GPZ Fees and Costs — VanEck Alternative Asset Manager ETF
Data updated: 2026-08-26
The net expense ratio is 0.40%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $6K in broker commissions, 0.0111% of average net assets, and portfolio turnover was 5%.
GPZ Fees and Expenses
Annual operating expenses and sales charges of GPZ. Prospectus, as of February 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.40% |
| Fee waiver | — |
| Net expense ratio | 0.40% |
| 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 |
GPZ Costs Over Time
On $10,000 invested in GPZ, assuming 5% a year before costs, total costs come to $260 over 5 years, cutting the return by 0.43% 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 0.40%) | $42 | $132 | $230 |
| Trading costs (broker commissions) | $1 | $4 | $6 |
| Lost growth on money paid in costs | $0 | $7 | $24 |
| Total costs | $43 | $142 | $260 |
| Value after costs | $10,457 | $11,434 | $12,503 |
| Impact on return, per year | 0.43% | 0.43% | 0.43% |
GPZ Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0111%
- Total broker commissions: $6K
- Bought from dealers (principal trades, not a cost): $117.8M
- Portfolio turnover (prospectus): 5%
- Securities lending: none during the year
GPZ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $5K | 72.01% |
| J.P. Morgan Securities LLC | $923 | 14.68% |
| BofA Securities, Inc. | $575 | 9.15% |
| Jefferies LLC | $113 | 1.80% |
| Citigroup Global Markets Inc. | $85 | 1.35% |
| Morgan Stanley & Co. LLC | $45 | 0.71% |
| UBS Securities LLC | $19 | 0.30% |
GPZ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Jane Street Capital, LLC | $37.5M | 31.87% |
| Mizuho Securities USA LLC | $29.6M | 25.13% |
| BofA Securities, Inc. | $16.6M | 14.11% |
| Citigroup Global Markets Inc. | $9.3M | 7.88% |
| J.P. Morgan Securities LLC | $9.2M | 7.77% |
| UBS Securities LLC | $7.8M | 6.64% |
| Goldman Sachs & Co. LLC | $7.8M | 6.59% |
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.