LST Fees and Costs — Leuthold Select Industries ETF
Data updated: 2026-08-26
The net expense ratio is 0.65%: a 0.50% management fee plus 0.35% other expenses, less a 0.20% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $16K in broker commissions, 0.0820% of average net assets, and portfolio turnover was 78%.
LST Fees and Expenses
Annual operating expenses and sales charges of LST. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.35% |
| Gross expense ratio | 0.85% |
| Fee waiver | −0.20% |
| Net expense ratio | 0.65% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
LST Costs Over Time
On $10,000 invested in LST, assuming 5% a year before costs, total costs come to $460 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 0.65%) | $68 | $214 | $371 |
| Trading costs (broker commissions) | $9 | $27 | $47 |
| Lost growth on money paid in costs | $0 | $12 | $42 |
| Total costs | $77 | $252 | $460 |
| Value after costs | $10,423 | $11,324 | $12,302 |
| Impact on return, per year | 0.77% | 0.77% | 0.77% |
LST Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0820%
- Total broker commissions: $16K
- Bought from dealers (principal trades, not a cost): $8.6M
- Portfolio turnover (prospectus): 78%
- Securities lending: none during the year
LST Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Cowen Execution Services LLC | $8K | 48.41% |
| Mischler Financial Group Inc. | $7K | 44.05% |
| Fidelity Brokerage Services LLC | $1K | 7.55% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.