NVQ Fees and Costs — QRAFT AI-Enhanced U.S. Next Value ETF
Data updated: 2024-03-21
The net expense ratio is 0.81%. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $8K in broker commissions, 0.1478% of average net assets, and portfolio turnover was 261%.
NVQ Fees and Expenses
Annual operating expenses and sales charges of NVQ. Prospectus, as of April 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.81% |
| Fee waiver | — |
| Net expense ratio | 0.81% |
| 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 |
NVQ Costs Over Time
On $10,000 invested in NVQ, assuming 5% a year before costs, total costs come to $600 over 5 years, cutting the return by 1.01% 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 0.81%) | $85 | $265 | $461 |
| Trading costs (broker commissions) | $16 | $48 | $84 |
| Lost growth on money paid in costs | $0 | $16 | $55 |
| Total costs | $101 | $329 | $600 |
| Value after costs | $10,399 | $11,247 | $12,163 |
| Impact on return, per year | 1.01% | 1.01% | 1.01% |
NVQ Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.1478%
- Total broker commissions: $8K
- Bought from dealers (principal trades, not a cost): $10.0M
- Portfolio turnover (prospectus): 261%
- Securities lending: none during the year
NVQ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MISCHLER FINANCIAL GROUP, INC. | $5K | 69.81% |
| Jane Street Execution Services, LLC | $1K | 16.22% |
| GOLDMAN SACHS & CO. LLC | $1K | 13.97% |
NVQ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $5.4M | 53.58% |
| BOFA SECURITIES, INC. | $3.0M | 29.93% |
| VIRTU AMERICAS LLC | $1.6M | 16.13% |
| MANTECH INTERNATIONAL CORPORATION | $33K | 0.33% |
| TURQUOISE HILL RESOURCES | $3K | 0.03% |
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.