QED Fees and Costs — IQ Hedge Event-Driven Tracker ETF
Data updated: 2023-03-28
The net expense ratio is 0.70%. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $5K in broker commissions, 0.0361% of average net assets, and portfolio turnover was 50%.
QED Fees and Expenses
Annual operating expenses and sales charges of QED. Prospectus, as of April 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.70% |
| Fee waiver | — |
| Net expense ratio | 0.70% |
| Sales charges | |
|---|---|
| Max front load | — |
| 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 |
QED Costs Over Time
On $10,000 invested in QED, assuming 5% a year before costs, total costs come to $463 over 5 years, cutting the return by 0.77% 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 0.70%) | $74 | $230 | $400 |
| Trading costs (broker commissions) | $4 | $12 | $21 |
| Lost growth on money paid in costs | $0 | $12 | $42 |
| Total costs | $77 | $254 | $463 |
| Value after costs | $10,423 | $11,322 | $12,300 |
| Impact on return, per year | 0.77% | 0.77% | 0.77% |
QED Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0361%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $24.8M
- Portfolio turnover (prospectus): 50%
- Securities on loan, average value: $2.3M
- Net income from securities lending: $15K (0.105% of average net assets)
QED Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $3K | 51.88% |
| CITADEL SECURITIES LLC | $1K | 23.23% |
| BNY MELLON CAPITAL MARKETS, LLC | $401 | 7.89% |
| WallachBeth Capital LLC | $276 | 5.42% |
| MISCHLER FINANCIAL GROUP, INC. | $206 | 4.06% |
| Jane Street Execution Services, LLC | $176 | 3.47% |
| BTIG, LLC | $103 | 2.03% |
| Stifel, Nicolaus & Company, Incorporated | $63 | 1.23% |
| BOFA SECURITIES, INC. | $21 | 0.42% |
| CitiGroup Global Markets Inc. | $20 | 0.39% |
QED Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $20.6M | 83.25% |
| BOFA SECURITIES, INC. | $2.4M | 9.59% |
| GOLDMAN SACHS & CO. LLC | $1.8M | 7.15% |
| MORGAN STANLEY & CO. LLC | $1K | 0.00% |
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.