NIWM Fees and Costs — NightShares 2000 ETF
Data updated: 2023-08-03
The net expense ratio is 0.55%. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $2K in broker commissions, 0.0419% of average net assets.
NIWM Fees and Expenses
Annual operating expenses and sales charges of NIWM. Prospectus, as of May 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.55% |
| Fee waiver | — |
| Net expense ratio | 0.55% |
| 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 |
NIWM Costs Over Time
On $10,000 invested in NIWM, assuming 5% a year before costs, total costs come to $373 over 5 years, cutting the return by 0.62% 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 0.55%) | $58 | $181 | $315 |
| Trading costs (broker commissions) | $4 | $14 | $24 |
| Lost growth on money paid in costs | $0 | $10 | $34 |
| Total costs | $62 | $204 | $373 |
| Value after costs | $10,438 | $11,372 | $12,390 |
| Impact on return, per year | 0.62% | 0.62% | 0.62% |
NIWM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0419%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $2.4M
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
NIWM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MISCHLER FINANCIAL GROUP, INC. | $2K | 100.00% |
NIWM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MISCHLER FINANCIAL GROUP, INC. | $1.3M | 52.79% |
| CITADEL SECURITIES LLC | $595K | 24.60% |
| BMO CAPITAL MARKETS CORP. | $547K | 22.61% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.