FMKT Fees and Costs — The Free Markets ETF
Data updated: 2026-09-22
The net expense ratio is 0.76%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $11K in broker commissions, 0.0652% of average net assets, and portfolio turnover was 169%.
FMKT Fees and Expenses
Annual operating expenses and sales charges of FMKT. Prospectus, as of September 22, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.76% |
| Fee waiver | — |
| Net expense ratio | 0.76% |
| 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 |
FMKT Costs Over Time
On $10,000 invested in FMKT, assuming 5% a year before costs, total costs come to $518 over 5 years, cutting the return by 0.87% 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 0.76%) | $80 | $249 | $433 |
| Trading costs (broker commissions) | $7 | $21 | $37 |
| Lost growth on money paid in costs | $0 | $13 | $47 |
| Total costs | $87 | $284 | $518 |
| Value after costs | $10,413 | $11,292 | $12,245 |
| Impact on return, per year | 0.87% | 0.87% | 0.87% |
FMKT Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0652%
- Total broker commissions: $11K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 169%
- Securities lending: none during the year
FMKT Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| ROBERT W. BAIRD & CO. INCORPORATED | $6K | 52.58% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $2K | 20.05% |
| GOLDMAN SACHS & CO. LLC | $916 | 8.43% |
| PERSHING LLC | $915 | 8.42% |
| MORGAN STANLEY & CO. LLC | $703 | 6.47% |
| J.P. MORGAN SECURITIES LLC | $255 | 2.34% |
| TELSEY ADVISORY GROUP LLC | $186 | 1.71% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.