GAEM Fees and Costs — Simplify Gamma Emerging Market Bond ETF
Data updated: 2026-09-11
The net expense ratio is 0.76%: a 0.95% management fee plus 0.01% other expenses, less a 0.20% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 131%.
GAEM Fees and Expenses
Annual operating expenses and sales charges of GAEM. Prospectus, as of November 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.96% |
| Fee waiver | −0.20% |
| Net expense ratio | 0.76% |
| 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 |
GAEM Costs Over Time
On $10,000 invested in GAEM, assuming 5% a year before costs, total costs come to $478 over 5 years, cutting the return by 0.80% 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 | $250 | $434 |
| Lost growth on money paid in costs | $0 | $12 | $44 |
| Total costs | $80 | $262 | $478 |
| Value after costs | $10,420 | $11,314 | $12,285 |
| Impact on return, per year | 0.80% | 0.80% | 0.80% |
GAEM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $153.8M
- Portfolio turnover (prospectus): 131%
- Securities lending: none during the year
GAEM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CitiGroup Global Markets Inc. | $53.7M | 34.92% |
| MARKETAXESS CORPORATION | $49.2M | 31.96% |
| J.P. Morgan Securities LLC | $20.4M | 13.29% |
| BOFA SECURITIES, INC. | $17.6M | 11.44% |
| AV Securities Inc | $11.2M | 7.31% |
| Seminario Securities LLC | $1.3M | 0.81% |
| STATE STREET GLOBAL MARKETS, LLC | $406K | 0.26% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.