FWD Fees and Costs — AB Disruptors ETF
Data updated: 2026-07-24
The net expense ratio is 0.65%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $545K in broker commissions, 0.0689% of average net assets, and portfolio turnover was 196%.
FWD Fees and Expenses
Annual operating expenses and sales charges of FWD. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 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 | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
FWD Costs Over Time
On $10,000 invested in FWD, assuming 5% a year before costs, total costs come to $452 over 5 years, cutting the return by 0.75% 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 | $371 |
| Trading costs (broker commissions) | $7 | $23 | $39 |
| Lost growth on money paid in costs | $0 | $12 | $41 |
| Total costs | $75 | $248 | $452 |
| Value after costs | $10,425 | $11,328 | $12,311 |
| Impact on return, per year | 0.75% | 0.75% | 0.75% |
FWD Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0689%
- Total broker commissions: $545K
- Bought from dealers (principal trades, not a cost): $1.9B
- Portfolio turnover (prospectus): 196%
- Securities on loan, average value: $2.9M
- Net income from securities lending: $295K (0.037% of average net assets)
FWD Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $82K | 16.72% |
| J.P. Morgan Securities LLC | $79K | 16.04% |
| Morgan Stanley & Co. LLC | $68K | 13.81% |
| BofA Securities, Inc. | $66K | 13.53% |
| UBS Securities LLC | $66K | 13.46% |
| Jefferies LLC | $64K | 13.12% |
| Citigroup Global Markets Inc. | $21K | 4.23% |
| Barclays Capital Inc. | $20K | 4.16% |
| Wells Fargo Securities, LLC | $13K | 2.67% |
| National Financial Services LLC | $11K | 2.25% |
FWD Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.2B | 61.79% |
| J.P. Morgan Securities LLC | $453.4M | 23.97% |
| Goldman Sachs & Co. LLC | $120.4M | 6.36% |
| UBS Securities LLC | $47.1M | 2.49% |
| BofA Securities, Inc. | $33.6M | 1.77% |
| Jane Street Capital, LLC | $27.7M | 1.46% |
| Mizuho Securities USA LLC | $17.7M | 0.93% |
| Citigroup Global Markets Inc. | $17.4M | 0.92% |
| Morgan Stanley & Co. LLC | $4.2M | 0.22% |
| Jefferies LLC | $1.5M | 0.08% |
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.