PPI Fees and Costs — Astoria Real Assets ETF
Data updated: 2026-08-21
The net expense ratio is 0.57%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $41K in broker commissions, 0.0525% of average net assets, and portfolio turnover was 115%.
PPI Fees and Expenses
Annual operating expenses and sales charges of PPI. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.57% |
| Fee waiver | — |
| Net expense ratio | 0.57% |
| 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 |
PPI Costs Over Time
On $10,000 invested in PPI, assuming 5% a year before costs, total costs come to $392 over 5 years, cutting the return by 0.65% 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 0.57%) | $60 | $187 | $326 |
| Trading costs (broker commissions) | $6 | $17 | $30 |
| Lost growth on money paid in costs | $0 | $10 | $36 |
| Total costs | $65 | $215 | $392 |
| Value after costs | $10,435 | $11,361 | $12,370 |
| Impact on return, per year | 0.65% | 0.65% | 0.65% |
PPI 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): 0.0525%
- Total broker commissions: $41K
- Bought from dealers (principal trades, not a cost): $176.2M
- Portfolio turnover (prospectus): 115%
- Securities lending: none during the year
PPI Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PERSHING LLC | $18K | 44.02% |
| Goldman Sachs and Co. LLC | $13K | 31.15% |
| MORGAN STANLEY | $10K | 24.83% |
| BANK OF AMERICA CORPORATION | $1 | 0.00% |
PPI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| PERSHING LLC | $106.9M | 60.66% |
| MORGAN STANLEY | $44.0M | 24.99% |
| Goldman Sachs and Co. LLC | $25.3M | 14.34% |
| BANK OF AMERICA CORPORATION | $29K | 0.02% |
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.