LCAP Fees and Costs — Principal Capital Appreciation Select ETF
Data updated: 2026-09-10
The net expense ratio is 0.29%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $20K in broker commissions, 0.0072% of average net assets, and portfolio turnover was 15%.
LCAP Fees and Expenses
Annual operating expenses and sales charges of LCAP. Prospectus, as of November 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.29% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.29% |
| Fee waiver | — |
| Net expense ratio | 0.29% |
| 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 |
LCAP Costs Over Time
On $10,000 invested in LCAP, assuming 5% a year before costs, total costs come to $189 over 5 years, cutting the return by 0.31% 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 0.29%) | $30 | $96 | $167 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $5 | $17 |
| Total costs | $31 | $103 | $189 |
| Value after costs | $10,469 | $11,473 | $12,574 |
| Impact on return, per year | 0.31% | 0.31% | 0.31% |
LCAP Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0072%
- Total broker commissions: $20K
- Bought from dealers (principal trades, not a cost): $1.9B
- Portfolio turnover (prospectus): 15%
- Securities on loan, average value: $60K
- Net income from securities lending: $60 (0.000% of average net assets)
LCAP Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $2K | 16.97% |
| J.P. Morgan Securities LLC | $2K | 14.76% |
| Goldman Sachs & Co. LLC | $2K | 11.61% |
| UBS Securities LLC | $1K | 9.92% |
| Citigroup Global Markets Inc. | $1K | 9.90% |
| CLSA Americas, LLC | $1K | 9.83% |
| Morgan Stanley & Co. LLC | $1K | 9.56% |
| Liquidnet, Inc. | $1K | 7.22% |
| BofA Securities, Inc. | $748 | 5.35% |
| Rosenblatt Securities Inc. | $684 | 4.89% |
LCAP Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| National Securities Clearing Corporation | $1.7B | 91.81% |
| State Street Bank and Trust Company | $152.7M | 8.19% |
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.