MSVX Fees and Costs — LHA Market State Alpha Seeker ETF
Data updated: 2024-11-29
The net expense ratio is 1.26%. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $46.9M in broker commissions, 140.7230% of average net assets, and portfolio turnover was 2790%.
MSVX Fees and Expenses
Annual operating expenses and sales charges of MSVX. Prospectus, as of April 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 1.10% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.12% |
| Gross expense ratio | 1.26% |
| Fee waiver | — |
| Net expense ratio | 1.26% |
| 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 |
MSVX Costs Over Time
On $10,000 invested in MSVX, assuming 5% a year before costs, total costs come to $12,929 over 5 years, cutting the return by — 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 1.26%) | $132 | $100 | $93 |
| Trading costs (broker commissions) | $14,776 | $11,134 | $10,426 |
| Lost growth on money paid in costs | $0 | $1,199 | $2,410 |
| Total costs | $14,908 | $12,433 | $12,929 |
| Value after costs | −$4,408 | −$857 | −$166 |
| Impact on return, per year | — | — | — |
MSVX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 140.7230%
- Total broker commissions: $46.9M
- Bought from dealers (principal trades, not a cost): $49.8M
- Portfolio turnover (prospectus): 2790%
- Securities lending: none during the year
MSVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MISCHLER FINANCIAL GROUP, INC. | $28K | 57.76% |
| GOLDMAN SACHS & CO. LLC | $21K | 42.19% |
| BTIG, LLC | $23 | 0.05% |
| INTERACTIVE BROKERS LLC | $0 | 0.00% |
MSVX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| US BANCORP INVESTMENTS, INC. | $46.9M | 94.09% |
| INTERACTIVE BROKERS LLC | $2.9M | 5.90% |
| GOLDMAN SACHS & CO. LLC | $2K | 0.00% |
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.