IPAY Fees and Costs — ETFMG Prime Mobile Payments ETF
Data updated: 2024-02-28
The net expense ratio is 0.75%. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $119K in broker commissions, 0.0257% of average net assets, and portfolio turnover was 35%.
IPAY Fees and Expenses
Annual operating expenses and sales charges of IPAY. Prospectus, as of January 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.75% |
| Fee waiver | — |
| Net expense ratio | 0.75% |
| 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 |
IPAY Costs Over Time
On $10,000 invested in IPAY, assuming 5% a year before costs, total costs come to $487 over 5 years, cutting the return by 0.81% 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 0.75%) | $79 | $246 | $428 |
| Trading costs (broker commissions) | $3 | $8 | $15 |
| Lost growth on money paid in costs | $0 | $13 | $45 |
| Total costs | $81 | $267 | $487 |
| Value after costs | $10,419 | $11,309 | $12,275 |
| Impact on return, per year | 0.81% | 0.81% | 0.81% |
IPAY Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0257%
- Total broker commissions: $119K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 35%
- Securities on loan, average value: $100.7M
- Net income from securities lending: $93K (0.020% of average net assets)
IPAY Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Mizuho Securities USA, Miziho Securities USA Inc, BNY/Mizuho Securities USA Inc., Mizuho Trust & Banking Co. | $64K | 54.38% |
| MIRAE ASSET SECURITIES (USA) INC. | $23K | 19.12% |
| Merrill Lynch Inc, BAML, Banc of America Capital Management Inc., Bank of America, Bank of America N.A. | $22K | 18.26% |
| Baypoint Trading LLC/Bass Trading, Bass Trading, BTIG LLC | $6K | 4.91% |
| UBS Asset Management (Americas) Inc. | $2K | 1.63% |
| CREDIT SUISSE | $1K | 1.00% |
| PSG Executions Inc. | $423 | 0.36% |
| Goldman Sachs & Co, Benchmark, Benchmark Asset Management Inc, Benchmark Co. Inc. (The) | $413 | 0.35% |
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.