NVDL Fees and Costs — GraniteShares 2x Long NVDA Daily ETF
Data updated: 2026-09-11
The net expense ratio is 1.05%: a 0.99% management fee plus 0.06% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $3.2M in broker commissions, 0.0734% of average net assets.
NVDL Fees and Expenses
Annual operating expenses and sales charges of NVDL. Prospectus, as of October 24, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.99% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.06% |
| Gross expense ratio | 1.05% |
| Fee waiver | — |
| Net expense ratio | 1.05% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
NVDL Costs Over Time
On $10,000 invested in NVDL, assuming 5% a year before costs, total costs come to $701 over 5 years, cutting the return by 1.18% 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 1.05%) | $110 | $344 | $595 |
| Trading costs (broker commissions) | $8 | $24 | $42 |
| Lost growth on money paid in costs | $0 | $18 | $64 |
| Total costs | $118 | $386 | $701 |
| Value after costs | $10,382 | $11,190 | $12,062 |
| Impact on return, per year | 1.18% | 1.18% | 1.18% |
NVDL Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0734%
- Total broker commissions: $3.2M
- Bought from dealers (principal trades, not a cost): $87.5B
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
NVDL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Mischler Financial Group, Inc. | $2.8M | 87.48% |
| BTIG, LLC | $398K | 12.52% |
NVDL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY MELLON CAPITAL MARKETS, LLC | $85.4B | 97.67% |
| GOLDMAN SACHS & CO. LLC | $527.0M | 0.60% |
| Cowen Financial Products | $287.6M | 0.33% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $277.8M | 0.32% |
| CANTOR FITZGERALD & CO. | $237.2M | 0.27% |
| BOFA SECURITIES, INC. | $203.6M | 0.23% |
| BMO CAPITAL MARKETS CORP. | $190.6M | 0.22% |
| CREDIT SUISSE SECURITIES (USA) LLC | $187.2M | 0.21% |
| Marex Capital Markets Inc. | $109.9M | 0.13% |
| NATIXIS SECURITIES AMERICAS LLC | $16.2M | 0.02% |
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.