MGMT Fees and Costs — Ballast Small/mid Cap ETF
Data updated: 2026-08-31
The net expense ratio is 1.10%: a 0.95% management fee plus 0.20% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $98K in broker commissions, 0.0637% of average net assets, and portfolio turnover was 30%.
MGMT Fees and Expenses
Annual operating expenses and sales charges of MGMT. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | — |
| Other expenses | 0.20% |
| Gross expense ratio | 1.15% |
| Fee waiver | −0.05% |
| Net expense ratio | 1.10% |
| 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 | Yes |
MGMT Costs Over Time
On $10,000 invested in MGMT, assuming 5% a year before costs, total costs come to $726 over 5 years, cutting the return by 1.22% 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 1.10%) | $116 | $360 | $623 |
| Trading costs (broker commissions) | $7 | $21 | $36 |
| Lost growth on money paid in costs | $0 | $19 | $67 |
| Total costs | $122 | $399 | $726 |
| Value after costs | $10,378 | $11,177 | $12,037 |
| Impact on return, per year | 1.22% | 1.22% | 1.22% |
MGMT 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): 0.0637%
- Total broker commissions: $98K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 30%
- Securities lending: none during the year
MGMT Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JONES TRADING INSTITUTIONAL SERVICES LLC | $39K | 39.66% |
| MISCHLER FINANCIAL GROUP INC | $36K | 36.75% |
| BTIG LLC | $23K | 23.59% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.