IQSM Fees and Costs — NYLI Candriam U.S. Mid Cap Equity ETF
Data updated: 2026-09-25
The net expense ratio is 0.15%: a 0.15% management fee plus 0.01% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $86K in broker commissions, 0.0373% of average net assets, and portfolio turnover was 49%.
IQSM Fees and Expenses
Annual operating expenses and sales charges of IQSM. Prospectus, as of August 26, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.15% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.16% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.15% |
| 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 | No |
IQSM Costs Over Time
On $10,000 invested in IQSM, assuming 5% a year before costs, total costs come to $119 over 5 years, cutting the return by 0.20% 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 0.15%) | $16 | $50 | $87 |
| Trading costs (broker commissions) | $4 | $12 | $22 |
| Lost growth on money paid in costs | $0 | $3 | $11 |
| Total costs | $20 | $65 | $119 |
| Value after costs | $10,480 | $11,511 | $12,644 |
| Impact on return, per year | 0.20% | 0.20% | 0.20% |
IQSM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0373%
- Total broker commissions: $86K
- Bought from dealers (principal trades, not a cost): $193.0M
- Portfolio turnover (prospectus): 49%
- Securities on loan, average value: $7.8M
- Net income from securities lending: $28K (0.012% of average net assets)
IQSM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $43K | 50.39% |
| VIRTU AMERICAS LLC | $35K | 41.01% |
| INSTINET LLC | $6K | 6.63% |
| MISCHLER FINANCIAL GROUP, INC. | $2K | 1.98% |
IQSM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $73.4M | 38.24% |
| JANE STREET EXECUTION SERVICES, LLC | $64.0M | 33.37% |
| BOFA SECURITIES, INC. | $41.9M | 21.83% |
| GOLDMAN SACHS & CO. LLC | $3.4M | 1.78% |
| Exact Sciences Corporation | $2.4M | 1.27% |
| VIRTU AMERICAS LLC | $1.6M | 0.86% |
| JUNIPER NETWORKS, INC. | $1.4M | 0.72% |
| CONFLUENT INC-CLASS A | $1.4M | 0.71% |
| UNITED STATES STEEL CORPORATION | $1.3M | 0.69% |
| DAYFORCE INC | $1.0M | 0.54% |
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.