LBO Fees and Costs — WHITEWOLF Publicly Listed Private Equity ETF
Data updated: 2026-09-28
The net expense ratio is 6.53%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $2K in broker commissions, 0.0285% of average net assets, and portfolio turnover was 28%.
LBO Fees and Expenses
Annual operating expenses and sales charges of LBO. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 6.53% |
| Fee waiver | — |
| Net expense ratio | 6.53% |
| 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 |
LBO Costs Over Time
On $10,000 invested in LBO, assuming 5% a year before costs, total costs come to $3,671 over 5 years, cutting the return by 6.89% 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 6.53%) | $686 | $2,018 | $3,301 |
| Trading costs (broker commissions) | $3 | $9 | $14 |
| Lost growth on money paid in costs | $0 | $104 | $355 |
| Total costs | $689 | $2,132 | $3,671 |
| Value after costs | $9,811 | $9,445 | $9,092 |
| Impact on return, per year | 6.89% | 6.89% | 6.89% |
LBO Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending January 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0285%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 28%
- Securities on loan, average value: $119K
- Net income from securities lending: $2K (0.019% of average net assets)
LBO Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC CAPITAL MARKETS, LLC | $2K | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.