NGE Fees and Costs — Global X MSCI Nigeria ETF
Data updated: 2024-04-01
The net expense ratio is 0.80%: a 0.68% management fee plus 0.12% other expenses. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $308K in broker commissions, 0.8185% of average net assets, and portfolio turnover was 7%.
NGE Fees and Expenses
Annual operating expenses and sales charges of NGE. Prospectus, as of February 29, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.68% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.12% |
| Gross expense ratio | 0.80% |
| Fee waiver | — |
| Net expense ratio | 0.80% |
| 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 |
NGE Costs Over Time
On $10,000 invested in NGE, assuming 5% a year before costs, total costs come to $1,000 over 5 years, cutting the return by 1.70% 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 0.80%) | $84 | $260 | $449 |
| Trading costs (broker commissions) | $86 | $266 | $459 |
| Lost growth on money paid in costs | $0 | $26 | $92 |
| Total costs | $170 | $553 | $1,000 |
| Value after costs | $10,330 | $11,023 | $11,763 |
| Impact on return, per year | 1.70% | 1.70% | 1.70% |
NGE Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.8185%
- Total broker commissions: $308K
- Bought from dealers (principal trades, not a cost): $21.2M
- Portfolio turnover (prospectus): 7%
- Securities lending: none during the year
NGE Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BANK OF AMERICA | $303K | 98.41% |
| CITIGROUP GLOBAL MARKETS | $5K | 1.59% |
NGE Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN, SACHS & CO. | $14.1M | 66.36% |
| TD SECURITIES (USA) INC. | $5.4M | 25.60% |
| CITIGROUP GLOBAL MARKETS | $1.0M | 4.75% |
| WELLS FARGO BROKERAGE SERVICES, LLC | $698K | 3.29% |
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.