IFLO Fees and Costs — VictoryShares International Free Cash Flow ETF
Data updated: 2026-09-11
The net expense ratio is 0.56%: a 0.50% management fee plus 0.55% other expenses, less a 0.49% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $302K in broker commissions, 0.2656% of average net assets, and portfolio turnover was 0%.
IFLO Fees and Expenses
Annual operating expenses and sales charges of IFLO. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.55% |
| Gross expense ratio | 1.05% |
| Fee waiver | −0.49% |
| Net expense ratio | 0.56% |
| 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 | Yes |
IFLO Costs Over Time
On $10,000 invested in IFLO, assuming 5% a year before costs, total costs come to $518 over 5 years, cutting the return by 0.87% 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 0.56%) | $59 | $184 | $319 |
| Trading costs (broker commissions) | $28 | $87 | $151 |
| Lost growth on money paid in costs | $0 | $13 | $47 |
| Total costs | $87 | $284 | $518 |
| Value after costs | $10,413 | $11,292 | $12,245 |
| Impact on return, per year | 0.87% | 0.87% | 0.87% |
IFLO 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): 0.2656%
- Total broker commissions: $302K
- Bought from dealers (principal trades, not a cost): $311.8M
- Portfolio turnover (prospectus): 0%
- Securities on loan, average value: $871K
- Net income from securities lending: $5K (0.004% of average net assets)
IFLO Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $188K | 62.19% |
| J.P. Morgan Securities LLC | $107K | 35.42% |
| UBS Securities LLC | $4K | 1.39% |
| RBC Capital Markets, LLC | $2K | 0.59% |
| Citigroup Global Markets Inc. | $587 | 0.19% |
| Goldman Sachs & Co. LLC | $304 | 0.10% |
| HSBC Securities (USA) Inc. | $235 | 0.08% |
| BNP Paribas Securities Corp. | $97 | 0.03% |
| Jefferies LLC | $47 | 0.02% |
IFLO Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $123.2M | 39.53% |
| BofA Securities, Inc. | $121.1M | 38.84% |
| Jane Street Capital, LLC | $67.4M | 21.63% |
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.