IWMY Fees and Costs — Defiance R2000 Enhanced Options & 0DTE Income ETF
Data updated: 2026-07-27
The net expense ratio is 1.05%: a 0.99% management fee plus 0.06% other expenses. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $74K in broker commissions, 0.0646% of average net assets, and portfolio turnover was 5%.
IWMY Fees and Expenses
Annual operating expenses and sales charges of IWMY. Prospectus, as of December 17, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.99% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.06% |
| Gross expense ratio | 1.05% |
| Fee waiver | — |
| Net expense ratio | 1.05% |
| 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 |
IWMY Costs Over Time
On $10,000 invested in IWMY, assuming 5% a year before costs, total costs come to $696 over 5 years, cutting the return by 1.17% 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 1.05%) | $110 | $344 | $595 |
| Trading costs (broker commissions) | $7 | $21 | $37 |
| Lost growth on money paid in costs | $0 | $18 | $64 |
| Total costs | $117 | $383 | $696 |
| Value after costs | $10,383 | $11,193 | $12,067 |
| Impact on return, per year | 1.17% | 1.17% | 1.17% |
IWMY Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0646%
- Total broker commissions: $74K
- Bought from dealers (principal trades, not a cost): $29.0M
- Portfolio turnover (prospectus): 5%
- Securities lending: none during the year
IWMY Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $31K | 41.85% |
| JANE STREET EXECUTION SERVICES LLC | $24K | 32.36% |
| OLD MISSION MARKETS LLC | $12K | 16.63% |
| STONEX FINANCIAL INC. | $4K | 5.78% |
| CANTOR FITZGERALD & CO. | $2K | 3.39% |
IWMY Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. BANCORP INVESTMENTS INC. | $29.0M | 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.