IBIT Fees and Costs — Defiance Daily Short Digitizing the Economy ETF
Data updated: 2023-05-30
The net expense ratio is 4.70%: a 0.95% management fee plus 3.75% other expenses. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $1K in broker commissions, 0.1819% of average net assets.
IBIT Fees and Expenses
Annual operating expenses and sales charges of IBIT. Prospectus, as of July 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.00% |
| Other expenses | 3.75% |
| Gross expense ratio | 4.70% |
| Fee waiver | — |
| Net expense ratio | 4.70% |
| 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 |
IBIT Costs Over Time
On $10,000 invested in IBIT, assuming 5% a year before costs, total costs come to $2,826 over 5 years, cutting the return by 5.13% 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 4.70%) | $494 | $1,479 | $2,461 |
| Trading costs (broker commissions) | $19 | $57 | $95 |
| Lost growth on money paid in costs | $0 | $78 | $269 |
| Total costs | $513 | $1,614 | $2,826 |
| Value after costs | $9,987 | $9,962 | $9,937 |
| Impact on return, per year | 5.13% | 5.13% | 5.13% |
IBIT Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.1819%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $1.5M
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
IBIT Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BNP PARIBAS SECURITIES CORP. | $1K | 100.00% |
IBIT Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $746K | 50.01% |
| GOLDMAN SACHS & CO. LLC | $745K | 49.99% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.