NFLT Fees and Costs — Virtus Newfleet Multi-Sector Bond ETF
Data updated: 2026-09-29
The net expense ratio is 0.50%: a 0.45% management fee plus 0.13% other expenses, less a 0.09% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1K in broker commissions, 0.0006% of average net assets, and portfolio turnover was 91%.
NFLT Fees and Expenses
Annual operating expenses and sales charges of NFLT. Prospectus, as of February 26, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | — |
| Other expenses | 0.13% |
| Gross expense ratio | 0.59% |
| Fee waiver | −0.09% |
| Net expense ratio | 0.50% |
| 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 | Yes |
NFLT Costs Over Time
On $10,000 invested in NFLT, assuming 5% a year before costs, total costs come to $316 over 5 years, cutting the return by 0.53% 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 0.50%) | $52 | $165 | $287 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $8 | $29 |
| Total costs | $53 | $173 | $316 |
| Value after costs | $10,447 | $11,403 | $12,447 |
| Impact on return, per year | 0.53% | 0.53% | 0.53% |
NFLT Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0006%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $444.9M
- Portfolio turnover (prospectus): 91%
- Securities lending: none during the year
NFLT Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jane Street Execution Services, LLC | $1K | 88.38% |
| VIRTU AMERICAS LLC | $164 | 11.48% |
| BTIG, LLC | $2 | 0.14% |
NFLT Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $54.8M | 16.41% |
| GOLDMAN SACHS & CO. LLC | $52.9M | 15.83% |
| BOFA SECURITIES, INC. | $47.2M | 14.12% |
| MORGAN STANLEY & CO. LLC | $43.2M | 12.93% |
| BARCLAYS CAPITAL, INC. | $30.9M | 9.25% |
| HSBC SECURITIES (USA), INC. | $30.0M | 9.00% |
| CitiGroup Global Markets Inc. | $25.9M | 7.75% |
| JEFFERIES LLC | $20.8M | 6.22% |
| WELLS FARGO SECURITIES, LLC | $18.6M | 5.57% |
| DEUTSCHE BANK SECURITIES, INC. | $9.8M | 2.93% |
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.