.23% |
| WELLS FARGO SECURITIES, LLC | $2K | 0.22% |
| BOFA SECURITIES, INC. | $1K | 0.11% |
FIXD Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $5.9B | 15.64% |
| MORGAN STANLEY & CO. LLC | $5.5B | 14.49% |
| GOLDMAN SACHS & CO. LLC | $4.7B | 12.41% |
| CitiGroup Global Markets Inc. | $4.2B | 10.98% |
| J.P. Morgan Securities LLC | $4.0B | 10.64% |
| CITADEL SECURITIES LLC | $3.8B | 10.11% |
| DEUTSCHE BANK SECURITIES, INC. | $3.6B | 9.52% |
| WELLS FARGO SECURITIES, LLC | $2.5B | 6.57% |
| Mizuho Securities USA LLC | $2.3B | 5.98% |
| BARCLAYS CAPITAL, INC. | $1.4B | 3.66% |
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.