INVN Fees and Costs — Alger Russell Innovation ETF
Data updated: 2026-08-27
The net expense ratio is 0.55%: a 0.45% management fee plus 0.89% other expenses, less a 0.79% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $15K in broker commissions, 0.1197% of average net assets, and portfolio turnover was 68%.
INVN Fees and Expenses
Annual operating expenses and sales charges of INVN. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.89% |
| Gross expense ratio | 1.34% |
| Fee waiver | −0.79% |
| Net expense ratio | 0.55% |
| 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 |
INVN Costs Over Time
On $10,000 invested in INVN, assuming 5% a year before costs, total costs come to $422 over 5 years, cutting the return by 0.70% 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) | $13 | $39 | $68 |
| Lost growth on money paid in costs | $0 | $11 | $39 |
| Total costs | $70 | $231 | $422 |
| Value after costs | $10,430 | $11,345 | $12,341 |
| Impact on return, per year | 0.70% | 0.70% | 0.70% |
INVN Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1197%
- Total broker commissions: $15K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 68%
- Securities on loan, average value: $133K
- Net income from securities lending: $147 (0.001% of average net assets)
INVN Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $4K | 30.10% |
| J.P. Morgan Securities LLC | $4K | 27.73% |
| LPS Capital LLC | $4K | 27.36% |
| Fred Alger & Company, LLC | $2K | 14.30% |
| BTIG, LLC | $25 | 0.17% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $19 | 0.13% |
| EVERCORE GROUP LLC | $15 | 0.11% |
| MORGAN STANLEY & CO. LLC | $13 | 0.09% |
| Truist Securities, Inc. | $2 | 0.01% |
| Instinet LLC | $1 | 0.01% |
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.