GSPY Fees and Costs — Gotham Enhanced 500 ETF
Data updated: 2026-08-25
The net expense ratio is 0.50% (0.65% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $120K in broker commissions, 0.0224% of average net assets, and portfolio turnover was 135%.
GSPY Fees and Expenses
Annual operating expenses and sales charges of GSPY. Prospectus, as of January 26, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.65% |
| Fee waiver | −0.15% |
| Net expense ratio | 0.50% |
| 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 |
GSPY Costs Over Time
On $10,000 invested in GSPY, assuming 5% a year before costs, total costs come to $330 over 5 years, cutting the return by 0.55% 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 0.50%) | $52 | $165 | $287 |
| Trading costs (broker commissions) | $2 | $7 | $13 |
| Lost growth on money paid in costs | $0 | $8 | $30 |
| Total costs | $55 | $180 | $330 |
| Value after costs | $10,445 | $11,396 | $12,433 |
| Impact on return, per year | 0.55% | 0.55% | 0.55% |
GSPY 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): 0.0224%
- Total broker commissions: $120K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 135%
- Securities on loan, average value: $11.7M
- Net income from securities lending: $21K (0.004% of average net assets)
GSPY Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $61K | 51.17% |
| NATIONAL FINANCIAL SERVICES LLC | $46K | 38.34% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $5K | 3.96% |
| ISI FINANCIAL GROUP INC | $3K | 2.76% |
| ROBERT W. BAIRD & CO. INCORPORATED | $2K | 1.70% |
| TELSEY ADVISORY GROUP LLC | $1K | 1.15% |
| MIRAE ASSET SECURITIES (USA) INC. | $942 | 0.79% |
| VIRTU FINANCIAL CAPITAL MARKETS LLC | $166 | 0.14% |
| PERSHING LLC | $0 | 0.00% |
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.