MSTW Fees and Costs — Roundhill MSTR WeeklyPay ETF
Data updated: 2026-08-26
The net expense ratio is 1.00%: a 0.99% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $264K in broker commissions, 0.3476% of average net assets, and portfolio turnover was 553%.
MSTW Fees and Expenses
Annual operating expenses and sales charges of MSTW. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.99% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 1.00% |
| Fee waiver | — |
| Net expense ratio | 1.00% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
MSTW Costs Over Time
On $10,000 invested in MSTW, assuming 5% a year before costs, total costs come to $837 over 5 years, cutting the return by 1.41% 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 1.00%) | $105 | $326 | $564 |
| Trading costs (broker commissions) | $36 | $113 | $196 |
| Lost growth on money paid in costs | $0 | $22 | $77 |
| Total costs | $141 | $462 | $837 |
| Value after costs | $10,359 | $11,115 | $11,926 |
| Impact on return, per year | 1.41% | 1.41% | 1.41% |
MSTW 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): 0.3476%
- Total broker commissions: $264K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 553%
- Securities lending: none during the year
MSTW Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CF GLOBAL TRADING LLC | $263K | 99.68% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $818 | 0.31% |
| GOLDMAN SACHS & CO. LLC | $37 | 0.01% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.