HEQT Fees and Costs — Simplify Hedged Equity ETF
Data updated: 2026-09-11
The net expense ratio is 0.43% (0.53% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $11K in broker commissions, 0.0036% of average net assets, and portfolio turnover was 5%.
HEQT Fees and Expenses
Annual operating expenses and sales charges of HEQT. Prospectus, as of November 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.53% |
| Fee waiver | −0.10% |
| Net expense ratio | 0.43% |
| 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 |
HEQT Costs Over Time
On $10,000 invested in HEQT, assuming 5% a year before costs, total costs come to $274 over 5 years, cutting the return by 0.46% 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 0.43%) | $45 | $142 | $247 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $7 | $25 |
| Total costs | $46 | $150 | $274 |
| Value after costs | $10,454 | $11,426 | $12,489 |
| Impact on return, per year | 0.46% | 0.46% | 0.46% |
HEQT Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0036%
- Total broker commissions: $11K
- Bought from dealers (principal trades, not a cost): $232.0M
- Portfolio turnover (prospectus): 5%
- Securities lending: none during the year
HEQT Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wolverine Execution Services LLC | $11K | 97.56% |
| VIRTU AMERICAS LLC | $279 | 2.44% |
HEQT Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JANE STREET EXECUTION SERVICES, LLC | $110.6M | 47.67% |
| BOFA SECURITIES, INC. | $59.7M | 25.73% |
| GOLDMAN SACHS & CO. LLC | $41.7M | 17.96% |
| VIRTU AMERICAS LLC | $20.0M | 8.63% |
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.