GGM Fees and Costs — GGM Macro Alignment ETF
Data updated: 2026-07-28
The net expense ratio is 0.94%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $22K in broker commissions, 0.1061% of average net assets, and portfolio turnover was 467%.
GGM Fees and Expenses
Annual operating expenses and sales charges of GGM. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.74% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.94% |
| Fee waiver | — |
| Net expense ratio | 0.94% |
| Sales charges | |
|---|---|
| Max front load | — |
| 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 |
GGM Costs Over Time
On $10,000 invested in GGM, assuming 5% a year before costs, total costs come to $654 over 5 years, cutting the return by 1.10% 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 0.94%) | $99 | $308 | $534 |
| Trading costs (broker commissions) | $11 | $35 | $60 |
| Lost growth on money paid in costs | $0 | $17 | $60 |
| Total costs | $110 | $360 | $654 |
| Value after costs | $10,390 | $11,217 | $12,109 |
| Impact on return, per year | 1.10% | 1.10% | 1.10% |
GGM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1061%
- Total broker commissions: $22K
- Bought from dealers (principal trades, not a cost): $65.6M
- Portfolio turnover (prospectus): 467%
- Securities lending: none during the year
GGM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MISCHLER FINANCIAL GROUP, INC. | $19K | 86.04% |
| JANE STREET EXECUTION SERVICES, LLC | $3K | 13.85% |
| CITADEL SECURITIES LLC | $26 | 0.12% |
GGM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS | $65.1M | 99.21% |
| BANK OF AMERICA MERRILL LYNCH | $522K | 0.79% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.