MCRO Fees and Costs — IQ Hedge Macro Tracker ETF
Data updated: 2023-03-28
The net expense ratio is 0.67%. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $2K in broker commissions, 0.0461% of average net assets, and portfolio turnover was 83%.
MCRO Fees and Expenses
Annual operating expenses and sales charges of MCRO. Prospectus, as of April 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.67% |
| Fee waiver | — |
| Net expense ratio | 0.67% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MCRO Costs Over Time
On $10,000 invested in MCRO, assuming 5% a year before costs, total costs come to $450 over 5 years, cutting the return by 0.75% 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 0.67%) | $70 | $220 | $383 |
| Trading costs (broker commissions) | $5 | $15 | $26 |
| Lost growth on money paid in costs | $0 | $12 | $41 |
| Total costs | $75 | $247 | $450 |
| Value after costs | $10,425 | $11,329 | $12,312 |
| Impact on return, per year | 0.75% | 0.75% | 0.75% |
MCRO Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0461%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $223
- Portfolio turnover (prospectus): 83%
- Securities on loan, average value: $851K
- Net income from securities lending: $6K (0.147% of average net assets)
MCRO Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $613 | 31.73% |
| Jane Street Execution Services, LLC | $561 | 29.03% |
| BNY MELLON CAPITAL MARKETS, LLC | $172 | 8.91% |
| CITADEL SECURITIES LLC | $124 | 6.43% |
| MISCHLER FINANCIAL GROUP, INC. | $100 | 5.18% |
| Stifel, Nicolaus & Company, Incorporated | $85 | 4.39% |
| WallachBeth Capital LLC | $84 | 4.36% |
| BTIG, LLC | $78 | 4.01% |
| CitiGroup Global Markets Inc. | $60 | 3.11% |
| BOFA SECURITIES, INC. | $55 | 2.85% |
MCRO Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $223 | 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.