MINC Fees and Costs — AdvisorShares Newfleet Multi-Sector Income ETF
Data updated: 2023-09-08
The net expense ratio is 0.75%: a 0.50% management fee plus 0.26% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $180 in broker commissions, 0.0005% of average net assets, and portfolio turnover was 54%.
MINC Fees and Expenses
Annual operating expenses and sales charges of MINC. Prospectus, as of October 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.26% |
| Gross expense ratio | 0.76% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.75% |
| 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 |
MINC Costs Over Time
On $10,000 invested in MINC, assuming 5% a year before costs, total costs come to $472 over 5 years, cutting the return by 0.79% 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 0.75%) | $79 | $246 | $428 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $12 | $43 |
| Total costs | $79 | $259 | $472 |
| Value after costs | $10,421 | $11,318 | $12,291 |
| Impact on return, per year | 0.79% | 0.79% | 0.79% |
MINC Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0005%
- Total broker commissions: $180
- Bought from dealers (principal trades, not a cost): $83.1M
- Portfolio turnover (prospectus): 54%
- Securities on loan, average value: $1.2M
- Net income from securities lending: $6K (0.016% of average net assets)
MINC Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $180 | 100.00% |
MINC Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $12.9M | 21.64% |
| J.P. Morgan Securities LLC | $9.1M | 15.22% |
| CitiGroup Global Markets Inc. | $7.3M | 12.26% |
| MORGAN STANLEY & CO. LLC | $7.1M | 11.83% |
| BOFA SECURITIES, INC. | $6.9M | 11.53% |
| GOLDMAN SACHS & CO. LLC | $5.2M | 8.64% |
| BARCLAYS CAPITAL, INC. | $3.6M | 5.98% |
| MARKETAXESS CORPORATION | $3.2M | 5.42% |
| Jane Street Execution Services, LLC | $2.4M | 4.00% |
| CREDIT SUISSE SECURITIES (USA) LLC | $2.1M | 3.47% |
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.