IVES Fees and Costs — Dan IVES Wedbush AI Revolution ETF
Data updated: 2026-09-23
The net expense ratio is 0.75%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $52K in broker commissions, 0.0072% of average net assets, and portfolio turnover was 37%.
IVES Fees and Expenses
Annual operating expenses and sales charges of IVES. Prospectus, as of April 30, 2026.
| 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 |
IVES Costs Over Time
On $10,000 invested in IVES, assuming 5% a year before costs, total costs come to $476 over 5 years, cutting the return by 0.80% 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) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $12 | $44 |
| Total costs | $80 | $261 | $476 |
| Value after costs | $10,420 | $11,315 | $12,287 |
| Impact on return, per year | 0.80% | 0.80% | 0.80% |
IVES 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): 0.0072%
- Total broker commissions: $52K
- Bought from dealers (principal trades, not a cost): $1.5B
- Portfolio turnover (prospectus): 37%
- Securities lending: none during the year
IVES Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $28K | 54.39% |
| BTIG, LLC | $22K | 42.80% |
| BNY MELLON CAPITAL MARKETS, LLC | $1K | 2.81% |
IVES Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $547.1M | 36.33% |
| VIRTU AMERICAS LLC | $529.9M | 35.18% |
| Jane Street Execution Services, LLC | $324.4M | 21.54% |
| Mirae Asset Securities (USA) Inc. | $52.4M | 3.48% |
| BOFA SECURITIES, INC. | $52.3M | 3.47% |
| BTIG LLC | $36K | 0.00% |
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.