HEGD Fees and Costs — Swan Hedged Equity US Large Cap ETF
Data updated: 2026-07-30
The net expense ratio is 0.87%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $121K in broker commissions, 0.0284% of average net assets, and portfolio turnover was 20%.
HEGD Fees and Expenses
Annual operating expenses and sales charges of HEGD. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.79% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.87% |
| Fee waiver | — |
| Net expense ratio | 0.87% |
| 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 |
HEGD Costs Over Time
On $10,000 invested in HEGD, assuming 5% a year before costs, total costs come to $563 over 5 years, cutting the return by 0.94% 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 0.87%) | $91 | $285 | $495 |
| Trading costs (broker commissions) | $3 | $9 | $16 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $94 | $309 | $563 |
| Value after costs | $10,406 | $11,267 | $12,200 |
| Impact on return, per year | 0.94% | 0.94% | 0.94% |
HEGD Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0284%
- Total broker commissions: $121K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 20%
- Securities lending: none during the year
HEGD Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JANE STREET EXECUTION SERVICES LLC | $86K | 71.32% |
| WALLACHBETH CAPITAL LLC | $33K | 27.65% |
| STONEX FINANCIAL INC. | $1K | 0.97% |
| DASH FINANCIAL TECHNOLOGIES LLC | $75 | 0.06% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.