MPAY Fees and Costs — Akros Monthly Payout ETF
Data updated: 2025-04-28
The net expense ratio is 0.56% (0.81% before fee waivers). There are no sales loads or redemption fees. In fiscal 2024 the fund paid $4K in broker commissions, 0.1636% of average net assets, and portfolio turnover was 601%.
MPAY Fees and Expenses
Annual operating expenses and sales charges of MPAY. Prospectus, as of March 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.81% |
| Fee waiver | −0.25% |
| Net expense ratio | 0.56% |
| 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 |
MPAY Costs Over Time
On $10,000 invested in MPAY, assuming 5% a year before costs, total costs come to $455 over 5 years, cutting the return by 0.76% 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 0.56%) | $59 | $184 | $320 |
| Trading costs (broker commissions) | $17 | $54 | $93 |
| Lost growth on money paid in costs | $0 | $12 | $42 |
| Total costs | $76 | $249 | $455 |
| Value after costs | $10,424 | $11,327 | $12,308 |
| Impact on return, per year | 0.76% | 0.76% | 0.76% |
MPAY Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.1636%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $8.9M
- Portfolio turnover (prospectus): 601%
- Securities lending: none during the year
MPAY Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MISCHLER FINANCIAL GROUP INC | $4K | 94.85% |
| Virtu Americas LLC | $176 | 4.48% |
| BTIG LLC | $25 | 0.64% |
| GOLDMAN SACHS & CO | $1 | 0.02% |
MPAY Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO | $7.8M | 88.16% |
| KCG | $801K | 9.00% |
| Virtu Americas LLC | $253K | 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.