PCEM Fees and Costs — Polen Capital Emerging Markets ex-China Growth ETF
Data updated: 2026-03-12
The net expense ratio is 1.00%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2K in broker commissions, 0.0692% of average net assets, and portfolio turnover was 7%.
PCEM Fees and Expenses
Annual operating expenses and sales charges of PCEM. Prospectus, as of April 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 1.00% |
| Fee waiver | — |
| Net expense ratio | 1.00% |
| 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 |
PCEM Costs Over Time
On $10,000 invested in PCEM, assuming 5% a year before costs, total costs come to $668 over 5 years, cutting the return by 1.12% 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 1.00%) | $105 | $327 | $567 |
| Trading costs (broker commissions) | $7 | $23 | $39 |
| Lost growth on money paid in costs | $0 | $17 | $61 |
| Total costs | $112 | $367 | $668 |
| Value after costs | $10,388 | $11,209 | $12,095 |
| Impact on return, per year | 1.12% | 1.12% | 1.12% |
PCEM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0692%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $101K
- Portfolio turnover (prospectus): 7%
- Securities lending: none during the year
PCEM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $552 | 30.27% |
| CLSA Americas, LLC | $458 | 25.12% |
| KB Securities Co., Ltd. | $400 | 21.94% |
| Goldman Sachs & Co. LLC | $104 | 5.73% |
| Cong Ty TNHH Chung Khoan ACB | $93 | 5.09% |
| Agora Corretora de Titulos e Valores Mobiliarios S.A. | $77 | 4.21% |
| J.P. Morgan Securities LLC | $71 | 3.91% |
| Morgan Stanley & Co. LLC | $28 | 1.54% |
| UBS Securities LLC | $21 | 1.14% |
| Eurobank Ergasias Services and Holdings S.A. | $19 | 1.04% |
PCEM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $101K | 100.00% |
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.