MUNX Fees and Costs — AMG GW&K Muni Income ETF
Data updated: 2026-08-28
The net expense ratio is 0.29%. There are no sales loads or redemption fees. Portfolio turnover was 23%.
MUNX Fees and Expenses
Annual operating expenses and sales charges of MUNX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.29% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.29% |
| Fee waiver | — |
| Net expense ratio | 0.29% |
| 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 |
MUNX Costs Over Time
On $10,000 invested in MUNX, assuming 5% a year before costs, total costs come to $184 over 5 years, cutting the return by 0.30% 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 0.29%) | $30 | $96 | $167 |
| Lost growth on money paid in costs | $0 | $5 | $17 |
| Total costs | $30 | $100 | $184 |
| Value after costs | $10,470 | $11,476 | $12,579 |
| Impact on return, per year | 0.30% | 0.30% | 0.30% |
MUNX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $13.8M
- Portfolio turnover (prospectus): 23%
- Securities lending: none during the year
MUNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $3.4M | 27.00% |
| PERSHING LLC | $3.0M | 23.49% |
| Wells Fargo Securities LLC | $1.3M | 10.20% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $1.3M | 10.10% |
| Jefferies & Co., Inc. | $1.0M | 7.99% |
| B. Riley Securities, Inc. | $940K | 7.45% |
| RBC CAPITAL MARKETS, LLC | $833K | 6.60% |
| MORGAN STANLEY & CO. LLC | $366K | 2.90% |
| MILLENNIUM ADVISORS, LLC | $276K | 2.19% |
| RAYMOND JAMES & ASSOCIATES, INC. | $264K | 2.09% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.