MKTN Fees and Costs — Federated Hermes MDT Market Neutral ETF
Data updated: 2026-08-25
The net expense ratio is 1.94% (2.27% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $8K in broker commissions, 0.0724% of average net assets, and portfolio turnover was 59%.
MKTN Fees and Expenses
Annual operating expenses and sales charges of MKTN. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.08% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.04% |
| Gross expense ratio | 2.27% |
| Fee waiver | −0.33% |
| Net expense ratio | 1.94% |
| 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 |
MKTN Costs Over Time
On $10,000 invested in MKTN, assuming 5% a year before costs, total costs come to $1,234 over 5 years, cutting the return by 2.11% 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 1.94%) | $204 | $629 | $1,079 |
| Trading costs (broker commissions) | $8 | $23 | $40 |
| Lost growth on money paid in costs | $0 | $33 | $114 |
| Total costs | $211 | $685 | $1,234 |
| Value after costs | $10,289 | $10,891 | $11,529 |
| Impact on return, per year | 2.11% | 2.11% | 2.11% |
MKTN Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0724%
- Total broker commissions: $8K
- Bought from dealers (principal trades, not a cost): $30.2M
- Portfolio turnover (prospectus): 59%
- Securities lending: none during the year
MKTN Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $2K | 24.68% |
| Jefferies LLC | $1K | 17.03% |
| Virtu Americas LLC | $1K | 13.29% |
| Tigress Financial Partners, LLC | $1K | 12.71% |
| Citigroup Global Markets Inc. | $986 | 12.33% |
| JonesTrading | $841 | 10.51% |
| Nomura Securities International, Inc. | $756 | 9.45% |
| BNY Mellon Capital Markets, LLC | $0 | 0.00% |
MKTN Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Federated Securities Corp. | $30.2M | 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.