QLS Fees and Costs — IQ Hedge Long/Short Tracker ETF
Data updated: 2023-03-28
The net expense ratio is 0.57%. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $6K in broker commissions, 0.0307% of average net assets, and portfolio turnover was 71%.
QLS Fees and Expenses
Annual operating expenses and sales charges of QLS. 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 | 0.57% |
| Fee waiver | — |
| Net expense ratio | 0.57% |
| 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 |
QLS Costs Over Time
On $10,000 invested in QLS, assuming 5% a year before costs, total costs come to $379 over 5 years, cutting the return by 0.63% 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 0.57%) | $60 | $188 | $327 |
| Trading costs (broker commissions) | $3 | $10 | $18 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $63 | $207 | $379 |
| Value after costs | $10,437 | $11,369 | $12,384 |
| Impact on return, per year | 0.63% | 0.63% | 0.63% |
QLS 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): 0.0307%
- Total broker commissions: $6K
- Bought from dealers (principal trades, not a cost): $128.3M
- Portfolio turnover (prospectus): 71%
- Securities on loan, average value: $3.5M
- Net income from securities lending: $18K (0.088% of average net assets)
QLS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jane Street Execution Services, LLC | $1K | 18.63% |
| CITADEL SECURITIES LLC | $974 | 15.71% |
| WallachBeth Capital LLC | $902 | 14.56% |
| BNY MELLON CAPITAL MARKETS, LLC | $881 | 14.21% |
| BTIG, LLC | $624 | 10.07% |
| MISCHLER FINANCIAL GROUP, INC. | $550 | 8.88% |
| VIRTU AMERICAS LLC | $421 | 6.79% |
| Stifel, Nicolaus & Company, Incorporated | $350 | 5.64% |
| BOFA SECURITIES, INC. | $335 | 5.40% |
| CitiGroup Global Markets Inc. | $7 | 0.11% |
QLS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $62.0M | 48.32% |
| CITADEL SECURITIES LLC | $48.7M | 37.97% |
| GOLDMAN SACHS & CO. LLC | $14.9M | 11.62% |
| VIRTU AMERICAS LLC | $2.7M | 2.10% |
| MORGAN STANLEY & CO. LLC | $3K | 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.