IZRL Fees and Costs — ARK Israel Innovative Technology ETF
Data updated: 2026-10-06
The net expense ratio is 0.49%: a 0.48% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $312K in broker commissions, 0.2393% of average net assets, and portfolio turnover was 56%.
IZRL Fees and Expenses
Annual operating expenses and sales charges of IZRL. Prospectus, as of July 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.48% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.49% |
| Fee waiver | — |
| Net expense ratio | 0.49% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
IZRL Costs Over Time
On $10,000 invested in IZRL, assuming 5% a year before costs, total costs come to $459 over 5 years, cutting the return by 0.77% 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 0.49%) | $51 | $161 | $280 |
| Trading costs (broker commissions) | $25 | $79 | $137 |
| Lost growth on money paid in costs | $0 | $12 | $42 |
| Total costs | $77 | $251 | $459 |
| Value after costs | $10,423 | $11,325 | $12,304 |
| Impact on return, per year | 0.77% | 0.77% | 0.77% |
IZRL Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.2393%
- Total broker commissions: $312K
- Bought from dealers (principal trades, not a cost): $25.6M
- Portfolio turnover (prospectus): 56%
IZRL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG, LLC | $166K | 99.02% |
| GOLDMAN SACHS & CO. LLC | $1K | 0.85% |
| RBC CAPITAL MARKETS, LLC | $212 | 0.13% |
IZRL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UBS SECURITIES LLC | $12.8M | 72.35% |
| SatixFy Communications Ltd. | $2.4M | 13.86% |
| J.P. Morgan Securities LLC | $1.8M | 10.34% |
| VIRTU AMERICAS LLC | $609K | 3.45% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.