FPAS Fees and Costs — FPA Short Duration Government ETF
Data updated: 2026-08-19
The net expense ratio is 0.10%: a 0.25% management fee plus 8.65% other expenses, less a 8.80% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 228%.
FPAS Fees and Expenses
Annual operating expenses and sales charges of FPAS. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 8.65% |
| Gross expense ratio | 8.90% |
| Fee waiver | −8.80% |
| Net expense ratio | 0.10% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
FPAS Costs Over Time
On $10,000 invested in FPAS, assuming 5% a year before costs, total costs come to $64 over 5 years, cutting the return by 0.10% 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 0.10%) | $10 | $33 | $58 |
| Lost growth on money paid in costs | $0 | $2 | $6 |
| Total costs | $10 | $35 | $64 |
| Value after costs | $10,490 | $11,542 | $12,699 |
| Impact on return, per year | 0.10% | 0.10% | 0.10% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.