NPFI Fees and Costs — Nuveen Preferred and Income ETF
Data updated: 2026-10-13
The net expense ratio is 0.56%: a 0.55% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 28%.
NPFI Fees and Expenses
Annual operating expenses and sales charges of NPFI. Prospectus, as of July 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.56% |
| Fee waiver | — |
| Net expense ratio | 0.56% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
NPFI Costs Over Time
On $10,000 invested in NPFI, assuming 5% a year before costs, total costs come to $353 over 5 years, cutting the return by 0.59% 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 0.56%) | $59 | $184 | $321 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $59 | $193 | $353 |
| Value after costs | $10,441 | $11,383 | $12,409 |
| Impact on return, per year | 0.59% | 0.59% | 0.59% |
NPFI Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $153.7M
- Portfolio turnover (prospectus): 28%
NPFI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Jane Street Capital, LLC | $20.3M | 19.35% |
| Morgan Stanley & Co. LLC | $15.4M | 14.61% |
| BNP Paribas Securities Corp. | $12.3M | 11.67% |
| Citigroup Global Markets Inc. | $11.4M | 10.87% |
| MarketAxess Corporation | $8.6M | 8.18% |
| Wells Fargo Securities, LLC | $8.4M | 8.02% |
| SumRidge Partners, LLC | $7.9M | 7.47% |
| J.P. Morgan Securities LLC | $7.5M | 7.16% |
| UBS Securities LLC | $7.2M | 6.83% |
| Mizuho Securities USA LLC | $6.1M | 5.84% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.