MMSB Fees and Costs — IQ MacKay Multi-Sector Income ETF
Data updated: 2023-12-20
The net expense ratio is 0.40%: a 0.40% management fee plus 0.34% other expenses, less a 0.34% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $580 in broker commissions, 0.0024% of average net assets, and portfolio turnover was 131%.
MMSB Fees and Expenses
Annual operating expenses and sales charges of MMSB. Prospectus, as of August 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.34% |
| Gross expense ratio | 0.74% |
| Fee waiver | −0.34% |
| Net expense ratio | 0.40% |
| 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 |
MMSB Costs Over Time
On $10,000 invested in MMSB, assuming 5% a year before costs, total costs come to $255 over 5 years, cutting the return by 0.42% 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 0.40%) | $42 | $132 | $230 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $7 | $23 |
| Total costs | $42 | $139 | $255 |
| Value after costs | $10,458 | $11,437 | $12,508 |
| Impact on return, per year | 0.42% | 0.42% | 0.42% |
MMSB Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0024%
- Total broker commissions: $580
- Bought from dealers (principal trades, not a cost): $79.8M
- Portfolio turnover (prospectus): 131%
- Securities lending: none during the year
MMSB Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CitiGroup Global Markets Inc. | $580 | 100.00% |
MMSB Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $22.4M | 31.33% |
| Jane Street Execution Services, LLC | $10.4M | 14.52% |
| BOFA SECURITIES, INC. | $8.3M | 11.59% |
| CitiGroup Global Markets Inc. | $7.5M | 10.42% |
| GOLDMAN SACHS & CO. LLC | $6.9M | 9.67% |
| J.P. Morgan Securities LLC | $4.4M | 6.16% |
| Amherst Pierpont | $3.8M | 5.33% |
| MORGAN STANLEY & CO. LLC | $3.3M | 4.63% |
| WELLS FARGO SECURITIES, LLC | $2.5M | 3.52% |
| BARCLAYS CAPITAL, INC. | $2.0M | 2.84% |
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.