GMAY Fees and Costs — FT Vest U.S. Equity Moderate Buffer ETF - May
Data updated: 2026-07-23
The net expense ratio is 0.85%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $35K in broker commissions, 0.0134% of average net assets, and portfolio turnover was 0%.
GMAY Fees and Expenses
Annual operating expenses and sales charges of GMAY. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.85% |
| Fee waiver | — |
| Net expense ratio | 0.85% |
| 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 |
GMAY Costs Over Time
On $10,000 invested in GMAY, assuming 5% a year before costs, total costs come to $542 over 5 years, cutting the return by 0.91% 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 0.85%) | $89 | $279 | $484 |
| Trading costs (broker commissions) | $1 | $4 | $8 |
| Lost growth on money paid in costs | $0 | $14 | $50 |
| Total costs | $91 | $297 | $542 |
| Value after costs | $10,409 | $11,279 | $12,221 |
| Impact on return, per year | 0.91% | 0.91% | 0.91% |
GMAY 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): 0.0134%
- Total broker commissions: $35K
- Bought from dealers (principal trades, not a cost): $773.7M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
GMAY Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| X-CHANGE FINANCIAL ACCESS, LLC | $25K | 71.92% |
| Wolverine Execution Services LLC | $10K | 28.08% |
GMAY Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $465.0M | 60.10% |
| Cowen and Company, LLC | $219.4M | 28.36% |
| BOFA SECURITIES, INC. | $85.7M | 11.08% |
| J.P. Morgan Securities LLC | $3.6M | 0.47% |
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.