MVFD Fees and Costs — Monarch Volume Factor Dividend Tree Index ETF
Data updated: 2026-07-27
The net expense ratio is 1.10%: a 0.85% management fee plus 0.25% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $100K in broker commissions, 0.1309% of average net assets, and portfolio turnover was 321%.
MVFD Fees and Expenses
Annual operating expenses and sales charges of MVFD. Prospectus, as of June 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.25% |
| Gross expense ratio | 1.10% |
| Fee waiver | — |
| Net expense ratio | 1.10% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
MVFD Costs Over Time
On $10,000 invested in MVFD, assuming 5% a year before costs, total costs come to $766 over 5 years, cutting the return by 1.29% 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 1.10%) | $116 | $360 | $622 |
| Trading costs (broker commissions) | $14 | $43 | $74 |
| Lost growth on money paid in costs | $0 | $20 | $70 |
| Total costs | $129 | $422 | $766 |
| Value after costs | $10,371 | $11,154 | $11,996 |
| Impact on return, per year | 1.29% | 1.29% | 1.29% |
MVFD Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.1309%
- Total broker commissions: $100K
- Bought from dealers (principal trades, not a cost): $223.8M
- Portfolio turnover (prospectus): 321%
- Securities lending: none during the year
MVFD Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citadel Securities LLC | $87K | 86.88% |
| BTIG LLC | $13K | 13.12% |
MVFD Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $211.2M | 94.37% |
| Virtu Americas LLC | $9.0M | 4.03% |
| Goldman Sachs | $3.6M | 1.60% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.