PWER Fees and Costs — Nomura Energy Transition ETF
Data updated: 2026-08-26
The net expense ratio is 0.79%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $3K in broker commissions, 0.0357% of average net assets, and portfolio turnover was 31%.
PWER Fees and Expenses
Annual operating expenses and sales charges of PWER. Prospectus, as of July 29, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.79% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.79% |
| Fee waiver | — |
| Net expense ratio | 0.79% |
| 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 |
PWER Costs Over Time
On $10,000 invested in PWER, assuming 5% a year before costs, total costs come to $518 over 5 years, cutting the return by 0.87% 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 0.79%) | $83 | $259 | $450 |
| Trading costs (broker commissions) | $4 | $12 | $20 |
| Lost growth on money paid in costs | $0 | $13 | $47 |
| Total costs | $87 | $284 | $518 |
| Value after costs | $10,413 | $11,292 | $12,245 |
| Impact on return, per year | 0.87% | 0.87% | 0.87% |
PWER 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): 0.0357%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $6.3M
- Portfolio turnover (prospectus): 31%
- Securities lending: none during the year
PWER Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JonesTrading Institutional Services LLC | $512 | 18.62% |
| Morgan Stanley & Co. LLC | $465 | 16.91% |
| Citigroup Global Markets Inc. | $458 | 16.64% |
| BofA Securities, Inc. | $390 | 14.20% |
| J.P. Morgan Securities LLC | $243 | 8.83% |
| Virtu Americas LLC | $155 | 5.65% |
| Jefferies LLC | $144 | 5.25% |
| UBS Securities LLC | $138 | 5.00% |
| Goldman Sachs & Co. LLC | $135 | 4.91% |
| RBC Capital Markets, LLC | $110 | 3.99% |
PWER Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $3.3M | 52.19% |
| Jane Street Capital, LLC | $3.0M | 47.81% |
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.