QABA Fees and Costs — First Trust NASDAQ ABA Community Bank Index Fund
Data updated: 2026-08-21
The net expense ratio is 0.60%: a 0.40% management fee plus 0.23% other expenses, less a 0.03% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $14K in broker commissions, 0.0131% of average net assets, and portfolio turnover was 20%.
QABA Fees and Expenses
Annual operating expenses and sales charges of QABA. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.23% |
| Gross expense ratio | 0.63% |
| Fee waiver | −0.03% |
| Net expense ratio | 0.60% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
QABA Costs Over Time
On $10,000 invested in QABA, assuming 5% a year before costs, total costs come to $386 over 5 years, cutting the return by 0.64% 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 0.60%) | $63 | $197 | $344 |
| Trading costs (broker commissions) | $1 | $4 | $8 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $64 | $212 | $386 |
| Value after costs | $10,436 | $11,365 | $12,376 |
| Impact on return, per year | 0.64% | 0.64% | 0.64% |
QABA 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): 0.0131%
- Total broker commissions: $14K
- Bought from dealers (principal trades, not a cost): $195.3M
- Portfolio turnover (prospectus): 20%
- Securities on loan, average value: $380K
- Net income from securities lending: $10K (0.009% of average net assets)
QABA Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| OLD MISSION MARKETS LLC | $4K | 25.89% |
| SUSQUEHANNA FINANCIAL GROUP, LLLP | $3K | 19.54% |
| CITADEL SECURITIES LLC | $3K | 18.79% |
| CANTOR FITZGERALD & CO. | $1K | 7.67% |
| BTIG, LLC | $946 | 6.84% |
| BOFA SECURITIES, INC. | $900 | 6.51% |
| GOLDMAN SACHS & CO. LLC | $882 | 6.38% |
| MIZUHO SECURITIES USA LLC | $687 | 4.97% |
| J.P. MORGAN SECURITIES LLC | $362 | 2.62% |
| RBC CAPITAL MARKETS, LLC | $112 | 0.81% |
QABA Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $81.8M | 41.89% |
| CITADEL SECURITIES LLC | $65.0M | 33.27% |
| RBC CAPITAL MARKETS, LLC | $27.0M | 13.82% |
| JANE STREET CAPITAL, LLC | $18.7M | 9.58% |
| GOLDMAN SACHS & CO. LLC | $2.8M | 1.45% |
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.