PFFR Fees and Costs — InfraCap REIT Preferred ETF
Data updated: 2026-09-29
The net expense ratio is 0.45%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $5K in broker commissions, 0.0046% of average net assets, and portfolio turnover was 10%.
PFFR Fees and Expenses
Annual operating expenses and sales charges of PFFR. Prospectus, as of February 26, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | — |
| Other expenses | — |
| Gross expense ratio | 0.45% |
| Fee waiver | — |
| Net expense ratio | 0.45% |
| 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 |
PFFR Costs Over Time
On $10,000 invested in PFFR, assuming 5% a year before costs, total costs come to $287 over 5 years, cutting the return by 0.48% 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 0.45%) | $47 | $148 | $259 |
| Trading costs (broker commissions) | $0 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $7 | $26 |
| Total costs | $48 | $157 | $287 |
| Value after costs | $10,452 | $11,419 | $12,475 |
| Impact on return, per year | 0.48% | 0.48% | 0.48% |
PFFR Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0046%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $44.9M
- Portfolio turnover (prospectus): 10%
- Securities lending: none during the year
PFFR Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $4K | 86.10% |
| RBC CAPITAL MARKETS, LLC | $643 | 13.90% |
PFFR Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $20.9M | 46.56% |
| VIRTU AMERICAS LLC | $18.4M | 40.93% |
| BOFA SECURITIES, INC. | $2.8M | 6.19% |
| J.P. Morgan Securities LLC | $1.8M | 4.05% |
| Brownstone Investment Group, LLC | $821K | 1.83% |
| Seaport Global Securities LLC | $197K | 0.44% |
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.