NLSI Fees and Costs — NEOS Long/Short Equity Income ETF
Data updated: 2026-08-25
The net expense ratio is 2.89%: a 0.98% management fee plus 1.91% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $513 in broker commissions, 0.0169% of average net assets, and portfolio turnover was 19%.
NLSI Fees and Expenses
Annual operating expenses and sales charges of NLSI. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.98% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.91% |
| Gross expense ratio | 2.89% |
| Fee waiver | — |
| Net expense ratio | 2.89% |
| 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 |
NLSI Costs Over Time
On $10,000 invested in NLSI, assuming 5% a year before costs, total costs come to $1,750 over 5 years, cutting the return by 3.05% 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 2.89%) | $303 | $928 | $1,578 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $0 | $47 | $164 |
| Total costs | $305 | $980 | $1,750 |
| Value after costs | $10,195 | $10,596 | $11,013 |
| Impact on return, per year | 3.05% | 3.05% | 3.05% |
NLSI 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): 0.0169%
- Total broker commissions: $513
- Bought from dealers (principal trades, not a cost): $911K
- Portfolio turnover (prospectus): 19%
- Securities lending: none during the year
NLSI Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| NORTHERN TRUST SECURITIES INC. | $513 | 100.00% |
NLSI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| NORTHERN TRUST SECURITIES INC. | $911K | 100.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.