MDPL Fees and Costs — Monarch Dividend Plus Index ETF
Data updated: 2026-07-27
The net expense ratio is 1.19%: a 0.85% management fee plus 0.34% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $16K in broker commissions, 0.0283% of average net assets, and portfolio turnover was 89%.
MDPL Fees and Expenses
Annual operating expenses and sales charges of MDPL. Prospectus, as of June 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.34% |
| Gross expense ratio | 1.19% |
| Fee waiver | — |
| Net expense ratio | 1.19% |
| 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 |
MDPL Costs Over Time
On $10,000 invested in MDPL, assuming 5% a year before costs, total costs come to $759 over 5 years, cutting the return by 1.28% 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 1.19%) | $125 | $389 | $673 |
| Trading costs (broker commissions) | $3 | $9 | $16 |
| Lost growth on money paid in costs | $0 | $20 | $70 |
| Total costs | $128 | $418 | $759 |
| Value after costs | $10,372 | $11,158 | $12,004 |
| Impact on return, per year | 1.28% | 1.28% | 1.28% |
MDPL Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0283%
- Total broker commissions: $16K
- Bought from dealers (principal trades, not a cost): $39.2M
- Portfolio turnover (prospectus): 89%
- Securities lending: none during the year
MDPL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citadel Securities LLC | $13K | 82.69% |
| William Blair & Co. | $3K | 17.31% |
MDPL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $34.2M | 87.17% |
| JPMorgan Chase | $3.5M | 8.83% |
| Virtu Americas LLC | $1.6M | 3.99% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.