ITEQ Fees and Costs — BlueStar Israel Technology 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 $40K in broker commissions, 0.0379% of average net assets, and portfolio turnover was 25%.
ITEQ Fees and Expenses
Annual operating expenses and sales charges of ITEQ. 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 |
ITEQ Costs Over Time
On $10,000 invested in ITEQ, assuming 5% a year before costs, total costs come to $495 over 5 years, cutting the return by 0.83% 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) | $4 | $12 | $22 |
| Lost growth on money paid in costs | $0 | $13 | $45 |
| Total costs | $83 | $271 | $495 |
| Value after costs | $10,417 | $11,305 | $12,268 |
| Impact on return, per year | 0.83% | 0.83% | 0.83% |
ITEQ 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): 0.0379%
- Total broker commissions: $40K
- Bought from dealers (principal trades, not a cost): $38K
- Portfolio turnover (prospectus): 25%
- Securities on loan, average value: $24.9M
- Net income from securities lending: $394K (0.372% of average net assets)
ITEQ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MIRAE ASSET SECURITIES (USA) INC. | $26K | 64.22% |
| Merrill Lynch Inc, BAML, Banc of America Capital Management Inc., Bank of America, Bank of America N.A. | $14K | 34.44% |
| Mizuho Securities USA, Miziho Securities USA Inc, BNY/Mizuho Securities USA Inc., Mizuho Trust & Banking Co. | $406 | 1.01% |
| Baypoint Trading LLC/Bass Trading, Bass Trading, BTIG LLC | $130 | 0.32% |
ITEQ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Mizuho Securities USA, Miziho Securities USA Inc, BNY/Mizuho Securities USA Inc., Mizuho Trust & Banking Co. | $38K | 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.