QGTA Fees and Costs — IQ Leaders GTAA Tracker ETF
Data updated: 2020-09-28
The net expense ratio is 0.37% (0.60% before fee waivers). There are no sales loads or redemption fees. In fiscal 2020 the fund paid $21K in broker commissions, 0.0709% of average net assets, and portfolio turnover was 174%.
QGTA Fees and Expenses
Annual operating expenses and sales charges of QGTA. Prospectus, as of April 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.60% |
| Fee waiver | −0.23% |
| Net expense ratio | 0.37% |
| 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 |
QGTA Costs Over Time
On $10,000 invested in QGTA, assuming 5% a year before costs, total costs come to $279 over 5 years, cutting the return by 0.46% 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 0.37%) | $39 | $122 | $213 |
| Trading costs (broker commissions) | $7 | $23 | $41 |
| Lost growth on money paid in costs | $0 | $7 | $25 |
| Total costs | $46 | $152 | $279 |
| Value after costs | $10,454 | $11,424 | $12,484 |
| Impact on return, per year | 0.46% | 0.46% | 0.46% |
QGTA Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0709%
- Total broker commissions: $21K
- Bought from dealers (principal trades, not a cost): $62.4M
- Portfolio turnover (prospectus): 174%
- Securities on loan, average value: $9.6M
- Net income from securities lending: $16K (0.054% of average net assets)
QGTA Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Stifel, Nicolaus & Company, Incorporated | $6K | 27.00% |
| MISCHLER FINANCIAL GROUP, INC. | $3K | 15.70% |
| VIRTU AMERICAS LLC | $3K | 14.07% |
| CitiGroup Global Markets Inc. | $3K | 13.28% |
| BOFA SECURITIES, INC. | $2K | 8.26% |
| J.P. Morgan Securities LLC | $2K | 8.03% |
| WallachBeth Capital LLC | $2K | 8.01% |
| VIRTU FINANCIAL BD LLC | $467 | 2.25% |
| DEUTSCHE BANK SECURITIES INC. | $434 | 2.09% |
| Jane Street Execution Services, LLC | $272 | 1.31% |
QGTA Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $31.5M | 50.37% |
| VIRTU AMERICAS LLC | $16.5M | 26.36% |
| GOLDMAN SACHS & CO. LLC | $14.5M | 23.25% |
| MORGAN STANLEY & CO. LLC | $8K | 0.01% |
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.