HFMF Fees and Costs — Unlimited HFMF Managed Futures ETF
Data updated: 2026-07-29
The net expense ratio is 0.97%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1K in broker commissions, 0.0816% of average net assets, and portfolio turnover was 0%.
HFMF Fees and Expenses
Annual operating expenses and sales charges of HFMF. Prospectus, as of December 23, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.97% |
| Fee waiver | — |
| Net expense ratio | 0.97% |
| 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 |
HFMF Costs Over Time
On $10,000 invested in HFMF, assuming 5% a year before costs, total costs come to $657 over 5 years, cutting the return by 1.10% 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 0.97%) | $102 | $318 | $551 |
| Trading costs (broker commissions) | $9 | $27 | $46 |
| Lost growth on money paid in costs | $0 | $17 | $60 |
| Total costs | $110 | $361 | $657 |
| Value after costs | $10,390 | $11,215 | $12,106 |
| Impact on return, per year | 1.10% | 1.10% | 1.10% |
HFMF Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0816%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
HFMF Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PHILLIP CAPITAL, INC. | $910 | 65.89% |
| SNC CAPITAL MANAGEMENT CORP. | $382 | 27.66% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $45 | 3.22% |
| PERSHING LLC | $45 | 3.22% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.