HSMV Fees and Costs — First Trust Horizon Managed Volatility Small/Mid ETF
Data updated: 2026-10-13
The net expense ratio is 0.80%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $6K in broker commissions, 0.0193% of average net assets, and portfolio turnover was 66%.
HSMV Fees and Expenses
Annual operating expenses and sales charges of HSMV. Prospectus, as of July 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.80% |
| Fee waiver | — |
| Net expense ratio | 0.80% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | — |
HSMV Costs Over Time
On $10,000 invested in HSMV, assuming 5% a year before costs, total costs come to $514 over 5 years, cutting the return by 0.86% 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 0.80%) | $84 | $263 | $456 |
| Trading costs (broker commissions) | $2 | $6 | $11 |
| Lost growth on money paid in costs | $0 | $13 | $47 |
| Total costs | $86 | $282 | $514 |
| Value after costs | $10,414 | $11,294 | $12,248 |
| Impact on return, per year | 0.86% | 0.86% | 0.86% |
HSMV Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0193%
- Total broker commissions: $6K
- Bought from dealers (principal trades, not a cost): $5.5M
- Portfolio turnover (prospectus): 66%
HSMV Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $3K | 51.44% |
| OLD MISSION MARKETS LLC | $3K | 45.22% |
| CITADEL SECURITIES LLC | $89 | 1.56% |
| BTIG, LLC | $56 | 0.99% |
| CANTOR FITZGERALD & CO. | $45 | 0.79% |
HSMV Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| ABN AMRO Clearing USA LLC | $3.7M | 66.58% |
| CITADEL SECURITIES LLC | $1.8M | 33.42% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.