FTLS Fees and Costs — First Trust Long/Short Equity ETF
Data updated: 2026-09-24
The net expense ratio is 1.38%: a 0.95% management fee plus 0.43% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.6M in broker commissions, 0.0835% of average net assets, and portfolio turnover was 245%.
FTLS Fees and Expenses
Annual operating expenses and sales charges of FTLS. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.43% |
| Gross expense ratio | 1.38% |
| Fee waiver | — |
| Net expense ratio | 1.38% |
| 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 |
FTLS Costs Over Time
On $10,000 invested in FTLS, assuming 5% a year before costs, total costs come to $907 over 5 years, cutting the return by 1.54% 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 1.38%) | $145 | $450 | $776 |
| Trading costs (broker commissions) | $9 | $27 | $47 |
| Lost growth on money paid in costs | $0 | $24 | $84 |
| Total costs | $154 | $501 | $907 |
| Value after costs | $10,346 | $11,075 | $11,856 |
| Impact on return, per year | 1.54% | 1.54% | 1.54% |
FTLS Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0835%
- Total broker commissions: $1.6M
- Bought from dealers (principal trades, not a cost): $4.0B
- Portfolio turnover (prospectus): 245%
- Securities lending: none during the year
FTLS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG, LLC | $1.6M | 99.88% |
| GOLDMAN SACHS & CO. LLC | $2K | 0.12% |
FTLS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $3.3B | 82.98% |
| Jane Street Execution Services, LLC | $300.5M | 7.53% |
| VIRTU AMERICAS LLC | $232.7M | 5.83% |
| BOFA SECURITIES, INC. | $133.2M | 3.34% |
| INARI MEDICAL INC | $3.4M | 0.09% |
| RBC CAPITAL MARKETS, LLC | $3.4M | 0.08% |
| J.P. Morgan Securities LLC | $3.1M | 0.08% |
| Summit Materials, Inc | $3.0M | 0.07% |
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.