LLYX Fees and Costs — Defiance Daily Target 2X Long LLY ETF
Data updated: 2026-09-28
The net expense ratio is 1.49%: a 1.29% management fee plus 0.19% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $550K in broker commissions, 1.0868% of average net assets, and portfolio turnover was 1232%.
LLYX Fees and Expenses
Annual operating expenses and sales charges of LLYX. Prospectus, as of August 24, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.29% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.19% |
| Gross expense ratio | 1.49% |
| Fee waiver | — |
| Net expense ratio | 1.49% |
| 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 |
LLYX Costs Over Time
On $10,000 invested in LLYX, assuming 5% a year before costs, total costs come to $1,562 over 5 years, cutting the return by 2.71% 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 1.49%) | $156 | $480 | $819 |
| Trading costs (broker commissions) | $114 | $350 | $597 |
| Lost growth on money paid in costs | $0 | $42 | $145 |
| Total costs | $271 | $872 | $1,562 |
| Value after costs | $10,229 | $10,704 | $11,201 |
| Impact on return, per year | 2.71% | 2.71% | 2.71% |
LLYX 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): 1.0868%
- Total broker commissions: $550K
- Bought from dealers (principal trades, not a cost): $151.9M
- Portfolio turnover (prospectus): 1232%
- Securities lending: none during the year
LLYX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PERSHING LLC | $209K | 38.05% |
| NOMURA SECURITIES INTERNATIONAL INC. | $99K | 18.04% |
| CANTOR FITZGERALD & CO. | $86K | 15.55% |
| GOLDMAN SACHS & CO. LLC | $70K | 12.75% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $45K | 8.18% |
| MAREX CAPITAL MARKETS INC. | $33K | 5.93% |
| MORGAN STANLEY & CO. LLC | $7K | 1.35% |
| BMO CAPITAL MARKETS CORP. | $800 | 0.15% |
LLYX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $88.8M | 59.19% |
| J.P. MORGAN SECURITIES LLC | $15.7M | 10.50% |
| NOMURA SECURITIES INTERNATIONAL INC. | $10.4M | 6.96% |
| BMO CAPITAL MARKETS CORP. | $8.9M | 5.95% |
| WELLS FARGO SECURITIES LLC | $8.0M | 5.36% |
| DAIWA CAPITAL MARKETS AMERICA INC. | $7.3M | 4.88% |
| MORGAN STANLEY & CO. LLC | $4.0M | 2.66% |
| BOFA SECURITIES INC. | $2.4M | 1.62% |
| PERSHING LLC | $2.3M | 1.51% |
| JEFFERIES LLC | $2.0M | 1.36% |
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.