GVAL Fees and Costs — Cambria Global Value ETF
Data updated: 2026-09-28
The net expense ratio is 0.68%: a 0.59% management fee plus 0.09% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $235K in broker commissions, 0.0622% of average net assets, and portfolio turnover was 14%.
GVAL Fees and Expenses
Annual operating expenses and sales charges of GVAL. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.59% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.09% |
| Gross expense ratio | 0.68% |
| Fee waiver | — |
| Net expense ratio | 0.68% |
| 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 |
GVAL Costs Over Time
On $10,000 invested in GVAL, assuming 5% a year before costs, total costs come to $467 over 5 years, cutting the return by 0.78% 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 0.68%) | $71 | $223 | $388 |
| Trading costs (broker commissions) | $7 | $20 | $36 |
| Lost growth on money paid in costs | $0 | $12 | $43 |
| Total costs | $78 | $256 | $467 |
| Value after costs | $10,422 | $11,320 | $12,296 |
| Impact on return, per year | 0.78% | 0.78% | 0.78% |
GVAL Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0622%
- Total broker commissions: $235K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 14%
- Securities lending: none during the year
GVAL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| SCOTIA CAPITAL (USA) INC. | $77K | 32.87% |
| GOLDMAN SACHS & CO. LLC | $57K | 24.41% |
| CITIGROUP GLOBAL MARKETS INC. | $47K | 19.92% |
| AGORA CORRETORA DE TITULOS E VALORES MOBILIARIOS SA | $26K | 11.27% |
| J.P. MORGAN SECURITIES LLC | $13K | 5.70% |
| PERSHING LLC | $12K | 5.24% |
| IM TRUST S.A. CORREDORES DE BOLSA | $708 | 0.30% |
| ROBERT W. BAIRD & CO. INCORPORATED | $655 | 0.28% |
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.