NZAC Fees and Costs — SPDR MSCI ACWI Climate Paris Aligned ETF
Data updated: 2026-08-28
The net expense ratio is 0.12%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $17K in broker commissions, 0.0109% of average net assets, and portfolio turnover was 12%.
NZAC Fees and Expenses
Annual operating expenses and sales charges of NZAC. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.12% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.12% |
| Fee waiver | — |
| Net expense ratio | 0.12% |
| 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 |
NZAC Costs Over Time
On $10,000 invested in NZAC, assuming 5% a year before costs, total costs come to $83 over 5 years, cutting the return by 0.14% 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 0.12%) | $13 | $40 | $69 |
| Trading costs (broker commissions) | $1 | $4 | $6 |
| Lost growth on money paid in costs | $0 | $2 | $8 |
| Total costs | $14 | $45 | $83 |
| Value after costs | $10,486 | $11,531 | $12,680 |
| Impact on return, per year | 0.14% | 0.14% | 0.14% |
NZAC Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0109%
- Total broker commissions: $17K
- Bought from dealers (principal trades, not a cost): $13.6M
- Portfolio turnover (prospectus): 12%
- Securities on loan, average value: $4.5M
- Net income from securities lending: $16K (0.011% of average net assets)
NZAC Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $10K | 63.59% |
| UBS Securities LLC | $1K | 8.92% |
| Goldman Sachs & Co. LLC | $1K | 8.61% |
| J.P. Morgan Securities LLC | $1K | 6.56% |
| HSBC Securities (USA) Inc. | $487 | 3.18% |
| Jefferies LLC | $375 | 2.45% |
| Morgan Stanley & Co. LLC | $282 | 1.84% |
| Barclays Capital Inc. | $253 | 1.65% |
| Macquarie Capital (USA) Inc. | $247 | 1.61% |
| Nomura Securities International, Inc. | $245 | 1.60% |
NZAC Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $13.5M | 99.72% |
| J.P. Morgan Securities LLC | $17K | 0.13% |
| Citigroup Global Markets Inc. | $9K | 0.07% |
| Citadel Securities LLC | $7K | 0.05% |
| Goldman Sachs & Co. LLC | $5K | 0.03% |
| Nomura Securities International, Inc. | $2 | 0.00% |
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.