QMN Fees and Costs — IQ Hedge Market Neutral 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 $14K in broker commissions, 0.0813% of average net assets, and portfolio turnover was 135%.
QMN Fees and Expenses
Annual operating expenses and sales charges of QMN. 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 |
QMN Costs Over Time
On $10,000 invested in QMN, assuming 5% a year before costs, total costs come to $491 over 5 years, cutting the return by 0.82% 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) | $9 | $27 | $46 |
| Lost growth on money paid in costs | $0 | $13 | $45 |
| Total costs | $82 | $269 | $491 |
| Value after costs | $10,418 | $11,307 | $12,272 |
| Impact on return, per year | 0.82% | 0.82% | 0.82% |
QMN 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): 0.0813%
- Total broker commissions: $14K
- Bought from dealers (principal trades, not a cost): $2.6M
- Portfolio turnover (prospectus): 135%
- Securities on loan, average value: $2.4M
- Net income from securities lending: $21K (0.118% of average net assets)
QMN Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $5K | 36.71% |
| Jane Street Execution Services, LLC | $3K | 22.68% |
| CITADEL SECURITIES LLC | $2K | 11.90% |
| MISCHLER FINANCIAL GROUP, INC. | $1K | 8.92% |
| BNY MELLON CAPITAL MARKETS, LLC | $1K | 7.57% |
| Stifel, Nicolaus & Company, Incorporated | $726 | 5.10% |
| WallachBeth Capital LLC | $618 | 4.34% |
| BOFA SECURITIES, INC. | $244 | 1.72% |
| BTIG, LLC | $82 | 0.58% |
| CitiGroup Global Markets Inc. | $70 | 0.49% |
QMN Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $2.6M | 99.90% |
| MORGAN STANLEY & CO. LLC | $3K | 0.10% |
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.