GVLU Fees and Costs — Gotham 1000 Value 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 $164K in broker commissions, 0.0891% of average net assets, and portfolio turnover was 210%.
GVLU Fees and Expenses
Annual operating expenses and sales charges of GVLU. 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 |
GVLU Costs Over Time
On $10,000 invested in GVLU, assuming 5% a year before costs, total costs come to $372 over 5 years, cutting the return by 0.62% 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) | $9 | $29 | $51 |
| Lost growth on money paid in costs | $0 | $10 | $34 |
| Total costs | $62 | $203 | $372 |
| Value after costs | $10,438 | $11,373 | $12,391 |
| Impact on return, per year | 0.62% | 0.62% | 0.62% |
GVLU 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): 0.0891%
- Total broker commissions: $164K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 210%
- Securities on loan, average value: $25.2M
- Net income from securities lending: $64K (0.035% of average net assets)
GVLU Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $78K | 47.19% |
| NATIONAL FINANCIAL SERVICES LLC | $57K | 34.95% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $14K | 8.80% |
| TELSEY ADVISORY GROUP LLC | $6K | 3.37% |
| ROBERT W. BAIRD & CO. INCORPORATED | $4K | 2.44% |
| ISI FINANCIAL GROUP INC | $3K | 1.57% |
| MIRAE ASSET SECURITIES (USA) INC. | $2K | 1.43% |
| VIRTU FINANCIAL CAPITAL MARKETS LLC | $402 | 0.24% |
| PERSHING LLC | $22 | 0.01% |
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.