KEEX Fees and Costs — Defiance Daily Target 2x Long KEEL ETF
Data updated: 2026-09-28
The net expense ratio is 1.35%: a 1.29% management fee plus 0.06% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $2K in broker commissions, 0.1523% of average net assets, and portfolio turnover was 0%.
KEEX Fees and Expenses
Annual operating expenses and sales charges of KEEX. Prospectus, as of August 25, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.29% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.06% |
| Gross expense ratio | 1.35% |
| Fee waiver | — |
| Net expense ratio | 1.35% |
| 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 |
KEEX Costs Over Time
On $10,000 invested in KEEX, assuming 5% a year before costs, total costs come to $930 over 5 years, cutting the return by 1.58% 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 1.35%) | $142 | $440 | $759 |
| Trading costs (broker commissions) | $16 | $50 | $86 |
| Lost growth on money paid in costs | $0 | $24 | $86 |
| Total costs | $158 | $514 | $930 |
| Value after costs | $10,342 | $11,062 | $11,833 |
| Impact on return, per year | 1.58% | 1.58% | 1.58% |
KEEX 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): 0.1523%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $658K
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
KEEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MAREX CAPITAL MARKETS INC. | $2K | 69.35% |
| NATIONAL BANK OF CANADA FINANCIAL INC. | $573 | 24.78% |
| CANTOR FITZGERALD & CO. | $136 | 5.87% |
KEEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $159K | 24.23% |
| J.P. MORGAN SECURITIES LLC | $147K | 22.28% |
| RBC CAPITAL MARKETS LLC | $110K | 16.67% |
| WELLS FARGO SECURITIES LLC | $100K | 15.14% |
| NOMURA SECURITIES INTERNATIONAL INC. | $93K | 14.09% |
| PERSHING LLC | $50K | 7.59% |
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.