IPOS Fees and Costs — Renaissance International IPO ETF
Data updated: 2026-08-25
The net expense ratio is 0.80%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $5K in broker commissions, 0.1098% of average net assets, and portfolio turnover was 68%.
IPOS Fees and Expenses
Annual operating expenses and sales charges of IPOS. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.80% |
| Fee waiver | — |
| Net expense ratio | 0.80% |
| 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 |
IPOS Costs Over Time
On $10,000 invested in IPOS, assuming 5% a year before costs, total costs come to $570 over 5 years, cutting the return by 0.96% 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 0.80%) | $84 | $262 | $455 |
| Trading costs (broker commissions) | $12 | $36 | $63 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $96 | $313 | $570 |
| Value after costs | $10,404 | $11,263 | $12,193 |
| Impact on return, per year | 0.96% | 0.96% | 0.96% |
IPOS Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1098%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $634K
- Portfolio turnover (prospectus): 68%
- Securities on loan, average value: $650K
- Net income from securities lending: $28K (0.646% of average net assets)
IPOS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Deutsche Bank Securities Inc. | $4K | 81.54% |
| CLSA Americas, LLC | $433 | 8.98% |
| Nomura Securities International, Inc. | $344 | 7.12% |
| Fidelity Brokerage Services LLC | $68 | 1.41% |
| Citigroup Global Markets Inc. | $38 | 0.78% |
| J.P. Morgan Securities LLC | $8 | 0.17% |
IPOS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $634K | 100.00% |
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.