OGSP Fees and Costs — Obra High Grade Structured Products ETF
Data updated: 2026-08-28
The net expense ratio is 0.64%: a 0.63% management fee plus 1.05% other expenses, less a 1.05% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 61%.
OGSP Fees and Expenses
Annual operating expenses and sales charges of OGSP. Prospectus, as of July 29, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.63% |
| 12b-1 fee | — |
| Other expenses | 1.05% |
| Gross expense ratio | 1.69% |
| Fee waiver | −1.05% |
| Net expense ratio | 0.64% |
| 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 |
OGSP Costs Over Time
On $10,000 invested in OGSP, assuming 5% a year before costs, total costs come to $403 over 5 years, cutting the return by 0.67% 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 0.64%) | $67 | $210 | $366 |
| Lost growth on money paid in costs | $0 | $10 | $37 |
| Total costs | $67 | $221 | $403 |
| Value after costs | $10,433 | $11,355 | $12,360 |
| Impact on return, per year | 0.67% | 0.67% | 0.67% |
OGSP 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): $60.9M
- Portfolio turnover (prospectus): 61%
- Securities lending: none during the year
OGSP Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UMB Bank, n.a. | $41.3M | 67.81% |
| Deutsche Bank Securities Inc. | $2.7M | 4.47% |
| J.P. Morgan Securities LLC | $2.6M | 4.26% |
| Morgan Stanley & Co. LLC | $2.4M | 3.92% |
| Citigroup Global Markets Inc. | $2.3M | 3.86% |
| Goldman Sachs & Co. LLC | $2.2M | 3.55% |
| Stifel, Nicolaus & Company, Inc. | $2.1M | 3.45% |
| Cantor Fitzgerald & Co. | $2.1M | 3.45% |
| BofA Securities, Inc. | $1.9M | 3.12% |
| Santander US Capital Markets LLC | $1.3M | 2.11% |
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.