HVAL Fees and Costs — ALPS Hillman Active Value ETF
Data updated: 2023-07-28
The net expense ratio is 0.55%. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $527 in broker commissions, 0.0081% of average net assets, and portfolio turnover was 33%.
HVAL Fees and Expenses
Annual operating expenses and sales charges of HVAL. Prospectus, as of March 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.55% |
| Fee waiver | — |
| Net expense ratio | 0.55% |
| 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 |
HVAL Costs Over Time
On $10,000 invested in HVAL, assuming 5% a year before costs, total costs come to $352 over 5 years, cutting the return by 0.59% 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 0.55%) | $58 | $181 | $315 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $59 | $193 | $352 |
| Value after costs | $10,441 | $11,384 | $12,411 |
| Impact on return, per year | 0.59% | 0.59% | 0.59% |
HVAL Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0081%
- Total broker commissions: $527
- Bought from dealers (principal trades, not a cost): $5.1M
- Portfolio turnover (prospectus): 33%
- Securities on loan, average value: $86K
- Net income from securities lending: $169 (0.003% of average net assets)
HVAL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MISCHLER FINANCIAL GROUP, INC. | $521 | 98.86% |
| RBC CAPITAL MARKETS, LLC | $6 | 1.14% |
HVAL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $3.5M | 69.07% |
| CITADEL SECURITIES LLC | $1.0M | 20.09% |
| VIRTU FINANCIAL CAPITAL MARKETS LLC | $556K | 10.84% |
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.