ODHY Fees and Costs — Obra Defensive High Yield ETF
Data updated: 2026-08-28
The net expense ratio is 0.50%: a 0.50% management fee plus 4.84% other expenses, less a 4.84% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 15%.
ODHY Fees and Expenses
Annual operating expenses and sales charges of ODHY. Prospectus, as of July 29, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 4.84% |
| Gross expense ratio | 5.34% |
| Fee waiver | −4.84% |
| Net expense ratio | 0.50% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
ODHY Costs Over Time
On $10,000 invested in ODHY, assuming 5% a year before costs, total costs come to $316 over 5 years, cutting the return by 0.52% 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 0.50%) | $52 | $165 | $287 |
| Lost growth on money paid in costs | $0 | $8 | $29 |
| Total costs | $52 | $173 | $316 |
| Value after costs | $10,448 | $11,403 | $12,447 |
| Impact on return, per year | 0.52% | 0.52% | 0.52% |
ODHY Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $7.9M
- Portfolio turnover (prospectus): 15%
- Securities lending: none during the year
ODHY Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UMB Bank, n.a. | $6.7M | 84.86% |
| Marketaxess Corporation | $1.2M | 14.49% |
| Goldman Sachs & Co. LLC | $51K | 0.64% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.