GLOW Fees and Costs — VictoryShares WestEnd Global Equity ETF
Data updated: 2026-09-11
The net expense ratio is 0.72% (2.01% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $11K in broker commissions, 0.0350% of average net assets, and portfolio turnover was 37%.
GLOW Fees and Expenses
Annual operating expenses and sales charges of GLOW. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.52% |
| 12b-1 fee | — |
| Other expenses | 1.37% |
| Gross expense ratio | 2.01% |
| Fee waiver | −1.29% |
| Net expense ratio | 0.72% |
| 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 | Yes |
GLOW Costs Over Time
On $10,000 invested in GLOW, assuming 5% a year before costs, total costs come to $475 over 5 years, cutting the return by 0.79% 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 0.72%) | $76 | $236 | $411 |
| Trading costs (broker commissions) | $4 | $11 | $20 |
| Lost growth on money paid in costs | $0 | $12 | $43 |
| Total costs | $79 | $260 | $475 |
| Value after costs | $10,421 | $11,316 | $12,288 |
| Impact on return, per year | 0.79% | 0.79% | 0.79% |
GLOW 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): 0.0350%
- Total broker commissions: $11K
- Bought from dealers (principal trades, not a cost): $58.5M
- Portfolio turnover (prospectus): 37%
- Securities on loan, average value: $1.2M
- Net income from securities lending: $9K (0.029% of average net assets)
GLOW Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $5K | 45.42% |
| Wallachbeth Capital LLC | $2K | 19.32% |
| Morgan Stanley & Co. LLC | $2K | 16.04% |
| RBC Capital Markets, LLC | $993 | 8.96% |
| Goldman Sachs & Co. LLC | $514 | 4.64% |
| Citadel Securities LLC | $179 | 1.61% |
| Susquehanna Securities | $168 | 1.51% |
| Amerivet Securities, Inc. | $145 | 1.31% |
| Academy Securities Inc. | $81 | 0.73% |
| Barclays Capital Inc. | $50 | 0.45% |
GLOW Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $36.6M | 62.58% |
| Virtu Americas LLC | $10.9M | 18.61% |
| Jane Street Capital, LLC | $10.7M | 18.24% |
| RBC Capital Markets, LLC | $333K | 0.57% |
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.