GIAX Fees and Costs — Nicholas Global Equity and Income ETF
Data updated: 2026-09-28
The net expense ratio is 1.03%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $27K in broker commissions, 0.0488% of average net assets, and portfolio turnover was 85%.
GIAX Fees and Expenses
Annual operating expenses and sales charges of GIAX. Prospectus, as of February 23, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 1.03% |
| Fee waiver | — |
| Net expense ratio | 1.03% |
| 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 |
GIAX Costs Over Time
On $10,000 invested in GIAX, assuming 5% a year before costs, total costs come to $674 over 5 years, cutting the return by 1.13% 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 1.03%) | $108 | $337 | $584 |
| Trading costs (broker commissions) | $5 | $16 | $28 |
| Lost growth on money paid in costs | $0 | $17 | $62 |
| Total costs | $113 | $371 | $674 |
| Value after costs | $10,387 | $11,206 | $12,089 |
| Impact on return, per year | 1.13% | 1.13% | 1.13% |
GIAX 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): 0.0488%
- Total broker commissions: $27K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 85%
- Securities lending: none during the year
GIAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| STONEX FINANCIAL INC. | $15K | 53.97% |
| JANE STREET EXECUTION SERVICES LLC | $6K | 20.89% |
| IMC-CHICAGO LLC | $2K | 6.68% |
| OLD MISSION MARKETS LLC | $2K | 6.40% |
| SUSQUEHANNA FINANCIAL GROUP LLLP | $2K | 5.92% |
| CITADEL SECURITIES LLC | $597 | 2.20% |
| SIGMA FINANCIAL CORPORATION | $451 | 1.66% |
| WELLS FARGO SECURITIES LLC | $292 | 1.07% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $288 | 1.06% |
| BOFA SECURITIES INC. | $40 | 0.15% |
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.