PUTD Fees and Costs — Cboe Validus S&P 500 Dynamic PutWrite Index ETF
Data updated: 2025-09-29
The net expense ratio is 0.64%: a 0.60% management fee plus 0.04% other expenses. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $1K in broker commissions, 0.0063% of average net assets, and portfolio turnover was 0%.
PUTD Fees and Expenses
Annual operating expenses and sales charges of PUTD. Prospectus, as of November 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.04% |
| Gross expense ratio | 0.64% |
| Fee waiver | — |
| Net expense ratio | 0.64% |
| 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 |
PUTD Costs Over Time
On $10,000 invested in PUTD, assuming 5% a year before costs, total costs come to $407 over 5 years, cutting the return by 0.68% 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 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $10 | $37 |
| Total costs | $68 | $223 | $407 |
| Value after costs | $10,432 | $11,353 | $12,356 |
| Impact on return, per year | 0.68% | 0.68% | 0.68% |
PUTD Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0063%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $363.9M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
PUTD Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INTERACTIVE BROKERS LLC | $1K | 95.09% |
| U.S. BANCORP INVESTMENTS INC. | $71 | 4.91% |
PUTD Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BMO CAPITAL MARKETS CORP. | $133.9M | 36.80% |
| MORGAN STANLEY & CO. LLC | $114.4M | 31.45% |
| RBC CAPITAL MARKETS LLC | $55.9M | 15.36% |
| CITADEL SECURITIES LLC | $39.8M | 10.94% |
| BMO NESBITT BURNS SECURITIES LTD. | $13.0M | 3.58% |
| STONEX FINANCIAL INC. | $3.9M | 1.07% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $2.9M | 0.79% |
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.