GABF Fees and Costs — Gabelli Financial Services Opportunities ETF
Data updated: 2026-08-31
The net expense ratio is 1.24% (1.64% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $36K in broker commissions, 0.0903% of average net assets, and portfolio turnover was 31%.
GABF Fees and Expenses
Annual operating expenses and sales charges of GABF. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | — |
| Other expenses | — |
| Gross expense ratio | 1.64% |
| Fee waiver | −0.40% |
| Net expense ratio | 1.24% |
| 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 |
GABF Costs Over Time
On $10,000 invested in GABF, assuming 5% a year before costs, total costs come to $827 over 5 years, cutting the return by 1.40% 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 1.24%) | $130 | $405 | $700 |
| Trading costs (broker commissions) | $9 | $29 | $51 |
| Lost growth on money paid in costs | $0 | $22 | $76 |
| Total costs | $140 | $456 | $827 |
| Value after costs | $10,360 | $11,120 | $11,936 |
| Impact on return, per year | 1.40% | 1.40% | 1.40% |
GABF Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0903%
- Total broker commissions: $36K
- Bought from dealers (principal trades, not a cost): $31.0M
- Portfolio turnover (prospectus): 31%
- Securities lending: none during the year
GABF Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Stifel, Nicolaus & Company, Incorporated | $10K | 27.40% |
| Keefe, Bruyette & Woods, Inc. | $7K | 20.13% |
| J.P. Morgan Securities LLC | $6K | 18.54% |
| GOLDMAN SACHS & CO. LLC | $5K | 13.48% |
| UBS Securities LLC | $2K | 5.14% |
| MORGAN STANLEY & CO. LLC | $1K | 4.16% |
| MIRAE ASSET SECURITIES (USA) INC. | $1K | 3.56% |
| MISCHLER FINANCIAL GROUP, INC. | $1K | 3.52% |
| PIPER SANDLER & CO. | $925 | 2.64% |
| Cowen and Company, LLC | $500 | 1.43% |
GABF Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Mirae Asset Securities (USA) Inc. | $10.5M | 34.05% |
| GOLDMAN SACHS & CO. LLC | $8.2M | 26.50% |
| BARCLAYS CAPITAL, INC. | $5.7M | 18.50% |
| BMO CAPITAL MARKETS CORP. | $2.9M | 9.45% |
| BMO Nesbitt Burns Securities Ltd. | $1.8M | 5.71% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $1.4M | 4.40% |
| Bank of Montreal | $253K | 0.82% |
| Cowen and Company, LLC | $79K | 0.26% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $62K | 0.20% |
| Daiwa Capital Markets America, Inc. | $35K | 0.11% |
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.