MFUL Fees and Costs — Mindful Conservative ETF
Data updated: 2026-08-26
The net expense ratio is 1.48%. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $76K in broker commissions, 0.1303% of average net assets, and portfolio turnover was 336%.
MFUL Fees and Expenses
Annual operating expenses and sales charges of MFUL. Prospectus, as of January 26, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.61% |
| Gross expense ratio | 1.48% |
| Fee waiver | — |
| Net expense ratio | 1.48% |
| 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 |
MFUL Costs Over Time
On $10,000 invested in MFUL, assuming 5% a year before costs, total costs come to $995 over 5 years, cutting the return by 1.69% 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 1.48%) | $155 | $482 | $830 |
| Trading costs (broker commissions) | $14 | $42 | $73 |
| Lost growth on money paid in costs | $0 | $26 | $92 |
| Total costs | $169 | $550 | $995 |
| Value after costs | $10,331 | $11,026 | $11,768 |
| Impact on return, per year | 1.69% | 1.69% | 1.69% |
MFUL Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.1303%
- Total broker commissions: $76K
- Bought from dealers (principal trades, not a cost): $68.1M
- Portfolio turnover (prospectus): 336%
- Securities lending: none during the year
MFUL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GTS Securities, LLC | $62K | 82.37% |
| Clear Street LLC | $7K | 8.65% |
| Flow Traders | $3K | 3.83% |
| Mischler Financial Group, Inc. | $2K | 3.13% |
| Berenberg Capital Markets LLC | $781 | 1.03% |
| Scotia Capital (USA) Inc. | $746 | 0.98% |
MFUL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $43.2M | 63.44% |
| Virtu Americas LLC | $17.2M | 25.34% |
| BofA Securities, Inc. | $7.6M | 11.22% |
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.