GLIX Fees and Costs — Lazard Listed Infrastructure ETF
Data updated: 2026-08-21
The net expense ratio is 0.96%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $3K in broker commissions, 0.0166% of average net assets, and portfolio turnover was 3%.
GLIX Fees and Expenses
Annual operating expenses and sales charges of GLIX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.96% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.96% |
| Fee waiver | — |
| Net expense ratio | 0.96% |
| 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 |
GLIX Costs Over Time
On $10,000 invested in GLIX, assuming 5% a year before costs, total costs come to $611 over 5 years, cutting the return by 1.03% 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 0.96%) | $101 | $315 | $546 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $0 | $16 | $56 |
| Total costs | $103 | $336 | $611 |
| Value after costs | $10,397 | $11,240 | $12,152 |
| Impact on return, per year | 1.03% | 1.03% | 1.03% |
GLIX 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): 0.0166%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $14.7M
- Portfolio turnover (prospectus): 3%
- Securities lending: none during the year
GLIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BNP Paribas Securities Corp. | $1K | 46.76% |
| Citadel Securities LLC | $609 | 21.61% |
| Macquarie Capital (USA) Inc. | $542 | 19.25% |
| National Bank of Canada Financial Inc. | $137 | 4.85% |
| Wells Fargo Securities, LLC | $56 | 1.98% |
| Goldman Sachs & Co. LLC | $53 | 1.88% |
| Canaccord Genuity LLC | $39 | 1.40% |
| TD Securities (USA) LLC | $28 | 0.99% |
| BMO Capital Markets Corp. | $19 | 0.69% |
| Sanford C. Bernstein & Co., LLC | $17 | 0.60% |
GLIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $10.9M | 74.53% |
| J.P. Morgan Securities LLC | $1.9M | 12.85% |
| Jane Street Capital, LLC | $1.9M | 12.62% |
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.